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Kansas City, Missouri-based Lockton Cos., the largest property and casualty insurer in Houston, has leased 120,000 square feet in the eight-story Westchase building underway at 3657 Briarpark. Charles Fertitta with Colliers International represented Lockton in the lease.
Several leasing broker partners were honored with Allegiance Awards which recognize their ability to align with the goals, objectives and interests of VEREIT, while constantly showing commitment, loyalty and dedication. Honorees included: Kim Lenardson of Colliers in Houston, TX. Lenardson leases two assets totaling approximately 320,000 square feet in Houston and Port Arthur, TX.
Ritters Frozen Custard & Burgers has leased 2,000 square feet in Clear Lake Marketplace, 3535 Clear Lake City Blvd. John Clinkscales of Fidelis Realty Partners represented the landlord, Clear Dorado Land Associates. Crady Newton of Colliers International represented the tenant.
Miller Road Realty has purchased 92.4 acres on Beaumont Highway adjacent to the 80.5 acres that it purchased in December. Trey Erwin of Colliers International represented the buyer.
American Packing & Crating Inc., a packing and shipping company, signed a two-year extension for the company's 140,782-square-foot space at 409 - 900 N. Witter St. in Pasadena, TX. The single-tenant industrial facility was constructed in 1963 in the East-Southeast Far Industrial submarket. Gary Mabray, Michael Taetz and Bradley Beauchamp of Colliers International represented the landlord, Gulf Winds International, in negotiations.
Greenspoint Mall, located at the northeast corner of Interstate 45 and Beltway 8, is owned by Triyar Cannon Group. Colliers International's Ace Schlameus is marketing the mall. Schlameus says local governmental organizations will be planning to support the mall redevelopment. Exxon Mobil has vacated some 2 million square feet of Greenspoint office space.
The seller, Archway 5555 WSHT, Ltd., was represented by Marshall Clinkscales, Greg Cizik and Edward Edson of Colliers International. The buyer was represented by Dylan Schopper of Northwinds Commercial Realty.
The bulk of these renovations are expected to be complete in December 2016. Bob Parsley of Seattle-based Colliers International is handling the leasing for Park Towers. Combined, there is 222,500 square feet available of the 545,242-square-foot buildings that were built in the early 1970s.
Coy Davidson, a.k.a The Tenant Advisor, has amassed a substantial following — especially on Twitter (25k followers, and counting!). And, it’s no surprise once you read his content. His articles are consistently insightful, enjoyable, and helpful for tenants. Be sure to watch for his recommended reading round-ups at the end of each week.
Longtime Colliers employees include co-chairman and principal Charlie Herder (38 years), co-chairman and principal Bob Parsley (33 years), COO Caroline Freeman (26 years), principal and director Mike Taetz (30 years) and principal Gary Mabray. (Here they are with their headshots from 1998.)
Stafford-based Maintenance Supply Headquarters, which is a national distributor of maintenance supply products in the multifamily industry, will occupy 209,000 square feet of cross-dock building space. The project is currently under construction and will house the company's corporate headquarters.The new facility is slated to be completed in the third quarter of 2016. Bill Littleton, Bill Byrd, Mike Taetz, and Ryan Byrd of Colliers International Group Inc. represented Maintenance Supply in the lease.
Despite a record-setting surplus of sublease and vacant space on the market in Houston, the numbers are poised to get even worse this year. Of the roughly 225 million square feet of Class A, B and C office space in Houston, just less than 15 percent of that, or 33.75 million square feet, is vacant, according to research from the Houston office of Seattle-based Colliers International.
Houston has an oversupply of office space, hotels and apartments, but the market looks good for shopping centers and industrial buildings, says Pat Duffy, president of Colliers International’s Houston office. However, some of Colliers’ year-end research is startling. Consider: only 125 apartment units were absorbed in the fourth quarter of 2015, while some 29,000 units are under construction.
Takeaway: While supply and demand in oil and gas seeks equilibrium, the various commercial real estate segments will adjust according to their own, different cycles. Daily supply of crude oil only exceeds demand by about one per cent, and demand worldwide is growing at approximate one per cent per year-so the balance is not far off; however, only one per cent imbalance was enough to send prices plummeting from $100 to $30!
Demand for medical office buildings and space for ambulatory care is the highest it’s been in nearly a decade as traditional healthcare systems reach into the community, opening more consumer-friendly outpatient services, according to a new analysis. Real estate services firm Colliers International (CIGI) said an already low vacancy rate of below 10% will continue through 2016 and beyond as “healthcare industry employment growth and demographic trends all line up favorably.”
For more than three decades, Bob Parsley has been involved in all phases of the commercial real estate business. A native Houstonian, he has an undergraduate degree from the University of Virginia (College ’76) and the University of Texas Law School (JD ’79). He joined Colliers in 1983 where he is currently the co-chairman and one of the company’s principal shareholders.
Mexssubs International purchased a 15k SF facility at 21245 FM 529 in Cypress. Lee & Associates' Jon Sellers and Mike Spears repped the buyer, and Colliers' Bill Byrd repped seller West 529 Industrial Park.
The Dailey Oil Tools building, a 60,000-square-foot office project in a NewQuest Crosswell business/commercial park in Conroe, has been sold. Colliers International handled the sale of the office building. Tom Condon, Jr. and Jason Tangen represented the seller, CCAC Conroe Holdings LP,and Michelle Soderberg and Todd N. Edmonds represented the buyer.
Colliers International, on behalf of the landlord, Southwest Texas (Clinton) Industrial Park, has leased three distribution spaces in Clinton Industrial Park to three separate tenants. Walter Menuet of Colliers International represented the landlord in all three transactions. The park is now 100 percent leased.
