Houston Commercial Real Estate
Houston Industrial Space,Houston,Texas
November 22, 2009 by HSACQ · 6 Comments
Houston Industrial Space & Houston Warehouse Space service listings guide, for Houston Industrial space lease, Houston Industrial space for sale, Houston Industrial Space news, Houston Industrial Space information, and Houston Industrial space discussion. Houston Industrial Space in Houston, Texas, U.S.A. is Houston Site Acquisitions. www.HoustonIndustrialSpace.com . Need Space ? We can help. Free Location Service Citywide. Let Houston Site Acquisitions www.HoustonIndustrialSpaces.com find your warehouse space.
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Last updated: November 12, 2009 04:05pm
Bayou Signs 49,000 SF in NW Submarket
By Amy Wolff Sorter
HOUSTON-The packaging distributor will relocate from its current location on the east side by early 2010 to the 374,160-square-foot Windfern Distribution Center through a five-year lease.
http://www.hsacq.com
Interesting Houston warehouse space-distribution center relocation from east Houston to Northwest Houston.
REAL ESTATE
Lawsuit aims to throw Titans quarterback for loss
By NANCY SARNOFF Copyright 2009 Houston Chronicle
http://www.chron.com/disp/story.mpl/business/sarnoff/6732450.html
Nov. 21, 2009, 12:26AM
Share Print Share Del.icio.usDiggTwitterYahoo! BuzzFacebookStumbleUponTennessee Titans quarterback Vince Young has been dragged into a legal scrimmage over an industrial property he’s been leasing in southwest Houston.
Houston-based Weingarten Realty Investors has filed suit against Young, alleging he defaulted on the lease in May and then abandoned the space the following month.
The Houston native continued to fail to pay rent and other amounts owed through the time the suit was filed in state district court on Nov. 13, according to the petition.
In Sept. 2007, Young signed a five-year lease for 5,049 square feet in the Beltway Southwest Business Center, an industrial development at 11777 South Sam Houston Parkway West.
Young was using the space for “office and warehouse for sporting goods memorabilia and management,” according to the lease.
The base rent started at $4,039 per month with increases after the 25th month and the 49th month, amounting to almost $240,000 in total.
Weingarten and its attorney, Laura Coe, with Chamberlain, Hrdlicka, White, Williams & Martin, would not comment. Young could not be reached.
Low-cost subleases
The largest office lease in the third quarter was King & Spalding’s renewal for 116,000 square feet downtown, but a smaller deal a short distance away said more about the shape of today’s market.
That’s because the tenant, Dynamic Offshore Resources, agreed to take two floors off another company’s hands.
The transaction “confirmed that tenants are beginning to take advantage of low-cost sublease opportunities,” commercial real estate firm Jones Lang LaSalle said in a third-quarter market report.
Sublease space grew to 4.4 million square feet during the quarter from 3.8 million square feet and is approaching the highest levels since the 1980s, according to CB Richard Ellis.
Through the first half of 2010, tenants should continue to find favorable deals that include rental discounts, free parking and reduced security deposits, Jones Lang LaSalle said.
Savvy tenants are scrutinizing the financial health of their landlords vs. the other way around.
Building owners may have debt coming due, and some lenders are pressuring them to lease their properties with stable, credit-worthy tenants.
Home value lawsuit
KB Home, Countrywide Financial and an appraisal subsidiary of Countrywide are being sued by a Texas homeowner who alleges the companies conspired to inflate home values.
According to the complaint, Countrywide funneled all of its KB customers’ home appraisals to a single person at Plano-based LandSafe Appraisal Services, who in turn would deliver an appraisal value at whatever KB and Countrywide ordered.
The lawsuit seeks class action status.
KB spokeswoman Cara Kane said the lawsuit is without merit and similar to union activist-initiated suits in other states.
“As a home builder that has been in business for more than 50 years, we proudly stand behind our homes and are prepared to assist our homeowners with any concerns they may have,” Kane said in an e-mail.
Los Angeles-based KB Home was the ninth-largest builder in the Houston area last year.
The company constructed 1,139 homes here. That was down 33 percent from 2007.
Shirley Norton, a spokeswoman for Bank of America, which owns Countrywide, also said that the lawsuit is without merit.
It was filed earlier this month U.S. District Court in Los Angeles.
The named plaintiff, Alice Stacy, bought a home in McKinney in 2006.
