HOUSTON-The just-published report by O'Connor & Associates pegs overall occupancy at 81.5% in the 156-million-sf inventory. The gloomy news transcends to rent for class A and B product while class C and D buildings corner some rate gains.
HOUSTON-Sentinel Real Estate Corp, a New York City pension fund adviser, has sold the 668-unit Lodge on the Parkway to AMLI Residential, one of 20 multifamily owners placing an offer for the 94%-occupied, class A asset.
HOUSTON-The Peterson Group secures a $10.4-million loan for a quartet of fully leased shopping centers with 70,988 sf in the Houston area. The borrower lands a sub-5.5% fixed-interest rate on a 10-year term.
TOMBALL, TX-The "done" stack holds nine leases, of which two are 10-year deals and the others are five-year agreements. Meanwhile, another 20,000 sf of commitments are pending. The mix of national and local tenants should be ready to open doors in August.
LEAGUE CITY, TX-An Austin investment group on the road to dissolution sells the 87%-leased shopping center along FM 2094 to a Denver buyer with 1031 Exchange funds from three out-of-state retail properties.
HOUSTON-Three longtime tenants hold onto a combined 16,654 sf in Whitney Bank at 4265 San Felipe St. in the Galleria. Two make five-year commitments and one agrees to stay another two years in the 92%-leased building.
HOUSTON-Weingarten joins with Rioco Corp. of McAllen in ownership of a 680,100-sf retail portfolio. The REIT's $26.2-million buy-in marks an inroad into the Rio Grande Valley while delivering leasing, management and a development partner for the future.
HOUSTON-The five-year tenant holds tight to 3,223 sf in a class B building at 1616 Voss Road. The new medium-term deal keeps the 179,061-sf office building at 82% occupancy, slightly above the submarket average.
HOUSTON-National Lending Corp. acquires 3673 Westcenter Drive from the First Methodist Church of Houston Foundation. The plan calls for retooling the 1981 building into a corporate headquarters location.
HOUSTON-A local private investor has acquired eight retail properties from AmREIT, picking up a package of mainly of small, single-tenant buildings leased to national names like La Petite Academy, Goodyear Tire Co. and Whataburger.