By Katherine Feser
Principal Real Estate Investors will expand its Bay Area Business Park with a third phase that will add 1.33 million square feet to the southeast Houston industrial submarket, Stream Realty Partners announced.
Stream, a real estate development and management company, got approval to expand the park following Principal's acquisition of 95 acres adjacent to the park, which was developed on 137 acres at Red Bluff Road and Bay Area Boulevard beginning in 2009. Stream developed the park, which will total at least 3.35 million square feet with the expansion.
Phase III will consist of three buildings of 250,000, 300,000 and 784,000 square feet, with the largest building expandable to 1 million square feet. The project is near Port Houston's Bayport and Barbours Cut shipping terminals.(more…)
Powers Brown Architecture, an international professional services firm practicing architecture, interior design, programming and urban design, has promoted AJ Breneman, AIA, RID, to principal in the firm’s Houston office. She most recently served as a Senior Design Manager.
“AJ came to Powers Brown Architecture fresh out of architecture school and quickly proved her acumen and agility in translating her academic architectural design skills to the commercial marketplace. Her exceptional design talent, coupled with her skills in client relations and professional leadership, have enabled her to ascend from team member to Design Team Manager, and now, I’m proud to say, Principal,” noted Jeffrey Brown, FAIA, Founding Principal and CEO.
Galleria-area condo Arabella's first residents to move in next week
PBP currently is on 68 acres at 515 E. Grand Parkway S. in Baytown, and the new facility is being constructed adjacent to the company’s existing building.
Dallas-based Trammell Crow Co. is the developer for the 519,224-square-foot project, which is being built on land acquired by an affiliate of Canadian real estate investment trust Artis REIT this past spring, according to a press release from Trammell Crow. Jim Pratt and Mike Taetz with Colliers International represented PBP in the deal.
The new rail-served distribution facility is expected to be complete in summer 2019. It will feature 32-foot clear-height distribution space, 60-foot speed bays, a 65-foot clear-height roof pop-up for an indoor silo, and approximately 8,000 square feet of office space.
The facility’s form, fill and seal production line will be able to process 70 tons of resin per hour, and there will be about 9,500 track feet of rail for PBP to store and switch rail cars. Union Pacific and Burlington Northern Santa Fe serve PBP’s property.(more…)
The Katy area will soon be home to another industrial facility.
Houston-based developer Mars Properties LLC and general contractor Houston-based LaGrone Services Ltd. broke ground Aug. 20 on High Point West, according to a press release from Los Angeles-based CBRE Group Inc. (NYSE: CBRE), whose Houston office is handling the marketing and leasing. Investment costs were not disclosed.
The Class A, 89,440-square-foot industrial distribution center will be on 7.25 acres at 1039 Schlipf Road and is expected to be complete by spring 2019, per the release. It includes a 2,000-square-foot office area, 32-foot clear height, heavy power capabilities and access to controlled truck courts, per leasing materials. Houston-based Powers Brown Architecture is the architect for the project.(more…)
Dallas-based Crow Holdings Industrial announced last week that it broke ground on Victory Commerce Center, a spec industrial project in the southeast Houston area.The project is a 349,050-square-foot Class A, cross-dock, tilt-wall distribution building, according to a press release. It’s at 2851 E. Pasadena Blvd. in Deer Park, near the Port of Houston. The building is expected to be complete in the first quarter of 2019, per the release. Houston-based Powers Brown Architecture designed it, and Katy-based Rosenberger Construction is the general contractor, a spokesman said. Jon Lindenberger, Walter Menuet and Paul Dominique of Colliers International will market the property, per the release. “We are excited to kick off this project and offer a modern state-of-the-art distribution facility to a wide range of industrial users serving the expanding petrochemical and Port of Houston industries,” CHI Managing Director Cory Driskill said in the release. Driskill leads CHI’s development and investment efforts in Houston, per the release. He was hired a year ago and previously served as vice president of leasing for Indianapolis-based Duke Realty Corp. (NYSE: DRE) in Houston. Prior to that, he worked for Dallas-based Trammell Crow Co. (more…)
A Courtyard by Marriott hotel broke ground last week in Generation Park, Houston-based McCord Development Inc.’s 4,000-acre master-planned commercial park at the northeast corner of Beltway 8.
