HOUSTON-United Investors Realty Trust is posting a 13-cent dividend per common share, a decrease from its prior shareholder earnings. CEO Robert Scharar says the decision woefully is necessary.
KINGWOOD, TX-AMLI Residential has found a development mate in the New York State Common Retirement Fund. The fund is kicking in 75% of the $20 million needed to build a 300-unit multifamily project in Kingwood, a Houston suburb.
HOUSTON-United Space Alliance has a new landlord, Pennington Chen Industries. The NASA program manager occupies the entire 128,894-sf, three-building complex at 1045 Gemini in Clear Lake.
HOUSTON-Sonic Restaurants is kicking off a nationwide expansion to bring 25 to 30 new facilities on line this year. Houston's order calls for six to eight company-owned or franchise sites to open.
HOUSTON-Schwan's is undertaking a 61,293-sf expansion of its Deer park warehouse. The completed project will enable the food distributor's Minh Foods line to add 1120 jobs.
HOUSTON-Four leases, totaling 12,814 sf, have been inked for Houston retail properties. The Marble & Tile Collection is taking the largest space, planning a 7,358-sf store at 1285 N. Post Oak.
HOUSTON-Insignia/ESG has landed a new tenant for Eldridge Place Two, signing J. Ray McDermott Inc., an offshore energy supplier, to 146,768 sf in the class-A office property. The premier property is owned by The Brookdale Group, headquartered in Atlanta.
HOUSTON-The final milestone is reached in a sell-off plan of non-strategic assets, says the president and CEO for Houston-based Pennzoil-Quaker State. The company has found a buyer for its Louisiana refinery. A closing is expected before April 30.
HOUSTON-Grubb & Ellis brokers say it's going to be a good year in Houston, particularly in the CBD. Construction costs are down, rents are comfortable and projects are on the table or coming out of the ground.
HOUSTON-Crescent Real Estate Equities, a major downtown landholder, has added a full city block to its holdings. Development plans for the recent parking lot buy are on the drawing boards.