National REIT sells local H-E-B, more grocery deals in the works

An H-E-B-anchored retail center in northeast Houston traded hands this week. An H-E-B-leased retail property going on the market is a rarity, but this deal is far from the only noteworthy grocery-anchored retail sale in the works.

The 101,791-square-foot H-E-B at the Market at Lake Houston Parkway in Atascocita sold for an undisclosed price to Los Angeles-based Westwood Financial Corp., a grocery-facing REIT, according to statement from HFF.

Click to read more at Houston Business Journal.

Houston firm buys North Dallas office property

Dallas-based real estate investor Caddo Holdings has sold one of its North Texas properties to Houston-based Tanglewood Property Group for an undisclosed sum.

The 31-year-old office building, called Preston Plaza, totals 259,009 square feet and sits at the intersection of Preston and Frankford roads in North Dallas.

At the time of the closing, the building was 91 percent occupied by office tenants, including Sovereign Bank, The Ayco Company and Progressive Casualty Insurance.

Click to read more at Houston Business Journal.

$83 million mixed-use development coming to downtown (renderings)

Downtown San Antonio may be adding another silhouette to its skyline soon.

Plans for a two-tower mixed-use project next to City Hall have surfaced, tentatively named Kallison Square. Sitting on a 1.4-acre lot along Dolorosa and South Flores streets, the planned 21-story development will feature a tower of residential and retail along Dolorosa Street and a tower of office space along Nueva Street.

Click to read more at San Antonio Business Journal.

Greenspoint Mall under contract

Greenspoint Mall, a long beleaguered shopping mall at the northeastern intersection of Interstate 45 and Beltway 8, is under contract.

The seller was Bob Yari, a Long Angeles-based real estate investor who’s owned three malls in the Houston area, North Houston District officials told the Houston Business Journal. The mall sold to a group of investors with Global Plaza Union, per the Houston Chronicle. The purchase price wasn’t disclosed.

Click to read more at Houston Business Journal.

More details revealed about Midtown building renovation

Current Standing Development has big plans for a mid-century modern office building in the heart of Midtown.

The Houston real estate firm, formerly known as PLC Capital Corp., plans to start renovation work this fall on the former Greensheet building, a 50,000-square-foot office building at 1000 McGowen Street, across from the Midtown “Super Block” Park. The four-story office building, which currently houses the weekly shopper paper, will be transformed into a mixed-use office, retail, bar and rooftop event space, said Brent Friedman, president of Current Standing.

Click to read more at Houston Business Journal.

Exclusive: Australian developer acquires more land in Midtown

Caydon Property Group has acquired more land in Midtown for a mixed-use project anchored by a luxury apartment tower.

The Melbourne, Australia-based developer purchased a 41,000-square-foot site on a half city block bounded by Main, Dennis and Fannin streets. Current Standing Developments — formerly known as PLC Capital Corp. — sold the property to Caydon for an undisclosed amount. The deal closed on Aug. 2.

Click to read more at Houston Business Journal.