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Deal of the Week: Indiana company buys Pasadena distribution center
Indianapolis-based Duke Realty Corp. has gained a 772,500-square-foot property in Pasadena with the purchase of Bayport Distribution Center II near Port Houston. The property, consisting of two warehouses on 42 acres at 4331 and 4033 Underwood Road, is fully leased by Supply Chain Management, St. George Logistics and IDC. Mountain West Industrial Properties, which also operates in the Denver and Phoenix markets, sold the buildings. HFF's Trent Agnew, Rusty Tamlyn and Dane Petersen marketed the property for Mountain West and its institutional partner. Built in 2008, Bayport Distribution Center II consists of a 600,000-square-foot building and a 172,500-square-foot building with clear heights ranging from 24 to 30 feet.
Real estate in brief: Leases bring Galleria Office Tower I to 85% occupancy
Talos Energy relocates to larger space in Allen Center
Talos Energy relocates to larger space in Allen Center
Storage Wars: Houston tops Dallas for most Public Storage space in Texas
Public Storage added more than 1 million square feet of storage space to the Houston market in 2017, the company announced. With the additions, Houston eclipsed Dallas as the company's largest market in Texas by more than 500,000 square feet.
Spec industrial park in southwest Houston nears lease up
Stafford Grove Industrial Park is 85 percent occupied, and has a 20,450-square-foot space and a 34,100-square-foot space remaining for lease.
Renovated Galleria 1 office building lands two tenants
BKD and Lucas Associates have signed up for offices in the renovated Galleria Office Tower I.
Malls beef up dining, entertainment options to boost traffic
LOS ANGELES - Shoppers braving the mall this holiday season may notice more that's new than the day's discounts. Many mall owners are spending billions to add more upscale restaurants and bars, premium movie theaters with dine-in options, bowling alleys and similar amenities. Some have turned swaths of space that previously housed department stores over to health clubs and grocery stores. Others are undergoing ground-up transformations to make room for office space, hotels and apartments.
Montrose Management District chairman to resign
The president of board of the embattled Montrose Management District will resign at the end of the year, the district has confirmed.
This is the most expensive street to work on in Houston
Downtown Houston's Main Street boasts some of the most expensive office real estate in the country, according to a new report. The 1½-mile-long street ranks No. 21 on JLL's national list of streets with the highest office rents. The average rent for office space on Main Street downtown is $44.24 per square foot, about 45 percent higher than the city average of $30.55 per square foot, the commercial real estate firm said. Trophy towers on Main Street include Hines' 609 Main, Transwestern's 1000 Main and BG Group Place. Two other Texas cities made JLL's annual list, including Austin and Dallas. Austin's Congress Avenue was the 10th most expensive street nationally with rents averaging $58.20 per square foot.
Retail Wrap: Heights multiuse project planned for North Shepherd
Real estate in brief
After Hurricane Harvey cleanup, it's time to let your garden dry out
Dallas investor adds to Houston apartment portfolio
Dallas-based Westmount Realty Capital has expanded its Houston holdings with the acquisition of the 234-unit Copper Mill apartments at 15910 FM 529.
Historic 1001 McKinney building hits market
Downtown's 24-story 1001 McKinney building is up for sale. Commercial real estate firm HFF has been hired to market the historic building, which was built in 1947 to house the City National Bank. The art deco style building, which has undergone nearly $6 million in improvements, was designed by Alfred C. Finn and houses Morton's The Steakhouse on the ground floor.
Retail wrap: Growler USA microbrew pub to open in Friendswood
Goode Co. Kitchen & Cantina, a Tex-Mex concept of Goode Co. Restaurants that made its debut in The Woodlands in September, has opened in the former Mason Jar Restaurant at 9005 Katy Freeway. Levi Goode, president of the family owned company founded by his father 40 years ago, collaborated with Houston-based gin design group on the interiors. The decor features reclaimed wood, artisan-made fixtures, and pieces from his family's collection. Goode worked with Studio Red Architects on remodeling the 6,500-square-foot building, which was built out by Alpine Engineering & Construction. Growler USA, a Colorado-based craft beer microbrew pub with 17 locations including one in Katy, plans to open in Friendswood in February.
Zillow: Houstonians are doubling up as rent costs rise
About a third of adults are living with a roommate or parent in Houston, mirroring the trend for the U.S. as housing costs have shot up, a new Zillow report showed.
Houston housing market sees gains in lower-end of market
Homes priced between $100,000 and $250,000 saw the strongest sales gains while demand for luxury homes declined compared with last year, according to the latest report from the Houston Association of Realtors.
Beck Redden renews lease in Houston Center complex
Houston litigation firm Beck Redden has renewed its lease on the top two floors of LyondellBasell Tower in downtown's Houston Center for 10 years.
Judge signs emergency order against Montrose Management District
Houston developers announce Market at Houston Heights project
Capital Retail Properties and Wile Interests have teamed up to transform 1.7 acres along North Shepherd Drive, south of 16th Street, into a 30,000-square-foot lifestyle center that will bring services and restaurants to a rapidly changing area of the Houston Heights.