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There's news at the newest building in downtown Houston. Houston Pavilions, a new mixed-use project in downtown Houston has signed a major office tenant -- NRG Texas/Reliant Energy, which leased 240,000 sf at Pavilions Tower, 1201 Fannin. In addition to the office space, the project also has 360,000-sf of retail space and a 1,600-car garage. The Pavlions project spans four city block bounded by Dallas Street, Polk, Caroline and Main. Separately, two major office towers are under construction in downtown Houston by Hines and Trammell Crow.

The Bivins Blog

July 3, 2009 - Black & Veatch completes the $60 million purchase of its 600,000-sf world headquarters in Overland Park, Kan. The next step is a 250,000-sf expansion. The National Gazette has all the details along with two retail sales in Florida…. …..Radisson Hotels & Resorts adds its third property in the Caribbean, raising its flag on the landmark 740-key Our Lucaya Resort. Additional information is in the International Dispatch along with ProLogis' one-year lease of 134,000 sf in Germany…. ….BOMA elects a new chairman and chief officer, tapping Albuquerque veteran Jim Peck for the one-year term. The Association News page spotlights the election….. …..The Multifamily Magazine features new sales in Ohio and California…. ….In Dallas/Fort Worth Leasing, Tuesday Morning finds a relocation spot, zeroing in on a more visible location, more room and a strong co-tenancy mix.

July 2, 2009 - Bucking the uncertainty in the economy, Duke Realty has locked in 506,035 sf for the long term, winning three industrial leases for properties in Carrollton and Coppell. Dallas/Fort Worth Leasing has the scoop along with a team change for a 150,019-sf class A office building in Irving…. …..Anheuser-Busch InBev agrees to sell four manufacturing plants in the U.S. for $577 million to Ball Corp. Details are in the National Gazette, which also features BioMed Realty Trust's $350 million financing for the 700,000-sf Center for Life Science in Boston. In other national news, a CBRE report shows retail rents falling globally, with New York dipping 10 percent yet maintaining its hold as the most expensive market in the world with $1,800 per sf rate per year. Also, Bridgepoint Educational adds more class A office space to its 292,034-sf footprint in San Diego…. …..The People Blog has an EVP promotion and two hires…. …..Multifamily market news includes a $14 million sale of 138 townhouses in Lodi, Calif., while Dallas-based Humphreys & Partners Architects collects eight leading industry awards for its trophy wall.

July 1, 2009 - In a Hail Mary play, Bandera Ventures and Dallas Cowboys Merchandising Group Ltd. break ground on a 400,000-sf project at DFW International Airport to rebound from a sudden delay in the spring. The Dallas/Fort Worth page has all the details…. …..Dallas/Fort Worth Leasing has the latest deals in the metro…. …..ProLogis grosses $840 million in second-quarter sales and fund contributions in an ongoing right-sizing of its financial burden. The deal round-up leads the National Gazette, which also features a quartet of sales by Marcus & Millichap and Baskin-Robbins' plan for Central Texas…. …..Post Investment Group grabs its second deed in a week, buying a 365-unit complex in a Hendricks & Partners-bundled transaction. Also in the Multifamily Magazine, CAS Partners and Riverstone Residential add beef up their specialty lines to help property managers stay ahead of the competition.

June 30, 2009 - Skanska and Deka Immobilien finalize the $164.6 million sale of the brand-new Deloitte House, which has been under contract since September 2008 in a Colliers International-led transaction. The sale is the largest this year in Central and Eastern Europe. Additional details are in the International Dispatch…. ….Austin-based Forestar Group and Holland M. Ware sign a definitive agreement for 20,000 acres of timberland in Georgia. The $39.5 million sale leads today's National Gazette…. …..People Blog has the latest additions for Behringer Harvard, Grubb & Ellis and Jones Lang LaSalle.

June 29, 2009 - The National Gazette features General Electric Co.'s details for a $100 million, 100,000-sf plan in the Detroit metro and a 150,000-sf global headquarters lease in the Philadelphia area. Other national news includes Cancer Treatment Centers' plan to build a 200,000-sf hospital in Georgia as its inroad in the Southeast…. ….On the Dallas/Fort Worth page, a new report shows local buyers regain their status on industrial brokers' preferred lists. A Marcus & Millichap senior associate talks about what's being bought and where…. ….In the Multifamily Magazine, Post Investment Group buys its first class A property for the portfolio, getting a Dallas deed in a repackaging of a strategy aimed at acquiring $200 million of assets in the next 18 months.... ....ProLogis adds one more tenant overseas, Acer, a leading manufacturer of computer systems. The new deal fills 215,000 sf in ProLogis Park Wroclaw III. Details are in the International Dispatch.

June 28, 2009 - The Downtown Redevelopment Authority will provide $20 million in funding for below-market rate housing in downtown Houston, according to Nancy Sarnoff's realty column in the Sunday Houston Chronicle. The deadline to submit proposals in July 29th. Sarnoff also has a great article about the 100 percent leased Jewelry Building in Houston's Sharptown Mall. The 10-story tower has 100 jewel and diamond tenants with a tenant waiting list. .... ... Houston apartment developer Martin Fein Interests has acquired two apartment projects in Houston from JP Morgan Investment Management, according to an article by Jennifer Dawson in the Houston Business Journal. Fein developed the two projects, The Belmont and The Carlton, in the 1990s.... ... .. The upscale apartment market in downtown Austin is getting huge chunks of new supply, according to a story by Shonda Novak of the Austin American-Statesman. The Ashton, a 36-story, $110 million rental tower, opens next month with average asking rents of $2,500 a month.

June 27, 2009 - FC Holdings, Inc., parent company of First Community Bank, N.A., has broken on a new 24,000-sf headquarters building in southeast Houston. The LEED Gold Certified building will be located at 12400 Gulf Freeway, on the Northeast corner of I-45 and the Beltway 8 intersection. With assets of $ 834 million, First Community has 39 locations in 23 cities located in 8 regions across Texas including Dallas, San Antonio, Waco, The Woodlands, Fort Bend, East Texas, the Houston Bay Area and Central Texas. Nigel Harrison is CEO. ... ...... Three Houston apartment complexes are going on the auction block with bids expected to drift as low as $4,000 per unit. The 277-unit Thicket, The Meridian, a 152-unit ptoject, and 148-unit Antoine Village will be sold at auction June 30th at the Hilton Houston North on Greenspoint Drive, by Tranzon LLC. For more information, please go to our Multi-Family Magazine page. Editors Note: Be sure to check our Multi-Family Magazine often for the best concentrated news coverage of apartment industry news.

June 26, 2009 - In a three-way deal, Duke nails a 100,000-sf office lease for MedAssets' regional headquarters by terminating a full-building lease inherited by Oracle in a buyout nearly four years ago. Dallas/Fort Worth Leasing has the inside details…. ….Hillwood and Trademark toast the traction of Alliance Town Center on the Dallas/Fort Worth page…. ….Houston-based Hines hires HFF to sell the 240,900-sf One Northwestern Plaza in Southfield, Mich. Also in the National Gazette, Skanska wins a $220 million contract for a 630,000-sf hospital expansion in Lake Nona medical city in Orlando, Fla…. ….Hongkong and Shanghai Hotels Ltd.'s financial arm secures $15.8 billion in a four-year loan with seven international banks. The details are in today's International Gazette…. …..The latest personnel shifts lead the People Blog.

June 25, 2009 - Cobalt Industrial REIT II buys 1.7 million sf in Atlanta's Shawnee Ridge park. Also on the Dallas/Fort Worth page, another North Texas company purchases an 8,600-sf building for its headquarters…. …..In Dallas/Fort Worth Leasing activity, Grubb & Ellis brokers finalize 14 leases with terms from seven months to 10 years…. …..In other leasing news, KTR Capital Partners fills a 195,071-sf office/warehouse in O'Hare Business Center in Franklin Park while Net Entertainment finds a new headquarters location in Stockholm. Details are in the National Gazette and International Dispatch, respectively…. ….Other national news includes Sperry Van Ness/Guardian's launch of MarketMaker, a distressed real estate platform to support auctions. The first sell-off is set for July 30. In a traditional sale, CBRE brokers close a $45.3 million deal for Old Ranch Towne Centre, a 144,726-sf, fully leased prize in Seal Beach, Calif…. …..The Multifamily Magazine's top story is Hendricks & Partners' $17.5 million sale of the 232-unit Sky View Ranch in Gilbert, Ariz.

June 24, 2009 - ATC Logistics & Electronics re-ups two leases totaling 556,039 sf, doing one early to sweeten the terms with the doubling up at Alliance Global Logistics Hub. Additional details are on the Dallas/Fort Worth Leasing page. Also, Houston-based XL Auto Parts leases an office/warehouse as its operations base for a North Texas expansion…. …. In Philadelphia, the 142,166-sf Columbus Crossing collateralizes a $17 million loan for Cedar Shopping Centers. The National Gazette also has the countdown for the opening of the first EPIC Hollister store in New York…. ….ProLogis finalizes another overseas lease for a long-time tenant. The Munich lease leads the International Dispatch…. ….In the Multifamily Magazine, a 36-unit complex fronting the Gulf of Mexico in Galveston sells to a Texas investor…. ….And, Grubb & Ellis adds more EVPs in SoCal as part of today's People Blog.

June 23, 2009 - Dallas-based Encore Enterprises Inc. has amassed $150 million of equity in the past six months for its first opportunity fund and gets ready to raise another $150 million. Its managing director talks about Encore's acquisition sweet spot and strategy on the Dallas/Fort Worth page…. …..In the National Gazette, BioMed Realty Trust gets an $18 million loan for a 193,000-sf HQ and lab facility leased through 2023 to Illumina. Also, a group of hoteliers buy a medical office building to develop a high-end boutique hotel in Beverly Hills…. ….Headlining the Multifamily Magazine is the launch of Jefferson Apartment Group by two former JPI East principals and Akridge. In other news, the 240-unit Alexan Paradise Lane in Peoria, Ariz., sells for $21.5 million and a six-unit building in Pasadena, Calif., also gets a new owner…. ….Residential Topics features Keystone Pacific Property Management's takeover of 923 units in Colinas de Capistrano, a neighborhood of six single-family and condos in California…. ….The People Blog has high-profile promotion of a new industrial leader for CBRE. In California offices, Grubb & Ellis promotes a veteran to executive vice president and Lee & Associates hires two brokers as senior vice presidents.

June 22, 2009 - Los Angeles-based Creative Kingdom unveils a 175-acre plan for a mixed-use development, anchored by a movie studio, in Thailand. The International Dispatch has all the details…. …..CBRE's researchers say New York's Midtown office market is nearing the bottom due to rent re-pricing that's slashed 28 percent off rates in recent months. Details are in the National Gazette, which also spotlights Locartis' U.S. push into 15 major metros, including Dallas and Houston. Also, Jack in the Box has a deal in hand for 55 of its 61 Quick Stuff sites.…. …..In residential news, the National Low Income Housing Coalition and National Housing Law Project launch an online toolkit for renters facing foreclosure-related evictions…. …..SimplexGrinnell extends and expands its lease in the Hillwood-owned Cardinal Park, inking a direct deal for 69,150 sf after years of subleasing part of the building from its parent. The market's new deal leads Dallas/Fort Worth Leasing….. …..Central and North Texas foreclosures are continuing to climb, with seven of eight counties pushing above their record levels. The Dallas/Fort Worth page features the new data from Foreclosure Listing Service.

June 19, 2009 - ProLogis finalizes $347 million in three loans, getting breathing room from maturing debt well into 2010. The fresh capital is secured by 64 properties in the U.S. Additional details are in the National Gazette, which also spotlights the progress of a $147 million movie studio project on the outskirts of Boston…. ….NTS Development lands $25 million in two loans for multifamily properties in Orlando. Also in the Multifamily Magazine is a 235-unit sale in Wisconsin…. ….LNR Property Corp. is going vertical on the 300-acre Presidio Junction in north Fort Worth. Leasing begins on the first phase of 1,300 apartments in the summer while retail preleasing is going full steam, with Lowe's in place and interest circling for 500,000 sf. In-depth details are on the Dallas/Fort Worth page…. ….In Dallas/Fort Worth Leasing, a full-building tenant inks a 45,000-sf lease in a direct deal packaged by the Richardson brothers of Henry S. Miller Brokerage.... ….The International Dispatch has ProLogis' latest deal in Japan, a 114,000-sf industrial pact for an under-construction, four-story structure with 460,000 sf of class A industrial space.

June 18, 2009 - Austin-based Forward Capital credits the multifamily sector with the recent uptick in housing starts although it's patently clear that residential construction will be sluggish for many quarters to come. The Multifamily Magazine has additional insight….. …..In Houston, the 75,660-sf Riceland Pavilion I hits the market. The sales hook is set with an 8.5 percent cap rate and assumable financing…. …..Grubb & Ellis and Meridian Cos. form a JV to invest in energy and infrastructure opportunities for their pools of investors. The National Gazette has the details, along with an AFIRE survey indicating foreign investors are poised for significant investments in U.S. real estate before the year ends. Also on the national front, Real Estate Fiduciary Services forms an alliance for the distressed market and Kennedy Wilson Capital Markets gets a new top executive for a brand-new New York office. National retail news features Friedman Fleischer & Lowe's plan to buy the 1,600-unit Church's Chicken chain and Nordstrom Rack's lease at Atlanta's Buckhead Station…. ….The new president of the Retail Brokers Network leads today's People Blog.

June 17, 2009 - MGM Mirage and New Giza for Real Estate Development will develop 1,500 acres near the base of the famous pyramids on the outskirts of Cairo. A 555-room MGM Grand will anchor the community of 2,500 villas and townhouses, three resort hotels, shopping malls, lakes and parks. Details are in the International Dispatch…. …..In the National Gazette, the retooling is done on Lowe Enterprises' 270,000-sf Clearview Business Park, bought in 2007 for $86 million and now ready to be reintroduced to the market as a class A office campus. Coldwell Banker is opening its 26th office in Arizona, relying on "out-of-the-box" thinking to gain the new foothold…. ….The Multifamily Magazine details the exchange of the 272-unit Williamstown in southwest Houston in a Hendricks & Partners-brokered deal…. …..A Dallas-based company buys a 69,552-sf building for its headquarters, getting five acres at a prime corner and ample room to expand. Also, James A. Baker III, the nation's 61st secretary of state, and Texas Comptroller Susan Combs are the featured speakers at tomorrow's Dallas Regional Chamber luncheon in the Hyatt Regency in downtown Dallas.... ….In Dallas/Fort Worth Leasing, two-time finalists of the U.S. Latin Ballroom competitions will open Studio 22 in Pepper Square Shopping Center…. …..Leading the People Blog is Riverstone Residential's selection of a new division president and COO of its West region.