Several claims are listed against the defendants, including violations of the Racketeer Influenced and Corrupt Organizations Act, according to Hagens Berman Sobol Shapiro, the Seattle-based law firm representing the plaintiff.
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Houston Site Acquisitions assist companies requiring Houston Commercial Real Estate, Houston Office Space, Houston Industrial Space, Houston Warehouse Space, and Houston Retail Space.
http://www.globest.com/news/1561_1561/houston/182733-1.html?st=rssSunoco Brings 150 Acres to Market
By Amy Wolff Sorter
PASADENA, TX-The company’s chemical division, which shut down its functionally obsolete factory, is putting it on the block.
Houston Site Acquisitions assists corporate clients in securing Houston industrial space for lease and for sale. For additional assistance with Houston industrial space or other Houston commercial real estate assignments please call us at 713-789-8700 or submit the easy to fill out form located on the right hand side of the website and our tenant representation team will contact you to further discuss your specific requirement. http://www.hsacq.com
December 26, 2009 at 2:15 pm (Edit)
http://blogs.chron.com/primeproperty/industrial_market/December 08, 2009
Commercial real estate on the mend?
There’s been much hand-wringing over the coming wave of commercial real estate defaults, but some believe the market is stabilizing faster than pundits expected.
The rate of decline in commercial real values is slowing across the country and through all property sectors, according to a fourth-quarter report from Integra Realty Resources.
The report was based on a survey of 59 of Integra’s managing directors throughout the United States to determine the rate of change across the country and in all property types, including multifamily, lodging, industrial, retail and office.
To be sure, the value of commercial real estate is expected to decline further. Integra estimates 5 percent nationally over the next six months.
That rate, however, is well below the 11 to 17 percent depreciation across asset classes in 2009.
New York-based Integra, an independent commercial real estate valuation and consulting firm, said lodging and retail sectors saw the biggest value declines in the current market downturn, with the western part of the country hit the hardest.
The office, industrial, and multifamily sectors have only experienced a 3 percent drop in value in the past three months, with the lodging and retail sectors experiencing a 5 percent drop, according to the study.
This graph shows the stabilization in commercial real estate valuation for the past 18 months in the office, retail, industrial, multifamily and lodging sectors.
Houston Site Acquisitions specializes in Houston Commercial Real Estate including , Houston Industrial Space, Houston Warehouse Space, and industrial investment property. For commercial real estate assistance please contact us at 713-789-8700 or fill out the easy to fill out form located at the top right hand corner of this page. http://www.hsacq.com
149,000-SF Spec Groundbreaking Imminent
Globestst.com :March 2, 2010
http://www.globest.com/news/1610_1610/houston/183796-1.html?st=rss
HOUSTON-In what could be a rare sighting this year, the construction crane will hover over Carson Cos.’ next speculative building, Portwall Distribution Center IV. The Newport Beach, CA developer will launch construction on its 148,793-square-foot center next week.
Upon its completion by October of this year, Portwall IV at 531 Portwall St. will join Carson Cos.’ Portwall Distribution Centers I, II and III, which are nearby. Carson Cos. acquired Portwall I in October 2006, and broke ground on Portwall II and III in early 2008.
“Portwall II and III were finished about a year ago, and that project is 100% leased,” explains Daniel Zoch, Texas’ managing director for Carson Cos. He tells GlobeSt.com that a very tight market for distribution space in the near east submarket prompted Carson Cos. to build on a speculative basis. “We believe in this submarket, and think the building will be successful,” he adds. Research reports put industrial vacancies in this submarket at between 3% and 3.4%. The area-wide vacancy is just under 8%.
Another reason for the likely success of Portwall IV, Zoch explains, is the lack of modern distribution buildings inside the Interstate 610 loop. “There’s some third-generation space available, but no first-generation,” he remarks. “Many tenants today need ESFR, but the nearest available ESFR buildings are in the southeast market, about 17 miles away.”
Carson Cos. is developing the project on an all-cash basis; Zoch acknowledges obtaining a construction loan for a speculative distribution center right now would have been difficult. Rosenberger Construction is the general contractor, while Powers Brown Architecture is the designer.
Once Portwall IV is built and online, that’ll finish Carson Cos.’ Portwall Center project. The company will continue the distribution centers, Zoch says.
