HOUSTON-Joel DeSpain, the developer's man on the ground in Houston, starts making plans for 60 acres that he's put under contract. Meanwhile, he's also awaiting final signatures on long-term leases by two anchors for the Crossing at Fort Bend Parkway.
HOUSTON-The office tenants are awaiting finish-outs on locations in Westchase, the North Loop and Galleria, a trio of leases for class A and class B space. The largest space taker is Llewellin Operating Co. with 4,906 sf.
HOUSTON-Wallace/Halpin bundles three tracts, including a well-known dealership site, to get a development site for a 140,000-sf power center in the northwest sector. Escrow has been completed on the last tract. With that done, ground can break in Q4.
HOUSTON-Downtown is the desired location for an investment-banking firm that takes a 36,841-sf, long-term lease at Trizec's Three Allen Center. With the ink dried, Randall & Dewey Partners boxes for the move.
HOUSTON-More banks are seeing the metropolis as the place to be to do business. Two financial institutions, national and regional, have opened or are in the process of expanding to the Houston market.
HOUSTON-As development costs continue to rise, investors see existing, well located retail projects as prizes for their portfolios. HSM Equity Partners and AEW team to buy a 151,000-sf shopping center in a master-planned community.
HOUSTON-High interest in the city's retail drive the sales, with one, the 119,870-sf Randall's Center El Dorado, bringing more than its $11.2-million ask. Likewise, the 180,438-sf Southway Shopping Center, priced at $18.1 million, also delivers top dollar.
HOUSTON-The tax consulting firm of Ryan & Co. pens a long-term lease for 22,263 sf to drive a relocation of 41 employees from Uptown Houston to Post Oak Boulevard. The firm will move next month.
HOUSTON-Sterling Bancshares' headquarters is staying put in 41,117 sf at 2550 N. Loop West after execs work out an early renewal and extension. A Westpark Drive building lands Meximerica Media Inc., a new network of Spanish language newspapers.
HOUSTON-Yancey-Hausman, teaming with Point Center Partners, will break ground in December on Point Center Midtown, a 97,000-sf retail and office project looking to play off some of the synergy from an emerging theater and nightclub district.