Houston Real Estate News

U.S. home sales rose in October as hurricane impact wanes

Greater Houston Real Estate - Mon, 12/11/2017 - 02:22
WASHINGTON - Americans bought more homes last month, as sales snapped back in hurricane-hit Texas and Florida. Yet the market is still suffering from a dwindling supply of available homes. Sales rose 2 percent in October to a seasonally adjusted annual rate of 5.48 million, the National Association of Realtors said this past week. That's the fastest pace since June. Still, sales have slipped 0.9 percent from a year ago. The number of available homes has fallen 10.4 percent from a year earlier to just 1.8 million. That's the lowest for any October since the real estate group began tracking the data in 1999. The tight supply is pushing up prices and thwarting many would-be home buyers. The median home price jumped 5.

Airfreight company inks massive industrial lease near IAH

Greater Houston Real Estate - Fri, 12/08/2017 - 02:29

Air General has signed a 101,460-square-foot industrial lease near George Bush Intercontinental Airport.

Houston apartment rents rebound

Greater Houston Real Estate - Wed, 12/06/2017 - 02:19

Renters paid an average of $1,105 for an apartment in October, the highest average rate in two years as the need for post-Hurricane Harvey housing is shoring up Houston's glutted multifamily market.

Salem Lutheran Church takes over BJ Services' Tomball warehouse for Harvey relief efforts

Greater Houston Real Estate - Wed, 12/06/2017 - 02:19

Salem Lutheran Church has leased a 106,000-square foot warehouse and covered space at 1121 FM 2920 Road in Tomball for its Heart for Texas program. Tomball-based BJ Services, a provider of pressure pumping services to oil and gas companies in North America, donated the space to assist with Hurricane Harvey relief efforts.

Real estate in brief: Auto Financial Group inks sublease deal on San Felipe

Greater Houston Real Estate - Wed, 12/06/2017 - 02:19
Auto Financial Group has subleased 6,598 square feet at 5555 San Felipe from Marathon Oil Corp. Griff Bandy and John Simons of NAI Partners represented the tenant. Axiom Medical Consulting has subleased 26,189 square feet of office space at 8401 New Trails from Hunt Guillot & Associates. Scott Covington of S.E. Covington & Co. represented the subtenant. Rob Banzhaf and Ryan Dierker of Newcor Commercial Real Estate represented Hunt Guillot, which relocated to an 11,000-square-foot space in The Woodlands. Capital Plastics International will relocate from 10702 Cash Road in Stafford to 1601 Gillingham Lane in Sugar Land.

Retail Wrap: Lily Rain adding third local spot, in CityCentre

Greater Houston Real Estate - Wed, 12/06/2017 - 02:19
Lily Rain, a lifestyle brand out of Houston that's grown to 20 stores across the United States, will add a third area location in CityCentre on Houston's west side during the holidays. The 1,821-square-foot store, across from the central plaza on Town & Country Boulevard between Elaine Turner and J. Crew, will offer women's apparel and accessories, home décor and gifts. It will take over the space previously occupied by ivivva, an active-wear brand by Lululemon. Originally an online shopping site, Lily Rain opened its first store in Rice Village in 2014.

Hyatt Place Hotel to occupy Southwestern Bell building after redo

Greater Houston Real Estate - Wed, 12/06/2017 - 02:19
The midcentury Southwestern Bell building in downtown Houston will get new life as a 150-room Hyatt Place Hotel. The development group, including Anthony Patel and Nick Patel of Pride Management, has obtained a $22.8 million loan for the long-vacant building from Dallas-based Hall Structured Finance, the companies announced. Renovation of the 16-story high-rise is targeted for completion by March 2019. The first-lien construction loan, which closed after Hurricane Harvey and represents a portion of the development costs, will jump start the project.

Stream Realty breaks ground on spec distribution center in northwest Houston

Greater Houston Real Estate - Fri, 12/01/2017 - 02:18

The 411,442-square-foot facility will feature 32-foot-tall ceilings, a fast response sprinkler system, docks on both sides of the building and storage space.

The Woodlands Hills to spread over 2,000 acres with thousands of new homes

Greater Houston Real Estate - Wed, 11/29/2017 - 02:19

Public officials and executives from The Howard Hughes Corp. posed for photos Wednesday morning next to a tent on a newly poured street on the site of a new master-planned community under construction 13 miles north of The Woodlands.