In the meantime, Carson Cos. is in the market for more acquisitions. “We’re looking for land to hold for future development, as well as existing facilities,” Zoch comments. “We’ll build or buy, whichever’s cheaper.”
HSACQ:
This artilce discusses the construction of a speculative148,793-square-foot distribution center building located in Portwall Distribution Center in Houston, Texas.
Houston Site Acquisitions specializes in Houston Commercial Real Estate including , Houston Industrial Space, Houston Warehouse Space, and industrial investment property. For commercial real estate assistance please contact us at 713-789-8700 or fill out the easy to fill out form located at the top right hand corner of this page. http://www.hsacq.com
July 14, 2011 at 1:08 pm (Edit)
Real estate transactions HOUSTON CHRONICLEJuly 10, 2011, 8:31PM
http://www.chron.com/disp/story.mpl/business/realestate/7647720.html
Leases
OFFICE: ION Geophysical Corp., a global provider of geophysical technology, services, and solutions for the oil and gas industry, has renewed its headquarters lease for 115,056 square feet in CityWestPlace, 2105 CityWest Blvd. Chip Colvill, Michael Anderson and Win Haggard Jr. of Colvill Office Properties represented the landlord, TPG/Cal/STRS, a joint venture of Thomas Properties Group and the California State Teachers’ Retirement System. Mark O’Donnell of Studley Houston represented the tenant.
INDUSTRIAL: Houston Sound Service has leased 6,600 square feet at 352 Garden Oaks. Jeff Kuper and Preston Jaggi with the National Realty Group represented the tenant. Steve Hazel with InSite Realty represented the landlord, Houston Pine Forest.
RETAIL: Buffalo Wild Wings has leased 5,700 square feet at The Crossing at Fry Road in Katy. James Doyle of Texas-Southwest Group represented the tenant. Dale Davison represented the landlord, Centro Properties Group.
OFFICE: Association Management has leased 1,150 square feet at 4722 Riverstone Blvd. in Missouri City. Michael S. Holmes of Weichert Realtors-Wayne Murray Properties represented the landlord, Wayne Murray Holdings. Syd Talley of Association Management represented the tenant.
RETAIL: Subway Real Estate has leased 1,200 square feet in Price Plaza Shopping Center at 1215 Fry Road. Alex Makris, Matt Keener and Jazz Hamilton of CB Richard Ellis represented the landlord.
RETAIL: Southside Skate Shop has leased 1,310 square feet at Shoppes at First Colony, 1930 Texas 6. Matt Keener, Alex Makris and Jazz Hamilton of CB Richard Ellis represented the landlord.
INDUSTRIAL: Nextel of Texas has renewed a 15,140-square-foot lease at 10718 Fallstone in the Sugar Land area and has renewed a 7,892-square-foot lease at 1291 N. Post Oak. Glynn Mireles and Jeff Everist of CB Richard Ellis represented Nextel. Steve Carter with Granite Properties represented the landlord at the Post Oak location, while Paul Magaziner represented the landlord at the Fallstone building.
RETAIL: Nova Healthcare has leased 5,995 square feet in The Loop Shopping Center at 9565 S. Main from Malladi Reddy, trustee. Abe Charski of ACI represented the landlord. Mark Davis of Davis Commercial represented the tenant.
RETAIL: Wonderwild has leased 7,483 square feet at The Grogan’s Mill Village Shopping Center, 2230 Buckthorne Place, for an arts-themed indoor party playground. Tim Maczko of the J. Beard Real Estate Co. represented the landlord.
OFFICE: Depression and Bipolar Support Alliance of Greater Houston has leased 3,470 square feet at 3800 Buffalo Speedway. Collin Grimes of CB Richard Ellis represented the tenant. Warren Savery represented the landlord, Crescent Real Estate.
RETAIL: Molina’s Restaurant has leased 5,600 square feet in Braes Heights at Bellaire Boulevard and Stella Link Road. Patrick Berna of Shanks & Associates represented the tenant. Stephen Swope represented the landlord, Centro Properties Group.
INDUSTRIAL: Southern Fasteners and Supply has leased 13,645 square feet of warehouse space at 3341 Rauch St. from First Industrial Realty Trust. David Munson of Boyd Commercial represented the landlord. Richard Glass of CRC Real Estate represented the tenant.
