Apache purchases land in Galleria from BLVD Place

Apache Corp. has purchased 6.4 acres of land at BLVD Place, a new mixed-use development located on Post Oak Boulevard and San Felipe Street in Houston. The property is located on the southwest corner of Post Oak Boulevard and the future BLVD Place Drive and includes frontage on Post Oak Lane and Ambassador Way. The Pavilion, a former shopping complex located on the site, is undergoing demolition with a completion date by year's end. Upon completion, BLVD Place will feature 388,000 square feet of retail and office space, as well as 1,000 high-rise multifamily units. Tim Relyea and Scott Wegmann of Cushman & Wakefield represented the buyer in the transaction. Ed Wulfe and Bob Sellingsloh of Wulfe & Co. represented BLVD Place.

For more information on Houston office space, Houston retail space or Houston warehouse space and Houston industrial space, please call 713 782-0260 or see my web site at : www.houstonrealtyadvisors.com  Thank you for your interest.

Thanks,

Ed A. Ayres

Houston Realty Advisors, Inc.

Mitaquye oyasin                                           

Weingarten Unloads Industrial Portfolio in Fl, Tx, Ga, and Virgina

HOUSTON -- Houston-based Weingarten Realty Investors (NYSE: WRI) has completed the sale of its 52-property, wholly owned industrial portfolio to DRA Growth and Income Fund VII for $382.4 million. The sale price represents a capitalization rate of approximately 8 percent.

"We are pleased to acquire this sizable industrial portfolio featuring solid income returns and value-added upside," said David Luski, president and CEO of New York City-based DRA Advisors. "This transaction is exemplary of our strategy of collaborating with public REITs who wish to strategically divest assets via outright sale or joint venture."

The properties total 9.6 million square feet and are located in Florida, Georgia, Tennessee, Texas and Virginia. As part of the transaction, DRA assumed one secured loan of $4.9 million.

For more information on Houston office space, Houston retail space or Houston warehouse space and Houston industrial space, please call 713 782-0260 or see my web site at : www.houstonrealtyadvisors.com  Thank you for your interest !!!!!

Ed A. Ayres

Houston Realty Advisors, Inc.

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A new Houston HOME for Phillips 66 after split with Conoco

Phillips 66 Phillips 66Latest from The Business JournalsFollow this company will build a brand new home in Houston once its split from ConocoPhillips ConocoPhillipsLatest from The Business JournalsFollow this company (NYSE: COP) is complete.
The new headquarters of refining and marketing spin-off company Phillips 66 will be near Interstate 10 and Beltway 8, within 10 miles of ConocoPhillips' current Dairy Ashford location, according to an email sent to employees Tuesday and quoted in the Swamplot blog.
During the two- to three-year construction period on the new facility, Phillips 66 employees will be located in temporary locations in the company’s current space in Westlake Park office buildings and an unidentified building in the Westchase area. ConocoPhillips employees in those locations will relocate back to the Dairy Ashford complex.
ConocoPhillips was not immediately available for comment on the report.
Last July, Houston-based ConocoPhillips said it would split itself into two publicly traded companies, separating its exploration and production unit from the refining and marketing segment in a tax-free transaction. The split is expected to be complete this summer .

For more information on Houston office space, Houston retail space or Houston warehouse space and Houston industrial space, please call 713 782-0260 or see my web site at : www.houstonrealtyadvisors.com  

Thank you for your interest.

Thanks,

Ed A. Ayres

Houston Realty Advisors, Inc.

Mitaquye oyasin                                           

Midway, Pension Fund JV on 119 KSF Houston Office Bldg Purchase

Midway, Pension Fund JV on 119 KSF Houston Office-Building Purchase

Midway Cos. and its joint venture partner, a pension fund client advised by L&B Realty Advisors, have sold part of the office segment of their 1.8 million-square-foot City Centre mixed-use development in Houston. Midway Cos. and its joint venture partner, a pension fund client advised by L&B Realty Advisors L.L.P., have sold part of the office segment of their 1.8 million-square-foot City Centre mixed-use development in Houston. With the assistance of commercial real estate services firm Jones Lang LaSalle, the partners sold One City Centre, a 119,000-square-foot office building within the 37-acre complex. Real estate investment management firm Stockbridge Capital Group is the proud new owner.

One City Centre made its debut in 2008 as the first of what will ultimately be four office towers totaling 425,000 square feet at City Centre. The five-story structure’s tenant roster will be at maximum capacity once again come June.

