New retail building, new tenants slated at intersection near Highland Village

New development and a flurry of new retail activity is expected around Weslayan and West Alabama Streets.

A new building is slated for that corner, joining existing retail and restaurant space that will be revamped and ground-floor space in a new apartment tower.

Click to read more at Houston Business Journal.


Behind the deal: Why two Houston multifamily firms formed a joint venture

Two Houston multifamily firms are joining forces to sharpen each company’s focus on investment and management services.

Crossbeam Capital and Portico Property Management recently announced a joint venture, which will affect more than 6,200 apartment units in six states, the majority of them in Houston.

Click to read more at Houston Business Journal.


Former Exxon Mobil campus in Greenway Plaza area sold

A former Exxon Mobil Corp. property that’s been on the market for more than two years has been sold.

New York- and San Francisco-based Spear Street Capital and Houston-based Transwestern Development Co. announced the acquisition of 16.88 acres at 3120 Buffalo Speedway on March 8. Ronnie Deyo, Rudy Hubbard and Kevin McConnwith Jones Lang LaSalle marketed the property for Irving, Texas-based Exxon Mobil (NYSE: XOM). No further details were immediately available.

Click to read more at Houston Business Journal.


Houston megachurch to buy downtown office building for expansion

Houston’s First Baptist Church is preparing to expand its downtown presence significantly.

The megachurch plans to buy a 40,000-square-foot office building at 1730 Jefferson, which covers an entire city block in the southern corner of downtown near Interstate 45 and Interstate 69/Highway 59, according to First Baptist’s website.

Click to read more at Houston Business Journal.


Wealth management co. expands in recently renovated downtown tower

In a move that’s indicative of Houston tenants’ demand for high-quality office space, a wealth management company plans to vacate its un-renovated space at 1801 Smith Street and move into more than 20,000 square feet of newly upgraded space in the same building.

Click to read more at Houston Business Journal.