Greater Houston Real Estate

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Updated: 6 years 15 weeks ago

Jerry Built cow to be part of Texas Pipe & Supply sculpture garden

Tue, 02/06/2018 - 02:28

The Jerry Built cow across from West University Place is being put out to pasture. Pipeline Realty, which recently acquired the building at 3501 W. Holcombe that housed Jerry Built Homegrown Burgers before its sudden departure in May, has taken down the cow that sat on top of the building. The cow will join the Rubenstein family's art park at its Texas Pipe & Supply yard at Texas 288 and Bellfort.

Camden Property's Ric Campo warns of post-Harvey building regulations

Tue, 02/06/2018 - 02:28

Houston-based Camden Property Trust reported fourth-quarter property revenue Thursday of $229.8 million, up from $217 million a year earlier.

Retail wrap: Japan-based Kinokuniya plans first Houston bookstore

Tue, 02/06/2018 - 02:28
Kinokuniya, a Japan-based book store with 12 locations in the U.S., has signed up for 4,000 square feet in Katy for its first store in the Houston market. The store, along with 85°C Bakery Café and Kura Revolving Sushi Bar, will be part of NewQuest Properties' second phase of the Cinemark-anchored Katy Grand retail center at the northeast corner of the Grand Parkway and the Katy Freeway. The new phase, on 7.4 acres, will add two buildings totaling 36,000 square feet this fall. Dave & Busters has signed on as an anchor tenant in Dallas-based Sam Moon Group's 175,000-square-foot Metropark Square development near The Woodlands.

Real estate briefs

Tue, 02/06/2018 - 02:28
Transwestern announced several leases in the North Houston (Greenspoint) submarket in 2017: Hunting Energy Services, 62,137 square feet at 16825 Northchase Drive; Vinmar, 37,671 square feet at 16825 Northchase Drive; Our Lady of the Lake, 20,000 square feet at 600 N. Sam Houston Parkway; and Air Products and Chemicals, 16,748 square feet at 16945 Northchase Drive. Michelle Wogan, Evelyn Ward and Paula Musa were involved in the transactions. Global Tubing has leased 6,355 square feet at 250 Assay for relocation of its global headquarters to McCord Development's Generation Park. It will keep its manufacturing facility in Dayton. Entoro has leased 6,270 square feet in Woodway Tower, 4900 Woodway. Diana Bridger of JLL represented the tenant.

Dave & Busters to join entertainment mix in Woodlands area development

Tue, 02/06/2018 - 02:28

Dallas-based Sam Moon Group has landed Dave & Busters as an anchor tenant in its Metropark Square mixed-use development near The Woodlands.

Judge gives Montrose Management District new deadline

Tue, 02/06/2018 - 02:28
The Montrose Management District can go back to operating as usual, but a judge late Tuesday ordered it to do a more thorough review of a petition seeking its dissolution. The district earlier had rejected the petition by declaring more than a quarter of the signatures invalid. But state District Judge Daryl Moore, calling the district's refusal to undertake a more extensive analysis "arbitrary and unreasonable," gave the district 45 days to conduct the additional review.

Developments of Distinction: Levy Park, Sawyer Yards among this year's ULI winners

Tue, 02/06/2018 - 02:28
The best of Houston's public and private spaces earned top honors at the Urban Land Institute Development of Distinction Awards Tuesday. A jury of three outside real estate experts selected five projects that displayed best practices not only in design, but also in construction, economic viability, healthy places, marketing and management. The projects - all highlighted by the judges for demonstrating a sense of community, belonging and Houston - ranged from converted industrial spaces close to the city's core to an underutilized park that's become a community gathering space in Upper Kirby. The 11th annual awards, presented by Winstead, were handed out at a cocktail reception at The Astorian, which was attended by some 300 guests.

Harvey-damaged synagogue faces demolition

Tue, 02/06/2018 - 02:28

The United Orthodox Synagogues will demolish part of their severely damaged campus in Meyerland after flooding three times in as many years.

Brookfield taps Transwestern for Houston Center leasing assignment

Tue, 02/06/2018 - 02:28

Transwestern has been hired to provide leasing services for Brookfield Property Partners' recently acquired Houston Center complex on downtown's southeast side.

Global Tubing picks Generation Park for global HQ

Tue, 02/06/2018 - 02:28

Global Tubing will move its headquarters to Generation Park, a project of McCord Development in northeast Houston. The company, which will keep its manufacturing facility in Dayton, has leased 6,355 square feet at 250 Assay Street.

Montrose Management District seeking donations to keep bridge lights on

Tue, 02/06/2018 - 02:28

The Montrose Management District, temporarily barred from collecting or spending any of its assessments, has set up an account to keep the bridge lights over U.S. 59 burning.

