HOUSTON-Recovery efforts will be ongoing for some time, but today Houston's CBD will reopen after a one-day shutdown as a result of the havoc wreaked by Tropical Storm Allison. Literally every building has been affected, says Hines' chief exec.

HOUSTON-With a merger in the works for the Ports of Houston and Galveston, the time is right to secure industrial space near the ship channel. The latest signing puts Chlorox Products Manufacturing into 44,000 sf at Armour Drive.

HOUSTON-Two class-B apartment complexes, totaling 255 units, have been bought via a $6.9-million financing package. The unidentified buyer has taken title to the Carlisle Apartments and Park Westwood.

HOUSTON-Chicago-based Prime Residential is undertaking its first Houston project, building a 170-unit luxury condo complex in the Uptown-Galleria submarket. The project, which delivers in the fall, includes a $5-million, 7,000-sf penthouse.

HOUSTON-Eight of the city's 16 submarkets are reflecting negative absorption, according to the latest Cushman & Wakefield of Texas accounting. The leaders are in the northwest. The soft market has yet to hit rental rates.

PASADENA, TX-Dallas-based Trammell Crow and Toronto-based Eastbourne Investments have kicked off a 250,000-sf retail project in the community of Pasadena. The center is already 75% leased with big name retailers.

HOUSTON-Situs Realty Services has brought three analysts and a team leader on board for a special servicing and work-out group. The team will aid Wall Street firms in restructuring and liquidating distress loans and assets.

HOUSTON-Convergys Customer Management has found a sublease taker for 24,951 sf at 1201 Louisiana Place in the CBD. The pact with FuelQuest, a Houston-based oil and gas trader, lets Convergys move to Greenspoint without the excess space burden.