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Houston housing market sees gains in lower-end of market

Greater Houston Real Estate - Thu, 12/21/2017 - 02:18

Homes priced between $100,000 and $250,000 saw the strongest sales gains while demand for luxury homes declined compared with last year, according to the latest report from the Houston Association of Realtors.

Beck Redden renews lease in Houston Center complex

Greater Houston Real Estate - Thu, 12/21/2017 - 02:18

Houston litigation firm Beck Redden has renewed its lease on the top two floors of LyondellBasell Tower in downtown's Houston Center for 10 years.

Judge signs emergency order against Montrose Management District

Greater Houston Real Estate - Thu, 12/21/2017 - 02:18
A district court judge on Monday signed an emergency temporary restraining order preventing the embattled Montrose Management District from issuing, collecting or spending assessments from commercial property owners in the Houston neighborhood. An attorney representing property owners in two lawsuits against the district filed the order after learning it was planning to hold a board meeting Monday to discuss assessments and other matters. The Montrose Management District is one of dozens in the Houston area created by the Legislature to promote economic development and make improvements to public areas in individual neighborhoods. Commercial property owners help pay for the improvements through assessments.

Houston developers announce Market at Houston Heights project

Greater Houston Real Estate - Thu, 12/21/2017 - 02:18

Capital Retail Properties and Wile Interests have teamed up to transform 1.7 acres along North Shepherd Drive, south of 16th Street, into a 30,000-square-foot lifestyle center that will bring services and restaurants to a rapidly changing area of the Houston Heights.

Sweet Paris crêpe shop to open three more locations

Greater Houston Real Estate - Tue, 12/19/2017 - 02:21

Sweet Paris Crêperie & Café plans to open three more Texas locations in the spring of 2018. The Houston-based restaurant, which opened in Rice Village five years ago, has other locations in CityCentre and Nuevo Vallarta, Mexico.

Valcap Group buys Katy apartment complex

Greater Houston Real Estate - Tue, 12/19/2017 - 02:21

Valcap Group has purchased the Remington Katy, a 352-unit apartment complex at 22631 Colonial Parkway near Interstate 10 and the Grand Parkway, in an off-market transaction.

Investors acquire former Weatherford campus in north Houston

Greater Houston Real Estate - Tue, 12/19/2017 - 02:21

A group of local investors has acquired a former Weatherford campus north of Houston.

Retail Wrap: Clute shopping center opens wide for dentistry practice

Greater Houston Real Estate - Tue, 12/19/2017 - 02:21
Woodshore Family Dentistry has leased 2,160 square feet in Woodshore Marketplace, a community center anchored Kroger Marketplace at the southeast corner of Oyster Creek Drive and Dixie Drive in Clute. Kyle Knight and Brett Levinson with Weitzman represented the landlord. Drew Etheridge with Xite Realty represented the tenant. Verizon Wireless has leased a 3,000-square-foot building at 5440 Memorial Drive. The Rama Cos., a local firm led by Amir Taghdisi, developed the building on the site of the former Pollo Bravo restaurant. Move-in is planned by February. Josh Jacobs and Lauren Heiman with Edge Realty represented the landlord. Jeffrey Hayes and Caroline Howell with NewQuest Properties represented the tenant.

Real estate in brief: Commerce Green Office Park fully leased in Sugar Land

Greater Houston Real Estate - Tue, 12/19/2017 - 02:21
The Commerce Green Office Park in Sugar Land is now fully leased after deals totaling more than 30,000 square feet at 245 Commerce Green Blvd. The park, off U.S. 59 at Sugarcreek Boulevard and Commerce Green, has a 50,000-square-foot two-story multitenant building as well as three single-occupant buildings. Kevin Poynter and Peyton Poynter of Poynter Commercial Properties Corp. represented the landlord, Commerce Green Associates, in the deals. The latest deals include: Wells Chappell and Co. (1,341 square feet); Charlene J. Rogers, MA, LPC, represented by Pat Pollan (882 square feet); Pollan Hausman Real Estate Services; Community Impact Newspaper, represented by Blake Virgilio and Keith Grothaus of Caldwell Cos.

Chicago investor acquires Houston industrial park

Greater Houston Real Estate - Thu, 12/14/2017 - 02:19

Brennan Investment Group has acquired an industrial park in northwest Houston.

Hines debuts luxe apartment tower

Greater Houston Real Estate - Thu, 12/14/2017 - 02:19

Houston-based Hines is betting its success in the office market will carry over to the residential side.

