Houston

BP Lower 48 plans to relocate later this year to the first office property back in service post-Harvey, West Memorial Place, and will occupy three floors of space formerly leased by IHI E&C in West Memorial Place II.

Storage units and recreational vehicle spaces are included in the transaction.

The transaction is slated to close mid-year 2019.

Specifically, Transwestern Commercial and Devencore will work together on cross-border occupier, agency and capital market opportunities, and will also provide research, marketing and consulting support for existing and future clients.

At the city level, Dallas and Fort Worth are two of the six cities that had nothing but high-end apartments in 2017, and all new apartments are luxury-grade in the first half of 2018.

Avenue has been recognized by ULI for two affordable communities in its development portfolio–Avenue Place, a 95-unit single-family subdivision, and Avenue Terrace, a 192-unit multifamily complex.

The new platform— Logistics Property Company, LLC— has partnered with Macquarie Capital Real Estate Investments on the formation of the platform. LPC seeks to grow its business to more than $5 billion of properties under management over the next five years.

The price of oil is stabilizing, which is favorable for all sectors, but especially the office sector as businesses gain confidence and start to expand again; properties with no Harvey damage are most desirable.