Here’s how many packages FedEx’s new massive Houston hub will process per day

More details were revealed on one of the largest commercial real estate developments set to deliver in Houston this year.

The massive, 815,000-square-foot facility that Memphis-based FedEx Corp. is building in Houston will be completed by Sept. 10, said Brady Bates, senior manager of the Houston FedEx Ground hub, at a Katy Economic Development Council meeting.

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These are the types of multifamily projects lenders will back in Houston

Houston apartment developers are wrestling with a challenging economic environment even as the city slowly recovers from the oil slump.

Banks and institutional lenders are tightening their purse strings amid a national apartment construction boom. This is nothing new for Houston developers, who have struggled in recent years to find financing amid the oil slump.

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Chevron invests in multimillion-dollar renovations to Houston buildings

California-based Chevron Corp. (NYSE: CVX) is undergoing a multimillion-dollar renovation at its downtown and Westchase buildings as part of its adjusting Houston footprint.

Building permits filed recently with the city of Houston show that Chevron has invested around $10 million in renovating its downtown office at 1500 Louisiana St., and an additional $2.5 million in renovating its 3901 Briarpark Dr. office in the Westchase District. D.E. Harvey Builders is the contractor for both buildings, according to the permits.

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Houston REIT says portfolio is ‘e-commerce resistant’

Following the announcement that it plans to acquire Blvd Place, a Class A mixed-use development in Houston’s Galleria area, Houston-based Whitestone REIT’s first-quarter earnings show it is benefiting from avoiding retailers that compete with e-commerce vendors.

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Houston’s office market shows slight improvement in 2017

The numbers are in, and the Houston office market’s first-quarter performance was a slight improvement from a comparably rough-and-tumble 2016.

Houston closed the first quarter with negative 778,758 square feet in absorption, according to a report from NAI Partners, a brokerage based in the Bayou City. The city’s availability rose to 25.7 percent from 25 percent, per the report.

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Hines buys, rebrands, expands industrial park near Port of Houston

Houston-based Hines announced March 30 it acquired the Underwood Distribution Center, an industrial park in La Porte, from BlackRock for an undisclosed amount.

The Class A park currently has five buildings totaling 2.2 million feet, which are 100 percent leased, and three development parcels. Current tenants include CRC, DNow, GIS, Northern Safety, Packwell, PolyOne and others, according to a statement from Hines.

Click to read more at Houston Business Journal.