HOUSTON-Houston restaurateur Tilman Fertitta has contracted to buy the old World Trade Center building in downtown Houston. Under consideration is an adaptive reuse project to convert the abandoned building into a 220-room luxury hotel.
AUSTIN-A successful phase one sparks Transworld Properties to develop a sister site to Stonebridge Plaza I. The new project will add 200,000 sf to the city's Golden Triangle.
AUSTIN-CarrAmerica Realty Corp. takes on its third project in Austin, simultaneously working the developments. The latest pact calls for construction of a 50,000-sf build-to-suit office structure for D.R. Horton Inc., a company specializing in the construction and sale of luxury homes, GlobeSt.com has learned.
SANGER, TX-An estimated $1.7 billion retirement community project has cleared the first of several obstacles before it goes before Denton County voters Nov. 7. Feedback from yesterday's commissioners court appears positive, says an attorney helping to steer the project.
RICHARDSON, TX-An OR-based corporation shells out $87 million for a 142,500 site in the metroplex's Telecom Corridor. The relocation of its TX division from a leased Dallas site will bring with it an expansion of wafer fabrication capabilities and a possible tripling of staff.
AUSTIN-Gables Residential is looking to cash in on Austin's tight multi-family market, buying the 160-unit The Reserve at Barton Creek from Trammell Crow Residential. The per unit monthly rent is nearly $400 higher at the acquired property than that of Gables' other Austin holdings.
HOUSTON-One BriarLake Plaza, a 500,000-sf office tower that was completed this spring, has reported strong leasing activity with a number of technology firms taking space in the building. The interest is sparking talk about breaking ground next year on two more buildings.
DALLAS-Dallas-based Champion Partners and State Farm Insurance Co. are undertaking their second joint project in the US, breaking ground yesterday on the 165,907-sf Westway I - the first of five spec office projects ticketed for a 60-acre parcel in the Las Colinas submarket. There are less than five office projects under construction with available space in the booming submarket where open land is plentiful and unleased space is at a premium.
DALLAS-Prentiss Properties Trust is paying $63.3 million for an Oakland, CA, office and development site, action that closely follows a a planned disposition of the REIT's final holdings in Houston and Dallas. The move is not an indication that the Dallas-based REIT, set to be acquired in November by NJ-based Mack-Cali, is reducing its TX presence.
HOUSTON-A Houston developer, out to capture an elite mix of retailers, has found the key to success for a redeveloped shopping center in the world of soft goods suppliers. The most recent retailer to sign is the Gap, which will bring along with it a Gap Kids. In all, the fourth quarter and 2001 start will see more than 20,000 sf of new retail space being added to the upscale shopping plaza.
