Lionstone Investments Shuts Down After 23 Years in Business
Lionstone Investments is set to leave a significant amount of vacant office space in downtown Houston as it prepares to wind down its operations. Ameriprise Financial, the firm’s parent company, will transition the firm’s $5.5 billion in assets to other investment firms over the next several months, the Houston Business Journal reported. Lionstone, founded in […]
Interra Capital Continues Houston Office Buying Spree
Interra Capital Group has acquired a three-building office complex in northwest Houston, its latest investment in the city. The 392,400-square-foot Remington Square, at 10603, 10613 and 10713 West Sam Houston Parkway, was purchased from New York-based BGO, the Houston Business Journal reported. JLL’s Kevin McConn, Marty Hogan and Rick Goings represented the seller in the […]
Dick’s Sporting Goods Brings Entertaining Concept to Arlington
A concept that combines retail with simulated sports and workout classes is on the way to the Parks Mall in Arlington. Dick’s Sporting Goods is building out the 120,000-square-foot former Sears store for House of Sport, the Fort Worth Star-Telegram reported. Brookfield Properties owns the mall, at 3871 South Cooper Street, and Sears closed in […]
Foreclosure Looms for Houston Multifamily Investor
A local multifamily investor could lose two multifamily properties in a suburb of Houston to foreclosure at next month’s auction. Falls Apartment Group allegedly defaulted on $33.5 million in debt for the 468-unit Falls of Las Villas and the 514-unit Falls of Alta Vista, according to Roddy’s Foreclosure Listing Service. The debt equates to $34,100 […]
$227 Million Refinancing for the Union in Dallas’ Uptown
One of Dallas’ most notable mixed-use developments has solidified its financial standing with a refinancing deal. A joint venture between KB Asset Management Company and RED Development has secured a $227 million loan for The Union complex at 233 North Field Street in Uptown, the Dallas Business Journal reported. The debt amounts to almost $284 […]
Huge Office Vacancies in Texas Could Deplete Tax Base
With vast stretches of office space sitting empty, two of Texas’ largest cities are confronting an economic challenge that goes beyond just real estate. Jay Wall III of Moody Rambin in Houston (Moody Rambin) Dallas had 53 million square feet of empty office space at the close of the first quarter, and Houston followed closely […]
Ready Capital to Foreclose on Historic San Antonio Buildings
A stalled historic conversion effort in downtown San Antonio may be on the verge of unraveling altogether. The Hedrick Building, at 601 North St. Mary’s Street, is set to hit the Bexar County foreclosure auction block next month, potentially upending plans to convert the 10-story, 42,000-square-foot building into an extended-stay hotel, the San Antonio Express […]
Hines Spends $20M on Law Firm’s Houston Office Buildout
How much does a “flight to quality” cost? For law firm Clifford Chance’s new digs, Hines is shelling out $20 million. The Houston-based developer is spending the sum on building out 60,400 square feet of space in Houston’s Texas Tower, according to a recent filing with the state. That comes out to more than $330 […]
Burlington to buy 15 Conn’s Retail Leases in Bankruptcy
A recent retail bankruptcy is paving the way for a New Jersey-based department store. Burlington has acquired over a dozen real estate leases, including 10 in Texas, that were formerly held by furniture and appliance retailer Conn’s, the Houston Business Journal reported. The Woodlands-based Conn’s, led by CEO Norman Miller, filed for bankruptcy in July, […]
Chevron Spending $67 Million to Renovate Houston Headquarters
Plans for a $66.5 million renovation at Chevron’s downtown Houston offices have been set in motion, following the oil and gas giant’s relocation from California to Texas. Chevron, led by chairman and CEO Mike Wirth, is building out its Houston headquarters, with plans to renovate the upper levels of its 40-story building at 1500 Louisiana […]