Miller Road Realty purchased 80.4 acres on the northeast side of Houston on Highway 90, an industrial corridor that has vast amounts of outdoor pipe storage. Trey Erwin of Colliers International represented the buyer in the transaction. Erwin said plans for the property are for use as a pipe threading facility.
Colliers International has arranged four office leases at the Rotunda Building located at 5819 Highway 6 in Missouri City. Texas Children's Hospital signed a new lease for 4,857 square feet, and Traci Holman and Jason Baker of Baker Katz represented the tenant. Trivesta signed a new lease for 2,660 square feet on the first floor. Barkley Peschel of Colliers International represented the landlord, Rotunda, in all of the lease transactions.
Colliers SVP Coy Davidson focuses on medical real estate and says it's not being affected by low oil and gas prices. He calls healthcare a nearly bulletproof industry due to population growth, an aging population that needs medical care, and the Affordable Care Act. The original wait-and-see attitude around the ACA has burned off, Coy says, and the purse strings have been cut loose, revealing a lot of pent-up demand for new facilities.
Colliers International has arranged the sale of 16055 Space Center Blvd. in Houston. The property is a multi-tenant, seven-story office building containing 149,144 square feet. The Class A building is situated on seven acres in the NASA/Clear Lake submarket of Houston. Colliers International represented the seller, Parfinco TX LLC.f
Pat Duffy will be speaking at the Retail Forecast Luncheon on Wednesday, December 16. This event is part of an ongoing series of real estate forecast events, a forum for sharing trends and outlooks in a variety of commercial land uses including retail, office, apartment, industrial, hotel/lodging and land.
MiTek is expanding the Houston warehouse to address the needs of local contractors and do-it-yourself customers, where the company has seen increased demand.The warehouse is open and will reach its new full capacity in January of 2016. The expansion is aimed at reducing ship times and heightening customer responsiveness. Colliers International arranged the lease transaction.
Seventy office buildings have 100,000 SF or more of contiguous office space available, according to Colliers International’s third quarter Houston report.Colliers reports 22 buildings have 200,000 SF or more of vacant space, including sublease space.
As the energy industry stumbled, office vacancy increased to 14.5 percent citywide, compared to 12.2 percent in the third quarter of 2014. The Colliers survey covers 1,691 buildings in the Houston area.
The EVEN brand was created by InterContinental Hotels Group in 2012 with a heavy focus on wellness and lifestyle balance. There are only four existing EVEN Hotels: two in NYC, one in Connecticut and one in Maryland. Colliers' Tom Condon Jr. and Charlie Herder repped the seller, Staloch Realty Services' Kevin Staloch repped the buyer, and Old Republic Title's Jennifer Harmon coordinated. Benchmark Bank's Jason Beene provided financing.
MSHQ leased 50k SF of industrial space at 12505 Reed Rd. Boyd Commercial's Alexander Reilly and Bo Pettit repped landlord Crow Holdings. Colliers' Bill Byrd and Ryan Byrd repped the tenant.
Twitter handle: @CoyDavidsonCRE
As SVP of Colliers International, Coy often tweets about the latest trends in real estate and development.
This session will offer the latest research and analysis on what’s currently happening in the healthcare real estate market and where healthcare systems and investors can profit.-Coy Davidson, Senior Vice President/Healthcare & Office, Colliers International
SIOR turned over its board this month. Here's Colliers' Walker Barnett receiving the gavel of presidential power from immediate past president Boyd's Andy Sowell. Other board members include Jeff Lindenberger, Travis Land, Keith Bilski and Dylan Schopper.
Houston is known for two major industries: energy and healthcare. Energy isn’t as dominant as it once was, particularly with the price of a barrel of oil hitting lows that haven’t been seen for years. Not so for healthcare. Coy Davidson, Senior Vice President, Office & Healthcare Services in the Houston office of international brokerage firm Colliers International says growth in the healthcare industry in Houston is phenomenal.
Duma Land purchased a 100k SF office/warehouse building on 6.5 acres at 8201 & 8211 La Porte Fwy. Cushman & Wakefield's Coe Parker, Kelley Parker, John Littman and Tim Thomas repped seller United Stevedoring Corp. Colliers' Trey Erwin and Walker Barnett repped the buyer.
Houston Business Journal is rolling out the finalists for our 15th annual Best Places to Work awards, recognizing top employers for their unique cultures, amenities, benefits and worker-retention and attraction strategies.
Colliers principal/director David Carter takes his family to their house on Lake Livingston at least twice a month in warmer weather and once a month in cooler months. He purchased the house five years ago in poor condition and has basically rebuilt it since. His two sons love it up there because they wakeboard, ski, tube, ride Sea-Doos and fish.
Health care construction is surging in Houston. Some $3 billion is being spent to expand and construct hospitals, medical office buildings and specialized medical facilities throughout the Houston area, according to Colliers International. Almost 800,000 square feet of medical space is under construction.
Huckabee sublet 13k SF of office space from Layne Christensen Co at One Hughes Landing. JLL's Anya Marmuscak and David Buescher repped the sub-tenant. Colliers International's Jay Kyle repped the sub-landlord.
Health care construction is surging in Houston. Some $3 billion is being spent to expand and construct hospitals, medical office buildings and specialized medical facilities throughout the Houston area, according to Colliers International. Almost 800,000 square feet of medical space is under construction.
A new report out from Colliers International shows leasing in the city’s retail market declined in the second quarter due to limited available space. “The retail vacancy rate has dropped to 5.8 percent city-wide, which is the lowest vacancy rate over the last 10 years,” Lisa Bridges, director of market research at Colliers, told GlobeSt.com. “The majority of the new development is located in the suburban submarkets and is mostly grocery-anchored centers.
