HOUSTON-The phones are no longer ringing off the hook for prized distribution space in Houston's northwest submarket. But, say two CB Richard Ellis execs, it's not all gloom and doom. There's no space glut nor will there be despite 2.7 million sf coming on line.
SUGAR LAND, TX-Work is under way on a 2,800-acre, master-planned community in Ft. Bend County's Sugar Land. At least 50 highway frontage acres will house commercial and retail, with additional tracts interspersed throughout the project.
PEARLAND, TX-Within three weeks, Home Depot will close on a 125,000-sf retail spot in the under-construction Silverlake Village, a 500,000-sf retail center. The Houston suburb of Pearland is the region's fourth most active development spot.
HOUSTON-Westway Park has snared Time Warner and the Belo Corp. for a 30,000-sf, single-story building to house offices and an all-digital broadcast facility. It will be the nerve center to a 24-hour news station just for Houston.
McALLEN, TX-Factory 2-U has zeroed in on another location in its Texas expansion. This time, it's a 15,000-sf spot at McAllen's Jackson Palmer Crossing. The signing marks 42 stores in the Lone Star State for the San Diego-based retailer.
HOUSTON-Stream Realty Partners of Dallas is saying goodbye to Houston, with the sale of the 58,630-sf Falling Creek One in the FM 1960 submarket. The buyer is a neighbor, CNC Investments, which has several holdings in the city's northwestern tier.
THE WOODLANDS, TX-St. Luke's Episcopal Health System is planning ahead, adding 16 acres to a 24-acre holding in the Woodlands. The health system is under way on an 82-bed, 263,000-sf facility. An official says the buy builds in versatility for the future.
HOUSTON-The high-profile NASA-Clear Lake area has one tenant renewing and two new ones coming on board. Colliers International's Houston office has sealed the 24,789 sf in pacts. The largest deal is a 15,100-sf renewal for ATA Associates.
HOUSTON-Jones Lang LaSalle's Houston office has grabbed a 1.6 million-sf leasing contract for most of Parkway Properties' city portfolio. All but two buildings are fully leased. The 339,592-sf One Commerce Green is the largest in the pact.
KATY, TX-Katy Mills Residual has sold 7 1/2 acres at Katy Mills, an outlet mall and entertainment center west of Houston. The Archer family purchase will be developed into dealerships and other business ventures.