Harvey damage could force hundreds in Houston area to raise their homes

Greater Houston Real Estate - Thu, 12/14/2017 - 02:19

More than 1,600 Houston property owners who flooded during Hurricane Harvey will likely be forced to elevate their homes if they want to continue living there. The city's Public Works Department is preparing to notify property owners in floodplains that their structures have been declared "substantially damaged" and will required additional repairs to comply with current building codes. For most, that will mean physically raising their properties, a pricey upgrade that can cost well more than $150,000. The 1,611 letters that start going out this month will be the "first batch" for properties identified as damaged so severely that repairs would cost more than 50 percent of the market value of the structure, excluding the land.

Report: Marathon Oil Tower in talks to be sold

Greater Houston Real Estate - Thu, 12/14/2017 - 02:19

A partnership including a Houston-based real estate firm is in talks to buy Marathon Oil Tower for $175 million, an industry publication reported this week.

U.S. new-home sales pick up the pace

Greater Houston Real Estate - Thu, 12/14/2017 - 02:19
WASHINGTON - Americans bought new homes in October at the fastest pace in a decade - a 6.2 percent monthly increase that reflects both the underlying strength of the economy and the worsening shortage of existing homes for sale. The Commerce Department said this past week that new-home sales in October rose to a seasonally adjusted annual rate of 685,000. That marks the third straight monthly gain and the best sales clip since October 2007. Much of the sales growth came from the Northeast and Midwest, with the South and West posting smaller increases. Many buyers are turning to new construction because there is a shrinking supply of existing homes for sale. But new construction has been unable to keep up with demand.

Deal of the week: Tower above Hermann Park finds buyer

Greater Houston Real Estate - Thu, 12/14/2017 - 02:19
One of the twin residential towers perched above Hermann Park just off Texas 288 has been sold to a joint venture that has rebranded the property and taken over management and leasing. PGIM Real Estate and Houston-based Hanover Co. formed a joint venture to acquire the upscale building, previously known as Mosaic at Hermann Park. The 29-story tower is now known as Hanover Hermann Park. The other tower is still called Mosaic. Hanover will handle leasing, operations and management for the 396 apartments in its tower. The building also has 20,087 square feet of first-floor retail space.

Retail Wrap: Creamistry is in expansion mode locally

Greater Houston Real Estate - Tue, 12/12/2017 - 02:28
Creamistry, a California-based chain serving ice cream made on the spot using liquid nitrogen and custom mix-ins, will open a shop at Town & Country Village in west Houston in mid December. The store, at 791 Town & Country Blvd., Suite 140, will be owned and operated by franchisees Mohammed Albanaa and James Alaskare. The duo plans at least three more locations over the next two years. Creamistry has other area locations on Westheimer across from the Galleria and in Katy. Dr. Dipak Kalani has purchased 1.27 acres at Kirby Drive and Shadow Creek Parkway in Shadow Creek Ranch Village, Pearland. Bob Conwell and Brad Elmore of NewQuest Properties represented the seller, CG-Shadow Creek Ranch Village LP.

Real estate in brief: Contemporary Services inks South Loop lease expansion

Greater Houston Real Estate - Tue, 12/12/2017 - 02:28
CDI Corp. has renewed a 19,337-square-foot office lease at Westchase Place, 11200 Richmond. Bubba Harkins and Russell Hodges of JLL represented the landlord, CREA Investments. Jon Lee with CBRE represented the tenant. Contemporary Services Corp., a provider of event security for NRG Stadium, has signed a 5,684-square-foot lease expansion at 2656 South Loop West. Zach Leger and Jacob Aldridge of NAI Partners represented landlord, Forbes Land Corp. DivisionOne Construction has leased an 8,200-square-foot office building at 11280 West Road. Gloria Parrino of Betz Commercial Brokerage represented the landlord, TAG Texas Property Holdings. Reed Vestal of Lee & Associates represented the tenant.

Upper Kirby mixed-use project inks first office leases

Greater Houston Real Estate - Mon, 12/11/2017 - 02:22

Thor Equities has inked its first office leases within Kirby Collection, a large mixed-use project under construction in Upper Kirby. The New York developer signed long-term leases with Hancock Whitney Bank, Novum Energy Trading and Regency Centers totalling 36,775 square feet. The deals are indicative of companies' growing appetite for office space within larger mixed-use projects where workers can not only work, but live, eat and play. Move-ins are expected to begin in the second quarter of 2018. "All three tenants were attracted to the project's highly desirable location, attractive amenities and modern design," Melissa Gliatta, COO of Thor Equities, said in a statement.

Quantum Energy Partners leases Capitol Tower's top floor

Greater Houston Real Estate - Mon, 12/11/2017 - 02:22

Quantum Energy Partners has leased the top floor of Capitol Tower, a Class A office building in downtown Houston.

Falcon Steel America to open large factory in Conroe

Greater Houston Real Estate - Mon, 12/11/2017 - 02:22

Falcon Steel America plans to open a new factory in Conroe that will increase its manufacturing capacity by 60 percent.

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