Local Office launches shared workspaces with neighborhood allure

Tue, 02/06/2018 - 02:28
Pipeline Realty is getting into co-working with the launch of Local Office at 2617 Bissonnet near Rice Village. The Houston-based real estate firm has converted a two-story industrial/office building into shared workspaces and private offices with capacity for about 125 members. Local Office, in West University Place, targets entrepreneurs and professionals who want the flexibility of a month-to-month arrangement in a neighborhood setting. Most of its initial members hail from nearby West U, Braes Heights, Bellaire and the Texas Medical Center. "Most of the co-working and shared office spaces that we see tend to be located in kind of the downtown cores or some of the trendier parts of town," said Scott Rubenstein of Pipeline Realty.

Arabian horse farm to make way for 1,000 homes near Tomball

Tue, 02/06/2018 - 02:28
Hundreds of grassy acres in a semi-rural area near Tomball for years were home to an elite horse farm where Egyptian Arabians were bred, shown and sold to equine enthusiasts from far and wide. But the local family that operated the farm until a few years ago has sold it to a Houston development firm planning to build 1,000 home sites on the 370 acres and turn an existing 7,000-square-foot building on the site into a recreation center for the community. Michael Cox, president of Johnson Development Services, envisions an outdoor area with cabanas, a lanai and pools that cascade toward a lake. A show arena used for the horses would be converted into a dog park for the residents.

DrillChem Drilling Solutions inks office lease in The Woodlands

Tue, 02/06/2018 - 02:28

DrillChem Drilling Solutions has leased 5,500 square feet at 8701 New Trails in The Woodlands, Newcor Commercial Real Estate announced.

Home sales fall across U.S. as rising prices discourage buyers

Sun, 02/04/2018 - 04:45
WASHINGTON - U.S. home sales slid 3.6 percent in December, as rising prices and a declining number of available properties stifled purchases. The National Association of Realtors said that sales of existing homes fell last month to a seasonally adjusted annual rate of 5.57 million units. Despite the monthly setback, sales totaled 5.51 million in 2017. That was the highest level since 2006, yet it marked a slight 1.1 percent gain from 2016 as the months' supply of properties on the market fell to the lowest level ever recorded by the real estate group. The strengthening U.S. economy helped to lift home sales last year, but homeowners are choosing not to list their properties despite the rising prices and relatively low mortgage rates.

Real estate in brief: Distribution warehouse changes hands in Stafford

Wed, 01/31/2018 - 02:33
Stoneleigh CP Apart-ments has secured a loan to refinance The Cape, a 228-unit apartment complex at 10810 Spring Cypress Road, Tomball. Mark Brandenburg of JLL arranged the loan through Freddie Mac. Built in 2006, the three-story complex encompasses 200,000 square feet across 13 buildings. A subsidiary of Stag Industrial has purchased Stafford Commerce Center, a 68,300-square-foot distribution warehouse at 13720 Stafford Road. The property is leased to Quest Design and Fabrication. Trent Agnew, Rusty Tamlyn and Charlie Strauss of HFF represented the seller, Black Flag Properties. Finial Group has purchased a 49,640-square-foot multi-tenant industrial and office building at 500 Century Plaza.

Deal of the Week: Sage Plaza signs new tenants

Wed, 01/31/2018 - 02:33
Sage Plaza, a 25-story office building at 5151 San Felipe between the Tanglewood neighborhood and the Galleria, has landed two new tenants. Insgroup, a privately held property and casualty insurance broker, has leased 43,296 square feet. Legal Access Holding Co., a diversified employee benefits company, has leased 19,816 square feet. CBRE's Jason Presley and Debbie Wilson represented the landlord, Granite Barnhart Sage Plaza, in the deals. David Bale with JLL represented Insgroup, while Jay Kyle of Colliers International represented Legal Access. Recent upgrades to the building, which opened in 1983, include outdoor seating areas and a fitness center.

Judge to rule Tuesday in Montrose Management District dispute

Wed, 01/31/2018 - 02:33
The Montrose Management District, unable to pay its bills, provide services or keep U.S. 59 bridge lights on, will learn Tuesday whether it will be able to resume operations as the district seeks to fight off a lawsuit seeking its dissolution. After a three-hour hearing Friday, a district court judge said he will rule Tuesday whether to extend a court order that prohibits the management district, whose operations are funded by assessments on commercial property owners, from issuing, collecting or spending those assessments. If the judge extends the order, the district could be shut down until a trial is held on the lawsuit.

Report: Houston new home prices ease, sales stay strong

Wed, 01/31/2018 - 02:33

Buyers spent less to get into a new house in the Houston area in December.

The average new home sales price in the local market dropped to $358,176 in December, down 3.2 percent from $369,908 in November, according to the New Home Sales Index. The index, which tracks price and sales activity in four Texas markets, reflects 12-month rolling averages.