For the first time in five years, Houston’s office market posted negative net absorption, primarily due to tenants relocating to new buildings and excess space going on the sublease market. Average rental rates remained flat for the most part. However, the average Class A rental rate in downtown Houston increased 2.7 percent to $42.32 per square foot, according to data from Colliers International.
Colliers International has arranged the sale of 6,500 square feet at 13370 S. Gessner Road in Missouri City. AAA Tran Real Estate Management LLC purchased the property. Barkley Peschel of Colliers International represented the seller in the transaction.
Only 1.8 million sq. ft. of office space was leased in Houston in the second quarter of 2015, according to a report from commercial real estate services firm Colliers International. Office experts say this drop, and the vacancy increase to 14 percent, are due to both a new construction glut and fallout from the drop in oil prices last year.
Jim Humphries, an associate at Colliers International, agrees that today's economy is drastically different and isn't as susceptible to a collapse based solely on the energy sector. Humphries, who works in Colliers' Houston office, specializes in investment and capital markets in the region.
Colliers International is pleased to announce the addition of Darren Gowell to our Houston office as Senior Associate. As part of the Houston Office Occupier Advisors Team, Darren will focus on business development, lease negotiations and transaction management. We are thrilled to have Darren join our firm," said Patrick Duffy, Colliers International's president in Houston.
Troubles in the energy industry ripped the Houston office market in the second quarter as the pace of leasing slowed and vacancy rates shot upward. Houston's citywide vacancy rate rose to 14.1 percent in the second quarter up from 11.6 percent the second quarter of 2014, Colliers Intenational said.
Intertek Asset Integrity Management has leased 16,250 square feet of office/warehouse space on 2 acres at 101 Old Underwood, Building F, La Porte. Kelley Parker, John Littman, Coe Parker and Tim M. Thomas of Cushman & Wakefield represented the landlord, Houston Associates. Gary A. Mabray of Colliers International represented the tenant.
“It's the new ‘live, work, play’ idea,” says Lisa Bridges, of Colliers International, a commercial real estate service company. “It’s set up to where people can walk from their homes to their office, do their shopping, and walk back home.” Bridges says, just like a diversified economy is good for the long term health of the city, the balance of new opportunities all around Houston is beneficial to all.
Colliers International's most recent report shows negative absorption in Houston's office market for the first time in five years. Lisa Bridges, market research director for Colliers, cautions that the numbers reflect the net absorption — all move ins and move outs, including sublease space.
Colliers International has arranged sale of a 17.4-acre tract of land at the southwest corner of Hufsmith-Kohrville and Spell roads in Tomball for the relocation and consolidation of Packers Plus Energy Services Inc.’s Houston-based operations to a single campus.
Office sales held pretty steady through the quarter, according to Colliers' Q2 report. 20 transactions closed, averaging $222/SF and a 6.87% cap rate. That's pretty close to our average over the last few years, Colliers director of research Lisa Bridges tells us.
Colliers International, which represented the Tomball Economic Development Corp. in the deal, announced the sale of a 17.4-acre tract at the southwest corner of Hufsmith-Kohrville and Spell Roads in Tomball. The $21 million project is the first to be announced in the 120-acre Tomball Business and Technology Park.
Q10 Kinghorn, Driver, Hough & Co. , one of the oldest commercial real estate firms in Texas, has relocated its offices to the 2000 West Loop South building in the Galleria area. Jay Kyle and John Parsley with Colliers handled the 9,000-square-foot lease.
Intertek Asset Integrity Management leased 16k SF at 101 Old Underwood in La Porte. Cushman & Wakefield's Kelley Parker, John Littman, Coe Parker and Tim Thomas repped the landlord, and Colliers' Gary Mabray repped the tenant.
Intrua Financial expanded to 11k SF in 1502 Augusta. Tarantino's Peggy Rougeou and Eric Ohlson repped the landlord, and Colliers' Chadd Bolding repped the tenant.
Woodlands Medical Properties, an out-of-state investor, purchased ALORE Center. The MOB/office/surgery center facilities are at 26710 I-45 in The Woodlands. Colliers' Beth Young repped the seller.
First, the owners upgraded the common areas and divided the large floor plates. Now things are looking up; Colliers has aggressively marketed, bringing in four new tenants this year. And Matt and Emily locked in $6M of non-recourse money at a mid-4% interest rate.
Developments such as Remington Square, the Sam Houston Business Park and the DCT Northwest Crossroads Logistics Centre broke ground on projects within the past year as initial phases filled up. All three projects are located around the northwest Beltway, where the average cost to lease is significantly lower than other major submarkets, according to data from real estate company Colliers International.
Integrated Global Services leased 27k SF of industrial space at 6623 Willowbrook Park. NAI Partners' Travis Land and Nick Peterson repped landlord Carson Cos. Colliers' Jason English and Barrett Gibson repped the tenant.
Leasing Brokers: Colliers' Bob Parsley and Norm Munoz. Hughes Landing has been a leasing success (One Hughes Landing opened at 92% pre-leased, and Two Hughes Landing around 65%), but the energy market has affected its most recent 321k SF building, which is anticipated to open at approximately 15% pre-leased. Bob says Hughes Landing is still getting activity—recent leases are pushing Two Hughes' occupancy over 92%.
Colliers International has arranged the sale of ALORE Center, which comprises medical office and office buildings and a surgery center. The property is located at 26710 I-45 in The Woodlands submarket of Houston. Beth Young of Colliers International represented the seller. The buyer was Woodlands Medical Properties, an out-of-state investor.
