Downtown Houston’s top office buildings show promising upswing

Here’s some welcome news for downtown Houston landlords.

Downtown Houston, despite its historic reliance on the kind of tenant that’s reducing its footprint, has a lower vacancy rate than the city’s average vacancy rate of 22.4 percent, according to a recent report from Chicago-based JLL’sHouston office. The submarket posted promising leasing numbers and has started to attract serious investors, too, per the report.

Click to read more at Houston Business Journal. 

Gap between Dallas, Fort Worth widens with varying degrees of real estate performance

The gap between Dallas and Fort Worth has continued to widen — and it’s not just the age-old rivalry between the Big D and Cowtown — with office real estate fundamentals outperforming in the eastern portion of the Metroplex.

That’s because North Texas isn’t really one real estate market, said Peter Muoio, a chief economist at Ten-X, a research group that tracks the real estate industry throughout the United States.

Click to read more at Dallas Business Journal.

Chinese-based home goods retailer readying massive project in Frisco

A Chinese manufacturer of building materials, hardware and home goods is readying plans to make way for a massive retail hub along the U.S. 380 corridor in Frisco, sources say.

The real estate rumblings come after an affiliate of Lesso America Inc., a subsidiary of China Lesso Group Holdings Ltd., acquired two tracts of land totaling more than 76 acres in Frisco for a new mall development site in June 2016.

Click to read more at Dallas Business Journal.

This is why investors are putting money into Dallas’ skyline

Even with a big chunk of vacant office space in Dallas’ central business district — totaling more than 25 percent — some of the city’s well-located skyscrapers and walkable office towers are still garnering big rental hikes.

That’s tied to the professional services firms wanting to locate in Uptown and the northern part of downtown Dallas, said Brooke Armstrong, a senior vice president in JLL’s Dallas office.

Click to read more at Dallas Business Journal.

Developer to unveil second phase of massive master-planned community northwest of Houston

The Howard Hughes Corp. (NYSE: HHC) is launching the second phase of Bridgeland, an 11,400-acre master-planned community in Cypress, northwest of Houston.

The Dallas-based developer and its Houston-based subsidiary, The Woodlands Development Co., are set to unveil on July 24 more detailed plans, new renderings and the homebuilder lineup for Parkland Village, the second of four planned villages in Bridgeland. Stay tuned next week for more information about Bridgeland’s newest village.

Click to read more at Houston Business Journal.

Exclusive: ‘Big Four’ auditor plans major expansion in downtown Dallas

One of the Big Four auditors — KPMG LLP — has expanded its regional office in downtown Dallas to help it grow and keep pace with the booming North Texas region.

The professional services firm has leased an additional 11,430 square feet of space within its namesake office tower, KPMG Plaza at Hall Arts, which brings its total footprint in the Dallas Arts District to 193,430 square feet of office space spanning seven-and-a-half floors.

Click to read more at Dallas Business Journal.