20 Houston commercial real estate headlines in 2017

Longtime Houston investors and others new to the market pumped money into high-profile office properties across the region in 2017.

E-commerce continued to make an imprint on the local industrial market as Amazon expanded and developers added massive warehouses before securing tenants. Big-name grocery stores and even a longstanding farmers market prepared for upgrades befitting their urban location captured our attention.

 Following is a collection of 20 significant deals and trends in Houston commercial real estate headlines this year.
 
Click to read more at Houston Chronicle. 

Houston office exec: Investors ‘want to have a good story’

When it comes to the highs and lows of 2017, Preston Young called Houston’s commercial real estate market “a tale of two cities.”

Young, who serves as regional managing partner for Dallas-based Stream Realty Partners, noted the contrasting storylines in Houston’s office leasing market, which is still struggling under the weight of several million square feet of sublease space, and the office investment market, which saw a tenfold increase in deal volume compared to 2016. Houston’s office investment market saw $4 billion in assets trade hands in 2017, compared to $400 million in 2016.

Click to read more at Houston Business Journal. 

 

Houston developer’s long-awaited apartment tower in Upper Kirby underway

Hanover River Oaks — a luxury apartment tower originally proposed in 2014 — broke ground in Upper Kirby last month, according to Holliday Fenoglio Fowler LP.

HFF announced Jan. 4 that it represented Houston-based Hanover Co. and institutional investors advised by J.P. Morgan Asset Management to capitalize the equity and construction financing for the project’s development. HFF’s team representing Hanover included Managing Director Cortney Cole, Executive Managing Director Scott Galloway and Director Dustin Selzer.

Click to read more at Houston Business Journal. 

Texas added more people than any other state in past year

Texas added more people than any other state from 2016 to 2017, according to national and state population data released last week by the U.S. Census Bureau.

Between July 1, 2016 and July 1, 2017, the Texas population increased by nearly 400,000 people, No. 1 nationwide. The Lone Star State’s population was about 28.3 million at that time.

That 1.4 percent growth rate was the seventh-fastest in the U.S. in terms of percentage growth.

Click to read more at Houston Business Journal.

Transwestern Investment Group searching for next big sale-leaseback campus following string of megadeals

Shortly after closing the latest sale-leaseback of a State Farm Insurance regional campus, Houston-based Transwestern Investment Group has begun scouring major U.S. markets for additional investment opportunities.

The latest deal — the sale-leaseback of the 2 million-square-foot State Farm regional hub in Tempe — closed earlier this month, and marks the end to a years-long partnership between Bloomington, Illinois-based State Farm Insurance and Transwestern Investment Group.

Click too read more at Houston Business Journal.

Chinese manufacturer to open 100,000-square-foot Houston facility

The city of Houston expects to wrap up negotiations early next year with a China-based airport equipment manufacturer to build a new facility near George Bush Intercontinental Airport, a city official said.

An agreement with CIMC-Tianda Airport Support Ltd. could be formally signed as early as January to create the about 100,000-square-foot facility, said Andy Icken, city of Houston’s chief development officer. A memorandum of understanding is already in place after the city and other officials visited China between Dec. 2-9.

Terms of the deal were not disclosed, but the facility could add around 80 jobs in the Houston area.

Click to read more at Houston Business Journal.