Trey Odom PASADENA, Texas – Avera Cos. has announced plans to develop a 148,000-square-foot distribution facility on an 11.8-acre parcel at the intersection of Highway 225 and Red Bluff Road in Pasadena, on Houston’s southeast side. The site was recently acquired by Avera and will serve the growing logistics demand in the area. Headquartered in … Read more

The Memorial Hermann Medical Plaza has been sold for $405 million. HOUSTON — LaSalle Property Fund has purchased the 28-story Memorial Hermann Medical Plaza located in the Texas Medical Center. The seller was a partnership led by Mischer Healthcare and Memorial Hermann Health System, along with other investors. That ownership group originally opened the 510,000-square-foot … Read more

HOUSTON – (Realty News Report) – Hines, in partnership with Tucson-based Watermark Retirement Communities, is developing a seven-story senior living community in the Heights neighborhood. The project, named The Watermark at Houston Heights, will include 222 residences and is scheduled to open in January. The building occupies a site of less than two acres at … Read more

In Houston, Midway highlights an appeal to get Amazon to select its East River development for Amazon’s second headquarters. HOUSTON – Rice University, which controls the former Sears building and nearly 10 acres around it in Houston’s Midtown, is backing the city’s bid to host Amazon’s proposed second headquarters. Thursday marked the deadline for cities … Read more

HOUSTON – (By Dale King, Realty News Report) – Houston’s apartment rents fell 3.5 percent in 2020 as the coronavirus pandemic dealt a major blow to the economy. According to the January 2021 Houston Rent Report from Apartment List, the average cost of leasing an apartment in the Bayou City has not risen since before … Read more

HOUSTON – (Realty News Report) – Stream Realty Partners announced plans to double hiring in its industrial division by the end of next year as demand for industrial space continues to accelerate. “We successfully lease and manage a 30 million square-foot portfolio of institutional-grade industrial assets in the Houston market. We attribute that achievement to … Read more

METRO’s Cindy Siegel addresses Bellaire meeting. BELLAIRE, Texas – (By Michelle Leigh Smith for Realty News Report) – Local business owners in the Bellaire area were encouraged when former Bellaire Mayor and METRO board member Cindy Siegel announced plans to relocate the Bellaire Transit Center, the hub where riders transfer to METRO buses. The existing … Read more

Mark Davis, Davis Commercial HOUSTON (By Michelle Leigh Smith) – Change is on the horizon for Westheimer Road, the primary east-west corridor through Houston’s vibrant Montrose neighborhood near downtown. The City of Houston’s planning department envisions “Lower Westheimer” as an urban main street with an enhanced pedestrian experience that supports transit, improves access to local … Read more

Patrinely Group is developing a 150,000-SF speculative office building in Springwoods Village. HOUSTON – A joint venture led by Patrinely Group, together with USAA Real Estate and CDC Houston, has broken ground on CityPlace 1, a 149,600-square-foot office development. CityPlace 1 sits within Springwoods Village, a 2,000-acre mixed-use community in north Harris County that also … Read more

In Houston, Midway highlights an appeal to get Amazon to select its East River development for Amazon’s second headquarters. HOUSTON – Houston has not yet formally submitted its proposal for Amazon’s second headquarters, a project expected to create as many as 50,000 new jobs. Nevertheless, city economic development leaders say they are assembling a strong, … Read more