Oxford, Ohio-based Hotel Development Services is developing the hotel — the company’s first in Texas — on a 1-acre site, according to a press release. Expo Construction Group is the general contractor, and Mark Carlsen Design and Powers Brown Architecture worked on the project’s design and architecture. HDS will partner with American Hospitality Management to oversee the hotel’s day-to-day construction and management.
The five-story, 144-room hotel will include more than 2,000 square feet of meeting space, a business center, 24-hour market, large fitness center, outdoor pool, casual workspaces and a bistro offering grab-and-go food options and Starbucks Coffee, per the release. Twenty-four of the rooms will have balconies overlooking a plaza, and the hotel’s design will be integrated into the pedestrian promenade of Redemption Square, a 52-acre mixed-use district within Generation Park. (more…)
Firm Opens Canada Headquarters in TorontoHOUSTON – October 26, 2017 – Powers Brown Architecture announces the opening of the firm’s Canadian Headquarters in Toronto providing architecture, interior design and urban design services to Ontario and surrounding provinces. Building upon the firm’s successful Canadian operations, this brings the firm’s total number of offices to five including the two-year-old Atlantic Canada location, the firm’s first international office, along with its Houston, Washington, D.C. and Denver offices. (more…)
Units under 500 square feet started around $150,000, but prices went upThe model unit at the new Parc @ Midtown gives new meaning to the word small - for Houston, at least. The 468-square-foot condo shows like one of those apartment mock-ups at Ikea - the ones demonstrating how a few pieces of undersized furniture with the right accessories can turn a few hundred square feet into a functional, even inviting, home. When the model unit was being staged, the designer had to return several pieces of furniture because they were too big, the Parc's developer said during a recent tour of the property, which is just starting to welcome its first residents. (more…)
The U.S. branch of Tokyo-based chemical company Kuraray Co. Ltd. signed a huge lease at a brand-new industrial park in Houston, while a local ready-to-assemble furniture company inked a warehouse lease to expand its distribution operations.
Both leases were announced June 6.
Houston-based Kuraray America Inc. signed a long-term lease for 465,851 square feet in Avera Cos.’ new Bayport Logistics Park. Houston-based Avera announced last month it would develop the industrial complex in Pasadena, and Kuraray is the first tenant.
John Littman of Cushman & Wakefield represented Kuraray, and Jason Dillee of Cushman & Wakefield represented the landlord.
Kuraray will occupy two build-to-suit facilities — called buildings 2 and 3 — on 30.5 acres. Building 2 is rail-served and will have a 36-foot clear height, while Building 3 will have a 32-foot clear height.
When it was announced last month, Bayport Logistics Park was billed as a 143-acre industrial complex just south of Avera’s Bayport Industrial Park, a three-building, 738,610-square-foot project announced in June 2016. Now, Avera is referring to the combined 185 acres as Bayport Logistics Park. (more…)
Just under 40 miles away from Houston's core, an economic juggernaut is quietly settling into its multimillion-square-foot manufacturing hub.
Nearly 1,000 employees have moved into Daikin Industries Ltd.'s new industrial plant in Waller County. The Japanese air-conditioning giant's 4.1 million-square-foot manufacturing plant in Hockley, dubbed the Daikin Texas Technology Park, will eventually employ upward of 4,000 workers, a Daikin spokesperson said. Click through the slideshow for a look inside the facility.
The facility cost $417 million to develop. Overall, it's at roughly 25 percent operating capacity, the spokesperson said.
