Houston
MARKET SNAPSHOT: Demand in Houston Still Strong as Economy Prospers
Strongly supported by a thriving energy sector as well as a robust multi-family industry, Houston’s economy is expected to experience further growth throughout 2014.
PM Realty, Atlas USA to Redevelop $1B M-U Site in Houston
PM Realty Group and financial partner Atlas U.S.A. Holdings will undertake the redevelopment of a 35-acre parcel in Houston’s Energy Corridor that is currently the location of ExxonMobil Chemical Co.
Brookhollow Central II & III Awarded LEED Gold; Skanska’s Capitol Tower Earns LEED v4 Platinum Pre-Certification
Brookhollow Central II and III, two office properties in Houston’s Brookhollow Central campus, along with Buckhead Tower at Lenox Square in Atlanta, Georgia, have been recently awarded LEED™ Gold Certification for Existing Buildings: Operations and Maintenance by the U.S. Green Building Council.
W.P. Carey Expands Houston Footprint with 22-Story Office Acquisition; New Hyatt Place Opens in The Woodlands
W. P. Carey Inc., a real estate investment trust specializing in corporate sale-leaseback financing, build-to-suit financing and the acquisition of single-tenant net-lease properties, announced two acquisitions completed on behalf of its managed REITs at year-end 2013.
200-Unit Luxury Apartment Complex Changes Hands
A multifamily apartment complex in the Greater Houston area has recently changed hands. Marcus & Millichap Real Estate Investment Services announced on December 23 it has arranged the sale of The Palms at Cinco Ranch in Richmond, Texas, 15 miles southwest of Houston. The terms of the sale were not disclosed.
Exxon to Expand Houston Footprint, Inking 478,000-SF Lease
Exxon Mobil Corporation inked a deal to lease approximately 478,000 square feet of office space at Hughes Landing, a 66-acre mixed-use community situated on Lake Woodlands.
Morgan to Break Ground on Luxury Apartment Community
The Morgan Group, Inc., a leader in high-end multifamily development, construction, and property management, announced plans to add another amenity-rich residential complex to its Houston portfolio under the Pearl brand.
Joint Venture Awarded $90M Contract with HISD; Rigid Breaks Ground on New Manufacturing Facility
B3Ci, a joint venture comprised of Balfour Beatty Construction and 3Ci, have been awarded by the Houston Independent School District (HISD) a construction services contract valued at $90 million, as part of the 2012 HISD Bond Program.
Hines Tapped to Manage 1001 McKinney; Groundbreaking Set for Mid-Main Project
Silverpeak Real Estate Partners and Cameron Management tapped Hines, the international real estate company, to handle property management for 1001 McKinney, a 23-story building in the heart of downtown Houston.
Intercontinental Acquires Sawyer Heights Lofts for $61.6M; Construction Underway on Phillips 66 Corporate Campus
Boston, MA-based Intercontinental Real Estate Corporation, a national real estate investment, development, and management firm, acquired the Sawyer Heights Lofts, a 326-unit apartment community in Houston’s Downtown/West Inner Loop for $61.6 million.