Tag Archives: HRA


Houston Realty Advisors Inc. has a new listing available FOR LEASE in Pasadena, TX. This property is located at 906 Witter St. it’s a Flex/ Warehouse/ Office Building. containing 13,450 Square Feet of Building.

For more information please contact us.

Commercial, Real Estate, HRA, Alex Ayres Photography, Pasadena

Photo of exterior and by Alex Ayres Photography

Alex Ayres Photography, Commercial listing, Pasadena, interior, offices

1 of the 7 offices on this Listing. Photo credit: Alex Ayres Photography

Alex Ayres Photography Privacy Gate

Privacy gate

Break room Alex Ayres Photography

Break room Photo credit: Alex Ayres Photography


Houston’s commercial property values will continue to trend upward in 2020 as demand for development opportunities expands amid the region’s positive job growth, according to Deal Sikes, a leading Houston-based valuation firm.

“Although there are a few exceptions, the real estate market in Houston is headed for another good year,” said Mark Sikes, principal with Deal Sikes. “The region’s economy is healthy and although the energy industry is in a lackluster period, the overall economic outlook is outstanding.”

Houston’s industrial market is attracting interest from around the nation and research indicates that more than 15 million square feet of warehouse space is under construction in the Greater Houston area.

“Prices for land or urban infill development property has risen significantly in recent years,” Sikes said. “Rising land prices have pushed the wave of industrial development farther away from the center of the city and outer suburban land prices have increased accordingly.”

Property values in the urban core of the city remain strong as developers and builders locate buildings for redevelopment or seek sites that are appropriate for new construction, Sikes said.

“Multifamily construction is strong in Houston and researchers report more than 25,000 units are now under construction, although the pace is expected to be slightly more moderate in 2020 as the new inventory is absorbed,” Sikes said. “Investor demand is good and multifamily valuations have not yet peaked in most submarkets.”

Newer office buildings and Class A towers under construction are leasing briskly, although Houston’s office market is the most sluggish sector.

The Texas Medical Center, where more than 100,000 people are employed, is a source of growth for Houston and several hospitals and research facilities are expanding.

“Houston’s commercial real estate values will be on a solid upswing in 2019,” said Matthew Deal, principal with Deal Sikes. “With Houston expected to gain population significantly in the next decade, the long-term forecast must include rising property prices that will be very impressive over the long haul.”


Memorial Hermann Health System, Houston’s largest health system, opened a new 17-floor critical care tower at its Texas Medical Center hospital.

Memorial Hermann-Texas Medical Center’s new tower, dubbed the Susan and Fayez Sarofim Pavilion, began accepting emergency room patients effective Feb. 20, according to a hospital spokesperson.

Susan and Fayez Sarofim, the billionaire behind Houston-based investment firm Fayez Sarofim & Co., donated $25 million for the project — the largest gift Memorial Hermann had ever received when it was announced in February 2018. The Sarofim Pavilion was part of a roughly $700 million renovation and expansion project at Memorial Hermann-Texas Medical Center, according to Memorial Hermann.

“The Sarofim Pavilion enables Memorial Hermann to stay ahead of the fast-growing advances in medicine, keep pace with the extraordinary growth of the greater Houston metropolitan region and, most importantly, meet the health needs of our community for years to come,” David Callender, president, and CEO of Memorial Hermann said in a news release.

The new 17-floor tower has more than 140 patient rooms; 24 operating rooms, including three hybrid ORs; a 335-seat cafeteria dubbed the Arboretum Café; and 900 new parking spots. Sarofim Pavilion also is the new home of the Red Duke Trauma Institute at Memorial Hermann-TMC — one of two adult Level 1 trauma centers in Houston.

Operations for Memorial Hermann’s air ambulance service, Life Flight, moved on top of the new tower. The new John S. Dunn Heliport is 10,000 square feet larger than the old helipad and is capable of handling the weight of a Black Hawk helicopter.