RETAIL: Hilti has renewed a lease for 4,374 square feet at 6306 Fairbanks North Houston. Russell Janicek, Matt Keener and Mark Raines of CB Richard Ellis represented the tenant.
RETAIL: CiCi’s Pizza has leased 4,000 square feet at Clear Lake Center at 20700 Gulf Freeway. Mark Raines, Matt Keener and Russell Janicek of CB Richard Ellis represented the tenant.
Etc.
CITYCENTRE: Midway Cos. is adding a second conference venue to its mixed-use development near Interstate 10 and Beltway 8 in partnership with Hotel Sorella/Valencia Group. Construction is under way on the 8,500-square-foot Hotel Sorella Meetings & Events Centre, with completion planned in August to coincide with the hotel’s second anniversary. Houston-based Proem Design-Build is overseeing the build-out, and Los Angeles-based Jennifer Skaife is providing interior design services. The project includes the La Scala Ballroom, nearly 4,000 square feet, with seating for 300; four boardrooms; a 200-square-foot conference room; several pre-function areas — the largest approximately 1,300 square feet; and a partially open pantry kitchen. Bistro Alex’s culinary team will oversee food and beverage for the venue.
FINANCING: HFF has arranged financing for 712 Main on behalf of an entity owned by Brookfield Real Estate Opportunity Fund. John Ahmed led the HFF team in securing the non-recourse loan through Capital One Bank. Built in 1929, the 35-story gothic/art deco-style building contains 794,186 square feet and is the Texas headquarters of JP Morgan Chase’s southwest banking operations.
SERVICE KING: Service King has opened a 32,000-square-foot location at 5919 Westheimer. Service King redeveloped the long-vacated former Truluck’s restaurant location on Westheimer for its offices and built the collision repair center behind it. It is the 10th Houston-area location opened for the collision repair company since 2009.
APARTMENTS: Allied Realty is targeting a summer 2012 opening for its first project in The Woodlands: The Retreat at The Woodlands, a 240-unit luxury apartment community at 4400 College Park Drive. The property is designed by Steinberg Design Collaborative and will be managed by Orion Real Estate Services, a division of Allied Realty. Financing and capital is being provided by JP Morgan Chase and a partnership between Allied Realty and De Anda Sandoval Group.
APARTMENTS: Transwestern announced that its Houston-area multifamily services group has completed six transactions totaling over 2,000 units in the last six months. Most recently, The Brazos, a 160-unit apartment community at 1440 Brazos Drive in Huntsville, was purchased by a local private investor. Transwestern represented a California-based seller.
CHRISTIAN BROTHERS: Andy and Christie Miller have opened a Christian Brothers Automotive franchise at 1515 W. FM 646 at Walker Road in League City. The 5,000-square-foot location includes nine service bays and an upscale lobby with leather couches, decorative lighting, artwork and hardwood floors. The Millers opened their first Christian Brothers location in February 2007 in Clear Lake. The automotive service and repair franchise operates in 14 states and has 81 locations plus 35 under development.
LEASING: Rosemont Realty of Santa Fe, N.M., has chosen Moody Rambin Interests to handle leasing at 12621 Featherwood.
LEASING: The Finial Group has been selected to provide leasing for 1001 Texas- The Binz Building. Keith Bilski, Neil Martin and Ben Debayle will handle leasing of the 121,392-square-foot building.
APARTMENTS: Jones Lang LaSalle’s Capital Markets has been hired to market Legends at Cinco Ranch in Houston for sale for Sterling Investco, a Dallas-based multifamily developer. The new 260-unit community is expected to fetch in excess of $40 million. The firm has also been hired to secure $8 million in construction financing for the project’s second phase.
CITY VIEW LOFTS: Orion Real Estate Services has been selected to manage City View Lofts, a newly renovated historic property at 15 N. Chenevert, scheduled to open in August. The former Nabisco cookie factory has been converted into 57 loft-style units with original exposed brick and pipes, 14-to-30-foot barrel-vaulted ceilings, large factory windows and original maple floors. City View Lofts is two blocks from Minute Maid Park.
Interesting Article:
Houston Site Acquisitions specializes in Houston Commercial Real Estate including , Houston Industrial Space, Houston Warehouse Space, and industrial investment property. For commercial real estate assistance please contact us at 713-789-8700 or fill out the easy to fill out form located at the top right hand corner of this page. http://www.hsacq.com