Colliers International Group Inc. (Nasdaq:CIGI) (TSX:CIG) and FirstService Corporation (Nasdaq:FSV) and (TSX:FSV) on Monday announced the completion of their separation into two independent, publicly traded companies – Colliers International Group Inc. and new FirstService Corporation ("FirstService").
Integrated Global Services has leased 27,136 square feet at 6623 Willowbrook Park. Travis Land and Nick Peterson of NAI Partners represented the landlord, Carson Cos. Jason English and Barrett Gibson of Colliers International represented the tenant.
Hooters of America LLC has finalized an agreement with global commercial real estate services firm Colliers International to have the firm advise Hooters on real estate needs and provide strategic counsel as the brand expands domestically and internationally. Colliers International’s Bob Browning, VP for retail services, and Robert Hantgan, senior VP, are managing the exclusive assignment.
Pathmark Transportation signed four leases totaling 334k SF across the country, including 76k SF at 14810 North Fwy in Houston (pictured). Transwestern’s Cameron Maness repped the tenant in all four leases, and Colliers’ Walker Barnett repped the landlord in the local deal. Pathmark’s expansion was driven in part by the addition of Bed, Bath & Beyond to its client roster.
Colliers Fort Bend managing director Kolbe Curtice (another event panelist, pictured with wife Gwen and daughter Mallory) and co-chairman Charlie Herder are marketing Newland Communities' commercial tracts at University and 59 in Telfair. The 150 acres are the last available commercial property along the freeway in Sugar Land.
Colliers International has released its first quarter 2015 Houston Retail Market Research and Forecast Report. Houston’s retail market vacancy hit another record low — 6.0 percent — pushing rents higher. Houston’s retail market posted 707,653 sf of positive net absorption in 1Q 2015.
During the first quarter of this year, “3.8 million square feet of Houston’s industrial inventory was absorbed, significantly more than the 2.1 million square feet absorbed in the same quarter one year earlier,” according to Colliers International’s Q1 2015 Houston Industrial Market Report.
MCGC Properties purchased two metal office/warehouse buildings totaling 12k SF at 1513 Mintz Ln. European Auto Techniks (a full-service Porsche shop) will relocate there. Colliers' Tom Condon Jr. repped seller Mintz Lane Project, and Greenbriar Real Estate Services' Rich Norris repped the buyer. StarTex Title's Diana Gamez coordinated, and JPMorgan Chase provided SBA financing.
Ritter's Frozen Custard plans to open 11 to 13 locations in the Houston market, Occhiogrosso said. The chain looks for sites in community shopping centers that are close to where people live, rather than in malls or lifestyle centers. Ideal trade areas have a median age of 34 years and a high percentage of the population with children.Crady Newton of Colliers International, who is assisting with the site selections, identified The Woodlands, Sugar Land, Clear Lake, Pearland, Memorial, Bellaire and West University as potential markets areas.
In the first quarter, the year-over-year office vacancy rate increased 70 points, from 11.8 percent to 12.5 percent, and the absorption rate dropped from 2.3 million square feet to 1.2 million square feet, according to a report by commercial real estate services firm Colliers International.
Ray’s pictured here at the Colliers golf tourney last month with MBA Construction's Steve Carter, Houston Furniture Bank's Oli Mohammed (a charity KDH supports), Colliers' Pat Duffy and SepMarke Interests' Mark Sepulveda.
Fort Bend County is a national and regional leader in household income, wage growth, job growth and low crime, Greater Fort Bend EDC EVP Jack Belt said at Bisnow’s Future of Fort Bend County event yesterday morning. It’s also amazingly diverse and incredibly busy….Colliers Fort Bend managing director Kolbe Curtice and Rubicon Realty Group principal Peter Jacob both work on Telfair (Kolbe leasing, Peter developing), one of the most buzzed-about parts of Sugar Land today. Kolbe says it’s the most fun project he’s ever done, and believes University and 59 will be the next key intersection in Fort Bend. As the City winds down its work on the performing arts center, he thinks it'll start focusing aggressively on building some hotel/conference facilities.
Colliers International is a sponsor of Bisnow's "Fort Bend County" event on May 27 (register here). Whether locating your new space, expanding your market presence, or investing in your next development, Colliers Sugar Land will help accelerate your success.
Just over half of half of Houston’s economy is directly tied to the energy industry, according to Colliers International’s Houston Office Market Q1 Research & Forecast Report, which did note there has been an increase in available sublease space.
KBT Enterprises purchased a 22k SF office building at 6620 Cypresswood Dr. Colliers' Michelle Soderberg and Todd Edmonds repped seller AJA Holdings. Colliers' Todd Edmonds and Michelle Soderberg handled two land sales in Magnolia for IAB Investments. K-KIES VI purchased 6.5 acres on FM 2978 (repped by JLL), and Egypt Land Developments bought 11 acres on Egypt Lane at Research Forest
Cap rate disparity is shrinking between on-campus and off-campus/suburban healthcare properties, Colliers co-chairman Bob Parsley tells us. Now financing is more tied to a property's or owner's affiliation with top hospital systems. Bob (here with NGKF's Sam Sheff) says Texas is unique from a healthcare perspective—we have no Certificate of Need requirements and our free market makes people nervous.
Houston’s retail vacancy hit a record low in the second quarter, according to Colliers International. Vacancy was 6.3 percent in the second quarter, down from 6.8 percent a year earlier. Houston’s retail market posted 1.2 million SF of positive net absorption in the second quarter. Some of the tenants who opened new locations during the quarter include Whole Foods Market, Kroger Marketplace, Conn’s Appliances, Horse & Rider, Vineyard Vines, Trina Turks, Brucettes Shoes and Harbor Freight Tools.