Around half of the plant is dedicated to manufacturing; the other half handles distribution. On the distribution side of the plant, thousands of boxes of Daikin equipment are nearly stacked wall-to-wall and inch toward the ceiling. Almost any Daikin or Goodman HVAC product – that is, mostly air-conditioning or heating units – shipped in the U.S. will pass through the new Waller County facility. (more…)
by Jeffrey Blaine Brown, FAIA[pdf-embedder url="http://powersbrown.com/wp-content/uploads/2017/05/Confirmation-Bias.pdf" title="Confirmation Bias"]
Powers Brown Architecture Expands Interior Design Offering in DenverDENVER – April 18, 2017 – Powers Brown Architecture has announced that Lauren Amber Prestenbach RID, LEED AP ID+C, EDAC, has joined the firm in the new position of Director of Interiors. In this role, Prestenbach will oversee the firm’s Interior Design strategy and marketing efforts and be responsible for new business development in the Denver Market. “We are delighted to have Lauren Amber join our growing Powers Brown Architecture family,” said Jeffrey Brown, FAIA, Principal at Powers Brown Architecture. “With Lauren Amber, we are bringing our collaborative and systems integrated approach at the core of our interior design services and practice experience to Denver. Working alongside her will only add to our knowledge base and allow us to better serve the clients in the Denver area.” Prestenbach is a Registered Interior Designer, LEED and EDAC accredited professional, and is an active member in IIDA and ASID. She has 15 years of experience in business development and interior design, specializing in corporate and healthcare interior architectural and facility optimization. “I am excited for this opportunity to join the Powers Brown Architecture team,” said Prestenbach. “The firm has made a commitment to the Interior Design practice, and I am very enthusiastic and eager to lead that effort in the Colorado office. I look forward to expanding the opportunities that Powers Brown Architecture has established.” Prior to joining Powers Brown Architecture, Prestenbach worked at ELEMENTS and served the Greater Colorado Area as business development in their Architectural Products Division specializing in DIRTT and flooring needs. She has 12 years as an Interior Designer in Houston, before moving to Denver. She is a graduate of the Art Institute of Houston. To learn more about Powers Brown Architecture, visit www.powersbrown.com.
###About Powers Brown Architecture Powers Brown Architecture is a professional services firm with offices in Houston, Washington DC, and Denver. The firm maintains a diverse architecture design, interior design, space planning and urban design practice that spans from regional to international projects. Founded in 1999 by Joe Powers, AIA and Jeffrey Brown, FAIA the firm has built a reputation for specialized design and technical superiority, producing award-winning work and gaining recognition from local, regional, and national organizations.
“I still get emails about this building, saying ‘Y’all messed up our historic district,’” says Jeffrey Brown, FAIA, design principal of Powers Brown Architecture. “It was a long, slogging project — we lost our shirts on it — but it’s a great project. I’m really proud of it. The current speed of architecture rarely facilitates a project like this, where we had to go over and over our argument. I accept if someone hates this building, but it’s deliberately purposeful in terms of its argument.”
Brown and I are standing on the southeast corner of 25th Street and the Strand, looking across the road at the Galveston Downtown Transit Terminal that his firm designed. To my eyes, there is nothing especially offensive about the building. It has ground-level retail behind an aluminum and glass storefront, the corner featuring a generous, recessed stair that leads up from the street to above the current FEMA flood level. Behind the retail is the terminal for all six lines of Galveston’s Island Transit buses. They pull in on 25th Street, park in one of three spots, unload, load, and pull out on the Strand. Above are three levels of car parking behind precast concrete cladding, whose faded red color and detailing recall some of the facades down the block. Vertical pilasters and a parapet of varying height indicate the four lots the structure occupies, evoking the scale and massing of the older buildings, while a dark stucco fin running up the face points out the entrance to the terminal waiting room. Aluminum steel screens provide ventilation for the parking garage and conceal the cars from the street. The screens are articulated in a way to suggest the punch window fenestration of the connecting urban street wall. (more…)
SCHERTZ, TEXAS — Conor Commercial Real Estate has delivered Doerr Lane Industrial Park, a speculative cross-dock industrial building in Schertz, a northeast suburb of San Antonio. Situated within Tri County Business Park, the 213,864-square-foot property features 32-foot clear heights, 54 dock-high loading doors, two truck courts and on-site parking for 250 vehicles and 31 trailers. The design team includes Cadence McShane Construction Co. and Powers Brown Architecture. The building is available for immediate occupancy. Terry Warth, Rob Burlingame and Joshua Aguilar of CBRE are marketing the property.
A colorful, spiral staircase, cement-inspired wall fixtures and a tech-inspired aesthetic set apart Cemex's new U.S. headquarters.
Mexico-based Cemex SAB de CV, a building materials provider, will relocate its U.S. headquarters to 80,000 square feet in 10100 Katy Freeway in west Houstonstarting Jan. 17. The MetroNational-developed building topped out in June and is 240,000 square feet. Click through the slideshow to tour Cemex's space.