June 16, 2009 - Jones Lang LaSalle wins a five-year contract from Iron Mountain for 65 million sf of office and industrial space in 35 countries. The National Gazette has details along with news about Kennedy Wilson's purchase of 149 condos in the 22-story Mercury in L.A.'s Wilshire-Western submarket.... ....In Residential Topics' news, a former top exec at Freddie Mac launches ADS Solutions with backing from Asset Property Disposition Inc. and Waterfall Asset Management. The advisory and investment platform targets the nation's hardest hit communities for foreclosures and the recession.…. …..The Weitzman Group's newest assignment is 65,000 sf of bi-level retail space in the 27-story Dobie Center in Austin….. ….Dallas/Fort Worth Leasing has the latest deals from Transwestern and CBRE while Leasing Briefs has Grubb & Ellis' new deals…. …..More personnel shifts lead the People Blog page…. ….In Dallas/Fort Worth news, Aegon USA changes the leasing team at the 296,179-sf TriStone, a class B office campus with a class A location along LBJ Freeway. The keys change July 1, opening the door to a new strategy to fill the 25 percent-leased trio of office buildings…. ....Hendricks & Partners closes on the 472-unit sale of the Villagio in Tempe for $20.25 million to Los Angeles-based Stonecraft Homes Inc. Details are in the Multifamily Magazine.

June 15, 2009 - FelCor Lodging Trust gets a $200 million capital infusion in a new secured term loan that allows the Texas-based company to retire $128 million of near-term outstanding obligations on a now-terminated credit line. JPMorgan Securities Inc. arranged the non-recourse loan, which is secured by nine hotels with 2,331 rooms. The loan's interest rate is 350 basis points above LIBOR and matures in 2013. JPMorgan Chase Bank was the administrative agent and funded part of the debt…. ….Towers Perrin has found in a new commercial insurance pricing and profitability trends survey that the commercial property and casualty insurance costs posted its smallest decline in four years. The 1 percent drop is "evidence that the soft market is reaching its end," the New York-based firm concluded. However, liability prices rose slightly in first quarter 2009 as did costs for premiums in excess of $50,000. Smaller accounts stayed the course of steady, but smaller declines…. …..Maguire Properties Inc. has completed the last leg of the 3161 Michelson Dr. sale on its Park Place Campus. The class A office building's loan was coming due in September.

June 12, 2009 - Concord Hospitality Enterprises of Raleigh, N.C. is undertaking a significant expansion in Texas. The firm recently opened three hotels in the Dallas/Fort Worth area and it will open four more in Houston and San Antonio later this year. "Despite the current recession, the Southwest is still a burgeoning market with numerous opportunities to establish market share," said Mark Laport, CEO of Concord. For more details please go to the Texas Roundup page. ... ... Space has been leased in Irvine, Calif. for business related to importing rice from India. Kusha Inc., the leading importer of quality Basmati rice from India, leased 38,400 sf of industrial space in a 5-year deal for $1.67 million, according to Lee & Associates. Kusha Inc. was represented by Dick Silva from Lee & Associates of Newport Beach. The Lessor, RDM Properties, was represented by Phil Cohen and Matt Durkin of Lee & Associates of Irvine.

June 11, 2009 - HFF (Holliday Fenoglio Fowler, L.P.) has arranged a $38 million recapitalization of The 1000 Broadway Building, a 268,655-sf, 23-story office tower in downtown Portland, Ore. The building is 96 percent occupied. ... ... Dallas readers note: Kuehne + Nagel, Inc. signed a 267,902-sf industrial lease at 1800 Waters Ridge in Lewisville, Texas. Steve Trese and Nathan Lawrence of CB Richard Ellis handled the deal. ... ... The former Pearl Brewery in San Antonio is now a mixed-use project with the largest solar power project in Texas. The $1.35 million, 200-kilowatt solar installation will produce about one-quarter of the building's energy needs, according to CPS Energy and Pearl. The Pearl property is being converted into retail, restaurant, office and residential space by Silver Ventures. The Pearl Brewery operated from 1883 until 2001 on 22 acres on the banks on the San Antonio River, north of downtown.

June 10, 2009 - Youngwoo & Associates and Kumho Investment Bank win a best-and-final by CBRE for AIG's Manhattan headquarters and an adjacent high rise. The 1.4 million sf of trophy space is the lead play for the JV's investment push into U.S real estate and capital markets. The National Gazette has the facts. In Boston, Jones Lang LaSalle gets leasing rights to the 296,839-sf University Office Park…. .…In Dallas/Fort Worth, a private investor buys the 160,000-sf Research Center from Bank of America and a developer from Florida pays $5.57 million for the 24.552-sf Grand Lakes in suburban Houston…. …..Value-add buyers claim their prizes in the latest round of latest deals for the Multifamily Magazine…. ….A new hire and a promotion highlight the People Blog.

June 9, 2009 - China Housing & Land jump-starts work on a $7 billion residential and commercial development in Xi'an. The 6.6 million-sf project was designed by Leo A. Daly of Washington, D.C. Details are in the International Dispatch..... …..In Houston, Regency Centers will open the 147,917-sf Waterside Marketplace in October, with Kroger unveiling its largest store in Texas. The 123,000-sf box will feature brand-name home furnishings and jewelry alongside the grocery lineup…. ….. In Houston's Leasing Briefs, FedEx SmartPost takes 85,000 sf at Hardy Distribution Center…. …..Silvestri Investments sells its only holding in Dallas/Fort Worth, the fully leased 53,543-sf MacArthur Plaza. In other retail news, Rally House Texas leases a spot for its first store in the state…. ….The National Gazette features the sale of the 363,237-sf Murphy Ranch Technology Park to Spear Street Capital, a headquarters lease in the Silicon Valley and BRT Properties' JV plan for properties in downtown Newark…. …..The Multifamily Magazine spotlights the launch of Caldera Asset Management, a new player in the distressed marketplace, the packaging of $36.5 million in four loans for a class A complex in Philadelphia and the sale of 32 unfinished units in Phoenix…. …..Behringer Harvard hires a senior vice president and promotes five others in its Dallas ranks in today's People Blog…. …..And, Residential Topics has details for Zetabid's auction plans for 155 homes in Phoenix.

June 8, 2009 - Boston Properties is chasing $731.9 million, offering 15 million shares of common stock to the market and 2.25 million shares in an overallotment. In other National Gazette news, GE Healthcare turns on lights in a $165 million digital production factory in North Greenbush, N.Y. It's only the second semiconductor facility to earn LEED Gold status. Also, Kennedy Wilson Auction Group jump-starts a commercial division with a disposition assignment from Pfizer…. …..In the Multifamily Magazine, a Hendricks & Partners' team sells a 14-property affordable housing portfolio in western Wisconsin to a non-profit organization…. …..The latest lease closings lead the Dallas/Fort Worth Leasing page…. …..The People Blog has the latest hires for CBRE Hotels and Grubb & Ellis…. .…Zoetry Wellness & Spa Resorts gets front-row beach seats in the Dominican Republic to expand its brand. The International Dispatch has the details.

June 5, 2009 - Trammell Crow Residential secures $50 million in two loans for class A multifamily properties in Houston. The Multifamily Magazine has the details, along with the sale of a class A complex in far north Dallas…. ….. National Gazette highlights include First Industrial's triple sweep of the capital markets, another Kimco refinance and a "buy one, sell one" strategy for Grubb & Ellis. A handful of other deals round out today's page…. …..On the Houston page, a new retail report reveals vacancy has hit its highest level in one decade. And, the prognosis for the future shows vacancy is poised to climb higher…. …..Dallas/Fort Worth Leasing details the latest activity in the market while the People Blog details personnel shifts in North Texas for Jones Lang LaSalle and Cadence McShane.

June 4, 2009 - Tokyo bumps London as the world's most expensive office market in CBRE's global survey of occupancy costs. The Top 10 roster and where the U.S. cities fell are in the International Dispatch…. …..Multifamily investment sales are bristling with activity, including a closing by a Boston buyer who's eyeing North Texas for value-add deals.…. …..In Dallas/Fort Worth, HFF expands its assignment with Inland Western, with marching orders to find financing for $300 million of maturing debt. The news hits as the NYSE takes HFF off its de-listing watch…. …..In the National Gazette, Sony renews a five-year lease with Maguire at the San Diego Tech Center while Grubb & Ellis reveals an office signing in Portland…. …..Marcus & Millichap names new regional managers in Houston and Austin in the People Blog, which also has news about ULI Boston's new vice chairs.

June 3, 2009 - American Realty Capital Trust lays out $30.9 million for the 152,640-sf FedEx Freight facility in northwest Houston's Satsuma Industrial Park. The Houston page highlights the sale…. …..CBL & Associates updates the industry on a financial maneuver to redo $524.8 million of debt with due dates too close for comfort. The National Gazette also has details about Winthrop Realty Trust's $44 million purchase of two loans for office buildings in San Francisco and Phoenix. Also on the national front, Maguire Properties completes the pass of the 457,770-sf City Parkway to Abbey Co. of Long Beach. The deal erases a $99.3 million loan for the seller and a master lease with $6 million annual rent payments. Rounding out the national news, four self-storage properties sell in unrelated deals in Georgia and Texas…. …..In the Multifamily Magazine, a new investment group, 180 Multifamily Properties, starts its move to acquire 500 units in Dallas/Fort Worth before the year ends…. …..The retail sector in Dallas/Fort Worth is put under the microscope of Marcus & Millichap and Roddy Information Services. Neither research team has a rosy prognosis for the near term.

June 2, 2009 - A Jones Lang LaSalle team in Dallas begins a global search for a joint venture partner for a $120 million buy-in to a 45 million-sf mixed-use development on 57 in-town acres. The Dallas/Fort Worth page has the details. Also, two hotels North Texas are sold…. …..In Houston, Weingarten Realty Investors joins the money chase with two tender offers to buy up to $350 million. In the People Blog, Houston's Steve Mellon has been picked to lead Grubb & Ellis' self-storage group…. ….The Multifamily Magazine has more California activity…. …..ULI and BOMA take center stage on the Association News page…. …..In the National Gazette, Tecton Hospitality takes its Desires Hotels brand to foreign shores, getting a solid start on a 15-property management goal by 2010.

June 1, 2009 - The call for offers has arrived for the 359,172-sf Heritage Square 1 and II, a give-back from its long-time owner to special servicer, KeyBank, which ordered an immediate sale. An inside look at the hunt for a buyer is on the Dallas/Fort Worth page…. …..In D/FW Leasing, RM Crowe's Ridglea Village earns three renewals and two new tenants…. …..Westmount Realty Capital Partners lands a new tenant for a 1.1 million-sf repositioning that began three years ago with a nearly empty industrial park in Charlotte, N.C. Also in the National Gazette are details about a $95 million allocation for the Enterprise Community Investments' green development program. Ernst & Young releases its survey of 40 major funds, painting an ongoing grim picture for real estate fundamentals this year…. …..Globally, commercial real estate isn't much better than the U.S., according to a first-quarter survey by RICS. Details are in the International Gazette.

May 29, 2009 - Dallas/Fort Worth's tight-knit brokerage circle is rallying to the side of a former colleague, Tommy VanZandt, who sustained a severe spinal cord injury at his home in Fayetteville, Ark. More than $111,000 has been contributed in less than six weeks and the main event isn't until June 11. Details lead the Association News page. Also, TREC's Associate Leadership Council marks a dedication milestone for an $80,000 affordable housing project…. ....A trio of multifamily property buyers in North Texas provides an insider's view of what it takes to survive the trying times. The Multifamily Magazine has the tips along with details about a new sale in West Palm Beach, Fla. and two in Dallas/Fort Worth.…. ….New Marcus & Millichap promotions headline the People Blog and news leases lead the Dallas/Fort Worth Leasing page…. …..In the National Gazette, Grubb & Ellis takes a first-quarter revenue loss, but shows how it will weather the recession with this week's financial maneuver. Also, USAA's industrial REIT III buys a 657,600-sf distribution center in California, with a 15-year lease guarantee from Home Depot while Highwoods Properties sells a 416,000-sf retail portfolio in Missouri for $62.1 million.

May 28, 2009 - In an agreement in principle, a panel of professionals provided the harsh realities for the next 12 to 18 months in the multifamily market. One of the chief hurdles to overcome is making sellers into believers of the marketplace, one pro told the North Texas Apartment Owners at a Dallas/Fort Worth event…. …..In the National Gazette, CBRE's project management team pulls together a punch list tailored for the times in a new report…. …..A 75,000-sf lease puts a "no vacancy" sign on a 294,000-sf distribution center in ProLogis Park Heathrow. The gist of the deal is in the International Gazette.

May 27, 2009 - Pulte Homes and Centex Corp., two of the nation's largest home builders, have announced they have completed the conditions of the Hart-Scott-Rodino Act, another hurdle in moving toward a merger of the two giants. If shareholders approve, Texas-based Centex and Michigan-based Pulte Homes will combine in the third quarter of 2009. ... Kerr-McGee Oil & Gas Onshore has sold 71 acres of land near Lake Livingston, north of Houston, to the Cole-Malone Living Trust. Cushman & Wakefield's Kelley Parker, John Littman and Coe Parker represented Kerr-McGee. .... .....Alcion Ventures and Golub & Co. form a $100 million joint venture targeting distressed assets for acquisition or new funding. Also in the National Gazette, Alexian Brothers unveils a 200,000-sf tower for its Elk Grove Village campus and slides Jones Lang LaSalle into the driver's seat to oversee the 700,000-sf medical portfolio in northwest Chicago. The impact of the federal stimulus on commercial real estate goes under the microscope in a new report by Marcus & Millichap.…. …..A New York-based investment group tops 26 offers for a class A student housing complex in Michigan. Details are in the Multifamily Magazine…. …..In the International Dispatch, Le Meridien adds three resort and hotel properties to its Asia Pacific portfolio, taking its total to 26 and more on the drawing board.

May 26, 2009 - Red River Asset Management, with a new leasing team at its side, is rolling out a new story for a 230,000-sf, class A office building in the Stemmons submarket. The behind-the-scene details highlight today's Dallas/Fort Worth news…. …..In the National Gazette, ULI's CEO Richard M. Rosan says smart development must be part of the federal government's equation to cut greenhouse emissions. In Chicago, the landmark 123 N. Wacker passes the Energy Star test to do its part for energy conservation. In other national news, Baskin-Robbins makes its push into Kentucky and a five-year lease for 18,032 sf opens new doors for a Phoenix company…. …..The handwriting's on the wall for Tucson multifamily owners, who will be forced to cuts rents even more to stay competitive, according to the latest report from Marcus & Millichap. Details are in the Multifamily Magazine.

May 23, 2009 - Bridgeland, an 11,000-acre master planned community in northwest Houston, is under contract to be sold to the Caldwell Cos., a Houston firm led by Fred Caldwell. The project, still mostly undeveloped land, is owned by General Growth. A Houston Business Journal story by Jennifer Dawson reported that Caldwell is backed by the Sumitomo Corp. The site is near Highway 290 and Fry Road.

