Chip Colvill HOUSTON – (Realty News Report) – Houston faces an abundance of office space, with more than 50 million square feet currently vacant. Most analysts place the overall office vacancy rate above 21 percent, while the Energy Corridor exceeds 30 percent. Downtown also shows elevated vacancy. How are building owners responding to keep their … Read more

Avera Construction has broken ground on a new 30,000-square-foot warehouse on a 7.2-acre site in Deer Park, less than 10 miles from the Port of Houston. The single-story, design-build metal building will include office space and a workshop for Atlas Copco Rental, LLC, the Swedish manufacturer of industrial tools and equipment. …………………………………………………… EDGE Realty Capital … Read more

Office buildings and The Acre green space along Smith Street in downtown Houston. HOUSTON – With the arrival of April, construction fencing returned to Allen Center as Brookfield Properties begins Phase II of its multi-year redevelopment, now focusing on Two and Three Allen Center. The ongoing initiative, titled “Reimaging Allen Center,” is a multi-phased transformation … Read more

Charles Herder HOUSTON – (Realty News Report) – True to its nickname, Space City has an abundance of office space, and vacancy numbers are rising. Colliers International reports that Houston’s citywide vacancy rate reached 21.7 percent in the second quarter, up from 18.8 percent in Q2 2017. A growing sublease overhang, intensified by Occidental Petroleum’s … Read more

HOUSTON – (Realty News Report) – Microsoft Corporation will be a major tenant at The Ion, the innovation hub created by converting the old Midtown Sears building into a collaborative center managed by Rice Management Company, a subsidiary of Rice University. “Having Microsoft as a major tenant is a significant step toward realizing The Ion’s … Read more

Lawrence Yun, chief economist of NAR, addresses a press conference at the NAR convention in Chicago Friday. Photo credit: Ralph Bivins, Realty News Report HOUSTON – Houston’s housing market showed signs of recovery in October as the region continued to rebound from Hurricane Harvey and the devastating 50 inches of rain it dumped across the … Read more

The 5757 Woodway building has been acquired by a Braun Enterprises partnership. HOUSTON — A partnership led by Houston-based Braun Enterprises has acquired 5757 Woodway, a 162,188-square-foot office building located near the Memorial area and the Galleria. Danny Miller and Marty Hogan of HFF represented the seller, Woodway Office Partners, LLC, a joint venture sponsored … Read more

Ed Emmett HOUSTON – (Realty News Report) – Hurricane Harvey made landfall on Aug. 25, 2017, and inundated southeast Texas for days. Harris County Judge Ed Emmett, a visible leader during the storm, has led efforts to address the region’s chronic flooding. The Commissioners Court has called a bond election for Aug. 25 for the … Read more

The Union Dallas was sold to a Korea-based group. DALLAS – KB Asset Management, a Seoul-based investment firm, has acquired The Union Dallas for a reported $370 million. The Union Dallas is a three-building, 866,273-square-foot mixed-use development located in Uptown Dallas. The seller, RED Development, was represented by JLL. RED Development will retain a minority … Read more

Rendering of 80,000 SF office building that will house the headquarters of hotel developer. GRAPEVINE, Texas – NewcrestImage, a hotel and real estate developer, has begun construction on an 80,000-square-foot, four-story office building within its 52-acre SilverLake Crossings master-planned community, located about two miles north of Dallas/Fort Worth International Airport. The company plans to occupy … Read more