“As the Houston community is growing by leaps and bounds, the need for access to quality health care increases exponentially,” Susan Sarofim, chair of the Memorial Hermann Foundation board between 2015 and 2017, said in the release. “Memorial Hermann has stepped up to the plate to deliver a new facility with greatly increased patient capacity and state-of-the-art equipment. Fayez and I are so proud to support Memorial Hermann as the health system continues to deliver award-winning, innovative care to the Houston community.”

Construction began on the Memorial Hermann-TMC expansion in 2015. The building of Sarofim Pavilion took over 5,500 workers and 3.5 million man-hours, according to Memorial Hermann. Houston-based Vaughn Construction served as the project’s general contractor.


 

The boutique small real estate firms of Houston are now even smaller. Chicago-based Cushman & Wakefield purchased Colvill Office Properties and now more Houston local brokerage offices are being absorbed by the largest brokerage firms in the world. Chip Colvill, the founder and former president/CEO of Colvill Office Properties, joins Cushman & Wakefield as Executive Vice Chairman.


​​​​​Elite 25sm, the premier membership organization for luxury real estate agents, has announced its expansion in Spring 2020 with the launch of chapters in Houston and Dallas, Texas. Established in 1994 and based in Austin, Texas, Elite 25sm  represents a city’s top luxury residential agents, providing ample opportunities to increase exposure, bolster reputations, network with fellow top luxury agents and stay educated on real estate trends and happenings. Beyond the value for members, Elite 25sm also presents an incomparable asset for buyers and sellers, taking out the guesswork of finding an agent.

“We’re excited to bring this exclusive opportunity to luxury realtors in the largest real estate markets in Texas,” said Tony Trungale, Managing Director of Elite 25sm and a Senior Loan Officer with PNC Bank. “This organization has proven to be an invaluable resource for our members, allowing unmatched time and space for networking and dealmaking.”

Founding Elite 25​ Austin member Cindy Goldrick of Wilson & Goldrick Realtors said of the group: “I’ve been a member of Elite 25sm in Austin since its inception 25 years ago and it has been an essential part of my real estate career and success. Elite 25sm membership provides individual agents recognition as verified leading producers of high-end homes and, equally important, it offers camaraderie with other top agents and the opportunity to network. I’ve been excited and motivated to work to meet the criteria each and every year.”

Members apply on an annual basis and are chosen based solely on production numbers, ensuring a true representation of the city’s top professionals. Criteria for membership varies year to year, but eligibility begins with a minimum of four homes sold each over $1 million. In 2019, each of Austin’s 34 members sold at least eight homes over $1 million – a major marker of Austin’s booming housing market – for a staggering collective sales total exceeding $1 billion.

“In today’s fiercely competitive market, Elite 25sm is the perfect platform to provide a competitive edge for my clients,” said Dara Allen, Broker Associate and Sales Manager for Compass Austin. “All members of Elite 25sm are experts in the luxury market and our monthly luncheons – always in a member’s fabulous new listing – give us the opportunity to share coming soon and pocket listings.”

Elite 25​ Houston and Elite 25​ Dallas will continue under the leadership of Tony Trungale, with Advisory Board members to be announced. Marketing efforts will continue to be managed by Commission.Co, a boutique Austin-based agency specializing in social media, video, and design for luxury and commercial real estate.


Houston’s commercial property values will continue to trend upward in 2020 as demand for development opportunities expands amid the region’s positive job growth, according to Deal Sikes, a leading Houston-based valuation firm.

“Although there are a few exceptions, the real estate market in Houston is headed for another good year,” said Mark Sikes, a principal with Deal Sikes. “The region’s economy is healthy and although the energy industry is in a lackluster period, the overall economic outlook is outstanding.”

Houston’s industrial market is attracting interest from around the nation and research indicates that more than 15 million square feet of warehouse space are under construction in the Greater Houston area.

“Prices for land or urban infill development property has risen significantly in recent years,” Sikes said. “Rising land prices have pushed the wave of industrial development farther away from the center of the city and outer suburban land prices have increased accordingly.”