Cemex will vacate 42,000 square feet at Memorial Hermann Tower at 929 Gessner Rd., Cresa's Sue Rogers said. Rogers, alongside Steven Heal, represented Cresa in its 10100 Katy Freeway lease. MetroNational represented itself.
Cemex's new U.S. headquarters will serve as a testament to the company's products – there are cement fixtures inset into the walls and portions of Cemex's furniture that is made from cement. The office's main stairwell, a colorful and winding bridge between the second and third floors, has handlebars made of one of Cemex's rebar products. Most of the office's flooring is smooth, exposed cement. (more…)
A new industrial park in Missouri City has landed its first tenant.
Tire Universe leased 42,430 square feet — including 1,400 square feet for office space — at Gateway Southwest Industrial Park. The tire distributor, which has three existing locations in northwest Houston, Dallas and California, will occupy about one-third of the park’s first building.
Joint venture partners San Antonio-based USAA Real Estate Co. and Illinois-based Conor Commercial Real Estate, a member of The McShane Cos., announced plans in December 2014 to develop Gateway Southwest on 36 acres at the interchange of Beltway 8 and U.S. 90 Alternate. (more…)
The Work Lodge, a co-working space in Vintage Park well-known for its slide in the lobby, is opening a second location, this time in The Woodlands.
The new space will be called The Work Lodge at Havenwood and is expected to open in early 2017, said CEO and founder Mike Thakur. It will be located in the new Havenwood development from J. Beard Real Estate Co., which is wrapping up construction.
While there won't be any slide in this location, Thakur expects to still jazz it up.
"We're going to put in some fun stuff," Thakur told the HBJ. "I don't know if I'm ready to shout about it yet, but it will have that playful feel in the co-working space." (more…)
Excerpt from Architizer: Click here for full article.
by Maya Sorabjee
Dallas-based real estate investment group Copeland Commercial LLC has landed $43.5 million in funds — $33.5 million in acquisition and development financing and another $10 million in equity — to build a new large speculative logistics hub.
The 900,043-square-foot industrial facility, called I-20 Commerce Center, is expected to get underway at 3535 N. Houston School Road in Lancaster in the near future. The facility sits in close proximity to three major interstates, as well as the Union Pacific Intermodal terminal and the FedEx ground facilities.
The development is one of a number of speculative projects throughout North Texas, with capital still becoming available for such logistics hubs.
A JLL team secured the $33.5 million in acquisition and development financing from American National Insurance Co. and raised $10 million in equity from ANICO Eagle LLC, who will be the joint venture partner in the spec project.
JLL's Kurt Griffin and Nathan Orbin led the team on the acquisition of the land and are overseeing leasing of the project. Adam Mengacci of JLL led the team's financing efforts.
Powers Brown Architecture is the project architect for I-20 Commerce Center. (more…)
Bursting out of an office that is now in the wrecking ball’s path, a concessionaire company is building itself a new headquarters.
Service Systems Associates Inc. is planning a new 45,000-square-foot office building in Northfield.
Building co-developer John Comunale said SSA grew out of its office at the National Western Complex, a space it will need to vacant anyway to make way for the planned stock show redevelopment.
“Their current space is about 11,000 square feet, and they’re on top of each other,” Comunale said. “They’re sharing offices; they’re sharing cubicles.”
One Central Park, as the new building will be called, will take shape at 4624 N. Central Park Blvd., just north of the Drury Inn and Suites off of Interstate 70. Right now the city owns the real estate, but Comunale said they will buy the property in a deal closing next month. (more…)
A bundle of 10 speculative buildings spanning four suburban counties and totaling 650,000 square feet are now under construction by St. John Properties.
The projects will produce a total of 400,000 square feet of new Class A office in Anne Arundel, Howard, Carroll and Baltimore counties. In Anne Arundel, for example, four buildings comprised of more than 200,000 square feet are under development.
The Anne Arundel projects include a 126,500-square-foot building at I-97 Business Park.
The new construction "is spurred by our continued confidence in the Maryland economy," Rick Williamson, St. John's senior vice president of leasing, said in a statement.
Williamson said the company's leasing activity this year is showing strength in health care and technology. (more…)
When Novel Creative Development LLC announced plans for Houston’s first major micro-unit condominium in fall 2015, the new developer expected to sell all 550 units before breaking ground in June 2016.