May 22, 2009 - In an unsolicited offer, one of Canada's premier office towers has been sold for $263 million to Deka Immobilien Investment GmbH. Details are in the International Dispatch, along with Al Fajer Properties' decision to speed up work on four more towers, totaling 1.6 million sf, for its flagship development in Dubai and ProLogis' latest deals in Germany.…. …..Eaton Vance's consolidation plan, set into motion in 2006, is ready to come to fruition, with work wrapping up on 300,000 sf on 10 floors at Two International Place in downtown Boston. The National Gazette has the details. Also, Sunstone Hotel Investors jump-starts a secondary offering to raise another $109 million while moving to shore up its maturities through 2011. And in the East, four regional malls in receivership move to the disposition block under the guidance of Jones Lang LaSalle's distressed asset receivership team…. ….The People Blog features a new honor for John Q. Hammons as well as FelCor's newest board member Glenn A. Carlin and the addition of brokers to Prudential Gary Greene's team.…. ….A few new deals top off the Multifamily Magazine and Dallas/Fort Worth pages.

May 21, 2009 - Duke Realty passes three class A buildings, including one in Houston, to its joint venture partner, CB Richard Ellis Realty Trust, for slightly more than $41 million. The deal's details are on the Houston page. Three renewals get checked off RM Crowe's to-do list in Dallas/Fort Worth…. …..In the National Gazette, Disney is making one developer's dream come true in National Harbor, Md. In Chino, Calif., the 539,270-sf Crossroads Marketplace sells for $79 million. In East Coast news, the Chetrit Group and Stellar Management begin showings at the five-building Columbus Square, a mix of 710 apartments and 300,000 sf of retail in Manhattan. And in Illinois, Cornfields Inc. renews and expands to 108,000 sf for its headquarters and chief packaging plant for its healthy snacks lineup…. ….Distressed sellers have a new buying resource, Occasio Rescap, a new fund from Redcap Real Estate Partners. The goal is to buy $500 million of residential assets. Details are part of today's Residential Topics.

May 20, 2009 - In a new report, Austin-based Forward Capital's chief economist finds the multifamily market was hit particularly hard in April, with construction starts at the lowest point since tracking began in 1959. The Multifamily Magazine has more details along with an Austin investor's acquisition of a 172-unit complex in Dallas… ….The National Gazette sports a new report – RICS' quarterly state of the global real estate market as seen from investors' eyes. In the world of public offerings, Forest City Enterprises closes a $286.7 million raise and moves into the over-allotment phase in its push to amass $329.8 million to pay down debt on a $750 million revolving credit line…. ….NAI Robert Lynn releases a trio of just-closed deals on the Dallas/Fort Worth Leasing page.

May 19, 2009 - CB Richard Ellis Research releases a new global report, showing some "economic green shoots" emerging and more on the horizon. The change is promising, but not strong enough to change the tide for 2009. The National Gazette has CBRE's globe-trotting findings. Also, Digital Realty Trust buys 34.2 acres in Northern Virginia near one of its datacenter campuses, getting enough land to add 400,000 sf. In New Jersey, Mack-Cali and Virgin Mobile ink a five-year lease for 93,376 sf. The Pittsburgh area gets a 120,800-sf lease from YRC Logistics.…. …..In Texas news, Place Properties picks up a student housing property in Austin and Dallas/Fort Worth experiences another assignment change for office leasing. In the People Blog, a 20-year veteran changes shops.

May 18, 2009 - Today's highlights showcase the strategy in motion for Grubb & Ellis' 1.8 million-sf office assignment in Dallas/Fort Worth, the start of Duke's $154 million project for Baylor near downtown Dallas and McCarthy's new location for its office…. …..In the Multifamily Magazine, New Orleans developers open doors for 100 eco-townhouses on the city's Westbank and more multifamily properties change hands in Colorado and New Jersey…. ….Developers pencil the grand opening of the first luxury resort south of the Equator in the Maldives. The International Dispatch has the details.... .....On the national front, Reis Inc. becomes one of the first newsmakers for the International Council of Shopping Centers' annual convention, now underway in Las Vegas. The research firm has added 27 markets to its coverage portfolio of neighborhood and community shopping centers, bumping the total to 105 markets with more on the way in August.

May 19, 2009 - Apartment construction is moving ahead at a brisk pace in Houston, according to a report by Grubb & Ellis. More than 16,000 new units were constructed last year and another 5,491 units were completed in the first quarter of 2009. "Throughout the Greater Houston Area, there are currently 81 projects totaling a remarkable 20,908 units under construction with an additional 49 projects totaling over 12,000 units
on the drawing board for future ground breaking," Grubb & Ellis reported. The Galleria area is the site of a tremendous amount of multi-fam construction

May 16, 2009 - Energy prices are down considerably from the highs of 2008 and domestic drilling activity has slowed. But oilfield-related deals keep happening in Houston. The latest in this long string of activity was for an industrial deal in north Houston. Mud King Products, a supplier of quality oilfield replacement parts, leased 37,969 sf at 5390 Greens Road in north Houston. Glynn Mireles of CB Richard Ellis represented the landlord group of Lee Toombs, Liza Toombs and Ann Toombs Alej in the transaction while Caleb Lawson of the Lawson Group represented the tenant.

May 15, 2009 - Butler Burgher Inc. is back after two years as operating under the LandAmerica Valuation Services' flag. A management buyout puts Diane Butler back in the driver's seat for the eight-city operation. Details on the Dallas/Fort Worth page, as is news about DFW International Airport's new cargo tenant and a sale by Henry S. Miller Brokerage.…. …..Hilton Hotels Corp. jumps back into Panama with four management contracts, totaling 1,033 rooms. The International Dispatch has the details…. ....In the National Gazette, a 15-property portfolio of net-leased office and retail space in Florida and Georgia is up for grabs for $67.5 million. Also in Florida, the 356-acre Boca Raton Resort comes off a $220 million makeover as the 13th property in the Waldorf Astoria Collection. And, the week brings more recap news for Wall Street and private investment circles as companies go in search of new capital…. …..In multifamily news, an institutional investor gets $23.28 million from Freddie Mac by refinancing a complex in Rancho Cucamonga, Calif., within weeks of clearing the closing table with a loan for its neighbor…. ….. Also, new leases get blessed in Houston and Dallas/Fort Worth and more personnel moves lead the People Blog.

May 14, 2009 - Dallas-based KDC launches a development group for healthcare and medical office properties, putting an 11-year veteran at the helm of the new initiative. Details on the Dallas/Fort Worth page…. ….Office renewals on the national front keep BellSouth Telecommunications in 133,000 sf in Florida and the GSA in 310,202 sf in Arlington, Va. while a headquarters lease in Tucson adds a new tenant at Centre East. The National Gazette also features a 3.3 million-sf campus on 2,500 acres of prized North Carolina land that Jones Lang LaSalle is marketing for Philip Morris USA. And in the latest round of public offerings, BioMed Realty Trust is in search of $166.4 million and Kite Realty Group is looking to raise up to $88.1 million…. ….Fifield Cos. brings in the finish-up crew to sell the last condos at the Allure in Las Vegas. Details on the Residential Topics page…. ….In today's Multifamily Magazine, a Texas-based development group has a 60-day exclusive negotiating period with the Town of Vail to lease roughly five acres for a 619-bed project, using Humphreys & Partners Architects' e-Max® design for the affordable workforce housing.

May 13, 2009 - The regional leader of Duke Realty Corp. discusses the going-forward strategy after winning its third developer of the year award from NAIOP North Texas. Also on the Dallas/Fort Worth page, R.W. Baird & Co. releases its review of Dallas-based FelCor Lodging Trust and the impact of belt-tightening moves on the company's finances.…. …..In the National Gazette, GE gives its nod to Upstate New York for a $100 million manufacturing plant for batteries deemed critical for energy storage systems. On the West Coast, CB Richard Ellis gets another accolade while Kimco gets a $13.6 million refinance to avert a loan maturity for the 133,860-sf Novato Fair Shopping Center…. ….The Texas Round-up details a plan by Cencor Realty and Weitzman Group to build a hip block of new retail in Central Austin. With it comes the sister teams' plan to move from downtown's Sixth Street after 16 years.

May 12, 2009 - Cushman & Wakefield Inc. lands a 250,000-sf leasing and management assignment in California from Hanover Real Estate as it undertakes a major renovation of its office asset. In New York, the Burchfield Penney Art Center becomes the first museum in the state to earn a LEED Silver. In Las Vegas, a McCarthy Building Cos. is hard at work on a $121.7 million expansion at McCarran International Airport. All details are in today's National Gazette…. ….A Brinker International Inc. franchisee, Jawad Business Group, opens the first Chili's in India and more are on the way, thanks to a five-year development pact. The International Dispatch lays out the plan…. ....The Dallas/Fort Worth page has new information about Jones Lang LaSalle's tenant hunt for 237,274 sf of historic space in the downtown's West End…. …..Leading today's Texas Round-up, Austin marks another first for the state, with the Galaxy 10 Highland Theatres debuting a new movie-going experience that's now only available in Hollywood and Arizona.

May 11, 2009 - Capmark buys more time for maturing debt, getting a commitment on a rescue plan for up to $1.5 billion. If all goes as planned, the definitive agreement will be inked by May 21. In other National Gazette news, Washington REIT gets an extension on a $100 million loan from Wells Fargo. McCarthy Construction Co.'s SoCal team begins work on a 554,000-sf expansion of Kaiser Permanente Medical Center…. …..In Dallas/Fort Worth leasing, Jones Lang LaSalle adds 458,000 sf to its book of business for office leasing in the metroplex by finalizing contracts with a quartet of separate owners…. ….On the international front, ExxonMobil digs into building a 290,625-sf technology center in China…. …..Check out the new additions to the Association News calendar and Multifamily Magazine.

May 9, 2009 - Property values in the Lone Star State have not suffered the serious declines that have swept over the real estate markets on the east and west coasts, according to Lewis Realty Advisors, a Houston-based appraisal and advisory firm. “Texas property values did not soar as high as what we saw in California and Florida earlier in this decade, and the recent declines in Texas real estate are also moderate,” said David Lewis, chief executive officer of the company. For more information, please go to In-Depth Stories page.

May 8, 2009 - A major alliance has been formed in the virtual world of online listings of homes for sale. Century 21 Real Estate, the franchisor of the world’s largest residential real estate sales organization, and REALTOR.com, the No. 1 homes-for-sale website, have announced an agreement to showcase every CENTURY 21-listed property on Realtor.com with enhanced features including vide

o tours of homes for sale. For more information please go to Residential Topics...... In other news, a new report shows that Houston is home to five of the top selling master planned communities. Newland Communities reported that new home sales were running ahead of 2008 totals in some instances. In 2009 at Cinco Ranch, a 7,600-acre community located near West Houston’s “Energy Corridor,” a total of 254 new homes had been sold through April 19, a 4.5 percent increase over the 243 homes sold in the same period in 2008. For more information please go to Residential Topics..... .......In the National Gazette, a prominent West Virginia family buys the 6,500-acre Greenbrier resort and Greenbrier Sporting Club from CSX Corp. The next step is to seek dismissal of the resort's bankruptcy filing. Jones Lang LaSalle gets a premier 257,000-sf leasing assignment in Boston from Berkeley Investments. Also, Broad Street Ventures buys a 50,000-sf class A office building in Maryland, sealing the deal with a full-building lease in hand from MedImmune. And, Denver-based ProLogis has jump-started a tender offer for all or part of its $450 million pool of notes due April 1, 20121, and $300 million that come due March 1, 2013. The tender offer will expire at midnight May 13.… ....In multifamily news, an all-cash offer by a family trust in Dallas wins 200 units in a classic value-add play..... ....If personnel news can make dreams come true, Jones Lang LaSalle's Dallas/Fort Worth office has gotten its wish to expand its industrial business in the region. The hiring spree adds two recognized heavy hitters and two rising stars.

May 7, 2009 - After six years of planning, work will begin next week on the $150 million phase one of Atlantic Village Hotel & Resort, a mixed-use project with one million sf in a 10-acre waterfront tract in Broward County. Also in the National Gazette, the Washington, D.C.-based Kettler marks a milestone for a $129 million project in Metropolitan Park. Other national news includes new leases on the West and East coasts and a retail sale for $335 per sf in Florida…. ….Dallas-based Ashford Hospitality Trust ends the first quarter with nearly $240 million in hand after belt-tightening moves and share buybacks to better position the company to ride out the recession. Details on the Dallas/Fort Worth page…. ….International news includes the upcoming opening of the City of Dreams in Macau.

May 6, 2009 - Houston's economy will lose a total of 61,000 jobs in the two-year period of 2009 and 2010, with most of the losses coming in this year, predicts Dr. Barton Smith, an economist at the University of Houston. Smith, before an audience at the Hyatt Regency, said a slow down in the energy industry will delete thousands of jobs from the local economy, as drilling and demand for oilfield equipment declines. The manufacturing slowdown will hurt the Houston warehouse/industrial real estate market. Smith said the Houston retail/shopping center realty market suffers from an oversupply of space, while things should improve for the city's multi-fam market. Area homebuilders have cut back sharply on the number of starts and this will help the housing market regain equilibrium soon..... .....On the national front, HFF Inc. delivers an 18-month timeline to the NYSE as it hunkers down with more cuts to survive 2009. HFF is staying the course from a powerhouse hiring in San Francisco to a refinance of office buildings in Boston's Financial District. Details are in the National Gazette…. …..In the Multifamily Magazine, a California-based investment group pays $23.2 million for the 308-unit Sage Stone at Arrowhead to a Midwest-based financial group…. …..And in other news, Grubb & Ellis' Dallas/Fort Worth research team issues a multifamily market report, shedding more light on the months ahead…. …..New personnel news leads the People Blog.

May 5, 2009 - With a loan maturity coming in August, ProLogis skirts the crisis with $137.5 million of new money from a major life insurance company. The loan's collateral is 21 properties in the Los Angeles Basin and Inland Empire, the second such move for its California holdings in two months. Meanwhile, Deloitte releases a new report about sovereign wealth funds and their interest in U.S. real estate. Both stories are detailed in the National Gazette…. …..Crescent Hotels & Resorts picks up eight management contracts, including the 430-room Sheraton Fort Worth. Details are on the Dallas/Fort Worth page.... ....In multifamily news, another California complex changes hands.

