First Colony Commons has been purchased by TriGate Capital of Dallas. HOUSTON — Holliday Fenoglio Fowler, L.P. (HFF) has closed the sale of First Colony Commons, a 410,121-square-foot retail power center anchored by multiple big-box tenants in Sugar Land, a suburb southwest of Houston. HFF represented the seller, Covington Realty Partners, a Chicago-based investment firm. … Read more
The Sterling Plaza office building has been sold. Photo credit: Lee & Associates – Houston. HOUSTON – Tristar Alliance Properties, based in Houston, has acquired the Sterling Plaza office building in Southwest Houston and intends to undertake substantial renovations, according to Lee & Associates – Houston. The property is a 102,292-square-foot, Class B office building … Read more
PASADENA, Texas – (Realty News Report) – Dunavant Distribution Group is expanding its footprint with a new 784,000-square-foot industrial lease, one of the largest warehouse transactions in the Houston region in recent years. John Nicholson of Colliers International represented Dunavant Distribution Group in the transaction. The landlord, PEPF Red Bluff, was represented by Justin Robinson … Read more
The 96-unit Pine Lake Village apartment community has been sold. HOUSTON – Three Pillars Capital Group, a Houston-based multifamily real estate investment firm, has acquired Pine Lake Village Apartments located in the Greenspoint neighborhood of Houston. “This acquisition was completed through existing relationships in a genuine off-market transaction,” said Josh Welch, founder and managing principal … Read more
Occidental Petroleum headquarters in Houston. Photo: Ralph Bivins of Realty News Report. HOUSTON – (Realty News Report) – Occidental Petroleum has reversed its plan to relocate its headquarters to the Energy Corridor and will sell the recently acquired campus instead, a company official confirmed. CFO Cedric Burgher, speaking at an energy conference in Denver, said … Read more
Greens Crossing HOUSTON — Vantiv LLC, a Cincinnati-based payment processing company, has leased 41,000 square feet of office space at Reserve at Greens Crossing, located in the Greenspoint area north of Houston. Transwestern brokers Michelle Wogan and Monte Calvert negotiated the lease on behalf of the property owners, a joint venture between Miami-based Banyan Street … Read more
NEW YORK – (Realty News Report) – Texas and Florida led the rankings of the nation’s strongest office markets, according to the National Association of Realtors’ Commercial Market Insights report released Monday. Since the second quarter of 2020, vacancy rates have fallen across multifamily, industrial and retail sectors. Year-over-year asking rents increased for multifamily (11%), … Read more
John Furnace Cresa, the world’s largest tenant-only commercial real estate firm, has continued its global expansion by adding two new professionals to its Houston office. John Furnace, formerly with Newmark Knight Frank, joins Cresa as a vice president and will oversee all phases of project management in the Houston market. Bryan Strong has been hired … Read more
ANGLETON, Texas – A Tesla subsidiary, Gambit Energy Storage, is building a large utility-scale battery facility that will connect to the Texas electric grid, according to recent reports. The project is a 100-megawatt energy storage installation that, at peak discharge, could supply power to roughly 20,000 homes on a typical summer day, Bloomberg News reported. … Read more
Mike Spears Houston is increasingly recognized as a major distribution hub. Large new industrial facilities are rising across the region as e-commerce reshapes retail and drives demand for warehouse and logistics space. To understand how these forces are affecting Houston’s industrial market, Realty News Report spoke with Mike Spears, managing principal of Lee & Associates’ … Read more