Greater Houston Real Estate

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Updated: 3 years 50 weeks ago

Construction demand rises in Texas, U.S. amid labor shortages

Mon, 01/08/2018 - 02:47
Demand for construction services will expand this year nationwide as contractors continue to face labor shortages, according to a survey conducted by the Associated General Contractors of America. More than a thousand firms across the U.S. filled out the association's questionnaire between November and December 2017. Respondents reported the most optimism for growth in the private office, manufacturing, retail and some aspects of the transportation sector, including airport systems. In Texas, K-12 school construction held the highest level of growth potential. Yet half of all respondents reported difficulty in filling both salaried and craft positions.

Great W'Kana Café, A Ma Maniere, Atelier Isabelle Rose to open at Upper Kirby project

Mon, 01/08/2018 - 02:47

Great W'Kana Café, A Ma Maniere Atelier, Isabelle Rose have signed up for space in Kirby Collection, a new mixed-use development of Thor Equities in Upper Kirby.

Houston office market shows signs of recovery

Mon, 01/08/2018 - 02:47

Houston companies picked up unwanted office space at a strong clip last year, any many were given loads of free rent and other financial perks for doing so.

380,000-square-foot industrial project planned east of Houston

Mon, 01/08/2018 - 02:47

National Property Holdings plans to build a 380,210-square-foot industrial project east of Houston.

Retail Wrap: Thistle Draftshop in Spring joins local craft beer scene

Fri, 01/05/2018 - 02:22
Mary Thorn has opened Thistle Draftshop, a craft beer bar and retail shop for take-home beer at 5210 FM 2920 near Gosling in Spring. Thorn, a former Saint Arnold Brewing Co. employee, will offer 60 beers on tap along with a restaurant. Chef Ernesto Villarreal, who previously worked downtown at The Grove, will prepare burgers and other fare. Plans call for adding patio space in the front in the spring, Thorn said. Regular daily hours are 11 a.m. to midnight. Alicia Heusdain of Century 21 Hardee-Team Realty represented Thistle Draftshop in the 5,000-square-foot lease. Terramont Realty represented the landlord. Woodway Square Center on Woodway at Winrock has gained new tenants: Baskin Robbins (Mymuujiza Corp.

Real estate in brief: Greenway Commons is sold

Fri, 01/05/2018 - 02:22
LaSalle Investment Management has acquired the Costco-anchored Greenway Commons retail center at 3830 Richmond near Greenway Plaza through its LaSalle Property Fund. The center, built in 2008, is fully leased to a mix of restaurant, medical and retailers including LA Fitness, Memorial Hermann, Iberiabank, Buffalo Wild Wings and Panda Express. It was last purchased by a joint venture of DDR Corp. and Blackstone Group in 2014. West Mermis has leased 6,974 square feet at 1301 McKinney. Kevin Poynter and Peyton Poynter of Poynter Commercial Properties Corp. represented the tenant. Debra Wilson with CBRE represented the landlord.

The craziest home sales of 2017, from San Francisco to St. Barth's

Fri, 01/05/2018 - 02:22
This was an odd year for real estate, particularly at the very top of the market. Certain regions saw record-breaking listings but sparse sales. Others saw brisk business for the merely wealthy and stagnant sales at levels only the super-rich can afford. There was a backlash against mega-mansions but not mega-prices. It was a year in which billions changed hands, but very few records were set. The following are some of this year's most interesting sales. 1 The Girasol estate in St.

20 Houston commercial real estate headlines in 2017

Fri, 01/05/2018 - 02:22

A collection of 20 significant deals and trends in Houston commercial real estate headlines this year: Brookfield closes on mega downtown deal; Howard Hughes Corp. breaks ground on The Woodland Hills; Target unveils next-gen retail store in Richmond; and more.

Houston's housing stock tops $393 billion, Zillow reports

Fri, 01/05/2018 - 02:22

Collectively, homes in the Houston metro totaled $393.4 billion in value in 2017, up 5.4 percent over the past year, according to an analysis by Zillow. That outpaced last year's gain, when the total value of homes in the Houston market went up 1.2 percent.

The figures compares with a 6.5 percent gain for the U.S. housing stock, which added $2 trillion in value 2017 for a total of $31.8 trillion, according to Zillow. Three cities contributed more than $1 trillion each to the tally: Los Angeles ($2.7 trillion), New York ($2.6 trillion), and San Francisco ($1.4 trillion).

