Greater Houston Real Estate

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Updated: 5 years 17 weeks ago

Retail Wrap: Ashley HomeStore opens three locations

Wed, 01/31/2018 - 02:33
Ashley HomeStore recently opened stores at 9000 San Jacinto Mall in Baytown (33,702 square feet), 3465 Gulf Freeway in Dickinson (17,133 square feet) and 100 Texas 332 West in Lake Jackson (58,324 square feet). Showrooms display packages for living rooms, bedrooms, home office, kitchen, dining and bath, in addition to outdoor furniture, home accents, mattresses and bedding. The company, which has grown to 14 area locations since 2007, has donated more than $1 million in home furnishings to storm victims after Hurricane Harvey.

Meridiana community starts second phase

Mon, 01/29/2018 - 02:33

Meridiana, a development of Rise Communities in the Manvel/Iowa Colony area south of Pearland, has opened its second phase, planned for 300 homes. Chesmar Homes, which will build on 60-foot wide lots, has joined the lineup of builders. Other include David Weekley Homes, Highland Homes, Perry Homes, Plantation Homes, Shea Homes, Taylor Morrison and Trendmaker Homes.

Namesake tenant renews big lease at Williams Tower

Mon, 01/29/2018 - 02:33
Williams, the lead tenant in its namesake tower by the Galleria, has renewed a lease for nearly a quarter of the space in the 64-story building at 2800 Post Oak Blvd. The Tulsa-based natural gas pipeline company has committed to a long-term renewal for 353,944 square feet in Williams Tower, CBRE announced. Terms were not disclosed. CBRE's Dave Hanusa, Bonnie Kelley-Dienna and Jason Presley represented the landlord, Invesco Real Estate. Ronnie Deyo and Beau Bellow of JLL represented Williams in the renewal. "We are very proud that the Williams Cos. elected to continue their long relationship and identity with the building," Hanusa said in an announcement. "This lease is a very strong endorsement of the building and its ownership.

BoyarMiller panel: More growth ahead for Houston commercial real estate

Mon, 01/29/2018 - 02:33

Investors placed big bets on Houston real estate in 2017, and this year should shape up to be strong too, a panel of experts at BoyarMiller's annual commercial real estate forum said Thursday.

Real estate briefs: Hertz Investment buys Westchase Park Plaza

Mon, 01/29/2018 - 02:33
Hertz Investment Group has entered Texas with the purchase of Westchase Park Plaza, a 10-story office building at 11490 Westheimer, from Miami-based Parmenter. The Woodland Hills, Calif.-based company said it paid $24 million for the 232,108-square-foot building. The property, which recently underwent a multimillion-dollar renovation, is 60 percent leased. Moody Rambin will handle leasing. Richland Cos. has acquired a 74,462-square-foot industrial flex property at 8100 Westpark Drive from Big Houston SW. Houston-based Richland will manage the property, which is fully leased to Hoffer Furniture, Pak Man Supply and DragoArt Tattoo Supply. Houston-based Caldwell Cos.

Retail Wrap: Katy Ranch Crossing is filling up

Mon, 01/29/2018 - 02:33
Katy Ranch Crossing, a 750,000-square-foot retail development of Freeway Properties on 130 acres at the southeast corner of Interstate 10 and Katy Fort Bend Road, is almost fully leased. The center has generated about 150,000 square feet of lease deals annually for the last 5 years, said Lilly Golden, a broker with Evergreen Commercial Realty who represents the landlord. "With only 40,000 square feet of big-box space remaining, I'm expecting 2018 will be the year I lease myself out of a job," Golden said.

Deal of the week: Valvoline Instant Oil Change targets Houston for expansion

Mon, 01/29/2018 - 02:33
Valvoline Instant Oil Change, the nation's second biggest chain of drive-through oil change and automotive maintenance centers behind Houston-based Jiffy Lube, has inked deals for the first company-owned locations in the Houston market. Lexington, Ky.-based Valvoline has secured sites in Grand Parkway Marketplace II, a regional shopping center at ­Kuykendahl Road and the Grand Parkway in Spring near The Woodlands, and at Texas 96 and South Shore Boulevard in League City for its initial locations, according to the Weitzman real estate firm. Valvoline, a motor oil brand that dates to 1866, has operated a plant in Deer Park for 35 years but has not had a big retail presence locally.

Montrose Management District ends neighborhood services

Mon, 01/29/2018 - 02:33

The embattled Montrose Management District has stopped providing services to the neighborhood due to "unpaid assessments from some of the commercial property owners within the district," according to a note on its website.

Industrial park planned for 92 acres west of Houston

Mon, 01/29/2018 - 02:33

Urban Cos. and InSite Realty Partners plan to develop a large industrial park west of Houston.