Novel Creative Development was confident it would find a market among young, single working professionals interested in buying affordable homes that are less than 500 square feet. The Houston developer, founded by a group of doctors and real estate investors in New York, unveiled plans to build Ivy Lofts, a 24-story, 550-unit condo project at 2604 Leeland Avenue in East Downtown.
Ivy Lofts, designed by Houston-based Powers Brown Architecture, offered micro-unit condos ranging in size from 304 square feet to 1,001 square feet. Prices started from $119,000 for a 300-square-foot loft to $375,000 for condos 700-square-feet and larger. These units would feature space-saving amenities, such as transformable furniture like Murphy beds and a coffee table that turns into a desk.
However, four months after opening an on-site sales center, Ivy Lofts had secured contracts from only 68 prospective buyers, said Wen Pin Tsai, Novel Creative Development’s vice president of business development. (more…)
A Midtown building built in 1955 will be restored to have office, ground-floor retail, and rooftop event space right as the submarket is undergoing a rebirth of its own.
The Greensheet building at 2601 Main St. was sold to Houston's PLC Capital Corp. for an undisclosed price. PLC Capital plans to renovate the building's facade, entry lobby and common areas.
Renovations should kick off in mid-July and wrap up in September. The building has 10,000 square feet of ground-level retail space that Brent Friedman, president of PLC Capital, hopes to split between a restaurant user and another retail user. Greensheet Inc. occupies the second and third floors of the building, leaving the 12,000-square-foot fourth floor open for leasing. The building's fifth floor, a 2,000-square-foot air-conditioned penthouse space with rooftop access, could be used for an event-venue user. PLC Capital has already been approached by two event-venue users, Friedman said, even though he hasn't started marketing the building yet.
"We're working (with) mid-century modern architecture, so we'll embrace that," Friedman said of the building. "We want to replace existing entryway trim and glass with a cooler, period-specific entrance."
Friedman said he wasn't immediately wooed by Midtown as an office market, but was struck by its ability to attract and retain Millennials. Among other things, he said a recent visit to Tampa's Hyde Park Village, a revitalized historic neighborhood that's attracted both Millennials and office users, made him realize that Houston is lacking in that area. (more…)
Houston-based MetroNational's first office building north of Interstate 10 is moving toward completion.
The building at 10100 Katy Freeway topped out on June 14, a MetroNational representative said. The 240,000-square-foot office building should deliver in early 2017, the spokesperson said. The core and shell will be complete in fall 2016. Houston-based Anslow Bryant Construction is building the core and shell.
The six-story building is on an 18-acre tract at the northwest corner of Gessner Road and Interstate 10 and is pre-certified as LEED Silver.
The building's sole tenant, Cemex (NYSE: CX), a Mexico-based building materials company, will occupy 80,000 square feet on the second and third floors. Cemex has had an office in Memorial City since 2005. Its current U.S. headquarters are at 929 Gessner Road, suite 1900. Sue Rogers and Steven Heal of Cresa represented Cemex in its lease, and MetroNational represented itself in the deal.
Houston-based Powers Brown Architecture designed the building.
Cara Smith Reporter Houston Business Journal
Exec: This submarket gives my Millennial workers everything they need
Houston-based Powers Brown Architecture LLC may be the sole tenant inside Midtown's Central Square office development, but being the first one in an office building is a familiar feeling for Jeffrey Brown, founding partner and design principal at the firm.
Powers Brown, which reported $18.61 million in 2015 billings, spent the last 17 years at 1314 Texas Avenue in the Central Business District. Powers Brown was one of the building's first tenants, and Brown said the area's amenities were bleak at best.
"It was a food desert," Brown said. "When we first moved down there in 1999, it was nothing – no clubs, no bars, certainly nothing within walking distance."
Houston's downtown core is now bustling today. The 1314 Texas Avenue building is home to Irma's Southwest Grill, a household name among Houston foodies and a tenant that Brown remembers as a newcomer. A number of now-esteemed downtown restaurants are scattered around 1314 Texas Avenue, including Treebeards, Vic & Anthony's Steakhouse and more. Powers Brown didn't want to move out of the building, Brown said, but the building was sold and pegged to become a residential tower. He wanted to keep his company in an urban environment, too – but finding a building downtown that would take a smaller lease in 2016 was a tall order.