May 4, 2009 - Northwestern Mutual Life Insurance Co. gets more than $201.2 million in a three-way portfolio split of 1,368 trophy-quality rental units in South Orange County, Calif. Marketing teams from Hendricks & Partners and CBRE quarterback the sales. Who buys what for how much is in today's Multifamily Magazine…. …..In today's National Gazette, Filene's Basement becomes the newest victim of a Chapter 11 bankruptcy filing, but the protection filing comes with a buyer for 17 of its 25 stores. In other retail news, AEI has bought $30 million of Best Buy-leased assets, guaranteed by leases with at least 10 years left on the term. Also, Phoenix's industrial market shows a glimmer of hope after repeated quarterly beatings. In Tarrytown, N.Y. BioMed Realty Trust lands an 80,000-sf lease expansion.…. ….On the Dallas/Fort Worth page, the 64,267-sf Silveron Office Center, which is 95 percent leased to three tenants, joins the region's list of for-sale properties.

May 3, 2009 - First City Tower, a 49-story, 1 million-sf tower in downtown Houston, is going green -- and going gold. ... The property has been awarded LEED Gold certification for an Existing Building from the U.S. Green Building Council (USGBC), the first building n Texas to receive this designation. The building, managed by CB Richard Ellis, is owned by FC Tower Property Partners L.P. The upgrades to make the building green include a solar powered trash compactor, CBRE said.

May 2, 2009 - Land has been purchased in the southwest Houston area for a construction of a funeral home. The site is a 1.29 acre tract of land on Eldridge between Highway 90A and West Airport in the Sugar Land Business Park. Monticello Houston Properties was the Seller and WMS Sugar land, LLC was the Buyer. Broker Donnie Chang coordinated the sale. .... .... ... Housing markets in Texas are the best in the nation, even though the national economic slowdown is dragging down the Lone Star State to a certain extent, said Mike Inselmann of MetroStudy. Inselmann told a luncheon meeting of ULI in Houston that home prices in Texas have been stable, compared to the wild upward and downward swings in some parts of the nation. The inventory of homes for sale in the Houston area (a 6 month supply) is small compared to the 24-month supply Houston had in the horrible 1980s crash, Inselmann said. Will Holder, president of Trendmaker Homes, said the home building industry has gone through a rough adjustment as housing starts are about half of the 50,000 starts per year of two years ago. Companies that supply building products and materials are stressed. However, customer traffic in model homes is surprisingly good, Holder said. Large master-planned communities are outperforming smaller subdivisions, Ted Nelson of Newland Communities told the ULI.

May 1, 2009 - Gov. Rick Perry's wife, Anita, will lead a Texas trade delegation to Madrid, becoming some of the first passengers for American Airlines' inaugural flight to Madrid from DFW International Airport. The move is expected to fuel a $100 million economic impact annually for the state. To mark today's launch of the daily service, International Terminal D is being transformed into a Spanish-style plaza, with guitar players and Flamenco dancers…. ….Wells REIT II's corporate team has wrapped up a 12-city tour to personally reach out to company shareholders who couldn’t make the annual meeting in Norcross, Ga. The REIT has more than 100,000 active investors and a 20 million-sf portfolio with 83 office and industrial buildings in 23 states and Washington, D.C….. …..In the National Gazette, Tompkins Builders gets a construction management contract for a $90 million complex at Ft. Eustis, Va. Also, Akridge Office Fund buys the 122,543-sf Fairmont Building, a fully leased class A building that opens the fund's door to downtown Bethesda. In Arizona, Marcus & Millichap wins marketing rights to the 480-key Carefree Resort in Mesa..... …..In multifamily news, a 120-unit asset in Mesa, Ariz., sells for $9.2 million to a Colorado Springs, Colo., buyer…. …..Jones Lang LaSalle gets its first receivership contract in Dallas/Fort Worth: a 100,000-sf, two-building office complex. The full-service contract includes finding a buyer for the 820 Business Tower. Meanwhile, JLL and the former Staubach Co. teams complete their consolidation in a move to a new class A office in Preston Center…. ….More news on the leasing pages, Texas Roundup and more industry awards for CBRE, Colliers International and Jones Lang LaSalle.

April 30, 2009 - The Teas Nursery property, representing one of the largest remaining Inner Loop tracts in Houston, is up for sale. The 4.95-acre tract, located at the northeast corner of Bellaire Boulevard and Newscastle, is listed for $8.5 million or $39 psf. The property is in the City of Bellaire, where most single-family new construction is priced at $1 million or more as old homes are torn down and replaced with large dwellings. The Teas site is being marketed by Jeff Peden, Graham Horton and David L. Cook of Cushman & Wakefield. A few years ago a portion of the Teas property was sold off to Lovett Homes..... .....Burlington Coat Factory sweetens the pot with a guaranteed 15-year stay at nine locations, including Houston, as it sends Jones Lang LaSalle in search of a buyer or buyers for a 715,000-sf sale-leaseback portfolio. Details are in the National Gazette along with an inside look at the Phoenix office market…. …..In Fort Worth, Fine Line Diversified Development and Interra Development unveil a plan to build one million sf of office in the 729-acre mixed-use Champions Circle. The Dallas/Fort Worth page has the details about the Grubb & Ellis team's hunt for a lead tenant. D/FW Leasing features two new assignments for the Weitzman Group.…. …..In the multifamily market, small deals in California and Washington cross the finish lines.

April 29, 2009 - Retail news abounds, with three cities getting new shops in a promising note for the sector. Names and details are in the National Gazette and on the Dallas/Fort Worth page…. …..Humphreys & Partners Architects adds two more Pillars of the Industry awards to its wall of fame. The Dallas-based firm lands top honors for "Best Condominium High-Rise" and "Best Adaptive Re-Use" in the National Association of Home Builders' 2009 competition. Details are in the Multifamily Magazine.

April 28, 2009 - The National Housing Conference and Center for Housing Policy earn prestigious cash awards from Chicago-based MacArthur Foundation, which selected eight non-profits for the 2009 honors. The story and several others, including a $10 million lease, are on the National Gazette…. …..The Residential Topics page holds the latest housing report from Austin-based Forward Capital Group…. ….Colliers names Doug Frye as its new USA board chairman. More promotions and hires are on the People Blog…. …..In Fort Worth, Jones Lang LaSalle adds 450,000 sf in two assignments to its landlord service, which launched in January and has reached two million sf, thanks to a new hire. Details on the Dallas/Fort Worth page.

April 27, 2009 - Looking for new ways to tell a commercial real estate story? Many innovative industry tools are or will soon be in the marketplace. CCIM's just-introduced STDBOnline Site Analysis 3.0, a tool for members and subscribers, has been unveiled with a $1 million grant program for the industry. The Dallas/Fort Worth page has details about the Real Estate Technology Expo and the Association News page has information about CCIM's new version of its tool and how to get a grant.... .....CoreNet Global has given a special commendation to CB Richard Ellis Inc. for sustainable leadership and design in the for-profit category at its 2009 Global Summit, which is underway in Dallas. CBRE was honored for its Planet Building concept, a holistic approach to environmental responsibility for all facets and activities at a commercial property. The CoreNet Summit wraps up tomorrow.

April 26, 2009 - Pinto Realty Partners, a group backed by the Cockrell family, is developing a 1,000-acre business park at the intersection of Beltway 8 and Interstate 45 in north Houston, according to a story by Jennifer Dawson in the Houston Business Journal. Dave Cook of Cushman & Wakefield is leading the marketing effort..

April 25, 2009 The Houston office market continues to show positive absorption and rental rates are stable, according to a first quarter report by CB Richard Ellis. Landlords are more willing to make concessions and give some free rent, however, CBRE executive vice president Sanford Criner said at a press briefing. CBRE reported Houston had 200,000 sf of absorption in the first quarter. Weakening job growth is expected to drag down absorption later this year. Tom Fish of CBRE Melody said a lack of liquidity will be putting a great deal of pressure on property owners later in the year. Expect to see foreclosures in the fourth quarter. Building owners are being extremely carefully in the current environment and trying to reduce operating expenses, even trimming janitorial costs, said Mark Nicholson of CBRE. In industrial, landlords are taking unusual measures to keep buildings occupied by offering lease renewals as short as one year, said CBRE's Bill Rudolf. Land prices are off sharply as home builders have reduced demand, said Steve Duplantis, who directs appraisal activity for CBRE.

April 24, 2009 - Boston-based DebtX has penciled May 12 to sell more than $269 million of commercial real estate and loans from two FDIC receiverships. Up for grabs are $190 million of assets from the Bank of Clark County of Vancouver, Wash., and $79 million of assets from FirstBank Financial Services of McDonough, Ga….. …..On the Dallas/ Fort Worth page, MGHerring Group is rolling out the red carpet Wednesday to debut an upscale steakhouse concept, Bailey's Prime Plus. In D/FW Leasing, Grubb & Ellis adds the 100,000-sf 8300 Douglas in Preston Center to its business and Hall Office Park adds a new headquarters tenant…. …..Elsewhere in the U.S., a court-appointed receiver hires Holliday Fenoglio Fowler to market the 988,184-sf Tallahassee Mall in a no minimum-ask, debt-free scenario. Details in the National Gazette…. ….In the Multifamily Magazine, Freddie Mac clears an $18.5 million loan for the 383-unit, class A Mallory Square Apartments in Tampa.

April 23, 2009 - Only Atlanta and Dallas showed increased office leasing activity in the first quarter although both markets still remain above the nation's average vacancy level of 16.5 percent, according to Jones Lang LaSalle's new report, which paints a grim picture of conditions in most cities until 2010 as sublease and unemployment rise and new buildings come on line. Details in the National Gazette, which also has the news about Comcast Center's new milestone and LEED CS Gold designation, a ProLogis-Sanyo lease signing for 215,000 sf in Chicago and some new deals in Phoenix…. …..The Dallas/Fort Worth page has details about Humphreys & Partners Architects L.P.'s new division, landscape architecture, for multifamily and mixed-use developers. Also, Dallas-based Gatehouse Capital gets a new equity partner for a plan to build an Aloft hotel in Jacksonville, Fla.

April 22, 2009 - The Urban Land Institute has published a second book by long-time member and Brookings Institution Senior Fellow Anthony Downs. Real Estate and the Financial Crisis probes the collapse in the capital markets, provides recommendations for change and maps out scenarios for various outcomes. More about the book is on the Association News page…. …..In Fort Worth, Hillwood has reported its second highest first-quarter gains in AllianceTexas' 20-year history. Details on the Dallas/Fort Worth page. In other Hillwood news, the Dallas Morning News and Star-Telegram this morning are reporting the company is in talks to pass controlling interest in Victory in Downtown Dallas to German investor, US Treuhand, which has been providing capital for the project since 2006.... ….CB Richard Ellis Group Inc. has earned a slot on the Fortune 500 list for the second consecutive year. The firm was ranked at 464.

April 21, 2009 - Using input from 330 developers, ULI and Ernst & Young make a call for a change in attitude about infrastructure needs in the U.S. Their new report, Infrastructure 2009, is outlined in the National Gazette…. ....Rick Graf, president of management company Pinnacle, takes over June 1 as president of the Texas Apartment Association.... .....Holliday Fenoglio Fowler teams arrange loans for an office building acquisition in Washington, D.C. (Details in the National Gazette), and the refinance of a class A multifamily property in Indianapolis, which is in Multifamily Magazine as is a 232-unit purchase in Dallas by the Conti Group.

April 20, 2009 - It's all about money in today's news. Colonial Properties Trust Inc., a Birmingham, Ala.-based REIT with assets in Texas, has increased the size of its note buyback to $250 million from $175 million, setting the deadline to participate for midnight May 1…. ….Meanwhile, Mauldin, S.C.-based BI-LO has secured a $125 million debtor-in-position credit facility to use as working capital for its Chapter 11 bankruptcy restructuring. GE Capital Markets is quarterbacking the lenders' circle. The grocery chain has 215 stores in the Carolinas, Georgia and Tennessee…. ….Kimco Realty Corp. has worked out the last details for a $220 million loan. The unsecured two-year loan came from a consortium of 12 banks, with contributions ranging from $5 million to $40 million. Part of the proceeds will be used to repay U.S. credit facility, which was recently was used to repay $130 million of unsecured medium-term notes with a 6.88 percent interest rate. The New Hyde Park, N.Y.-based shopping center owner and developer estimates it will have about $1.6 billion of borrowing capacity in its credit facilities once the pay downs take place.... .....In North Texas, MillerCoors expands at Hall Office Park, signing a five-year lease for 25,271 sf. Details in D/FW Leasing.

April 18, 2009 - Home builders are starting to purchase land and look for property in some parts of the country, accorind to a study by John Burns, CEO of Irvine, Calif.-based John Burns Real Estate Consulting. Already this year, 18 percent of the builders surveyed have purchased land. And 29 percent indicate they will buy land in the second quarter of 2009. By 2010, 47 percent of the builders expect to be buying land. Builders are targeting Washington D.C., Charlotte, Dallas and Tampa for near-term land buys. There was a pronounced message that buying would not be occurring in Phoenix, Atlanta, Austin, Chicago, Denver, Las Vegas, Orlando and Orange County for quite some time. Recent land buying appears to have been predominantly among private builders, not publicly traded builders.

April 17, 2009 - Medical space remains a strong segment nationally, although construction will be down according to Marcus & Millichap. Completions peaked last year at more than 17 million sf of space. Almost one-third of the new inventory came online in the Southwest, where a once-booming housing market and robust population growth supported demand. Despite the strength of medical office properties, the current economy has prompted developers to cut deliveries for the foreseeable future. Nationwide, completions are forecast to drop to 14.1 million sf this year, or an inventory expansion of 2.6 percent.

April 16, 2009 - BULLETIN --- General Growth Properties, owner of 158 regional malls, filed for Chapter 11 protection in bankruptcy court in New York. The company had been trying for months to restructure its debt before taking Chapter 11 early Thursday. "While we have worked tirelessly in the past several months to address our maturing debts, the collapse of the credit markets has made it impossible for us to refinance maturing debt outside of Chapter 11," said Adam Metz, CEO of the Chicago-based company. Certain subsidiaries, including the firm's third-party management business and joint ventures, have not filed Chapter 11...... .... Clay Development and Construction is developing Deerwood Glen, a 150-acre business park in Deer Park at 4400 Highway 225 near the Houston Ship Channel. The project will have over 1 million sf of space. The 150-acre, mixed use park will open with a newly constructed, two-story, 88,000 sf Class A office building that is slated for delivery in August of 2009. The building is 50 percent pre-leased to an undisclosed lead anchor tenant. Robert Clay, one of Clay’s owners said. “To have a lead tenant come-in this early in-the-game, plays a significant roll in the success of the development." John Pruitt, Jessica Ochoa, and John Simons of CB Richard Ellis will handle all the leasing and marketing efforts for Clay...... In other news, Stream Realty Partners has been selected to lease Citymark, one of the most identifiable buildings in Uptown Dallas. This 11-story, 220,000-sf project is owned by Hines REIT and managed by Hines.