With demand for Class A accommodations growing stronger and stronger, Houston is presently an office owner’s dream. “The increased competition for space (especially among energy firms) has enabled landlords to quote higher-than-average rental rates for space,” noted a fourth-quarter report by JLL. “And, since there is a scarcity of available quality space in the market, tenants have and will reluctantly agree to high prices as there are no other viable options in some instances.”

The players in the One City Centre transaction have not disclosed the financial terms of the deal. However, with investors clamoring for premier assets in the city, price tags are on the rise. In late December of last year, H&R Real Estate Investment Trust snapped up the 845,000-square-foot Hess Tower, not yet one year old and fully occupied by energy firm Hess Corp., from Trammell Crow Co. and Principal Real Estate Investors at a cost of $524 per square-foot. Also during the fourth quarter, the 242,000-square-foot Westway II, developed in 2009 and fully occupied by four tenants, changed hands, with Wells Core Office Income REIT picking up the property from Dienna Nelson Augustine Co. for $290 per square-foot.

For more information on Houston office space, Houston retail space or Houston warehouse space and Houston industrial space, please call 713 782-0260 or see my web site at : www.houstonrealtyadvisors.com Thank you for your interest.

Thanks,

Ed A. Ayres

Houston Realty Advisors, Inc.

Mitaquye Oyasin                                           

Everythings BIG in TEXAS!!! 1.22 Million SQ Ft Office Lease

So I wonder where Shell SHELL got the $$$$$  , Oh YEA , From ME and YOU!!!   Shell has renewed a 15-year lease for 804,491 square feet in One Shell Plaza and 471,934 square feet in Two Shell Plaza in Houston, a combined 1.22 million square feet of office space, the largest office lease transaction in the world in 2011. Tim Relyea and Joe Peddie of Cushman & Wakefield's Houston office represented Shell in the lease transaction. Hines, the buildings' owner, was self-represented by Charles Elder and Chrissy Wilson. As part of the lease agreement, Hines will make capital improvements to the property, including mechanical and electrical upgrades and redesigned outdoor plaza areas.

For more information on Houston office space, Houston retail space or Houston warehouse space and Houston industrial space, please call 713 782-0260 or see my web site at : http://www.houstonrealtyadvisors.com/ Thank you for your interest.

Thanks,

Ed A. Ayres

Houston Realty Advisors, Inc.

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1st New Office Building in Galleria in YEARS!!!!

Skanska USA is moving ahead on construction of 302,000-square-foot office building in the Uptown/Galleria in Houston.


The 20-story development at 3009 Post Oak Blvd. will be 100% self-financed by Skanska. The podium designed, all-glass curtain office building will include 12 stories of office space atop an eight-story parking garage.

The 3009 Post Oak Boulevard project has been pre-certified as LEED Platinum, including such features as high-efficiency glass, energy recovery wheel and occupancy monitoring systems, lighting control and water savings features.

"Uptown Houston is one of the largest business districts in the United States and headquarters to top corporations around the world," said Michael Mair, executive vice president and regional manager of Skanska USA Commercial Development in Houston.

Skanska USA Building, which has offices in Houston, San Antonio and Dallas, will be the construction manager and Kirksey Architecture is the architect. Skanska tapped Cassidy Turley to provide on-site property management services.

Skanska USA has focused this year on development of office projects in major U.S. markets. The firm also has commercial development groups in Boston, Washington D.C. and Seattle.

For more information on Houston office space, Houston retail space or Houston warehouse space and Houston industrial space, please call 713 782-0260 or see my web site at : www.houstonrealtyadvisors.com Thank you for your interest.


Thanks,

Ed A. Ayres

Houston Realty Advisors, Inc.

NEW NEWS HOUSTON CRE

Houston CRE News:

·         With 64K SF Nexeo Solutions lease, Woodlands Development Company moving forward on 3 Water Waterway Square. (Link) 

·         Wells Core Office Income REIT acquired 242 K SF Westway II (Link)

·         Anadarko ponders office expansion (Link)

·         Coventry/Dinerstein starting Millennium High Street multifamily/retail development (Link)

·         Boxer Property acquired 59k SF, 61% occupied 1110 NASA Parkway office building from C-III Capital Partners (Link)

·         Parmenter Realty Partners purchased Woodland Park Plaza, a 226k SF office, 68% leased building in Westchase (Link)

·         Morgan Keegan moving 24K SF to San Felipe Plaza (Link)

 

For more information on Houston office space, Houston retail space or Houston warehouse space and Houston industrial space, please call 713 782-0260 or see my web site at : www.houstonrealtyadvisors.com  

Thank  you,

Ed A. Ayres

Houston Realty Advisors, Inc.

Mitaquye Oyasin