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Incentives provided by the city's Downtown Living Initiative and the progression of its retail sector has created an ideal environment for new investments such as Sovereign at the Ballpark to help with the demand surge.
It is the first project in Houston to receive any certification under Fitwel, and among the largest with a three-star Fitwel rating, is second only to the Bloomberg headquarters in New York City.
The Richland Companies is seeing an uptick in leasing activity particularly at two properties because of recent building improvements that have all been for pre-emptive upkeep and visual enhancements.
The sale of 9700 W. Gulf Bank is somewhat rare, given oil prices have been suppressed since late 2014 and activity on similar properties has been limited, but it was last year's third-largest manufacturing sale by square footage.
According to the 2020 CRE Innovation Report by Altus Group, a majority of CRE leaders now fully recognize the disruptive impact of PropTech, illustrating that many advanced technologies can potentially solve current challenges.
Amid e-commerce impacts to malls and big-box retailers, Texas net-lease product continues to show impressive demand, says T. Reed Hudson of Stan Johnson Company in this EXCLUSIVE.
The financing will facilitate the construction of a 1.2-million-square-foot mixed-use tower, part of a 1.9-million-square-foot development that will feature office, residential condominium and retail space.
Copperwood Ranch has been well maintained by its ownership for the past 16 years, with more than $160,000 in capital expenditures invested since 2018, and this owner has a Texas portfolio of 11 affordable housing assets.
Plano added the most office space at slightly more than 10.5 million square feet, a 40% increase, while Irving came in second, adding 4.5 million square feet of class-A and B office space across 21 properties.
Newport Real Estate Partners, focused on the acquisition and repositioning of value-add multifamily properties, acquired 460-unit The Fountains at the Bayou, which will be renamed Valencia Grove Apartments.