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HOUSTON-Trimark Realty Investments outbids six others for the Westfield Apartments after the asset returned to the market because a non-profit failed to make the close in January. With the deal now done, a $1.3-million rehab is waiting to start.
HOUSTON-One tenant signs for 8,541 sf at 12603 Southwest Freeway and another stays in place in 5,979 sf at 2424 Wilcrest Dr. The larger space taker shopped around, then re-upped after being presented with terms too attractive to pass up.
PEARLAND, TX-A Houston seller lets go of the 101-unit Park Place Apartments as the first leg of a 1031 Exchange to swap the property for a newer and larger multifamily holding. The buyer is a Houston syndicate.
HOUSTON-The five-year tenant re-ups 22,605 sf in three CBD locations while crews push ahead on a 280,000-sf facility being built on the outskirts of downtown Houston. Delivery is set for summer 2005.
HOUSTON-Broemer & Associates will change addresses, but stay in the Greenway Plaza submarket. The firm signed a medium-term lease for 3336 Richmond Ave. The office is being prepped for a May occupancy.
HOUSTON-The Allen Group of Carlsbad, CA, makes its Texas entry with a raw materials distribution hub with a land and sea direct connect. CBRE and IMS Worldwide make up the rest of the team for the Houston investor's project.
HOUSTON-James W. Sinclair, in the Houston firm's Corpus Christi office, is named to the newly created post of director of property management. He and a team of 22 oversee three million sf in five cities.
HOUSTON-The seller is a Los Angeles-based investment group and the buyer hails from Houston. And both are working 1031 Exchanges with the transaction, the 200,000-sf Wayside Business Center in the southeast submarket.
HOUSTON-Gulf Interstate Engineering corners the naming rights for the 119,000-sf office building, now being called Gulf Plaza, as part of the seven-year deal for three floors of office space on its way to a class A ranking.
HOUSTON-JS Properties of Portland, OR sells its only asset in town, the 104-unit South Chase Apartments. The winning offer is placed by a Houston investor, who plans on capturing the upside with a rent hike and local management.