Occidental's Woodlands, previously Anadarko of Houston Energy Corridor campuses sold in $565M de
The Howard Hughes Corp. (NYSE: HHC) announced Dec. 30 that it will be closing out 2019 with one of the largest office deals of the year. The company has agreed to pay $565 million to acquire two office towers in The Woodlands totaling 1.4 million square feet of Class A office space as well as a 17-building campus in the Energy Corridor from Houston-based Occidental Petroleum Corp. (NYSE: OXY). The 63-acre campus in the Energy Corridor, which formerly housed the corporate head
Dallas-based firm acquires Houston company in $298M deal
Dallas-based Arcosa Inc. (NYSE: ACA) is acquiring Houston-based Cherry Industries Inc. in a $298 million deal, according to a news release. Cherry, a company that produces natural and recycled aggregates, adds 12 Houston locations to Arcosa’s 19 locations in Texas. Cherry's natural aggregates business includes mining and processing of sand, including processing into stabilized materials by mixing with cement. Its recycled aggregates business includes crushing and recycling co
Commercial Real Estate Stocks are Surging.
Commercial Real Estate Sector Surges Among the sectors that began to show relative strength this week, the commercial real estate sector stands out. This sector had begun to lag behind the market since early November, but its moves over the past three days suggest that it may not remain that way for much longer. The chart above shows how State Street's SPDR S&P Real Estate ETF (XLRE) has more than doubled the S&P 500 performance over the past few trading sessions. With intere
Plans for Large Land Swath Include Spec, Build-to-Suit
HOUSTON—Stream Realty Partners has closed on 300 acres in west Houston to build Empire West Business Park, a class-A industrial development. Empire West has 5,000 feet of rare Interstate 10 and Highway 90 frontage with dedicated exits to Woods Road. The site is located outside the flood plain, has access to quality utilities, and its location in Brookshire and Waller County creates eligibility for aggressive tax abatements. “Based on years of research in this area, coupled wi