April 15, 2009 - The Commercial Expo, a long-standing event in Houston commercial real estate circles, drew a large crowd Wednesday night. The event has been redesigned from years past in order to allow more time for networking , said Sam Scott, director of Commercial Gateway for the Houston Association of Realtors. For 27 years, HAR and the SIOR have put on the event, which used to be called Developer Day. The recession has dampened the real estate market, but it was hardly a somber event. This year’s Commercial Expo drew a packed house – hundreds of brokers and developers at the InterContinental Hotel. During this dip in the market, many commercial brokers are expanding their line of work, doing leasing or concentrating on smaller deals that are easier to finance, said Carlos Bujosa, vice chair of HAR and an executive with McDade, Smith, Gould, Johnston & Co. Please go to the People Blog to read Ralph Bivins' column on the Expo. .. ... ... Grubb & Ellis Co. has been awarded a 618,000-sf management assignment by Tesoro Corp., an independent refiner and marketer of petroleum products. The assignment will be at Tesoro’s new company headquarters on San Antonio ’s north side, which the company is expected to occupy in June. Located on 15-acres within the new Ridgewood Park business center, the recently constructed Tesoro campus includes the 618,000-sf complex, complemented by a 2,400 car parking garage. The facility is split between two buildings connected by a main lobby, a 14-story office tower offering 451,000 sf of space and a six-story office building providing roughly 167,000 sf.

April 14, 2009 - CB Richard Ellis is ranked No. 1 among the largest commercial real estate firms ranked by National Real Estate Investor magazine. The ranking, featured in the publication’s April 2009 issue, is based on the aggregate value of sales and leasing transactions completed globally during 2008. CB Richard Ellis was responsible for $138.8 billion of global sales and leasing transactions in 2008. “Despite the most challenging economic environment in decades, CB Richard Ellis once again delivered best-in-class results for our clients,” said CB Richard Ellis’ Mark Taylor, Managing Director in Houston.

April 13, 2009 - The most tender incubator of young entrepreneurs in America is the lemonade stand. It is an excellent training ground to teach kids about producing a product, marketing it and making a profit. John Daugherty Realtors of Houston will build and help to set up 100 lemonade stands in Houston on May 3. The effort is part of a national program established by Prepared 4 Life. The group's goal is to have 25,000 lemonade stands operating across the nation on Lemonade Day, the first Sunday in May. For more information go to www.LemonadeDay.org. This is an excellent way to support and sustain our American values.

April 10, 2009 - 3 Northpoint Drive , is a three-story 54,000 sf office building has been sold.The building, 100 percent leased to the State of Texas, is located near Interstate 45 North and Beltway 8. “The property went under contract in less than two weeks from the time it went to the market for sale,” said Logan Brown Jr.t of Grubb & Ellis’ Houston office. Brown and Chris Wadley represented Gillett Properties. The buyer, WW Cole Group Ltd., represented themselves..... .....Continuing a long-time landlord-tenant relationship, ProLogis seats Cardinal Health in 211,000 sf in ProLogis Park DeSoto near Memphis. The 980,464-sf, two-building park is now 82 percent leased. The healthcare provider now leases nearly one million sf in five locations owned by the Denver-based developer.... .....Equity One makes a $124 million stock play. An office park near Boston sells, but another class A office property in Michigan ends up being moved to the auction block. In the East, three hospitality veterans launch a new third-party management company. These stories and more are in the National Gazette…. ….California's premier electric-volt car maker, Tesla, establishes a beachhead in London, the first of three European showrooms coming this year. The International Dispatch lays out the plan. … …..Texas news brings a flurry of leases by NAI Robert Lynn and CBRE in Dallas/Fort Worth and two sales, with details on the D/FW Leasing and Dallas/Fort Worth pages. … .... The Multifamily Magazine has the latest deals for the residential sector.

April 9, 2009 - Jupiter, Fla.-based Weiss Research issues a new report that supports the number of at-risk banks is growing. Which ones top the watch list? Details on the National Gazette, as is information about a 5,835-acre sale in Tennessee to a developer, who fended off at least 80 auction bidders to get prime land in the Walden Reserve recreational area about 60 miles north of Knoxville...... …..In the Multifamily Magazine, Hendricks & Partners' Aaron Hargrove provides insight for a $24 million sale of a 984-unit portfolio in Tulsa – and how the deal pushed into the 11th hour for the seller…. ….Fort Worth-based Trademark Property Co. is taking its property management skills on the road, launching a full-service line to build a third-party business targeting institutional investors and lenders. Also in North Texas, the DFW International Airport is getting another $2 million of stimulus money for vital upgrades. The Dallas/Fort Worth page details the stories.

April 8, 2009 - It's a sign of the times: hotel owners and management companies are stepping up efforts to fortify cash positions to survive the downturn. The measures they've taken and advice to stress-test regularly is found in the latest industry report by Ernst & Young. More tips in the National Gazette…. ….Transwestern Dallas' Paul Stockard gets a signed deal for a leading law firm after spending nearly one year scouring Dallas' CBD for space. Details on D/FW Leasing page…. ….Also in Dallas/Fort Worth, Starwood Land, a residential and land developer, starts shopping the market with a new investment partner, Taylor-Duncan Interests.

April 7, 2009 - Jones Lang LaSalle unveils a $20 million plan to retrofit the Empire State Building into an energy-efficient icon with LEED Gold certification. In Indianapolis, Duke Realty Corp. reveals it grossed $218 million in the first quarter, taking the proceeds to ease pressures from near-term maturing debt. The National Gazette has more details.... .....HPI Real Estate Services retires construction debt for a 90,267-sf class AA office building in the 49-acre San Clemente at Davenport in Austin. In a 30-day spin, Holliday Fenoglio Fowler gets the three-year loan inked with ViewPoint Bank. Details on the Texas Roundup.

April 6, 2009 - Dallas-based 7-Eleven Inc. has finalized a master franchise agreement with Putraindonesia (PT.Modern) to raise its flag in Indonesia. The first 7-Eleven-branded outlets will open later this year in Jakarta, with Bandung, Semarang and Surabaya to follow in the coming years. PT.Modern is a retailer and manufacturer of photographic, electronic and telecommunications products with more than 1,000 outlets in Indonesia. PT will develop some new stores for 7-Eleven and convert some of its existing portfolio to establish the brand in the country.... ....New leases and new sales can be found on the D/FW Leasing page and National Gazette.

April 5, 2009 - The median per square foot home price in the Houston area fell 2 percent to $72.71 in 2008, from a year earlier, according to annual home price analysis commissioned by the Houston Chronicle. This was the first decline in 14 years, reported the Chronicle's Nancy Sarnoff. The study is conducted by Evert Crawford of Crawford Realty Advisors, in conjunction with the University of Houston's Institute for Regional Forecasting...... Pathfinder Energy Services has started construction on its technology center campus, which will have 225,000 sf of space on 25 acres on the Grand Parkway near Colonial Parkway in the Katy area, according to a report by Jennifer Dawson in the Houston Business Journal.

April 4, 2009 - CB Richard Ellis has been named to the BusinessWeek 50—that publication’s list of best performers across all industries—for the third year in a row. BusinessWeek annually selects 50 best-in-class companies that represent the top performers in each of the ten industry sectors that comprise the Standard & Poor’s 500. CBRE was ranked #25 on the 2009 list, and is the only commercial real estate company to earn a place on this year’s BusinessWeek 50. ... ... ACR Trucking has purchased four acres of industrial land in Channelview, east of Houston, according to Cushman & Wakefield. For More details please go to our Houston Deals page.

April 3, 2009 - Stream Realty Partners' industrial group has just gotten the keys to the 529,209-sf, three-building Mesquite Business Center, with marching orders to find tenants or buyers for the asset, owned by a Buchanan Street Partners-led joint venture. The Dallas/Fort Worth page has the details plus a new report by Foreclosure Listing Service showing commercial postings rose 50 percent since the year began…. …..The National Gazette features a new Fitch Ratings' report about REITs reaching a liquidity crossroads. On the property side, a 179-key convention center hotel hits the auction block in Oshkosh, Wis…. …..In the multifamily sector, an institutional owner of a 236-unit, class A asset in Southern California gets a break from Freddie Mac, securing a $22.1 million loan to retire debt right before it matures…. ….AMB earns Japan's highest ranking for a green project with the design of its 986,000-sf AMB Kasugai Distribution Center in the Akechi-Kasugai industrial area of Nagoya. Additional information about the project is in the International Gazette.

April 2, 2009 - In today's news, GWS Technologies and SEDCO are designing a template for green industrial parks, using 1,000 acres beside the Phoenix-Mesa Gateway Airport as the flagship spot. Also, CBRE and Panattoni ink a 17 million-sf management contract for office and industrial space in Sacramento and Orange County, Calif. Costco makes plans for a July 3 shutdown of pilot projects in Kirkland, Wash., and Tempe, Ariz. More details for all stories are in the National Gazette…. ….Dallas-based Trammell Crow Co. seats a new national healthcare leader. The Dallas/Fort Worth page has the story…. ….Elsewhere, CREW's deadline is April 30 to apply for one of 10 $10,000 scholarships in the organization's second year of giving. Details can be found on the Association News page…. ….At the international level, ProLogis discloses three leases that will fill 358,000 sf in Japan, with more details in the International Dispatch.

April 1, 2009 - Texas' shovel-ready stance is projected to attract at least $27 billion of the nation's $787 billion stimulus fund, a partner from Patton Boggs' Washington, D.C. office, says at a fireside chat of The Real Estate Council in Dallas. And if you're in real estate, he says there will be plenty to do. The Dallas/Fort Worth page provides more details.... .....Experts in the student housing sector are warily eyeing the fall, which they say will be a telling point as to whether or not the industry can live up to its recession-resistant reputation of the past. The Hendricks & Partners' report details the concerns in the Multifamily Magazine…. ….A 122,467-sf lease, in the marketplace since last fall, lands, allowing a third-party logistics firm to open a new shop for a Fortune 500 company. NAI Huff Partners and CB Richard Ellis seal the deal for CEVA Freight's expansion. Details on the Dallas/Fort Worth leasing page....

Ken Page, one of the top commercial real estate brokers in Houston, has joined the Grubb & Ellis firm. He formerly was with Cushman & Wakefield.

....On the national front, Dollar General unveils plans to add 450 stores in its 35 markets and create 4,000 jobs. Brandywine Realty Trust lands $89.2 million in a first mortgage loan, using the 702,006-sf Two Logan Square in Philadelphia as collateral. The retired loan was due to expire in July. Additional details for the stories are in the National Gazette.

March 31, 2009 - With up to 500 jobs in tow, Q-Edge has leased 365,440 sf in AllianceTexas, taking a sizable chunk of Nokia's dark space. The new employer's impact on the local economy is projected at $700 million. Additional details on the Dallas/Fort Worth page.... .....USAA and Seefried will build a 465,600-sf distribution center in Topeka's Central Crossing Commerce Park for Atlanta-based Home Depot Inc. as part of its distribution strategy shift. The build-to-suit will be ready to light in the fall. Additional information in the National Gazette as is a story about a historic 120-key asset in Downtown Seattle being re-branded to a Doubletree Hotel via a franchise license agreement.

March 30, 2009 - Thomas Properties Group, Lehman Brothers and CalSTRS move forward on a $292.5 million restructuring of a 3.5 million-sf class A office portfolio in Austin. Lehman's bankruptcy court cleared the plan last Wednesday, freeing the partners to repackage the debt, get out from under a soon-to-mature loan and refill the capital till for leasing and upgrades in the 10 office buildings. Lehman's retains its 50 percent share. More details on the Texas Roundup page.

March 28, 2009 -Texas is home to two of the nation's Top 10 logistics warehouse markets, according to Grubb & Ellis. A new report by the realty firm, identifies the nation’s top 10 logistics markets as Chicago ; Inland Empire , Calif. ; Atlanta ; Dallas/Fort Worth; Los Angeles ; north and central New Jersey ; east and central Pennsylvania ; Houston ; Columbus , Ohio ; and Indianapolis. The report states that at year-end 2008, the national average asking rental rates for logistic properties was $4.16 per square-foot per year triple net, 3 percent less than the cyclical peak of $4.29 in fourth quarter 2007. Tthe vacancy rate increased in 2008 to 11.7 percent. “Although market conditions are expected to soften over the next few quarters, when the economy slows, the demand for logistic space still tends to hold up well,” said Bob Bach, chief economist, Grubb & Ellis. “Manufacturers need to store excess inventories while their sales slow, in turn boosting demand for warehouse space.” In a related deal, Hillwood just announced a major lease at its Alliance Global Logistics Hub in Fort Worth. Please go to Dallas/Fort Worth News page for more details

March 27, 2009 - The multifamily market's revenue will drop 5 percent nationwide, on average, with some pockets of gloom plunging as much as 11 percent, says Greg Willett of M/PF YieldStar. With the first quarter drawing to a close, the best and the worst of Texas is detailed in the Multifamily Magazine.... ....Los Angeles-based Maguire Properties Inc. has put the finishing touches to the $22 million sale of an 86,000-sf headquarters building at 18581 Teller Ave. in Irvine, Calif., to Allergan Inc. The firm's headquarters lease was set to expire in 2011. Allergan assumed a $20 million mortgage, with Maguire registering$1.8 million of net gain, according to today's announcement.

March 26, 2009 - Wolff Cos., a Houston development firm led by David Wolff, is developing the 1,500-acre Gates Ranch in Washington County, northwest of Houston. Individual tracts, ranging from 20 to 30 acres, will be priced at approximately $20,000 per acre, according to an article by Jennifer Dawson of the Houston Business Journal.... ....Another Houston-based developer, Weingarten Realty Investors, puts two class A shopping centers on the market in New Mexico. Details in the National Gazette.... .....The Multifamily Magazine has the latest round of apartment sales in the nation.... .....Which developer has had 10 team members get LEED AP certification? The People Blog has the answer.

March 25, 2009 - Tulsa's second-largest apartment property sells for $11.5 million to an Omaha-based limited partnership. The Multifamily Magazine has the facts.... ....Ernest & Young polls the real estate industry to find out the Top 10 risks. The results are in the National Gazette.... ....Liberty Property Trust, bucking the rough capital waters, has gathered $317 million in six mortgage loans from several major life insurance companies. The collateral is five industrial portfolios and one office property. The Malvern, Pa.-based Liberty got a weighted interest rate of 7.1 percent, with half of the grand total in three-year floating-rate loans and the balance in fixed-rate mortgages with seven-year terms. The adjustable-rate packages include two one-year renewal options.... .....The Association News page has details about the fourth annual Texas Shoot-Out in Dallas.... ..... In Downtown Fort Worth, Starpoint Commercial Properties of Beverly Hills, Calif., buys 182,000 sf of retail and office space at The Tower, a mixed-use redevelopment that arose from the ashes of a tornado-damaged office high rise. Details on the Dallas/Fort Worth page.… …..Grubb & Ellis launches a Petroleum Services Group, hiring an industry expert who comes armed with a major account. More information on the People Blog.

