Newmark Adds 20 Appraisers to U.S. Valuation and Advisory Practice

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Stan Wolf, Newmark’s Pacific Northwest valuation practice leader, gathers with several new members of his Seattle team.

Newmark Knight Frank is ramping up further growth of its valuation and advisory practice, adding 20 appraisers and property specialists around the country, including the company’s offices in Seattle and Portland, Oregon.

In an expansion of its Washington, D.C.-based retail valuation practice led by Senior Managing Director…

7,582 SF Leased in Magnolia

 

Methodist Primary Care Group (a division of Houston Methodist Hospital) has leased 7,582 SF in the Magnolia Landmark Building at 18230 FM-1488 to operate a family medicine clinic with Dr. Edward Terrasson and Angele’ Applegate NP. It will also include a rotation of specialists to meet the growing needs of the local Magnolia area. The office is schedule to open in January 2019.

Methodist Primary Care Group was represented by Coy Davidson with Colliers and the Magnolia Landmark Building was represented by Ross Foldetta and Terrie Smith of Foldetta Commercial.

 

Major Financial Firm Moving Houston HQ From Galleria To West Houston

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UBS is relocating its Houston offices to Town Centre I in The Galleria.
UBS Wealth Management is packing up and moving out west. The financial services firm, based in Switzerland, will move its Houston officies from 5065 Westheimer Road to Town Centre I, 750 Town and Country Boulevard. The move away from The Galleria is the latest sign of west Houston’s ascendance in the office sector.

After years of office leasing being dragged by low oil prices…

Hanover Joins Hines in Pursuing Land Near Houston’s Buffalo Bayou

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Hanover Co. and Hines have both made moves to acquire development sites near Houston’s Buffalo Bayou Park.
Hines, one of the world’s largest developers, joined another real estate firm, Hanover Co., in moving toward building on land near Houston’s Buffalo Bayo

Recently Sold

Terrie SmithFoldetta Commercial’s Terrie Smith represented the Seller, CareTex Properties LLC in the sale of 466 Rayford  Road, a mixed-use development consisting of retail and storage units situated on 2.063 acres.   This is the second sales transaction for Foldetta  Commercial’s Terrie Smith on Rayford Road in 2018. 

Houston’s West Belt, Energy Corridor Office Demand Outpaces Metropolitan Area

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Three suburban office properties are under new ownership in one of the fastest-growing areas of metropolitan Houston over the past decade, helped by an expanding employment pool in the northern and western parts of the city and Interstate 10.

Dallas-based commercial brokerage Holliday Fenoglio Fowler sold the properties on behalf of the owner, MetroNational, a privately held real estate investment, development and management company based in…

Houston-based Transwestern, Canada’s Devencore Launch US-Canadian Partnership

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“We didn’t want to be sold to a public company. We send a lot of business to the U.S. We needed another partner.” –Rob Renaud, managing principal and broker of record for Devencore Realties Corp.

Houston-based Transwestern is teaming up with fellow commercial real estate firm Devencore, as the two private players strike a strategic alliance amid consolidating Canadian brokerages.

The deal will see no equity change hands, but the two companies…

Transwestern Hires Banking Veteran as First President of Commercial Services

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Houston-based Transwestern, one of the nation’s largest commercial real estate firms, has a new leader on board.

Thomas Lawyer was appointed president of Transwestern Commercial Services, a division that provides property management, consulting, agency leasing, occupier solutions and research services for various projects. In his new role, Lawyer will oversee the platform across Transwestern’s 35 U.S. offices.

Lawyer comes to Transwestern…

‘Major’ Oilfield Services Company Leases Entire 11-Story Building in Houston

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An unnamed “major oilfield services provider” signed a 17-year lease for a new headquarters at Enclave Place, taking all 11 floors of Piedmont Office Realty Trust’s newly constructed, 300,000-square-foot Class A office building located in Houston’s Energy Corridor on the western edge of the city.

“We are thrilled that Enclave Place has been chosen as the site for a new U.S. headquarters facility, and we look forward to welcoming the building’s…

Houston Projects Win Urban Land Institute Awards

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Two Houston real estate projects — Levy Park and Avenue Place/Avenue Terrace — have been selected as award winners by the Urban Land Institute.

Levy Park received the Open Space Award, which recognizes examples of “successful large- and small-scale public spaces that have socially enriched and revitalized the economy of their surrounding communities,” according to the Urban Land Institute, the international nonprofit research and education organization…