Just over half of half of Houston’s economy is directly tied to the energy industry, according to Colliers International’s Houston Office Market Q1 Research & Forecast Report, which did note there has been an increase in available sublease space. The report noted that available sublease space rose 33 percent between the fourth quarter of 2014 and first quarter of 2015, going from 4.5 million square feet to 6 million square feet.
Blame stunted oil prices or the tsunami of deliveries: Houston office rent growth fell out of the top 10 in North America, according to new data by Colliers. But there's good news: our leasing activity is still among the best on the continent. Houston was fifth on the continent for CBD office rent growth in Q4, with more than 10% year-over-year increases. That's dropped considerably; Colliers recorded only 1% growth in Q1 '15. San Francisco held onto the No. 1 slot, growing rates 14% from Q1 '14 to Q1 '15. On the other hand, Houston's absorption is still nearly the best in North America. Last quarter, we soaked up 1.3M SF of office space, only slightly second to Dallas. That's not much of a drop from 2014, when we absorbed 6.8M SF, or about 1.7M SF on average each quarter.
MAGNOLIA, TEXAS — Colliers International has arranged the sale of 11 acres on Egypt Lane at Research Forest in Magnolia. Todd Edmonds and Michelle Soderberg of Colliers International represented the seller, I.A.B. Investments Inc., in the transaction. Egypt Land Developments LP was the buyer.
HOUSTON — The San Diego and Houston offices of Colliers International have arranged the sale of a 10,125-square-foot, single-tenant retail property located at 959 Bay Area Blvd. in Houston for $4.7 million. A CVS that has 11 years reaming on its 22-year lease occupies the property. Jon Busse and Charles Herder of Colliers International represented the seller, Burlingame Gulf LLC. David Wells of Wells Net Lease Group and JRW Realty represented the buyer, Exchange Right Real Estate LLC. The buyer is a tenant in common entity that specializes in the acquisition of single tenant, net-leased properties.
Every year, the Houston Business Journal recognizes the the top local commercial real estate brokers with Heavy Hitters awards.
Brokers were asked to provide their 2014 transactional volume amount in dollars and total number of deals. Though brokers must be based in Houston, deals do not have to be in Houston.From that data, Houston's top commercial real estate brokers were ranked and sorted into six categories — industrial, office tenant, office landlord, retail, land and investment, which includes multifamily brokers. The rankings will be published in a special edition of HBJ May 8.
Land: Todd Edmonds, Colliers International
The slowdown in the energy sector is impacting office leasing in The Woodlands, says Colliers co-chairman Bob Parsley. But Howard Hughes is balancing that out by starting new ventures, EVP Paul Layne tells us. The firm is creating a new self-storage division, which will break ground on its first property in the next three months.
As oil prices plummeted to near six-year lows over the past several months, some multifamily developers have stalled their proposed projects and development plans in Houston. Pat Duffy, president of Colliers International's Houston office, estimates that between 40 and 70 proposed projects may have been postponed or canceled amid the economic uncertainty surrounding oil prices.
Entries were judged on impact to Houston, such as job creation, innovation, best use of land, site plan, development of surrounding neighborhoods, visual plan, amenities and being environmentally friendly. Judges included William Byrd, principal of Colliers International.
Home Consignment Center leased 10k SF at Wood Ridge Plaza in Oak Ridge North. The space is directly across I-45 from The Woodlands Mall. Colliers' Crady Newton repped the tenant, and Wulfe & Co's Katherine Wildman and Bunny McLeod repped the landlord.
Colliers compared major North American metros' office markets against each other.
According to a recent Colliers International report, Houston’s office market posted 2.2 million square feet of positive net absorption in Q4 2014, bringing the year-end total to 6.8 million square feet. In addition, over 2.1 million square feet of new inventory was delivered during the same quarter, bringing 2014 year-end delivered inventory to over 6.6 million square feet. ExxonMobil began moving into a portion of its new north campus (and is slated to complete its move by the spring) and Southwestern Energy moved into its new corporate headquarters, just south of the ExxonMobil campus.
“The heavy industrial manufacturing base, serving the downstream activity located around the Port of Houston, is investing billions of dollars in new projects that will be ongoing for years,” David Boyd, co-managing director of Boyd Commercial/CORFAC International, told GlobeSt.com. Boyd will appear on the panel “The Houston Port, The Grand Parkway, and What’s Next for Industrial Real Estate,” moderated by Rhett Miller, regional director of Southeast VTS Inc. Other panelists include Walker Barnett, principal of Houston Colliers International; Jordan Frisby, economic analyst, Port of Houston Authority; and David Hudson, senior vice president-Houston, Duke Realty.
Colliers International’s Logistics and Transportation Solutions Practice Group today announced that the “2015 Impact of Changing Energy Prices on the Global Supply Chain Conference” will be held in Houston, May 13-15, 2015, featuring leading experts in the energy, supply chain and logistics industries.
Colliers co-chairman Bob Parsley (another panelist) says the economy has slowed, but he’s still getting tenant interest for the Class-A office space he’s leasing in The Woodlands.
Colliers compared major North American metro office markets against each other. Here's how Houston ranks.
SEATTLE—The third quarter marked another chapter in the ongoing success story of the industrial sector across the US and Canada, and Colliers International doesn’t see the sector losing its mojo anytime soon.
Trenwa leased a 17k SF facility at 34229 Sunset Ln in Brookshire. TNRG’s Patrick Wolford and Preston Yaggi repped landlord Gecko Holdings, and Colliers’ Blake Gibson repped the tenant.
SALES - An undisclosed investor purchased 39 acres on AJ Foyt Road just north of FM 2920. Colliers' Tom Condon Jr repped the seller, and Alamo Title's Patti Kozole coordinated closing.