March 24, 2009 - GIC Real Estate pays the $845 million balance to the $1.34 billion acquisition of ProLogis' operations in China and property fund interests in Japan. The Colorado-based developer also discloses the completion of other financial strategies in its de-leveraging strategies to weather this year and right-size the company. More information in the National Gazette.... .....Nordstrom Rack will open its first shop in Austin in the fall. The retailer has inked a 35,000-sf lease for Gateway Center in the northwest submarket. Additional details on the Texas Roundup page.

March 23, 2009 -JBG Cos. and Rockwood Capital LLC land $100.5 million of fresh capital from Helaba, getting enough to retire a maturing construction loan and funding through the stabilization period of the collateral, the 310,825-sf class A office building, 1101 K St. NW. Details in the National Gazette..... .....An unidentified international marketer of brand-name apparel has leased 151,000 sf at ProLogis Park 275 in Hebron, Ky. The distribution building, recently developed building by Aurora, Colo.-based ProLogis, is situated about 18 miles west of Cincinnati. ProLogis' market occupancy rises to 93 percent with the deal for the 1.9 million-sf, four-building park.

March 22, 2009 -Sustainability, energy efficiency and having a green operation are part of the mainstream of corporate goals today. Some of the sharpest minds and best experts will be gathering in Austin in May for a forum and extensive dialogue at the Corporate Sustainability Summit. Dave Hewitt, former chairman of BOMA International, is one of the driving forces behnd this event, to be held at the Austin Hilton. Expect to learn some new stuff, such as exactly what is a "green lease"?..Please go to our Texas Roundup page for more details about this conference.

March 21, 2009 -The threat of foreclosure is looming large, with the loss of employment the primary culprit in the crisis. According to a new national survey by Move Inc., 52 percent of Americans are concerned they or someone they know will face foreclosure in the next six to 12 months. Homeowners are not giving up easily, though. . Another new trend -- first-time homebuyers are coming out in droves because of softer prices and low mortgage interest rates. Move, Inc., is the leader in online real estate and operator of Realtor.com, the largest homes for sale website.
For more click to our Residential Topics page.

March 20, 2009 - Grubb & Ellis Healthcare REIT II has hit the streets with a blind-pool offering to raise $3.2 billion in the next two years for real estate acquisition, development and joint ventures. In its SEC filing, the REIT points to its parent's track record in the arena and the healthcare industry's potential for investment gain due in large part to the aging U.S. population. The play is focused on the South and West. SEC information is on the National Gazette page…. ….In Dallas/Fort Worth, Foreclosure Listing Service finds residential foreclosures climb 22 percent in the past month, falling just two shy of a record set in February 2008. Details on the Dallas/Fort Worth page…. ….In California, Bixby Land Co. seats a new leasing team for 400,000 sf in three shopping centers in Long Beach and one in Cerritos. More in the National Gazette.

March 19, 2009 - Jones Lang LaSalle's experts say the pace of decline is slowing worldwide, but all indicators for the health of the commercial markets are still pointing down. Can this week's debt cap bounce buoy confidence? JLL's Kenneth Rudy talks about the new report and the bounce. The full story is on the International Dispatch page.... ....Harvest Partners marks a milestone with its retail component in its $750 million Park Lane in far north Dallas. Dick's Sporting Goods and Nordstrom Rack are the first to open and more top-draw names aren't far behind. Some slight adjustments were necessary for the first phase due to the economy, but the developers have kept the plan pretty much on track. More details on the Dallas/Fort Worth page.... .....Greenbrier Hotel Corp. in White Sulphur Springs, W.Va. has filed a Chapter 11 bankruptcy and has found its bailout in an asst purchase agreement with Marriott Hotel Services Inc. The five-diamond resort's day-to-day operations aren't expected to be impacted by today's decisions. Greenbrier's parent, CSX Corp., reported it will provide $50 million for operations through an affiliate. The Marriott offer, expected to close this year, will pump $60 million to $130 million into the 721-key resort. Marriott gets the management reins and a seven-year window on its capital infusion. Still ahead, Greenbrier execs must clear union hurdles before the trade can be executed.

March 18, 2009 - Fannie Mae, working the refinancing pipeline, has released February numbers that show deal flow surpassed $41 billion for the month. The grand total is nearly three times the agency's volume in January and its largest stack of completed refinances in nearly a year.... ....Reliance Standard Life Insurance Co. will move its regional sales team March 27 to The Summit of Preston Trails. The inbound tenant's long-term lease wins a first-floor location in the class A office complex in far north Dallas. More deal details on the Dallas/Fort Worth page…. …. Also in Dallas today, Harvest Partners has a day of tours scheduled to show off its mixed-use project, Park Lane. The first retailer opens doors tomorrow and more lights go on this weekend.

March 17, 2009 - The League City community, southeast of Houston, is getting its first green building. -- the new headquarters of the Associated Credit Union of Texas. The 30,000 sf building will be the city’s first LEED-certified building, according to the Bay Area Houston Economic Partnership. The project is at the southeast corner of League City Parkway and Walker Street.

March 16, 2009 - RioCan Real Estate Investment Trust has closed on the $67.5 million purchase of six grocery-anchored properties, totaling 454,000 sf, in the greater Montreal area. A private investor kicked in on four properties in the 99.04-percent leased portfolio, getting a 50 percent buy-in and lowering RioCan's net purchase price to $47.5 million. The Toronto-based RioCan got additional capital by financing two centers for $13.8 million and plans to secure loans for the remaining four "shortly," according to the REIT's press release.... ....Aurora, Colo.-based ProLogis has secured bragging rights to a new lease: 136,000 sf for the one million-sf ProLogis Park Uzice along the D8 motorway in Prague. The new tenant for the sustainable-designed industrial park is only identified as being one of Europe's largest communications distributors…. ….In the U.S., Grubb & Ellis Co. has unveiled a new logo and motto as part of a re-branding effort, adding a bridge to symbolize its connection with clients' needs and the tagline, "From Insight to Results."

March 15, 2009 - Wal-Mart will open two Hispanic-targeted stores in Houston, according to a report in Financial Times' web site, FT.com. Scheduled to open are: a 143,000-sf Mas Club, patterned after Sam's Club and a 40,000-sf Supermercado de Walmart. The Superrmercado de Walmart will be located in a former Wal-Mart Neighborhood Market location, according to FT.com..

March 14, 2009 - Houston retail properties will remain an attractive option for investors in 2009, according to Marcus & Millichap. Despite modest job cuts, the Houston retail market is projected to weather the economic downturn this year, according to the 2009 National Retail Research Report by Marcus & Millichap .“The Houston retail market will remain an attractive option for investors due to the relative health of the local economy and the metro’s history of shallow contractions during previous recessions,” says Michael Hoffman, regional manager of the Houston office of Marcus & Millichap. “As REITs and institutions slow acquisition activity over the coming months, local buyers are expected to seek higher-end multi-tenant deals in core locations, which had been more difficult to obtain in recent years.” An estimated 4.4 million sf of retail space will be built in Houston in 2009.

March 13, 2009 - Doors swing open on another 275,000 sf in the Village at Allen. Details on Dallas/Fort Worth page…. ….Also in North Texas, Stream Realty Partners adds two powerbrokers to its Dallas/Fort Worth industrial team: Cannon Green and Jeff Jackson…. ….CB Richard Ellis is encouraging "lights-out" participation in its 300 offices and 2 billion-sf portfolio in an alliance with World Wildlife Fund's Earth Hour 2009, set for March 28 from 8:30 to 9:30 p.m., a symbolic gesture and call for action on climate change. CBRE has ticketed 180 buildings in Atlanta, Chicago, Las Vegas, Los Angeles, Miami, San Francisco and Nashville to shut off all non-essential lighting and equipment, but the list is expected to grow before the lights go out.

March 12, 2009 - ULI North Texas places Fort Worth in the spotlight, with Mayor Michael Moncrief talking about his city and its sustainable initiatives. What is underwriting Fort Worth's gains? Details on the Dallas/Fort Worth page....The Texas House of Representatives gets its version of SB 1221, which seeks to eliminate the pass-through provision from last year's revision to the tax code. Rep. Brian McCall places the call for reform. Texas Roundup has the details.....CB Richard Ellis is named to the 100 Best Corporate Citizens List, a compilation by Corporate Responsibility Officer magazine....After all these years, Chicago's iconic Sears Tower is being renamed in honor of a 140,000-sf new tenant, Willis Group Holdings, which said it got the space for $14.50 per sf and paid no extra cost for the naming rights. Details in the National Gazette. Also on that page, Norwegian car maker Think has eight states vying for its first U.S. plant, promising up to 900 jobs and a production line of 16,000 electric vehicles per year.....TIAA-CREF once again is named a 2009 Energy Star Partner of the Year by the U.S. Environmental Protection Agency. In update of its efforts, TIAA-CREF says it's lowered the energy intensity of its 43 million-sf portfolio by 3.6 percent.

March 11, 2009 HOUSTON -- The Interfin Cos. has announced the opening of two restaurants at Vintage Park -- Mia Bella Trattoria and Salata. Vintage Park was developed on 84 acres at the intersection of Louetta Road and Highway 249, Vintage Park features 500,000 sf of retail space in the 630-acre master planned community known as The Vintage........ CB Richard Ellis. has been named to the annual roster of the Most Admired Companies in the U.S. real estate industry complied by Fortune........The .EPA has awarded Transwestern a 2009 ENERGY STAR Sustained Excellence Award in recognition of its protecting the environment and increasing energy efficiency across its managed portfolio.... ....Jones Lang LaSalle earns a spot on the 100 Best Corporate Citizens List, a compilation by Corporate Responsibility Officer Magazine.

March 10, 2009 - HFF Inc. has made the watch list of the New York Stock Exchange, driving the company to prove there are brighter days ahead. In today's earnings call, shareholders and analysts are assured that HFF will be a survivor. On a brighter note, parts of Texas and Seattle are better than most as is all of Washington, D.C. Details in the National Gazette.... ....The Texas Association of Realtors issues an alert about several pending bills circulating in Austin's legislative circles. Of particular concern is a proposed real estate transfer tax, as outlined on the Residential Topics' page.... ....Aurora, Colo.-based ProLogis has bucked the slow lending environment, laying claim to $120 million of fresh capital in a 10-year loan with a major life insurance company. The financing, based on a 50 percent loan-to-value ratio, was secured on behalf of the ProLogis California Fund, using collateral from 11 industrial holdings in the LA Basin and Inland Empire. The international developer says proceeds will go to partially refinance a $176 million secured debt maturity to reset its expiration from this month until March 2010.... ....Austin makes the preferred list for Hilton Hotels Corp.'s new brand, Denizen Hotels. The new lifestyle brand targets globally conscious travelers with technology-rich and smart-in-design rooms. Additional details in the National Gazette.... ....Masco Builder Cabinet Group, with a five-year lease in hand, will relocate by month's end to 66,668 sf in Pinnacle Park off Interstate 30 in Dallas. Details on the Dallas/Fort Worth page.

March 9, 2009 - A new warehouse/office building is underway in Houston through a deal orchestrated by CB Richard Ellis.LKQ Best Automotive Corporation, a Chicago based supplier of quality recycled auto parts, has entered into an agreement with A.E.N. Farrell, L.P., dba TNRG, to construct a new 98,850 sfoffice/warehouse facility at the northwest corner of Aldine-Westfield and Farrell Rd. Bill Rudolf of CB Richard Ellis represented the Tenant and Steve Adkisson and Jim Nelson of TNRG represented the Landlord.... ....ProLogis and Costco Wholesale Japan have signed a 300,000-sf lease for the 1.3 million-sf ProLogis park Ichikawa I near Tokyo, marking the first lease ever for the Aurora, Colo.-based developer and the retailing giant. The building is a sustainable design with a precast-concrete seismic isolation system, solar-powered outdoor lighting and rainwater recycling system.... .....In Las Vegas, a law firm expands at Hughes Center. Details in the National Gazette.

March 8, 2009 - NEW YORK - Offering some ray of hope for change, Dallas-based Turner Construction Co.'s team of "Big Apple" experts is reporting that domestic commercial building construction costs have declined 5.77 percent in the past three months and dropped 2.59 percent in the past year. The decrease in construction spending has led to increased competition. According to the Turner Building Cost Index, strong activity in education, health care and public sectors and increased investment in green buildings for all categories are "sources of optimism as potential beneficiaries of the economic stimulus legislation."

March 6, 2009 - The North Texas CCIM Chapter is making plans for its first "Real Estate Week," sending out scouts for sponsors and volunteers. Based on feedback, 400 to 500 commercial real estate professionals are expected to attend. Keynote speakers are CCIM Institute president Mac McClure, Dallas Mayor Tom Leppert and Dr. Mark Dotzour, chief economist for Texas A&M University's Real Estate Center. More details on the Association News page.... ....Veterans Mark Ayers, Tim Brotherton and Edwin Yarbrough take the captain's wheel to establish roots in Charlotte for Boston-based CresaPartners. The trio, formerly with Jones Lang LaSalle/Staubach Co., will guide the rollout as CresaPartners' newest principals, adding a combined 40 years' experience to the international firm's professional lineup.... ....With the heavy weight of the economy hanging overhead, DebtX has two sales coming in March for $538 million of commercial loans, including real estate. The stacks came from the books of an FDIC receivership. The National Gazette has more details.

March 5, 2009 - Grubb & Ellis Healthcare REIT Inc. inks a sale-leaseback deal for four medical office buildings, totaling 185,000 sf, in Menomonee Falls, Milwaukee, Richfield and Mequon, Wis. All signs point to Aurora Health Care Inc. of Milwaukee as the seller. See the National Gazette.... ....Nokia Corp. is entrusting its 20 million-sf international portfolio to CB Richard Ellis, ending a six-month competition for the coveted assignment. The Los Angeles-based brokerage giant will provide transaction management, brokerage and lease administration for 380 properties in 60 countries in Europe, the Middle East, Africa, Asia and the Americas.... ....Evansville, Ind.-based Brake Supply Co. Inc. is revving up an expansion plan, buying a 78,000-sf industrial building to add more space and more jobs in Tarrant County. Story on the Dallas/Fort Worth page.... .....Part of Trenton Crossing's class A retail moves to the market. Underwriting the 182,201-sf block are long-term leases with Best Buy, OfficeMax and Kohl's in a regional pocket with customer draw from both sides of the border. Details on Texas Roundup.

March 4, 2009 - Moody's|economy.com tells a Dallas audience that Texas is only one of seven states along with Washington, D.C., that's held the recession at bay, but all are starting to feel the strain. Details on the Dallas/Fort Worth page.... ....Commercial real estate, suffering through its worst year in decades, has been cut a break with a proposed bill by Sen. Florence Shapiro, (R-Plano), to amend the business franchise tax, or as some call it, the margin tax. A House version and a sponsor will be put into place in the coming weeks before the state legislature. For more information, please go to our Dallas/Fort Worth page.

