Miami-based One Real Estate Investment has sold two large apartment complexes totaling 882 units in the Houston area to S2 Capital for more than $60 million, the company reported.

Nitya Capital has plans for its first office project, the 35-year-old Norfolk Tower that it plans to spruce up and rename. Houston-based Nitya, which invests primarily in apartment properties, has purchased the 11-story office building at 2211 Norfolk at Greenbriar from Boston-based TA Realty. HFF handled the sale. The building, which is leased to 65 to 70 small tenants, will be upgraded and rebranded as Nitya Tower. The location near Greenway Plaza, River Oaks, the Texas Medical Center and downtown was a draw. "We saw a similar value-add play that we look for in apartments," founder and CEO Swapnil Agarwal said. "It's a great location with visibility from U.S. 59. It's an old building and it needs work, which is what we do.

Montgomery Trace Shopping Center, a 94,893- square-foot center on 14 acres at 20821 Eva, Montgomery, has changed hands. The building is 92 percent leased to 15 tenants. Jeff Tinsley of the J. Beard Real Estate Co. represented the seller, Montgomery Trace Shopping Center DST Texas. Pluckers Wing Bar will open at 20821 Gulf Freeway in Webster on Nov. 21. The Austin-based sports bar and wing restaurant plans to open a fourth area location in Cypress in early 2018. Citris Nails has leased 5,000 square feet in the Center at Pearland Parkway, 2650 Pearland Parkway, Pearland, from Pearland Dunhill 1. John Nguyen of NewQuest Properties represented the tenant. Sarah Landry of Dunhill Partners represented the landlord.

Six new leases at 1885 Saint James Place have pushed occupancy of the 165,000-square-foot building past the 50 percent mark, according to JLL. Nelson Murphree Legacy Partners developed the building, just south of the Tanglewood neighborhood, to cater to smaller tenants. JLL's Chrissy Wilson and Russell Hodges represented the landlord, 1885 St. James Place Partners. The deals, which total about 26,000 square feet, are: Sage Refined Products, represented by Harry Holmes of Avison Young, will relocate from BLVD Place to a 7,391-square-foot office on the 11th floor. Aycock & Co., represented by Matt Trozzo and Graham Horton of CBRE, will move from 7500 San Felipe to a 6,448-square-foot office on the 10th floor.

The embattled Montrose Management District, under fire from property owners pushing for the group's dissolution, has cancelled a monthly board meeting scheduled for Monday.

LT Foods USA, an importer and distributor of Basmati rice, has purchased a Class A industrial building in Missouri City.

Powers Brown Architecture has opened a Toronto office to serve as its Canadian headquarters.

Spaces will bring its brand of creative workspaces for professionals and growing businesses to the Kirby Grove mixed-use development for its first Houston location.

Home sales rallied for the second straight month after Hurricane Harvey made landfall in late August, stalling or canceling real estate transactions across the Houston area.

Best Buy plans to build a 550,000-square-foot distribution center in Missouri City.

Ikea has inked a 1 million-square-foot warehouse lease in Baytown.

 

LGI Homes posted a third-quarter profit of $433.7 million, up 73 percent from a year ago.

The Turner Multifamily Impact Fund has put a Houston property in its portfolio with the acquisition of the Bridges of Cypress Creek, a 314-unit apartment complex at 17710 Red Oak Drive in northwest Houston.

Australian developer Caydon will be moving forward on its first U.S. project after receiving financing for the luxury residential tower it's been planning in Midtown.

Stewart Information Services Corp., the Houston title and real estate services firm, said Monday it is considering putting itself up for sale or seeking a merger partner.

West Mon Plaza, a 6,536-square-foot shopping center being built at 900 Westheimer just east of Montrose Boulevard on the former Ruggles Grill site, is now fully leased after landing three Dallas concepts. Chills 360, offering Thai-inspired rolled ice cream, and East Hampton Sandwich Co.will open their first Houston locations, while Velvet Taco will open its second area location in early 2018. Lauren Heimann & Josh Jacobs of Edge Realty Partners represented the landlord. Zanti Cucina Italiana Restaurant will be built in Westgate Crossing, a mixed-use development planned on 11 acres at Research Forest and Egypt Road in Magnolia. Everson Developments represented the buyer, Rodrigo Pelaez, in the purchase of 1.

City planners' ambitious 20-year vision for downtown Houston includes more of everything that has transformed the central business district into a more vibrant destination. More apartments, restaurants and shops. More walkable parks and attractions. More innovative startups and Fortune 500 businesses. But with new technological advances and cultural shifts, Central Houston Inc. also envisions a future when downtown denizens overwhelmingly use driverless cars, electric vehicles and ride-sharing apps to get around.

A district court judge has ruled that the West Montrose Management District illegally collected nearly $6.6 million in assessments based on a petition now deemed void by the court.

Chamberlain Hrdlicka, a national business law firm founded in Houston more than 50 years ago, has renewed a lease for its longtime headquarters in downtown's Two Allen Center. The firm will continue to lease 55,178 square feet on the 13th and 14th floors at 1200 Smith until 2028. Renovations to Brookfield Property Partners' Allen Center complex factored into the firm's decision to stay and upgrade their own offices. "Chamberlain Hrdlicka is pleased to continue our longstanding relationship with Allen Center," Chamberlain Hrdlicka chief operating officer John Meredith said in an announcement.