SPRING, TEXAS — Colliers International has arranged the sale of 2.3 acres on the north side of Spring Cypress Road just east of TC Jester Boulevard in Spring.
The market for warehouses and industrial space was exceptionally hot in Houston in 2014, according to Colliers International. Some 10.2 million square feet of industrial space was filled last year in Houston, up from 7.4 million square feet of absorption in 2013, Colliers reported.
Information was obtained from questionnaires completed by company representatives and HBJ research. In the event of a tie, the total square footage of local transactions closed in 2014 is the secondary ranking criteria. If the tie persists, firms are listed alphabetically. NOTE: Data reported for 2014 indicates data as of Nov. 30, 2014.
New office and retail developments are underway in Spring as thousands of employees start work in the area at Exxon Mobil Corp.'s 385-acre campus and Southwestern Energy Co.'s new headquarters.
HOUSTON--The Port of Houston and the city’s industrial outlook will be the focus of a panel at the upcoming RealShare Houston conference, on March 31 at The Houstonian hotel.
SPRING, TEXAS — Colliers International has arranged the sale of 2.3 acres on the north side of Spring Cypress Road just east of TC Jester Boulevard in Spring. Makhan Banga and Rashpal Banga were the buyers. Tom Condon Jr. of Colliers’ office in The Woodlands represented the seller, the Schultz Family Trust.
Houston is ranked as a top investment market for 2015, proving that non-coastal markets continue to pique investor interest. Will this interest hold strong despite the recent volatility in oil prices?
Developers are increasingly looking to develop new residential projects on the east side of Houston, according to an industry expert.
While turmoil in the energy sector has been cooling off most of the commercial real estate market, the health care industry shows no signs of slowing down, according to a recently released report by Colliers International.
Houston companies are reacting quickly to the downturn in crude oil prices, in many cases putting excess office space on the market, a panel meeting in Houston concluded last week.
HOUSTON – Energy companies are putting sublease space on the market in Houston where an oil price collapse has derailed the expansion plans for a number of firms, according to speakers at a real estate luncheon Tuesday.
Developers have shelved plans to build some 50 multifamily projects in Houston, where a sharp drop in oil prices has dampened the local economy, according to Patrick Duffy, president of Colliers International in Houston.
KD Investments purchased an 18k SF facility on 15180 Grand Point Rd. TNRG’s Robert McGee and Chase Cribbs repped the buyer, and Colliers’ Walker Barnett repped seller Corporate Property Associates 9.
HOUSTON – A whopping 6.8 million square feet of office space was filled in Houston last year, despite big gains in rental rates, according to the year-end report by Colliers International.
Bob’s most exciting transaction last year was far from home—he (in partnership with Colliers’ Chicago and Richmond offices) handled a 218k SF lease for McGuire Woods in Richmond, VA, which kicked off a Class-A development in the CBD.
Conor Commercial Real Estate (a member of the McShane Cos) and USAA Real Co acquired a 36-acre site in Missouri City and are planning a three-building, 526k SF development called Gateway Southwest Industrial Park.
With over 2.1 million square feet of new inventory delivered during the fourth quarter, the year-end delivered inventory was over 6.6 million square feet in 2014. ExxonMobil is one of the key motivators.
Phoenix–Colliers International in Greater Phoenix recently completed the sale of the 228-unit Promontory Point Apartments, a Class B community in Austin, Texas.
Colliers International announced the sale of a ten.9-acre tract at Veterans Memorial Drive and Mitchell Road for development of a 24,000-square-foot Department of Public Safety
Conor Commercial Real Estate, a member of the McShane Cos., and joint venture partner, USAA Real Estate Co., have acquired 36 acres at Beltway 8 and U.S. 90 in Missouri City for Gateway Southwest Industrial Park.
Colliers International announced the sale of a 10.9-acre tract at Veterans Memorial Drive and Mitchell Road for development of a 24,000-square-foot Department of Public Safety building.
An industrial developer purchased 36 acres in the northeast quadrant of Beltway 8 and US 90A in Missouri City. Colliers’ Tom Condon Jr repped the seller and NAI Houston’s Ed Bane and Jon Michael repped the buyer.
San Antonio-based USAA Real Estate Co. and Illinois-based Conor Commercial Real Estate, a member of The McShane Cos., are developing an industrial park in Missouri City.
AKD Properties purchased two buildings totaling 44k SF of new construction at 13715/13719 FM 529. NAI Houston’s John Ferruzzo and Nick Peterson repped seller Axis Texas Development Group. Colliers’ Barrett Gibson and Jason English repped the buyer.
BOSTON (AP) - The Boston Globe is in negotiations with a potential buyer for its Morrissey Boulevard headquarters, the newspaper’s chief executive said.
Winstanley Enterprises of Concord wants to turn the 16.5-acre Dorchester site into a mixed-use property, Mike Sheehan told employees on Tuesday.
The Globe in April announced it had hired Colliers International to solicit bids for the 815,000-square-foot facility and surrounding property.
Medical office development and hospital systems expert Coy Davidson, a senior vice president at Colliers International, shared his knowledge on the healthcare sector and medical office buildings during a live Twitter chat with CPE editors in 140 characters or less per Tweet.
Davidson has been directly involved in more than 4 million square feet of office lease and sales transactions and more than 700 acres of commercial land site deals for a wide variety of clients, ranging from Fortune 500 corporations to Houston-based firms and small businesses. What follows is a transcript of the exchange.
HOUSTON – Seventy industrial buildings are under construction in Houston, where a continued expansion in the energy industry has driven up warehouse rents significantly in the last year.
