HOUSTON-DKH Interests will break ground this summer on a 500,000-sf trio in Atasocita, League City and Sugar Land. The largest development is a 250,000-sf boardwalk-style, mixed-use undertaking about 1,000 feet from the Gulf Coast shoreline.
HOUSTON-The city offices relocate within the CBD, taking class B space emptied a couple years ago by Enron. The six-year lease with Trizec has a first-year payout of $384,293, with an annual average of $413,854 over the term.
HARLINGEN, TX-The 144-unit Reata's developer takes the offer from Greenwich Capital Markets: a 10-year loan, sub-5% fixed-rate interest and two years of interest-only payments. Built in 2003, the Rio Grande complex is more than 95% occupied.
HOUSTON-The 700,000-sf Calpine Center's construction loan with JPMorgan Chase gets replaced about a year early when Hines and Prime Asset Management pick up a 10-year package from Bank of America, one of the final four in the capital markets tour.
BELLAIRE, TX-The 24,000-sf Bissonnet trades to a group of Houston investors, who beat the $2.5-million ask to outdistance eight others chasing the deal for its upside in vacancy and an average rent 5% to10% below the market.
HOUSTON-Citgo Petroleum will begin the move south of the Red River in the summer, leaving 300 jobs in its long-time port and bringing 700 to the energy world's heavyweight hub. Although the deal's done, the address is still to come.
HOUSTON-A high-tech firm and an HR company take over class B office space vacated about two years ago by ERM, a tenant who occupied practically all of Two Park Ten Place. One commits for the short term and the other says "yes" for the long term.
HOUSTON-A local businessman, Arthur Behrends Jr., pays close to $105,000 for a 2,000-sf office/warehouse to 20-year owner, Dawson Enterprises of New Orleans. The building will be repaired and used, but the takeover is more of a land play.
HOUSTON-New owner Sealy & Co. foregoes a competitive search for a leasing and property manager for 685,000 sf in five industrial buildings, opting to stick with their five-year overseer. Talks to rework the deal began as soon as the trade was sealed.
HOUSTON-Giessel, Barker & Lyman crafts an early-out from a 20-year address, taking a 24,301-sf office at 1 Houston Center. The relocation from 2 Houston Center pulls about 3,000 sf from the bottom line.