"We’re only a 12,000- or 15,000-square-foot lease space," Brown said. "Nobody downtown wants that." (more…)
Houston-based Powers Brown Architecture LLC is the first office tenant in a 280,000-square-foot building undergoing a massive renovation at 2100 Travis St. in Midtown.
Powers Brown signed an 11,637-square-foot lease at Central Square, which occupies the entire city block bordered by Travis, Milam, Gray and Webster streets.
Powers Brown, the 10th-largest architectural firm in Houston, relocated from 1314 Texas Ave. Powers Brown said in a statement it will pursue a wellness certification and LEED certification, which will be made possible by extremely competitive rent rates. (more…)
Demand for office space in suburban Maryland and Northern Virginia is still struggling to rebound to pre-recession levels, but at least one D.C.-area developer is rolling the dice that the tenants will come if you build it first.
Columbia-based Corporate Office Properties Trust (NYSE: OFC) plans to break ground speculatively on a 75,000-square-foot office building at the University of Maryland's 126-acre research park. The park, called M Square, is already home the National Oceanic and Atmospheric Administration, the Food and Drug Administration's Center for Food Safety and Applied Nutrition, and Raytheon.
The planned three-story building at 5801 Research Park Drive was designed by Powers Brown Architecture and is slated to include 25,000-square-foot floorplates and an outdoor plaza.
The vacancy rate in suburban Maryland now hovers at about 20 percent, according first-quarter stats from JLL, with Prince George's County coming in higher at about 29 percent. At the same time, the university's presence has been a positive influence on the office market, generating demand from university spinoffs like FlexEl LLC, which committed earlier this year to leasing 10,000 square feet in College Park for a new research, development and manufacturing facility. (more…)
Ivy Lofts to feature small living spaces, customizable amenities in downtownA development company is planning to construct Houston's first "micro-unit" condominium in east downtown and is marketing its small living spaces and customizable amenities as an affordable option for young single adults wanting to live and work in the area. As the millennial generation enters the workforce, land developers are attempting to determine where the demographic of adults between the ages of 20 and 37 want to work, live and play. Novel Creative Development LLC is betting that its development, The Ivy Lofts, will appeal to that generation. (more…)
Office amenity space in Lake Jackson just got a lot swankier.
That's where Michigan-based The Dow Chemical Co.(NYSE: DOW) has a five-building research and development complex, dubbed the Texas Innovation Center, underway. One of the buildings called the Diamond Center wrapped up a few weeks ago, said Mike Wyatt of Core Real Estate LLC, the developer of the project. Click through the slideshow to take a tour of the Diamond Center.(more…)
The Greater Houston Partnership received Business Facilities' gold award in its 2015 Economic Development Deal of the Year competition for a major campus under construction.
Japan-based Daikin Industries Ltd.' s new $417 million campus in northwest Houston, dubbed the the Daikin-Goodman Comfortplex Campus, claimed the highest-ranking award in the competition. Business Facilities estimates that the new campus will generate $3.9 billion in annual economic impact for the Houston region, creating 4,600 direct jobs and more than 11,000 indirect or induced jobs.
The multistate site selection began in 2013, and Houston was chosen because of Daikin’s $3.7 billion acquisition of Houston’s Goodman Global. The northwest Houston site was chosen for its visibility and the accessible outbound distribution of products made at the plant. (more…)
Rendering of Daikin’s 4 Million SF Houston facility, which is the largest tilt-wall project in the world(more…)
Novel Creative Development LLC has revealed new details for Ivy Lofts, the first “micro-unit” condominium project in Houston. The Houston developer plans to build the 24-story, 550-unit project on a 1.4-acre city block, bounded by Leeland Avenue, Nagle Street, Pease Avenue and Live Oak Street in East Downtown. The land, which formerly housed a Vietnamese grocery store, was purchased in November 2014 for a little less than $3 million.
Novel Creative Development — founded by a group of doctors, real estate investors and midrise condo developers in New York — was inspired by My Micro NY, the first affordable micro-unit apartment building developed by Michael Bloomberg in Manhattan. They hope to bring the micro-unit concept — units that are less than 500 square feet and geared toward young, single working professionals— to Houston's up-and-coming EaDo neighborhood.