“Houston’s industrial market remains one of the healthiest in the U.S. primarily due to continued expansion in the oil and gas industry. It has accelerated Houston’s job growth, increasing demand for housing and home building supplies,” says the third industrial market quarter report by Colliers International.
THE WOODLANDS, TX (June 4, 2014) - Colliers International is pleased to announce the sale of a 58 acre tract from the Woodlands Development Company to Houston Methodist Hospital for the development of a new Hospital Campus in The Woodlands.
Groundbreaking on the new 470,000 square foot hospital in The Woodlands, which will be built at the intersection of TX 242 and I-45, is expected in early 2015, with the hospital to be completed in 2017. Construction includes a 135,000 square foot medical building, which will open in late 2015.
SUGAR LAND, Tex.--Vista Equities has purchased the 14.734 acres at the northeast corner at Highway 59/Interstate 69 and University Boulevard in the master-planned community of Telfair in Sugar Land. Preliminary plans for the corner include approximately 160,000 square feet of mixed-use commercial development including retail, office, free-standing full-service restaurants, and pad sites for banks and other similar uses.
Charlie Herder, Kolbe Curtice and Corbin Janssen with Colliers International are representing Newland Communities, the owner of Telfair, to market the property.
Colliers co-chairman Bob Parsley hopes to see you in line for popcorn at the cinema this weekend: His close friends from UVA wrote and produced Field of Lost Shoes, he invested in it, and his daughter worked on the production team. It was selected as the best dramatic feature at the GI Film Festival in Washington, DC this summer. The film is based on the true story of the Battle of New Market. Be sure to tell him what you think!
More than half of the 90 acres of prime commercial property in Sugar Land that was recently put up for sale at the master-planned community Telfair have sold with medical offices, a mixed-use development and multifamily project in the works.
Approximately 40 acres are left for sale at the southeast quadrant of U.S. highways 59 and 69 and University Boulevard. San Diego-based Newland Communities, the developer behind the master-planned community Telfair, put the property up for sale in February, and various-sized tracts have sold fast to different developers. Colliers International is marketing the land.
HOUSTON—When APF Properties was seeking a partner to acquire an office building in this city’s ritzy West Loop/Galleria area, it was turned down by 60 investor groups that considered the deal too risky. As a result, APF ended up buying the building solo.
Inspectorate America Corp. is adding on to its headquarters at 12000 Aerospace near Ellington Field. Carrie Powledge, leasing director of Rosemont Realty, represented the landlord. Don W. Schmidt, managing director/corporate solutions with Colliers International, represented the tenant along with John S. Parsley.
Inspectorate America Corp. is adding on to its headquarters of 10 years at 12000 Aerospace near Ellington Field. Carrie Powledge, leasing director of Rosemont Realty, represented the landlord. Don W. Schmidt, managing director/corporate solutions with Colliers International, represented the tenant along with John Parsley.
Westchase I & II signed three new tenants totaling over 27k SF, boosting the occupancy to 92%. Colliers' Jay Kyle represented Victor O Schinnerer & Co for 5,226 SF.
Three Austin commercial real estate brokers have left HPI Real Estate to create an office of Colliers International.
Chicago-based Molto Properties and Austin-based Generational Commercial Properties will develop a speculative industrial project in north Houston, according to a press release from Colliers International.
Two Carl’s Jr. restaurants are coming to Pasadena. One is underway on Red Bluff Road at Pasadena Boulevard, and the other is planned on Fairmont Parkway at Lily Street. Marshall Clinkscales, a Bay Area Houston Economic Partnership member and broker with Colliers International, represented the seller for the Fairmont Parkway site.
Development has begun on a large tract of property that potentially could bring over a billion dollars of new capital investment and house thousands of employees in the Sugar Land area, and about half of it is still up for grabs. Colliers brokers Charlie Herder, Kolbe Curtice and Corbin Janssen are overseeing the sale.
Fort Bend ISD's Gifted and Talented (G/T) Mentorship Program coordinators invited eight business leaders from the Fort Bend and Houston communities to serve on a professional panel to meet with members of the 2013-2014 Gifted/Talented Mentorship Class and share their perspectives regarding college, career paths, goal-setting and other topics. Kolbe Curtice of Colliers | Houston served on the panel.
Colliers co-chairman Charlie Herder once held several state records for the 440-yard run (now the 400 meter dash because the metric system is a big bully), and he's helped grow the firm from seven employees to over 80 today. But those pale in comparison to what he calls his greatest achievement: marrying his wife Carol.
Charlie Herder (a former chemical engineer for Exxon) is staying on top of all the healthcare development in Telfair, where Colliers just helped Empire Commercial Development kick start a 56,000 SF MOB.
Colliers International | Houston is pleased to announce the addition of Tom Condon, Jr. as senior vice president in our Woodlands Office. Mr. Condon is known for providing his clients a distinct advantage in the successful resolution of challenges faced in today’s real estate market.
Colliers International has opened its third Houston-area office, setting up shop at 1790 Hughes Landing Blvd., Suite 250. The office, which has been open for less than a month, is focusing on land and investment sales in Montgomery County, which is the far northern fringe of the metro area.
Although a big part of our office's core business revolves around assisting new businesses and investors to buy or lease commercial property here in Fort Bend County, as our business community has grown and matured over the past fifteen to twenty years, we are seeing an increasing number of companies approach us each year to assist them in finding space to relocate their existing businesses.
The Woodlands Development Company (TWDC), a wholly-owned subsidiary of The Howard Hughes Corporation (NYSE: HHC), today confirmed that Layne Christensen Company (Nasdaq: LAYN) has signed a 51,152-square-foot lease for the top two floors of One Hughes Landing, the first office building to be constructed at Hughes Landing, a 66-acre, mixed-use development situated on 200-acre Lake Woodlands. With construction just beginning, the building is already nearly 30 percent pre-leased. TWDC is being represented by Robert S. Parsley and Norman V. Munoz of Colliers International for the leasing of One Hughes Landing. Layne Christensen was represented by Sven Sykes of Colliers International (Chicago), Brian W. Johnson of Colliers International (Kansas City) and Jay Kyle of Colliers International (Houston).