Property values in the urban core of the city remain strong as developers and builders locate buildings for redevelopment or seek sites that are appropriate for new construction, Sikes said.

“Multifamily construction is strong in Houston and researchers report more than 25,000 units are now under construction, although the pace is expected to be slightly more moderate in 2020 as the new inventory is absorbed,” Sikes said. “Investor demand is good and multifamily valuations have not yet peaked in most submarkets.”

Newer office buildings and Class A towers under construction are leasing briskly, although Houston’s office market is the most sluggish sector.

The Texas Medical Center, where more than 100,000 people are employed, is a source of growth for Houston and several hospitals and research facilities are expanding.

“Houston’s commercial real estate values will be on a solid upswing in 2019,” said Matthew Deal, a principal with Deal Sikes. “With Houston expected to gain population significantly in the next decade, the long-term forecast must include rising property prices that will be very impressive over the long haul.”


There’s a sophisticated new restaurant in one of downtown’s most prestigious buildings but you wouldn’t know it from the street. That’s because Adair Downtown is at the tunnel level, connected to Wells Fargo Plaza at 1000 Louisiana by the snaking system of underground pathways.

Quietly open for a few weeks, the restaurant is already being discovered by downtown office workers as a new dining destination with a slick menu that covers breakfast, lunch and after-work happy hour with a full bar offering wines and craft cocktails. Tenants of the 71-story tower — one of Houston’s premier Class A office buildings that is home to Wells Fargo Bank, PwC accounting, and top law firms – now have a handsome dining room with bar and patio to entertain clients.

“We are beyond thrilled to have Adair Downtown in the tower, and we are excited to offer this thoughtfully curated addition to our amenity base for our tenants,” said Marilyn Guion, senior vice president for CBRE, the commercial real estate firm that manages the building.

The building’s owners tapped Adair Concepts (Adair KitchenEloise Nichols Grill & Liquors, Skeeter’s Mesquite Grill, Los Tios Mexican Restaurants, Bebidas, and Betsy’s at Evelyn’s Park) to bring their restaurant know-how to the project designed by Gensler Architects and Houston-based McGarr Design & Interiors. The sophisticated, 4,628-square-foot buildout on the southeast corner of the tower may be at tunnel level but it is washed with natural light. The unusual construction takes advantage of an existing patio space that is accessible both from the street level, the tunnel system and the building’s lobby.

LOS TIOS ON TOP: Popular Tex-Mex restaurant opens beautiful new flagship restaurant in Tanglewood

The space includes a coffee bar clad in white subway tiles; a retail area with grab-and-go meals, fresh flowers, and upscale packaged foods; the main dining room with waiter service; a full bar; and a patio. The look is chic: walls of glass, marble and herringbone-patterned hardwood floors, antique mirrors, tufted banquettes, bistro tables, antique mirrors, and globe lighting fixtures. It’s a chic look (perfect for a power lunch) that looks plucked from River Oaks.

“It’s a tunnel restaurant that doesn’t feel like the tunnel,” said Nick Adair, who along with his sister, Katie Adair Barnhart, oversee operations for Adair Concepts. The partners describe the French bistro-looking space as “Eloise Nichols meets Adair Kitchen,” a nod to two of the hospitality company’s brands.

It is those brands that guide Adair Downtown’s food and beverage menus. Breakfast options include avocado toast, breakfast tacos, chicken and waffles, omelets, steel-cut oats with fresh berries, and breakfast bowls filled with rice, kale, sweet potatoes, black beans, avocado, and a poached egg. Lunch includes salads (kale and quinoa salad, Thai chopped salad, citrus Caesar) and bowls (superfoods bowl, tuna poke bowl) as well as lemon artichoke soup and tortilla soup. But there are also entrees such as grilled pesto salmon with cilantro rice; chicken paillard with arugula salad; New York strip steak sandwich on a baguette with peppercorn sauce; turkey club sandwich; and a classic beef burger and a veggie burger. The menu is overseen by executive chef Roberto Ozeata, culinary director for Adair Concepts.

