Like the rest of the neighborhing states, Houston has its highlights when it comes to real estate in 2015, a time when despite the slow growth in the job arena, it has attracted its own share of estate developers, investors and retailers.
How did Houston do last year? See the below list of achievements it has managed to accomplished, according to Chron, which shows a lot of promise as it greats 2016.
First Houston office purchase:
Equus Capital Partners affialiate acquired Comerica Bank, a building near U.S. 59 and South Dairy Ashford in Sugar Land from Parkway Properties. The acquisition of the building, which is 11-storey tall, signifies the entry into the local office market for Equus, with more than 24 million square feet in its portfolio.
First apartment purchases:
The Woodlands based Cypressbrook Co. bought the 326-unit Hunters Cove apartments at 1901 Palm Village Blvd. in the Bay City. It is targeting properties, specifically apartments, in places where rents are expected to climb.
Meahwhile, Strategic Capital, based in China, purchased Broadstone Post Oak and Chicago-based Waterton acquired Villas at Hermann Park at 6301 Almeda and Los Angeles based Omninet Capital bought the Hartford Park Apartments at 3939 Synott in southwest Houston followed by the purchase of Northwest Corners at 8520 Pitner in Spring Branch.
First Houston Locations:
ActiveRx, helping seniors with its national network of centers had opened a branch in Sugar Land with a 2,500-square-foot center.
Rama Cos added two restaurants in Park Place Memorial shopping center, Piada Italian Street Food and Express Rolls.
Tuesday Morning, meanwhile, opened a new prototype store layout in the Katy Ranch Crossing shopping center at Interstate 10 and Katy Fort Bend Road.
Donatos Pizza made an announcement to have an expansion in Texas early 2016 and identified The Woodlands and Katy as possible areas to consider.
First development in a while:
Wulfe & Co., already Houston based shared its plan on its first new developments since the recession. It will be located near the Woodlands Town Center and will be a two-level center with 58,000 square feet of office and retail space in three buildings.
First spec office project announced in 2015:
Everson Developments started building The Havenwood Office Park, a 250,000-square-foot building at 25700 Interstate 45 North in Spring near The Woodlands which is now near completion.