Colliers co-chairman Bob Parsley says absorption is actually decreasing now in the area because there’s no available space. 77% of office deals in the submarket last year were out of state relocations, and Bob expects that trend will continue as companies in struggling states like California and Illinois are attracted to the business and family friendly environment.
Demand for office space is particularly strong. In fact, 3 Waterway Square is 90% preleased nearly a year before delivery. As for the retail portion, Paul tells us it’ll focus on vibrant restaurants and entertainment but steer clear of soft goods. Gensler is handling design, and Colliers’ Bob Parsley and Norman Munoz are leasing the office space.
Energy Alloys, LLC, a global provider of oilfield metals, services, and solutions to oil and gas manufacturers and service companies, announced that it is relocating its corporate headquarters from 350 Glenborough Drive in Houston to approximately 37,000 rentable square feet at 3 Waterway Square, a new 232,000 square-foot Class A office building under construction in The Waterway Square District of The Woodlands Town Center. Robert S. Parsley and Norman V. Munoz with Colliers International represented The Woodlands Development Company.
Honeywell International leased 44k SF, repped by Colliers’ Andres Sexson and Gary Mabray.
The Howard Hughes Corp.’s wholly owned subsidiary, The Woodlands Development Co., soon will begin construction of a mixed-use development, Hughes Landing at Lake Woodlands. Plans for the 66-acre development include up to eight office buildings, a boutique hotel, apartments and retail and entertainment venues, Dallas-based Howard Hughes said Wednesday. Robert Parsley and Norman Munoz of Colliers International are representing The Woodlands Development Co. for the leasing of both One Hughes Landing and 3 Waterway Square.
In the final stretch of the first round of the Houston Business Journal’s Social Madness presented by Capital One Spark Business, companies are pulling out the big guns to win spots in the second round of the competition.
Take Colliers International’s Houston office, a competitor in the small companies category that has more points than any company — large, medium and small — in the competition.
With nary a tenant commitment on the table, Myers Crow & Saviers Ltd. Prepares to kick off construction of Mason Creek Office Center, a 135,000 square foot building in Houston’s Energy Corridor in Katy, Texas. This time is the right time. As noted in a report by commercial real estate services firm Colliers International, expansion in the energy sector has triggered a significant increase in demand for office space, and large segments of premier accommodations are particularly coveted, yet hard to find.
3 Waterway is situated at the corner of Lake Robbins Drive and Woodloch Forest Drive and was designed by Elkus Manfredi. The building is slated for completion in early 2013. The preleasing, as well as $43.3M of financing from Texas Capital Bank, mean the start of construction is “imminent,” according to a release by Howard Hughes Corp. As for the three buildings newly proposed, they would be constructed on nine acres immediately west of the McKesson Building. NAI Houston’s Jason Whittington repped Waste Connections, JLL’s Dan Bellow, Beau Bellow, and Diana Dunlap repped Nexeo Solutions, and Colliers’ Bob Parsley and Norman Munoz repped The Woodlands Development Co on both deals.
After securing a second major tenant for Three Waterway, The Woodlands Development Co. is considering adding up to three more office buildings in The Waterway Square District. The Woodlands Development Co. was represented by Robert Parsley and Norman Munoz of Colliers International.
Waste Connections Inc. signed a lease for 49,929 square feet at 3 Waterway Square Place in The Woodlands, TX. In addition, Nexeo Solutions expanded its space at the structure from 64,046 square feet to 106,710 square feet. Robert S. Parsley and Norman V. Munoz of Colliers International represented the landlord, The Woodlands Development Company.
“This is such a dynamic market. The Woodlands represents 20 percent of absorption in the Houston suburban market but just over 4 percent of the office inventory. Demand seems to always outpace supply up here,” said Bob Parsley, co-chairman and principal for Colliers International during the “Future of The Woodlands” real estate event.
Two leases totaling more than 156,000 square feet will be the catalyst for starting construction on 3 Waterway Square Place. According to a press release from The Woodlands Development Company and its ownership, Howard Hughes Corp., ground breaking on the 234,000 square foot Class A office building is imminent. The Woodlands Development Company was represented by Robert S. Parsley and Norman V. Munoz of Colliers International.
The panel at Future of The Woodlands Bisnow Event composed of: Andarko director or real estate Boyd Burdett, BCRE VP Rip Reynolds, Black Forest Ventures founder Dirk Laukien, The Woodlands Area EDP CEO Gil Staley, Research Forest Lakeside managing partner James Warmack, Colliers co-chairman Bob Parsley, and D.E. Harvey Builders CEO David Harvey.
More than 900 people, mostly representatives from Houston-area real estate firms and development companies, attended the Bisnow conference February 21 at The Woodlands Waterway Marriott Hotel and Convention Center. This conference was dubbed "The Future of The Woodlands" and featured some of the key developers of The Woodlands. James Warmack, founder of Research Forest Lakeside, Bob Parsley, co-chairman of Colliers International, Rip Reynolds, vice president of CB Richard Ellis and Dick Laukien, founder of Black Forest Ventures, each discussed development plans in The Woodlands and the culture that has led to its growth and popularity.
After six years as a tenant, Webster Surgical Specialty Hospital recently purchased the Houston Physicians' Hospital located at 333 North Texas Avenue. The hospital group was represented by Jim Pratt with Colliers International.
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