March 3, 2009 - Hines, the Houston-based real estate firm, has opened an office in Salt Lake City to explore investment and development opportunities in Utah. Dusty Harris will lead Hines' Utah operations. “We are delighted Hines has opened a development and investment office in downtown Salt Lake City. Our city is brimming with development potential, and Hines’ global mixed-use expertise will only enhance the quality of our growth,” commented Salt Lake City Mayor Ralph Becker.... .....With leasing in slow mode nationwide, ProLogis is spreading the word that it's filled 400,000 sf at ProLogis Park Ontario Airport in Southern California. The new tenant's name is being kept under wraps, but the landlord has reported a footwear designer, manufacturer and retailer has stepped up to take the remaining space in a recently completed 681,000-sf building. The six-building, 1.9 million-sf industrial park sits near Interstates 10 and 60 at the western edge of the Inland Empire and minutes from Ontario International Airport. In January, Safelite AutoGlass became the first tenant for the park's newest building by inking a 282,000-sf lease.

March 2, 2009 - Colonial Properties Trust converts 6,565 apartments in 19 properties into collateral for a $350 million loan, setting up a repurchase by Fannie Mae. Multi-Family Magazine has more details.... .....Sorenson Group Holdings LLC has acquired $701 million of FDIC commercial real estate loans from Diversified Business Strategies of Sandy, Utah. Texas, Arizona, Nevada, New Mexico and California all contain pieces of the mixed bag of assets tied to loans from two First National Banks that the FDIC shuttered last year in Reno, Nev., and Newport Beach, Calif. The Salt Lake City-based buyer has seated its affiliate, Sorenson Group, as the portfolio manager.

February 27, 2009 - The cost of building an alternative energy infrastructure will be enormous, according to Dr. Michelle Michot Foss, chief energy economist for the Center for Energy Economics at the University of Texas at Austin. And manufacturing the components of green energy will require the engagement of "brown jobs" -- such as the steel worker who helps to build windmills. Foss, speaking to The Houston Economics Club, also said the human element in generating greenhouses gases is actually very small and not a significant contributor to climate change.... .....A Jones Lang LaSalle team in Chicago launches an international search for a tenant or tenants for a 1.5 million-sf class A office and industrial campus, with a sticker value of $250 million. The marketing blitz, unlike others in the past, is directed at end users. The National Gazette has the details.... .....With health care as a major U.S. issue, one Texas city has inked a deal with new employer, UnitedHealth Group, which plans to retool a long-dark, 55,000-sf grocery store into a service center. More details on Texas Roundup.

February 26, 2009 - Dallas City Council gives its nod to a developer-neighborhood compromise that's been two years in the making. The new tool -- a form-based zoning ordinance -- will create more pedestrian-friendly urban neighborhoods, with an emphasis on key issues like open space and parking, particularly near transit-oriented developments. The Real Estate Council led the compromise initiative, drawing together the Dallas Homeowners League, Preservation Dallas, North Dallas Neighborhood Alliance and Old Oak Cliff Conservation League and the city-appointed forwardDallas! Development code advisory committee. "Because each party was willing to give and take, we were able to strike a balance that satisfies everyone," says Neal Sleeper, chairman of TREC's government affairs committee and president of Cityplace Co.... .... Also in today's news, BentleyForbes has put Cushman & Wakefield Inc. into the leasing slot for the 1.25 million-sf Bank of America Plaza, a piece of signature real estate at the "Main and Main" corner of North Avenue and Peachtree Street in Atlanta's Midtown. C&W senior director Lisa Dunavin will oversee marketing and leasing for the 55-story office tower. C&W leasing manager Bill Lynch will handle the landmark's day-to-day duties for the Los Angeles-based owner.

February 25, 2009 - Public Communications Services., a national provider of inmate telecommunications systems for correctional facilities, will establish its research and development and manufacturing facility at Hillwood’s Alliance Global Logistics Hub in Fort Worth. The new 18,726 sf location will serve as the company’s engineering and technology center. Details on the Dallas/FW page. .................. ...

Voicing more bad news than good about the economy, Dr. Bernard L. Weinstein believes the $787 billion stimulus package will help, but it clearly isn't the cure-all because of the way the payday package is stacked. And if you're in North Texas, he says "be glad" because it's faring far better than most parts of the country. Weinstein's parting sound bite: "Some say capitalism is dead. Capitalism isn't dead. Capitalism without failure is like religion without sin." Story on Dallas/FW page.

February 24, 2009 - Dallas-based Stream Realty Partners LP has opened its first office outside Texas, choosing Atlanta for the launch. Dallas broker Ben Hautt has been put in charge of building the business and putting Stream's business model to work in the Southeast. Details on the National Gazette page.... .... In other news, PrimeSource Mortgage Inc. has opened a new office in Plano, which will be led by Sandra Mabry.... ....Casey Storage, an affiliate of New York-based W.P. Carey & Co. LLC, and Harbert Management Corp. of Birmingham, Ala. are pulling their assets to form a $50 million joint venture to amass self-storage properties. Harbert will kick in $30 million and W.P. Carey is putting in the balance, seeding the JV with 13 properties that Casey Storage has acquired in the past two years. W.P. Carey will hold the management reins to what's in hand now and what's coming in future acquisitions..... Tom Lynch of CBRE has received an award from a Houston real estate organization. Please click to our Association News page for this and other news about realty groups, volunteerism and future meetings.

February 23, 2009 - . Dockwise USA, a transport service provider of large and heavy structures primarily to the oil and gas industry, has leased 20,666 sf of space at the Atrium at Park Ten at 16340 Park Ten Place in Houston’s Energy Corridor. Dockwise USA is currently located at 7906 N. Sam Houston Parkway W. and serves as the company’s U.S. headquarters. Dockwise was formed as a result of an acquisition between Wijsmuller Transport (a division of Heerema) and Dock Express Shipping (a division of Royal Vopak, formerly Van Ommeren). Both companies agreed to combine their interests to become the world's largest seagoing heavy transport shipping company. Wijsmuller had been based in IJmuiden and Dock Express in Rhoon, both in The Netherlands. Dockwise's corporate headquarters is located in Breda, The Netherland. Michael Sieger and Steve Hesse of CB Richard Ellis represented Dockside in the transaction. Doug Little of PM Realty represented the landlord, KBS Realty.... .... Now that the framework's in place, it's time to discuss the strategy for Stream Realty Partners' newest full-service platform, says Lance W. Taylor and Robin A. Smith, co-managing partners of the new retail division. The courtship has begun for assignments as well as professionals to join the Stream team. Full story on the Dallas/Fort Worth page. .

February 20, 2009 - Texas Tech University moves to the top of the class with the opening of the Charles Schwab Personal Financial Planning Technology Complex, which boasts the largest collection of professional software in any collegiate financial planning program in the U.S. The just-opened addition of the College of Human Sciences will be used by more than 300 students in the Division of Personal Financial Planning.

February 19, 2009 - The latest Commercial Real Estate Outlook by the National Association of Realtors has more dire news for the industry. Details are on the National Gazette page. ... A new JV, United Equity Ventures, will spend $600 million to $800 million to acquire up to 10,000 apartments from institutional lenders. The first deal closes within 60 days. The lead buyer talks about the plan on the Texas Roundup page. ... Transwestern Dallas gets a two million-sf leasing and management contract from Energy Future Holdings. Now, they're evaluating which 250,000 sf in the 1.2 million-sf Energy Plaza in Downtown Dallas will flow to the sublease market. Full story on the Dallas/FW page.

February 18, 2009 - Fuller Realty Partners bought a six-story, 135,000 sf office building on Houston's North Loop at 2600 North. Loop. The seller, Christus Health, was represented by Bob Parsley and Bill Byrd of Colliers International. Jay Kyle, also of Colliers International, represented Fuller. Christus Health recently relocated to another North Loop building. ... In other news, the start of a major expansion to Houston's toll road system has injected optimism into developers on Houston's northeast side. To see comments by the developer of the northeast's Fall Creek master-planned community, please go to our Residential Topics page. ....

Also, CB Richard Ellis, looking at the present and future, has shuffled its corporate team. With the change, Robert Sulentic becomes CFO and Jim Groch gets a new chief investment officer's post. Gil Borok resumes duties as executive vice president, chief accounting officer, and is named CFO of the Americas division. More details on People Blog. ... The Weitzman Group/Cencor Realty Services launch Cencor Solutions to develop a book of business with lenders shouldering distressed retail assets on their books. Details are on the Dallas/FW page.

February 17, 2009 - First-quarter foreclosure postings have blackened the skies in Central Texas, where four counties hold the lead over 15 others in the upper half of the state. A new report by Foreclosure Listing Service shows 21,227 notices were put into play this quarter in 19 counties, with Bastrop County's 66 percent spike leading the pack. More details on Texas Roundup.

February 16, 2009 - KPMG secures its future office needs with a 15-year lease for 260,000 sf of the 83-story Aon Center in Chicago. The direct lease swings into effect in August 2012. Details in the National Gazette. .......

Commercial real estate worldwide will be tested this year. Which countries will struggle the most? CB Richard Ellis answers the question in a new Global ViewPoints report on the International page. Stimulus packages and restructuring of financial systems aren't likely to fix commercial real estate's problems this year.

February 15, 2009 - Can't get enough real estate? A new national radio show is being launched this weekend by the National Association of Realtors. The show, hosted by Gil Gross, will have listener call-in questions, field reports and industry experts. The show will debut Sunday afternoon on 630 WGAL in Washinton, DC and be carried on satellite radio across the nation. Or listen online at www.RETradio.com.

February 13, 2009 - North Texas registers a new quarterly high in the number of residential properties in jeopardy from foreclosure – 13,259 year to date. If there's any comfort, the postings for the March 3 auctions in four counties have dropped 13 percent in the past 30 days. Full story on the Dallas/FW page. ......... In a solid win for the state of Oklahoma, Tampa, Fla.-based Spring Air Co. will breathe new life into a shuttered 351,000-sf manufacturing plant in the Durant Industrial Park. Spring's new mattress production center and its largest in the US will come on line in the summer, adding up to 300 jobs in the southeastern Oklahoma city. .......... A banking advisory firm, Sheshunoff and Co., finds Texas banks are holding up better than institutions in other states. Part of the credit goes to strict guidelines that have been in effect since the late 1980s, according to a just-released report assessing each Texas metro. Full story on the Texas Roundup page.

February 11, 2009 - CyrusOne is adding to data centers in Dallas/Fort Worth and Houston as business picks up due to increased reliance on technology in today's cost-conscious world. The Houston-based company now leases 310,000 sf in five buildings in Texas. Details on the Dallas/FW page. ......... The real estate industry has voiced support for the federal stimulus bill passed by the Senate. "The National Multi Housing Council (NMHC) and National Apartment Association (NAA) commend the Obama Administration for including commercial real estate in the Financial Stability Plan," the apartment groups said in a press release. The National Association of Realtors said the Senate stimulus bill was welcome because it "expands the homebuyer tax credit, an important housing component that will help shrink housing inventory, bring stability to home values and move the country closer to an economic recovery. "

February 10, 2009 - Historic Real Estate has announced several real estate projects in the Houston area with a build-out value of $1 billion. Included in the program is the WaterLights District on Highway 288 in Pearland, the Nano World Headquarters project in Pearland and the Penisula on Clear Lake waterfront residential community on the southeast side of Houston. For more detail please go to our Houston Deals page.

February 9, 2009 - SUGAR LAND…HE Capital, owner of 14141 Southwest Freeway, commonly known as the Unocal building, has announced plans for a $4 million renovation to the 515,000-sf, Class A office building and has retained Colvill Office Properties to lease and market the property. Chip Colvill and Michael Anderson of Colvill Office Properties will handle the assignment. The Lake Corporate Center is currently leased to Unocal/Chevron which is consolidating its operations to the Houston Central Business District. Goulas & Associates has been retained as the architect/designer for the planned improvements and Smith Commercial has been selected as the general contractor.

February 6, 2009 - Behringer Harvard is betting on the expertise of its industry-recognized executive team to be the drawing card for third-party contracts for its new platform, investment advisory services. Until now, the powerhouse team's real estate savvy has been used only in-house, resulting in a managed portfolio valued at $8 billion in solely owned and joint venture assets. Details on the Dallas/FW page.

February 5, 2009 - The Houston area's single-family home starts dropped 39 percent in the fourth quarter of 2008, compared to the fourth quarter of 2007, according to Metrostudy, a research firm led by Mike Inselmann. The Houston market had 4,201 starts in the fourth quarter and an annual total 26,223 starts for 2008. The annual starts represented a 30 percent decline from 2007. Consumer confidence is low and mortgages are more difficult to obtain as layoffs have been rippling through the local economy.

February 4, 2009 - Hilton Hotels Corp. has made it official, announcing plans to move the headquarters from Beverly Hills, Calif., to Fairfax County, Va. The plan is to pump at least $17 million into the move and create more than 300 full-time jobs within 36 months. The lease is still in the market, with several landlords jockeying for the win. More details on the National page.

February 3, 2009 - Transwestern has formed TRECAP Partners, an investment advisory company for pension funds, sovereign wealth funds, endowments and the like. The arrangement isn't exclusive, but the hope is it will become "an important client" just like Transwestern Investment Co. did after its launch 13 years ago. More details are on the Houston page.

...............................

On today's national scene, The Federal Reserve has tapped J.P. Morgan to be custodian of its Mortgage-Backed Securities purchase program, which has the capacity to buy up to $500 billion in MBS notes backed by Fannie Mae, Freddie Mac and Ginnie Mae.

The Federal Reserve, launching the program in early January, has packaged an all-star lineup of four investment managers to implement the MBS plan. Making the final cut are New York-based giants BlackRock Financial Management Inc. and Goldman Sachs Asset Management LP plus Newport Beach, Calif.-based Pacific Investment Management Co. LLC and Wellington Management Co. of Boston. Criteria for the competitively bid process were based on each institution's operational capacity, size and MBS experience.

"We are pleased to be able to support the efficient operation of the MBS program while at the same time minimizing operational and financial risks," said Conrad Kozak, CEO of J.P. Morgan Worldwide Securities Services in New York.

February 2, 2009 - Our sympathy to the family of long-time Houston broker Thad Hickman, who passed away suddenly. He was senior vice president in the industrial division of Grubb & Ellis and well-known in the real estate community.