After lunch, the space segues into its bar bites menu to pair with beer, wine, and spirits. The bar menu includes tuna tartare, cheese board, sliders, bruschetta, fried calamari, caramelized Brussels sprouts, fried asparagus with cilantro ranch, beef tenderloin crostini, guacamole and chips, hot chicken with house pickles, and meatballs with garlic bread.

The bar offers cocktails, an extensive collection of bourbon and scotch, wines by the glass ($11-$18) and bottle ($40-$178), and beer including local brews from 8th Wonder, Saint Arnold, and Karbach.

Barnhart said the company has longed to be part of the downtown dining scene. Adair Downtown, she said, offers office workers a place that can be both casual and artisan – “unique to what you’d expect from a downtown dining experience.”

Company founder Gary Adair said that his restaurant businesses were built on “being local and neighborhood-y.” Adair Downtown manages to bring that type of dining experience to a part of town not traditionally seen as local or part of a neighborhood, he added.

Adair Downtown, 1000 Louisiana; adairdowntown.com. Open Monday through Friday from 7 a.m. to 8 p.m. (serving breakfast 7 to 11 a.m.; full-service lunch 11 a.m. to 3 p.m.; full bar and bar bites 3 to 8 p.m.).

 


Cushman & Wakefield (NYSE: CWK) announced today that the firm has acquired Colvill Office Properties, a leading provider of office agency leasing services in Houston. Colvill Office Properties currently directs leasing and marketing efforts for 17 million square feet of Class-A office space in Houston.

“As one of the five largest metro areas in the U.S., Houston remains a critically important market for Cushman & Wakefield,” said Andrew McDonald, President of Cushman & Wakefield’s West Region. “Providing our clients with the most respected and accomplished office agency in Houston complements our investor services platform significantly in Texas. The Colvill team has a proven track record of creating exceptional value for their clients and shares our commitment to collaboration and innovation.”

The Colvill Office Properties team has more than 130 collective years of experience and is a four-time recipient of the Owner’s Representative of the Year award as voted by the Houston Office Leasing Broker’s Association (HOLBA). The Colvill current portfolio includes more than 30 individual properties in the CBD, Energy Corridor/Katy Freeway, Galleria/Uptown, Westchase, West Belt, Springwoods and Inner Loop submarkets.

“We could not be more thrilled to join one of the world’s pre-eminent commercial real estate firms,” said Chip Colvill, the founder and former president/CEO of Colvill Office Properties, who joins Cushman & Wakefield as Executive Vice Chairman. “The depth and breadth of Cushman & Wakefield’s global platform and the outstanding team already on the ground here in Houston will enable us to deliver even more value for our building owners, taking what we’ve built at Colvill over the last two decades to the next level with the Cushman & Wakefield international platform.”

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation, and other services.


Lee & Associates was awarded the leasing and management of five Houston office buildings totaling 430,000 square feet in 2019.

The company’s landlord agency team will lease and manage 550 Westcott (83,366 square feet); 4101 Interwood (80,000 square feet); 1505 S. Highway 6 (63,487 square feet); 16430 Park Ten Place (110,408 square feet) and 10101 Southwest Freeway (102,292 square feet).  The buildings range from Class A to Class B.

“Our recent success has been due to the depth of our team and the focus we have on technology and platforms for today’s digital marketplace,” Robert LaCour, Lee & Associates principal said in an announcement.

Lee & Associates added a property management group in 2019. The company specializes in commercial real estate services for office, industrial and land real estate investments


Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of The Shops at Champions, a 16,112-square foot retail property located in Houston, Texas, according to Ford Noe, Regional Manager of the firm’s Houston office.

Alex Wolansky and Gus Lagos, investment specialists in Marcus & Millichap’s Houston office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The buyer, a private investor, was secured and represented by Gus Lagos.

The Shops at Champions is located at 6265 Cypress Creek Parkway in Houston, Texas.

About Marcus & Millichap (NYSE: MMI)

With nearly 2000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,472 transactions in 2018 with a value of approximately $46.4 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors.