ABB robot. HOUSTON – (By Michelle Leigh Smith for Realty News Report) – Collaboration took center stage when the ABB Robotics team discovered that their $40,000 dual-arm robot, YuMi—excellent at repetitive, delicate tasks—couldn’t cut the ceremonial ribbon at the opening of ABB’s first global healthcare research hub at the Texas Medical Center Innovation Institute. That’s … Read more
Robert Clay HOUSTON – Houston’s industrial real estate sector is undergoing notable change. Once among the region’s most resilient property types, the industrial market now faces shifts driven by e-commerce growth, new distribution demand and the ongoing expansion of the petrochemical corridor on the city’s east side. Major online retailers are reshaping logistics and warehouse … Read more
HOUSTON – (Realty News Report) – World Emblem, a leading manufacturer of emblems and patches, is opening a new factory in Houston as it shifts production in response to recent federal tariffs. “We are committed to growing our U.S. manufacturing footprint, which will not only reduce tariff costs and improve supply chain efficiency, but also … Read more
Stacy Hunt of Greystar moderated the Houston Apartment Association’s State of the Industry breakfast last week. Hunt is a former president of HAA and the Texas Apartment Association. HOUSTON – Houston’s multifamily market is expected to struggle through 2017, with upscale Class A properties facing the most pressure, according to speakers at the Houston Apartment … Read more
John Nugent, chairman of the Houston Association of Realtors HOUSTON — (Realty News Report) — The HAR.com website, which lists thousands of homes for sale across Texas, has suspended display notices for open house events in response to the coronavirus outbreak. Most national real estate franchises and many large brokerage firms have either canceled in-person … Read more
HOUSTON — (By Michelle Leigh Smith for Realty News Report) — Home sales in Houston surged to a record high in March, with transactions rising 24.4 percent compared with March of last year, according to the Houston Association of Realtors. Historically low mortgage rates have driven buyers toward the market with urgency. The awareness that … Read more
Hyatt House Energy Corridor HOUSTON – The Hyatt House Houston Energy Corridor, a 116-room extended-stay hotel located at 15405 Katy Freeway in west Houston, has been sold, according to CBRE. Energy Corridor Hotels LLC, a Houston-based firm, purchased the property from Driftwood Hospitality, a Florida-based company, for an undisclosed sum. CBRE representatives Michael Yu, Rahul … Read more
HOUSTON – (Realty News Report) – 1220 Augusta LLC, a Houston-based investment group, has purchased a 112,867-square-foot office building located just west of the Galleria area. Colliers brokers Christopher D. Winters and Jay Kyle represented the seller in the transaction. The mid-rise building was originally constructed in 1983. “Despite the challenges faced by the office … Read more
Sanford Criner HOUSTON – (Realty News Report) – Understanding downtown Houston’s office market today requires a new perspective. Vacancy rates remain elevated, yet developers are moving forward with major projects: Hines has begun construction on a 47-story tower, and Skanska is building the 750,000-square-foot Capital Tower. To explain current conditions in the Central Business District … Read more
SOUTHSIDE PLACE – (Realty News Report) – Madera Residential has purchased the 270-unit Alexan Southside apartment community at 4139 Bellaire Blvd. in Southside Place, an upscale neighborhood inside Houston’s Inner Loop. PCCP, LLC provided a $30 million senior loan to Madera Residential to finance the acquisition. “Alexan Southside enjoys a prime infill location between the … Read more