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Stafford Commerce Center is in the Southwest industrial submarket on 4.869 acres proximate to Interstate 69, Beltway 8 and Highway 90, which provide access to the area's growing residential population.
As occupancy rates are anticipated to increase in 2018, operators will look to accelerate rent growth, making multifamily assets in high-barrier and suburban markets compelling options for investors.
1st Emporium Inc. acquired the Macy's at West Oaks Mall from Macy's Holdings, with plans to redevelop the former two-story 243,337-square-foot retail site into a department store, The Outlet at West Oaks.
During marketing efforts, HPE is remaining in its current campus until a new Houston location has been identified and built, and will lease back the facility until its new campus is complete.
After three years in an economic energy slump, Houston's office market is ready for a boost, although large energy giants profits in the fourth quarter were largely driven by continued lean budgets and staff reductions.
Two large office properties sold last year for more than $500 million each and tenants are flocking to the CBD to extend leases, demonstrating the rebirth and growth of Houston, even after a challenging year.
Richland zeroed in on 8100 Westpark due to its sought-after location with high visibility, as well as access to distribution routes and multiple entry points with three main ingresses, its CEO tells GlobeSt.com.