“It’s a new concept for Houston,” said Wen Pin Tsai, Novel Creative Development's vice president of business development. “We feel there’s potential for this in Houston.”
Stream Realty has broken ground on the second phase of Bay Area Business Park, bringing more spec industrial space to what's become a very tight submarket.
The first phase of Bay Area Business Park includes three buildings, delivered in 2009, that total 1.2 million square feet. That phase is 100 percent leased to tenants including Honeywell International (NYSE: HON) and Calpine Corp. (NYSE: CPN)
St. John Properties Inc. is taking over a 100,000-square-foot office project in Howard County that will be a central component of the Annapolis Junction Town Center development.
Columbia-based Corporate Office Properties Trust originally planned to develop the office portion of the $180 million, mixed-use Annapolis Junction development, led by master developer Somerset Construction Co. But when COPT signed on, Somerset hadn't determined whether the office project would be built on a speculative basis, said Neil Greenberg, chief operating officer of Somerset. (more…)
COURTESY | UNITED PROPERTIES United Properties is planning 850,000 square feet of new industrial development at Enterprise Business Center.United Properties has leased 500,000 square feet of industrial space to Beverage Distributors Co. LLC in what it calls one of Denver's largest-ever industrial leases, and has purchased 45 acres of land in Stapleton to build even more industrial product. Beverage Distributors has pre-leased 70 percent of one of the new buildings Minneapolis-based United Properties is planning at Interstate 70 and Havana Street. (more…)
COURTESY | NEWMARK GRUBB KNIGHT FRANK The first new phase of Inova Dry Creek will break ground in September.The first new phase of Inova Dry Creek, a Centennial mixed-use development formerly called the Dry Creek Corporate Center, is set to break ground in September near the soon-to-open Topgolf entertainment complex. Additions to Inova Dry Creek were announced under its former name in November. Four buildings totaling about 300,000 square feet were built on the Dry Creek Corporate Center campus years ago, but 58 acres of land sat untouched there until it was acquired by United Properties last October. Current plans by United Properties call for 695,000 new square feet of industrial, office and multi family space in a total of six new buildings on the campus, to be built in phases over the coming years. The first new phase of the project will be a five-story, 212,000-square-foot speculative office building. The building will be located at 7250 S. Havana St. near Topgolf International, which will open in August. The Class A office building will include 14.5-foot ceilings, nine-foot window heights, flexible floor plates and will seek LEED Silver certification. The new building will be only the second speculative building to break ground in the southeast suburban market in the last few years, with One Belleview Station being the first. (more…)
Work is set to begin Sept. 15 and take about six months to complete, according to a construction permit. The site has an appraised value of $5.3 million.
Paul TakahashiReporter-Houston Business JournalA proposed condominium tower in downtown Houston will try to entice apartment renters into owning a condominium with aggressive pricing and a glamorous Hollywood theme. Houston real estate developer Randall Davis plans to break ground this summer on the Marlowe, a 20-story, 100-unit condominium tower on about 0.3 acres at 1311 Polk Street, across the street from the House of Blues and a couple of blocks from the Toyota Center and Discovery Green park. The gray and white glass building will resemble a pinstripe suit, and the floor plans are named after great movie legends like Brando, Newman and Redford. The one- and two-bedroom units, which average 1,200 square feet, are priced between $400,000 and $1.4 million. Well-heeled Houstonians can save money by owning a condominium unit at Marlowe rather than renting an apartment downtown, Davis said. Marketing materials for Marlowe state that someone making at least $150,000 a year with good credit theoretically can have a lower monthly mortgage than the average downtown apartment rent of $2,800 per month. “Why would you want to rent and throw your money into the street?” Davis said. “We want to get people who rent into homeownership. That’s the premise for Marlowe.” Davis also hopes his in-unit and common-area amenities will entice renters into homeownership. The units feature 10-foot ceilings with high-end appliances, gas ranges, imported cabinets and choices of hardwood floor, stones and porcelain finishes. The Marlowe also has seven penthouse units with larger terraces, an enclosed two-car private garage, 12-foot ceilings, solar shades, a wine cooler, a Bertazzoni kitchen appliance package and an air jet tub. (more…)
Paul Takahashi Reporter-Houston Business JournalA proposed luxury condominium tower in the Galleria area will feature six penthouse units with private swimming pools on their terraces. Houston real estate developer Randall Davis plans to break ground in October on the Arábella, a 33- or 34-story luxury condominium tower on the site of the former Westcreek apartment complex, within walking distance to the River Oaks District, a ultra high-end retail development from San Diego-based OliverMcMillan. Arábella will feature 105 to 109 condominium units, ranging in size from 1,400 square feet to 5,800 square feet and in price from $800,000 to $4 million. The units — which will have floor plans named after New York City neighborhoods like SoHo and Tribeca — will feature European cabinets, high-end Miele appliances and a range of customizable options for wood floors, stone finishes and carpeting. (more…)
A new shopping center under construction in a hot Galleria location counts a big-box store as well as an extended-stay hotel among its tenants.
