Sedona Ranch Apartments ODESSA, Texas – San Antonio-based Koontz Corp. has sold two multifamily developments in the Permian Basin of West Texas to Fort Worth-based Olympus Property. The announcement arrives as West Texas Intermediate crude surpassed $70 per barrel for the first time since 2014. “Our investments in the Midland-Odessa multifamily market have proven to … Read more

SEATTLE – (By Dale King, Realty News Report) – A new report from Seattle-based brokerage Redfin finds that nearly one in 10 U.S. homes—8.5 percent—now carries a valuation of $1 million or more, the highest share on record for seven-figure properties. That percentage is up from 7.6 percent a year earlier and more than double … Read more

Rendering of proposed export facility planned for Shoal Point in Texas City. TEXAS CITY, Texas — NextDecade has secured a 1,000-acre lease at Shoal Point, a deep-water location approximately 40 miles southeast of Houston near Galveston Bay, where the company plans to develop a multi-billion-dollar liquefied natural gas (LNG) export terminal. The Shoal Point property … Read more

Chevron sold this tract in the City of Bellaire. The new owner has a grand plan. BELLAIRE – (By Michelle Leigh Smith for Realty News Report) – Plans for the 30-acre Bellaire Place development, located on the former Chevron campus along Loop 610, continue to draw close scrutiny from the Bellaire Planning & Zoning Commission. … Read more

Rendering of the exterior upgrades planned for Heritage Plaza. Architecture: Kirksey HOUSTON – Brookfield Properties has announced a comprehensive renovation of the 53-story Heritage Plaza, a 1.1 million-square-foot tower at 1111 Bagby in downtown Houston. This project is part of a larger Brookfield initiative to modernize its downtown holdings, which include two multi-building office campuses: … Read more

HOUSTON – (Realty News Report) – Economist Jeff Havsy, commercial real estate industry practice lead at Moody’s, predicts the Federal Reserve will announce a quarter-percentage-point interest-rate cut on Wednesday. Speaking at the CommGate Economic Outlook event last week at the Houston Country Club, Havsy discussed conditions across office and retail markets. Office vacancy rates have … Read more

Rendering of Skanska’s Bank of America Tower, designed by Gensler. HOUSTON – An affiliate of Beacon Capital Partners is acquiring a 90 percent interest in the 35-story Bank of America Tower for $373 million, Skanska, the developer of the downtown Houston project, announced. The 780,000-square-foot tower, completed in the summer of 2019, sits at 800 … Read more

STAFFORD – (Realty News Report) – The 34-acre Weatherford Farms nursery in Stafford has been sold to Crow Holdings, which plans to develop a large warehouse and distribution complex on the site. “Weatherford Farms has been a valued part of the Stafford community for more than 50 years,” said Jack Weatherford. “The property’s location is … Read more

Bill Gilmer HOUSTON – (By Michelle Leigh Smith for Realty News Report) – Houston’s economy has rebounded from the downturn and is steadily moving forward, economist Robert W. “Bill” Gilmer reported during the C.T. Bauer College of Business Institute for Regional Forecasting symposium held at the Hyatt Regency. “We’re in good shape in Houston,” Gilmer … Read more

Peter Mainguy HOUSTON – (Realty News Report) – CBRE has promoted Peter Mainguy to Senior Managing Director and Market Leader for its Houston office. In this role, Mainguy will oversee all Advisory Services lines of business and lead strategic initiatives to drive growth across the Houston market. Mainguy brings 14 years of commercial real estate … Read more