February 1, 2009 - Houston Pavilions, a new multi-level, mixed-use development in downtown Houston, has retained CB Richard Ellis as the leasing agent for the development’s retail component. The landmark center recently opened the first phase of the 560,000 sf project with the grand opening of House of Blues which occupies 43,000 sf last October. Houston Pavilions is located downtown in the heart of the Inner Loop and occupies the four city blocks bounded by Main Street, Caroline, Polk and Dallas. The center has over 360,000 sf of retail space and is 60 percent leased. A development of William Denton and Geoffrey Jones, the $170-million, Houston Pavilions has a nine-story, 200,000-sf Pavilions Tower office on top of the retail levels. CBRE's Matt Keener of Houston and Bruce Kaplan of Chicago.

January 29, 2009 - Planned Community Developers, Ltd. (PCD) is moving ahead on the second and third phases of Lake Pointe Village – the retail component of Lake Pointe Town Center, the 190-acre mixed-use, lifestyle development located along the northwest intersection of Highway 6 and U.S. 59 in Sugar Land.

Scheduled for completion in the first quarter of 2009, phase two of the development will include the expansion of the existing Whole Foods-anchored shopping center and the addition of two freestanding buildings, providing room for an additional 43,539 sf of retail and restaurant tenants. Azuma Sushi & Robata Bar, Five Guys Burgers & Fries and Mission Burritos will all occupy space in this second phase.

The third phase will be comprised of two multi-tenant restaurant buildings situated along a waterfront boardwalk and will feature outdoor, patio seating on the lake. Combined the buildings will offer 20,107 sf of retail space. A third 10,000 sf building will also be constructed for medical/office use.

For the office sector, Jones Lang LaSalle has completed a major lease transaction in Chicago. For full story, please go to our National Items page.

January 28, 2009 – Washington-based Advanced H2O inks a 15-year lease for 313,040 sf at the Dallas Logistics Hub. The finished deal delivers the "first true lease" for the 6,000-acre development. Move-in is set for late spring. For the full story, please go to the Texas Roundup. .... In other news, Transwestern’s Houston headquarters today announced that for the third consecutive year it was named as one of the Best Companies to Work for in Texas. The program was created by the publishers of Texas Monthly, the Texas Association of Business (TAB) and The Society for Human Resource Management – Texas State Council, collectively known as Best Companies Group.

January 27, 2009 - Showing their Texas mettle, Fort Worth's commercial real estate professionals see bright spots of opportunity for this year despite the economy. Realistic, but optimistic, they hope to craft bargaining chips for leasing and acquisition coups from their open commercial space. The full story is on the Texas Roundup page.

January 21, 2009 - Hess Corp. has leased the entire Discovery Tower, a building under construction in downtown Houston. Hess will take 845,000 sf in the 29-story tower, developed by Trammell Crow at 1501 McKinney. Hess will relocate from Allen Center to the new building in 2011. Hess Corporation was represented by Vice Chairman Tim Relyea of Cushman & Wakefield. Senior Vice President John Pruitt and Senior Associate Cody Armbrister with CB Richard Ellis represented Trammell Crow Company and Principal.

January 20, 2009 DALLAS-- Officials with Staubach Retail Services announced plans to rebrand the 22-year-old firm as SRS Real Estate Partners. The firm will continue to focus on representation of retail real estate clients. Roger Staubach will remain on the SRS Real Estate Partners board and will remain an equity holder. Last June, Mr. Staubach announced he was selling The Staubach Co. to Jones Lang LaSalle, but Staubach Retail and Cypress Equities remained independent firms. The name change to SRS Real Estate Partners is designed to position the company for future growth in the real estate market and to provide clarity in the market as independent from Jones Lang LaSalle. SRS Real Estate Partners President, Clay Smith, will be promoted to CEO/President. Staubach Retail Services former CEO, Chris Maguire, will continue to serve on the SRS Real Estate Partners Board of Directors and will be an equity holder in the firm. Mr. Maguire will remain CEO of Cypress Equities.

January 19, 2009 - The ABB engineering firm leased 84,000 sf in the new Simmons Vedder building on Beltway 8, south of Richmond Avenue . Mike Boehler of Jones Lang LaSalle handled the deal... Editor's note: My colleague Steve Cook, a Washington communications pro, has joined with former National Association of Realtors economist David Lereah to create Reecon Advisory Report, which focused on residential markets. For more www.ReeconAdvisoryReport.com

January 17, 2009 - In a market where new-home sales have been generally down, Newland Communities has reported increased new-home sales in three Houston area communities for 2008. The largest increase was seen in Telfair, a 2,018-acre community in Sugar Land, where new-home sales were up 10.7 percent for 2008, compared to 2007. A total of 412 new homes were sold in Telfair last year, compared to 372 sold in 2007. For More: Residential Topics page..... In other news, CB Richard Ellis reported Houston's industrial vacancy rate rose 6.4 percent in the fourth quarter, from the prior quarter as a dip in oil prices and drilling activity bashed the market. For More: please go to the Houston Deals page.

January 16, 2009 Mr. Trammell Crow, a legend in real estate development, died Wednesday evening at his ranch near Tyler, Texas. He was 94. Mr. Crow's firm developed many significant projects around the world, including skyscrapers in his hometown of Dallas,and hotels, warehouses and other commercial developments. Mr. Crow's first project was a Dallas warehouse built after the end of World War II. In the early days, Mr. Crow conducted business on a handshake basis before his company became a worldwide giant and was later traded on the NYSE. The Crow company was purchased by CB Richard Ellis for $1.8 billion in 2006.

January 15, 2009 - Commercial mortgage-backed securities (CMBS) will be making a comeback, according to Mark Gibson, executive managing director of Holliday Fenoglio Fowler LP in Dallas. CMBS had been used to finance almost half of the nation's capital market realty investments in 2007. But CMBS deals almost ceased to exist in 2008. New methods of structuring CMBS financing are being created and will be available on the market in 2010, Gibson told the Dallas/Fort Worth Real Estate Research Forum luncheon. ... In other news, Verde Realty announced a major industrial deal in El Paso. For more on both of these stories please go to our Texas Roundup page.

January 14, 2009 - The North Texas commercial real estate market is bracing itself for a tough year. But veterans who lived through the 1980s and the RTC era are hanging on and looking for opportunities. Texas realty news veteran Connie Gore reports from the annual forecast meeting of the North Texas Commercial Association of Realtors at the Westin Galleria in Dallas. Please go to the Texas Roundup page for full story. ... In other news, the decline in December's retail sales is evidence of unemployment's impact, according to a new report by Richard F. Moody, chief economist for Austin-based Mission Residential LLC. "Declining earnings mean that there is simply little, if any, support for consumer spending," he wrote. "While a fiscal stimulus plan that includes tax cuts and increased spending on unemployment benefits and other types of social insurance may help mitigate the decline in consumer spending, real consumer spending is unlikely to post meaningful gains until late in 2009 at best."..... Kickerillo and Mischer’s V&W Partners, Ltd. announced that Harris County Commissioners Court accepted the conveyance of an 82 acre park, including a 40 acre lake, from within V&W’s 630-acre master planned mixed-use development known as The Vintage. The 82-acre property, located in Harris County Commissioner Jerry Eversole’s Precinct 4, is adjacent to Cypress Creek and is the centerpiece of what will eventually be a 148-acre nature park called the Kickerillo-Mischer Preserve.

January 13, 2009 - Austin leads Texas' major cities in retail center occupancy rate, according to the Weitzman Group. San Antonio holds second place with 90 percent occupancy in its 36 million sf of retail space. Dallas/Fort Worth and Houston are neck and neck with 88 percent occupancy rate. For the full story, written by Texas realty news veteran Connie Gore, please go to our Texas Roundup page.

January 11, 2009 - The newest - and emptiest - office building in downtown Houston has gained its first tenant and it is a significant one. A law firm, Sheehy, Serpe & Ware, P.C., has signed a lease for 28,009 sf, taking the top one and a half floors of the Houston Pavilions Office Tower. The nine-story 200,000-sf Pavilions building was just completed. The office building is part of the 560,000-sf Houston Pavilions mixed-use project, which covers a four-block site bordered by Main, Caroline, Dallas and Polk. Two other buildings are under construction in downtown by Hines and Trammell Crow, but those buildings won't be complete for more than a year. Eric Anderson and Greg Tilton of Transwestern represented the Pavilions owner. Chris Oliver and Trey Strake of Cushman & Wakefield represented the tenant.

January 9, 2009 - Talk about a sweet deal. Duke Realty has signed a candy company to be a huge tenant in the Grand Prairie community in the Dallas area. Farley's & Sathers Co. Inc., one of the top 25 candy manufacturers in the world, will use 1 million sf of distribution space leased from Duke. For more details please go to the Texas Roundup page.

January 8, 2009 - The 26-story Bank of America building in downtown Austin has received $44 million in refinancing funding, according to Holliday Fenoglio Fowler, which arranged the transaction. The property is owned by owned by a joint venture between Walton Street Capital and T. Stacy and Associates. HFF managing director Andy Scott and associate director Brandon Chavoya worked exclusively on behalf of the borrower in arranging the 30-month, adjustable-rate loan with CapitalSource Finance, LLC. Loan proceeds will facilitate future lease-up and fund capital improvement costs associated with the property. The partnership purchased the property in 2004 and plans to hold it for continued value creation and future development initiatives. The property includes the 261,609-sf Bank of America Building at 515 Congress, a vacant parking garage situated on a 0.34 acre land parcel, a 0.48 acre land parcel currently improved with a 90,000-sf vacant commercial building, and a 0.81 acre covered land parcel that is scheduled to be developed into a 1,150-space parking garage.

January 7, 2009 - The Houton office market will be softer in 2009 with more concessions for tenants, says Dan Bellow of Jones Lang LaSalle, which delivered a market update to the media Tuesday. But construction of new office space is slowing and the city has no massive glut of office space like the 1980s, says Richard Rudd, a capital markets specialist for the firm. Rudd is expecting a rebound to begin in late 2009 and continue in 2010.

January 6, 2009 - The Allen Group has relocated its corporate headquarters from San Diego to Dallas. The firm owns the 6,000-acre Dallas Logistics Hub, which is projected to be a major distribution facility. The site is near the crosshairs of three Interstate highways and has significant railroad service. The Allen Group is currently located in Chase Tower in downtown Dallas, but company executives plan to build a multi-tenant headquarters building at the Hub site. For full story, please go to the Texas Roundup page.

January 5, 2009 - Greystar Real Estate Partners has purchased JPI Management Services of Irving, Texas. The deal makes Greystar one of the largest multi-fam managers with 140,000 units.... In another deal, a 160-unit apartment complex near D/FW airport has been sold. For more on both of these deals please go to our Multi-Family Magazine page.

January 2, 2009 - The largest cities in Texas are considered to be some of the best places in the United States for investing in commercial real estate, according to a new report by the Grubb & Ellis realty firm. Austin, Dallas and Houston made it onto Grubb & Ellis Co.'s Top 10 investment picks for office, industrial and retail from 2009 to 2013. None of the Texas metros made the final cut for multi-housing market strengths. The Grubb & Ellis 2009 Global Real Estate Forecast paints a "challenging 2009" for commercial real estate, in general. But the Lone Star State shines brighter than most of the nation.

January 1, 2009 - A growing number of proposed real estate developments are being canceled. Financing is difficult to obtain even for developers with a strong track record. The latest proposed project to be erased is The Titan, a 25-story upscale condominium in the Uptown area of Houston, according to an article by Nancy Sarnoff of the Houston Chronicle. The 80-unit project was to have been built by Randall Davis on the site of a McDonald's on Post Oak Boulevard. High-rise condos seem to be particularly prone to cancellation. In Pearland, the Poag & McEwen proposed lifestyle center at Beltway 8 and Highway 288, has been scuttled and the 127 acres there are being marketed, according to a report by Jennifer Dawson in the Houston Business Journal. Staubach Retail is handling land sales at the Pearland site.

Winner: Best Website

RealtyNewsReport.com was named Winner Second Place in the Best Web Site Category in the National Association of Real Estate Editors Journalism Competition

Web site editor Ralph Bivins "has extensive print journalism experience in the real estate field, and it shows.”-- Judges' comments

...............................................................

PLEASE Click below for more daily blogging archives

- more Bivins Blog: real estate log

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Houston Association of Realtors:

Bob Hale, president and CEO of the Houston Association of Realtors, has been getting a lot of recognition in the media. Hale was recently named one of the most influential people in the nation's real estate business by Inman News. Hale's leadership of the association's web site, HAR.com, also received notice in the Houston Chronicle. HAR's web site offers listings in English, German, French, Spanish, Chinese, Vietnamese and Italian. An amazing 77 percent of home buyers now use the Internet to find a home. HAR.com had 3.7 million visitor sessions in July alone. For the month, people spent a total of 60 million minutes looking at real estate listings on HAR.com. The Houston association's web site is one of the best in the nation - it has won three national "best web site" awards. The Houston real estate community has a lot to brag about because it is sort of the Silicon Valley of real estate on the Internet. To read the Houston Chronicle story please go to www.chron.com/disp/story.mpl/business/4156006.html

RealtyNewsReport.com

RealtyNewsReport.com covers Texas and the Nation

Led by veteran Journalist Ralph Bivins, RealtyNews Report provides insights and items to prepare you for the changing marketplace.

Commercial Gateway

Spotlights Southeast

Houston Developments

A tour of Southeast Houston

and Bay Area developments

is being organized by the

Commercial Gateway

division of the Houston

Association of Realtors.

The event will be held

July 9 at Cullen's

Upscale American Grille,

11500 Space Center Blvd.

A number of business parks,

distribution centers,

and the Ellington Airport will

be featured in the program.

NAREE Names

Best Realty News

Winners of the Year

Mara Der Hovanesian

of BusinessWeek

magazine won the top prize

of best overall entry in the

National Association of

Real Estate Editors 59th

Annual Journalism Awards.

Der Hovanesian's story

uncovered a sex-for-mortgages

scandal in the home loan

industry.

Matt Valley of National Real

Estate Investor won top

prize for best commercial

real estate magazine.

Cyberhomes.com won the

best web site award.

For a complete list

of winners please

go to our

Association News

page.

***

Mayor White

Runs for Senate

Mayor Bill White of Houston

has announced plans to

run for U.S. Senate. White

has served as mayor since

2004. Among his accomplishments

is the creation of Discovery Green

park in downtown. White is

regarded as one of Houston's

best mayors in recent times.

RealtyNewsReport.com Editor Ralph

Bivins with Houston Mayor Bill White.

Housing Market

Near the Bottom

By Ralph Bivins

The decline in the

nation's housing market may

be nearing the bottom,

says economist Dr. Barton

Smith.

Home prices in Los Angeles

and Miami may have further

to fall, but further declines

will be moderate in most

of the nation, Smith said.

Home prices in Houston

have been flat. Smaller, older homes in Houston's

more distant suburbs have

suffered the worse, while

upscale homes in the Inner

Loop have generally gained

value.

A surge in foreclosures

could spread weakness

deeper into the market.

A slowdown in home starts

is keeping supply and demand

Last Updated: July 3, 2009