Houston among top global cities to raise a family

Greater Houston Real Estate - Wed, 11/29/2017 - 02:19

Houston earned a spot on a global ranking of the best cities to raise a family, according to online real estate portal Homeday. Berlin-based Homeday examined 15 factors identified by parents as contributing to what makes a city great. They included infrastructure, maternity laws, healthcare quality, happiness levels, activities for children, and expert perception. Homeday selected the top 100 cities in the index after analyzing thousands of cities, with Copenhagen, Denmark earning the top spot.

Photos offer 1st look inside Houston's 2nd Hotel ZaZa

Greater Houston Real Estate - Wed, 11/29/2017 - 02:19

Z Resorts and MetroNational have unveiled Houston's second Hotel ZaZa, which will open to the public on Dec. 1.

Francesca's appoints chief merchandising officer

Greater Houston Real Estate - Wed, 11/29/2017 - 02:19

Ivy Spargo will oversee the Houston-based retailer's merchandising team starting Nov. 27.

Goya Foods to expand plant west of Houston

Greater Houston Real Estate - Mon, 11/27/2017 - 02:21

Goya Foods is expanding its manufacturing and distribution facility west of Houston.

Hines to build timber office building in Chicago

Greater Houston Real Estate - Mon, 11/27/2017 - 02:21

Houston-based Hines is developing an office building in Chicago constructed of wood, the first heavy timber structure of its kind built in the Windy City since the 1800s.

Miami apartment investor sells two Houston properties for $60 million

Greater Houston Real Estate - Mon, 11/27/2017 - 02:21

Miami-based One Real Estate Investment has sold two large apartment complexes totaling 882 units in the Houston area to S2 Capital for more than $60 million, the company reported.

Deal of the Week: Norfolk Tower to get upgrades, new name

Greater Houston Real Estate - Fri, 11/24/2017 - 02:22
Nitya Capital has plans for its first office project, the 35-year-old Norfolk Tower that it plans to spruce up and rename. Houston-based Nitya, which invests primarily in apartment properties, has purchased the 11-story office building at 2211 Norfolk at Greenbriar from Boston-based TA Realty. HFF handled the sale. The building, which is leased to 65 to 70 small tenants, will be upgraded and rebranded as Nitya Tower. The location near Greenway Plaza, River Oaks, the Texas Medical Center and downtown was a draw. "We saw a similar value-add play that we look for in apartments," founder and CEO Swapnil Agarwal said. "It's a great location with visibility from U.S. 59. It's an old building and it needs work, which is what we do.

Retail wrap: Shopping center in Montgomery has new owner

Greater Houston Real Estate - Wed, 11/22/2017 - 02:22
Montgomery Trace Shopping Center, a 94,893- square-foot center on 14 acres at 20821 Eva, Montgomery, has changed hands. The building is 92 percent leased to 15 tenants. Jeff Tinsley of the J. Beard Real Estate Co. represented the seller, Montgomery Trace Shopping Center DST Texas. Pluckers Wing Bar will open at 20821 Gulf Freeway in Webster on Nov. 21. The Austin-based sports bar and wing restaurant plans to open a fourth area location in Cypress in early 2018. Citris Nails has leased 5,000 square feet in the Center at Pearland Parkway, 2650 Pearland Parkway, Pearland, from Pearland Dunhill 1. John Nguyen of NewQuest Properties represented the tenant. Sarah Landry of Dunhill Partners represented the landlord.

Real estate briefs: 1885 Saint James Place lands new tenants

Greater Houston Real Estate - Tue, 11/21/2017 - 02:20
Six new leases at 1885 Saint James Place have pushed occupancy of the 165,000-square-foot building past the 50 percent mark, according to JLL. Nelson Murphree Legacy Partners developed the building, just south of the Tanglewood neighborhood, to cater to smaller tenants. JLL's Chrissy Wilson and Russell Hodges represented the landlord, 1885 St. James Place Partners. The deals, which total about 26,000 square feet, are: Sage Refined Products, represented by Harry Holmes of Avison Young, will relocate from BLVD Place to a 7,391-square-foot office on the 11th floor. Aycock & Co., represented by Matt Trozzo and Graham Horton of CBRE, will move from 7500 San Felipe to a 6,448-square-foot office on the 10th floor.

Montrose Management District cancels board meeting amid increased scrutiny

Greater Houston Real Estate - Fri, 11/17/2017 - 02:18

The embattled Montrose Management District, under fire from property owners pushing for the group's dissolution, has cancelled a monthly board meeting scheduled for Monday.

Rice importer acquires industrial building in Missouri City

Greater Houston Real Estate - Thu, 11/16/2017 - 02:17

LT Foods USA, an importer and distributor of Basmati rice, has purchased a Class A industrial building in Missouri City.

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