Louetta Penthouse adds new office, co-working option in Spring

Fri, 01/05/2018 - 02:22

YC Properties is opening a Louetta Penthouse, a four-story office and retail building at 8917 Louetta Spring in the Vintage Park area.

Events luxury gift store to leave River Oaks Shopping Center after 30 years

Wed, 01/03/2018 - 02:22

Events, a staple of River Oaks Shopping Center selling luxury gifts, home items and stationery for 30 years, will get a new home in 2018. The locally-owned retailer will move to a new River Oaks area store at 2439 Westheimer, east of Kirby Drive. The move comes as Weingarten Realty prepares to break ground on a 30-story residential tower on a portion of the shopping center that housed Local Pour and Café Ginger. The nearby tower will be east of Events on West Gray at Driscoll Street.

Costco-anchored retail center near Greenway Plaza changes hands

Wed, 01/03/2018 - 02:22

LaSalle Investment Management has acquired the Costco-anchored Greenway Commons retail center at 3830 Richmond Avenue near Greenway Plaza through its LaSalle Property Fund.

U.S. home sales climb to an 11-year high

Wed, 01/03/2018 - 02:22

WASHINGTON - Americans purchased homes at the fastest pace in nearly 11 years, as sales climbed 5.6 percent in November. The National Association of Realtors said this past week that sales of existing homes rose last month to a seasonally adjusted annual rate of 5.81 million units. Home sales were last this strong in December 2006, when properties sold at annual pace of 6.42 million. The strong demand for buying homes is a sign of an increasingly vibrant economy after a steady eight-year expansion. The unemployment rate has fallen to a 17-year low, while more people in the younger millennial generation appear to be forming their own households and looking for places to buy.

Tax bill keeps historic tax credit that saved some of Houston's oldest buildings

Wed, 01/03/2018 - 02:22

The Federal Historic Tax credit developers often use to rehab old buildings had been on the chopping block in an earlier version of the tax reform bill, but it was put back in the package headed to the President's desk for signature.

Deal of the Week: Indiana company buys Pasadena distribution center

Wed, 01/03/2018 - 02:22

Indianapolis-based Duke Realty Corp. has gained a 772,500-square-foot property in Pasadena with the purchase of Bayport Distribution Center II near Port Houston. The property, consisting of two warehouses on 42 acres at 4331 and 4033 Underwood Road, is fully leased by Supply Chain Management, St. George Logistics and IDC. Mountain West Industrial Properties, which also operates in the Denver and Phoenix markets, sold the buildings. HFF's Trent Agnew, Rusty Tamlyn and Dane Petersen marketed the property for Mountain West and its institutional partner. Built in 2008, Bayport Distribution Center II consists of a 600,000-square-foot building and a 172,500-square-foot building with clear heights ranging from 24 to 30 feet.

Real estate in brief: Leases bring Galleria Office Tower I to 85% occupancy

Wed, 01/03/2018 - 02:22
Galleria Office Tower I, a 493,456-square-foo­t renovated building at 2700 Post Oak Blvd., is 85 percent leased after two deals, according to Colvill Office Properties. BKD, a CPA firm represented by CBRE's Lucian Bukowski and Nicholas Bockhorn, has leased 29,690 square feet. Lucas Associates, an executive recruiting firm represented by CBRE's Bill Boyer and Collin Grimes, has leased 14,174 square feet. Brad Beasley and Win Haggard of Colvill Office Properties represented the landlord. The building is owned by Azrieli Group and Unilev Capital Corp. Talos Energy has leased 98,000 square feet in Three Allen Center for relocation of its headquarters from One Allen Center.

Talos Energy relocates to larger space in Allen Center

Wed, 01/03/2018 - 02:22

Talos Energy relocates to larger space in Allen Center

Storage Wars: Houston tops Dallas for most Public Storage space in Texas

Wed, 01/03/2018 - 02:22

Public Storage added more than 1 million square feet of storage space to the Houston market in 2017, the company announced. With the additions, Houston eclipsed Dallas as the company's largest market in Texas by more than 500,000 square feet.

Spec industrial park in southwest Houston nears lease up

Mon, 01/01/2018 - 02:29

Stafford Grove Industrial Park is 85 percent occupied, and has a 20,450-square-foot space and a 34,100-square-foot space remaining for lease.

Renovated Galleria 1 office building lands two tenants

Thu, 12/28/2017 - 02:18

BKD and Lucas Associates have signed up for offices in the renovated Galleria Office Tower I.