Grand Opening: Robotics Innovation Center at Texas Medical Center

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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

How Amazon and E-Commerce Shaped Houston Warehousing: Q&A with Robert Clay

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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

Tariffs Drive Manufacturer to Expand Operations in Houston

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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

Houston Apartment Market Update: Recovery Begins but Slow Progress Ahead

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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

Realtors Halt Open Houses as HAR.com Removes Listings Amid Coronavirus

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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 Home Sales Surge in March: Record-Breaking Real Estate Month

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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 Hotel Sold in Houston’s Energy Corridor: Sale Details

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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 Office Building Sells for Major Downtown Redevelopment

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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

Downtown Houston’s New Calculus: Q&A with CBRE’s Sanford Criner

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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 Apartments Change Hands: What Buyers Paid and Why

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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