California investor enters Texas with Westchase office building

Mon, 01/29/2018 - 02:33

Hertz Investment Group has entered Texas with the purchase of Westchase Park Plaza, a 10-story office building at 11490 Westheimer. The Woodland Hills, Calif.-based company now owns and manages 62 retail and office properties throughout the United States, including a recently acquired building in Cheyenne Corporate Center in Las Vegas.

Harvey-damaged HP and former Compaq Computer campus to be sold

Fri, 01/26/2018 - 02:23

The last of the former Compaq Computer property is being sold, positioning the northwest Houston parcel for a new tenant or perhaps a full-scale redevelopment.

Preferred Shipping acquires 63,000 SF warehouse in Sugar Land

Fri, 01/26/2018 - 02:23

Preferred Shipping has acquired a 63,000-square-foot warehouse in Sugar Land.

Former Haven restaurant serves law firm with Upper Kirby office space

Fri, 01/26/2018 - 02:23

An Upper Kirby property built to house farm-to-table restaurant Haven a decade ago will get new use as a law office and a mediation center. A local investor has purchased the 5,350-square-foot building at 2502 Algerian Way, said Chris Dray of NewQuest Properties. The location, near U.S. 59 and Kirby Drive, capped a months long search for relocation space for Dray's client.

Heights real estate brokerage getting modern home

Fri, 01/26/2018 - 02:23

The company will occupy more than 8,000 square feet -- including a 1,500-square-foot balcony/event space -- in a new building under construction at 927 Studewood.

Braun Enterprises signs retailers at new Midtown redevelopment

Fri, 01/26/2018 - 02:23
Braun Enterprises is about to make history pay - again. The Houston real estate company said it will soon open its redevelopment of 3100 Fannin in Midtown after signing several major retail tenants. The property at the northwest corner of Elgin is the latest of more than 35 older, close-in properties Braun has rehabilitated into retail and restaurant space since redeveloping Yale Pharmacy in the Heights in 2007. Other projects include Harolds in the Heights, the former Byzantio restaurant on West Gray and several recent developments in the Timbergrove, Lazy Brook and Garden Oaks neighborhoods.

Real estate in brief: 5 Houston Center lease

Wed, 01/24/2018 - 02:20
Jackson Walker has renewed and expanded its lease to 77,015 square feet in downtown's 5 Houston Center, 1401 McKinney. Eric Anderson and Tyler Garrett of Transwestern represented the landlord, Spear Street Capital. Tim Relyea of Cushman & Wakefield represented the law firm. The Texas-based firm, which has 90 attorneys in Houston including 23 in its real estate practice, will soon have more than 100 attorneys in the downtown office, Houston office managing partner Kurt Nondorf said. A partnership led by Braun Enterprises has purchased 5757 Woodway, a 162,188-square-foot office building on 4 acres in the Galleria area. The two- and four-story property is 70 percent leased. Dan Miller and Marty Hogan of HFF handled the sale.

Deal of the Week: Investment manager to move to Skanska campus

Tue, 01/23/2018 - 02:17
Crossmark Global Investments, a longtime Houston investment manager that got a new name last year, will move its headquarters to Skanska's recently completed West Memorial Place campus in the Energy Corridor this year. The company, which provides investment strategies for financial advisers and institutions, has leased 16,000 square feet at West Memorial Place I, 15375 Memorial Drive, just west of Terry Hershey Park. Founded in 1987, Crossmark Global Investments changed its name from Capstone last year. Its current offices are at 3700 W. Sam Houston Parkway in Westchase. West Memorial Place offers tenants health-focused amenities such as a fitness center with locker rooms and showers, a bike share program, and an on-site cafe.

Retail Wrap: Blue Onyx Bistro will open just inside Loop 610

Sun, 01/21/2018 - 02:35
Blue Onyx Bistro will open at 4720 Richmond, just inside Loop 610 near the Galleria, in February. The 150-seat steak and seafood restaurant is owned by executive chef David Chang and partners. It is part of Bernstein Investments' Richmond Loop Plaza, which is undergoing renovations. Chang opened Redfish Seafood Grill in northwest Houston in 2003. Agricole Hospitality will expand to Montrose with the opening of Night Heron in the former Lowbrow space, 1601 W. Main, in February. The restaurant, led by executive chef Jacob Pate and general manager Julie Rogers, will serve light bites, entrees, sharable dishes and alcohol.

Houston real estate market posts record year

Thu, 01/18/2018 - 02:22

Houston's real estate market set a new record for home sales in 2017, besting the previous year's record by 3.5 percent as the market rapidly rebounded after Hurricane Harvey.