CBRE to leave downtown Houston, consolidate in Williams Tower

Los Angeles-based CBRE Group Inc. (NYSE: CBG), a global real estate firm and the largest commercial real estate brokerage in Houston, is consolidating its three Bayou City offices into Williams Tower.

CBRE will vacate its offices in Bank of America Center and at 2700 Post Oak Blvd. and move into Williams Tower, per a company release. At Williams Tower, the brokerage renewed and expanded its lease to 77,000 square feet. CBRE’s space at Bank of America Center is available for sublease, the spokesperson said, and company is marketing the space. It’s unclear how much space the company’s is vacating.

Click to read more at Houston Business Journal.

Houston electricity co. subleases Galleria-area space from Baker Hughes for HQ expansion

Frontier Utilities, a Houston-based provider of electricity and related services, will move its headquarters into Galleria-area space it’s subleasing from Houston-based Baker Hughes Inc.

The move will more than double the size of Frontier’s headquarters and allow for future growth, according to CBRE.

Click to read more at Houston Business Journal.

Stream, AMD to develop medical office building in Memorial Villages area

Dallas-based Stream Realty Partners LP announced June 15 plans for Memorial Medical Pavilion, a new five-story medical office building in the Memorial Villages area.

Stream will partner on the project with Houston-based development firm AMD Global LLC. A joint venture between Stream, AMD and Diamond Realty Investments Inc., the real estate investment arm of Mitsubishi Corp., closed on a 2-acre site for the project on June 6.

Click to read more at Houston Business Journal.

Deal of the Week: Kirby Corp. to buy Stewart & Stevenson for $710M, future deals possible

The skinny

Houston-based Kirby Corp. (NYSE: KEX) will acquire Stewart & Stevenson LLC, a subsidiary of Houston-based Parman Capital Group, for about $710 million. The deal will diversify Kirby’s business lines and expand its footprint. Additionally, Kirby executives are eyeing future acquisitions.

Click to read more at Houston Business Journal.

Major chemical co., local furniture co. ink industrial leases in Houston

The U.S. branch of Tokyo-based chemical company Kuraray Co. Ltd. signed a huge lease at a brand-new industrial park in Houston, while a local ready-to-assemble furniture company inked a warehouse lease to expand its distribution operations.

Both leases were announced June 6.

Click to read more at Houston Business Journal.