A site plan for the Shoppes at Uptown Crossing at the southeast corner of Westpark and South Rice Avenue includes a Wal-Mart Supercenter, a TownePlace Suites Hotel, El Pollo Loco, a Chick-Fil-A, a Jack in the Box, aMattress Firm, dentist's offices, an AT&T store and a Starbucks. The size of the Wal-Mart was not immediately available.
SIERRA PINES II, A SIX-STORY CLASS A TILT-UP OFFICE BUILDING IS THE FIRST OF ITS KIND IN TEXAS. THE PROJECT IS SITUATED ON A SNUG 4-ACRE SITE LOCATED IN THE WOODLANDS, A 28,000-ACRE COMMUNITY IN SUBURBAN HOUSTON, TEXAS.By: Mitch Bloomquist | Tilt-Up Concrete Association
CLASS A TILT?Contrary to a once popular belief, class A tilt is not an oxymoron. Architects, engineers, contractors and developers aware of the architectural potential of tilt-up concrete construction have demonstrated time after time the superb quality that can be expected of the construction method. According to CoStar Group, the world leader for commercial real estate intelligence, “a class A building is an extremely desirable investment-grade property with the highest quality construction and workmanship, materials and systems, significant architectural features, the highest quality/expensive finish and trim, abundant amenities, first rate maintenance and management; usually occupied by prestigious tenants with above average rental rates and in an excellent location with exceptional accessibility.” While these criteria offer a general picture of a class A facility, the label is somewhat subjective and most definitely relative to the market it is in. An excellent location in Houston, for example, may not fit the same criteria as an excellent location in New York City. Essential amenities in one market may not be as important in another. In Houston, every class A facility offers structured parking, for example. As Paul Coonrod, Managing Director of Stream Realty’s Houston office team and Partner in the firm’s Houston office put it, “Houston gets hot!” The intricacies of each market affect these ratings. “Even every submarket is different,” said Coonrod. “Houston, for instance, is divided into nine major submarkets.” (more…)
Houston-based Freeway Properties has broken ground on the first mid-rise office building to be built west of the Grand Parkway in Katy.
The six-story, 151,000-square-foot building, dubbed Katy Ranch Offices Phase, will be located immediately off the eastbound exit ramp in the 130-acre mixed-use Katy Ranch Crossing complex, and is scheduled for completion in the first quarter of 2015. The Class A-building will feature 24,800-square-foot floor plates with 45-foot bay depths for flexible space planning.(more…)
An Illinois-based manager and developer of industrial warehouse and distribution facilities has entered the Houston market with its first project.
International Airport Centers broke ground earlier this month on a 225,360-square-foot warehouse property located at 300 West Airtex Blvd. in North Houston near Interstate 45. It is scheduled for completion later this summer. Ed Frantz and Faron Wiley of CBRE’s Houston office have been hired to lease the project.
“Institutional capital has favored Houston due to the market’s sustained growth and excellent opportunities for business development,” Tom Lynch of CBRE said in a release. “This project is an indication of Houston’s continued demand for Class A warehouse and distribution facilities, particularly those with high clear heights.” (more…)
Transwestern said Thursday it will begin construction on a 660,000-square-foot Class A office project within the Energy Corridor.
The development, Westgate, sits on a 20.8-acre tract near Interstate 10 and Barker Cypress Road and will consist of three buildings that are 67 percent preleased. Transwestern did not disclose the tenants.
The Houston-based real estate company acquired the land for the development on Sept. 13 from Hearst Corp. for an undisclosed amount.