Barringer Bar to close in wake of new downtown mixed-use project

Barringer Bar & Lounge has announced that it will close its doors to make way for a new tenant at 108 Main St.

The bar will serve its last meal on Dec. 22 and won’t relocate, according to a press release. Owners Chieko and Robby Cook will pursue other positions within Houston’s restaurant scene, a spokesperson said. Barringer had relocated to the 4,800-square-foot, two-story space in 2015, after first opening in 2014 above Clutch City Squire at 410 Main St.

Click to read more at Houston Business Journal. 

How Hurricane Harvey created a perfect storm for Houston commercial leases

Many commercial landlords and tenants woke to a soggy mess after Hurricane Harvey deluged Houston. That physical mess quickly became a business mess, which in many cases has now turned into a legal mess. Many landlords and tenants are simply working together to aggressively repair buildings and get tenants back in business.

However, there are circumstances that may force some parties to confront the legal aspects of their property lease, such as failure to adequately insure, poor or incompetent response or an existing failed lease relationship. 

Click to read more at Houston Business Journal. 

Global co-working company to open first Houston location in Kirby Grove

Another company that operates co-working spaces is entering the Houston market.

Spaces, which bills itself as a “creative workspaces pioneer,” plans to open its first Houston location in the Kirby Grove mixed-use development. Spaces expects to open in the spring and will occupy the entire sixth floor — about 25,000 square feet — of the development’s office building.

Founded in Amsterdam, Spaces has locations in the Netherlands, the U.K., Australia and Asia, plus other U.S. cities. It offers a “creative working environment for the corporate shaker, freelancer, energetic entrepreneur, international worker, mobile worker, startups and well-established companies,” according to a press release from Kirby Grove developer Midway Cos.

Click to read more at Houston Business Journal. 

See which projects were named finalists for ULI-Houston’s 2018 Development of Distinction Awards

The Houston District Council of the Urban Land Institute has selected eight finalists across four categories for its 2018 Development of Distinction Awards.

ULI-Houston also named two projects as honorable mentions in the Not-For-Profit category and the Urban Open Space category. Click through the slideshow to see photos of all eight finalists and the two honorable mentions. 

This is the 11th year for the awards, which are modeled after the national ULIGlobal Awards for Excellence and ULI’s Urban Open Space Awards. In 2015, ULI-Houston added the Urban Open Space category so such projects could be judged separately from traditional built structures. 

Click to read more at Houston Business Journal. 

 

Nonprofit puts property along Allen Parkway on the market

A Houston nonprofit plans to sell its property along Allen Parkway and relocate.

The Houston Chronicle reports The Center, which serves adults with intellectual and developmental disabilities, hired CBRE to sell its 6.7-acre site at 3550 W. Dallas St. Brendan Lynch and Darin Gosda with CBRE are marketing the property, which currently doesn’t have an asking price, per the Chronicle.

For its new location, The Center is looking for somewhere near public transportation, a freeway and possibly light rail, the Chronicle reports.

Click to read more at Houston Business Journal. 

Exclusive: Houston brokerage’s investment fund breaks into new market

After beefing up its investment management division a little over a year ago, Houston-based NAI Partners’ investment fund recently closed on two properties in Texas, one of which is in a new market for the company.

NAI closed on the 61,165-square-foot medical office building at 11301 Fallbrook Drive in Cypress, said Andrew Pappas, senior vice president of the firm’s investment management division. The firm also closed on the 85,368-square-foot office building at Marymont Office Park in San Antonio.

This is NAI Partners’ first acquisition in San Antonio. NAI has also earmarked a significant amount of capital toward infrastructure and aesthetic improvements to the property, per a spokesperson. NAI Partners typically targets properties worth anywhere from between $7 million and $12 million.

Click to read more at Houston Business Journal.