HOUSTON-General Stevedores has taken 90,618 sf in a three-building cluster near Houston's ship channel. The property at 601 McFarland is situated in a submarket bearing a 4.2% vacancy and boasting rental rates of 38-cents per sf for warehouse space.
HOUSTON-Copley Pension Fund has unloaded its last holding, a 53,750-sf industrial building in the northwest submarket. It's all part of the Boston-based fund's liquidation, says the broker.
HOUSTON-A first-quarter report has the Westchase submarket ahead of the rest of the city in absorption, high-profile tenants and a building boom. New construction has vacancy riding at 14.8%, according to Trione & Gordon.
HOUSTON-Edgar Filings is moving into a 2,337-sf sublease space of RealtiCorp, a South Carolina-based investment fund. The two will share office space at Greenway Plaza, where class-A rates are fetching $22.03 per sf.
HOUSTON-The upscale Decorative Center of Houston has a new owner, New York-based Cohen Realty, which also has centers in its homeport and Los Angeles. The sales price is hushed, but the property had been marketed at $113 per sf.
HOUSTON-Gea of Texas has taken 7,073 sf of industrial space in west Houston while Dallas-based Occucenters has gone inside the loop for 8,556 sf at 1000 N. Post Oak Rd. Grubb & Ellis Co. has represented the tenants in both deals.
HOUSTON-Verizon Wireless will be moving into a 9,350-sf office at the Bunker Hill Building, located at 9525 Katy Freeway. Houston-based Metro National owns the 89,000-sf, class-A property.
HOUSTON-Hines and Prime Asset Management will break ground in July on a 689,000-office building. It is the only Houston project in which Hines holds an equity interest. Calpine has spoken for 300,000 sf, ample space for merging its three Houston offices.
HOUSTON-Betz Realty has picked about 10.6 acres in Legacy Park for its next industrial project. Come June, ground breaks on a 166,850-sf project positioned along Beltway 8, the city's next frontier of industrial development, says a broker.
HOUSTON-Weingarten's president and CEO Drew Alexander says it's been the most exciting first quarter in the firm's 53 years. Acquisitions and a common equity offering highlight Weingarten's first-quarter activity.