*Only submakets with largest total sf are included.

For the complete report and a map, visit Grubb & Ellis.

Houston Multifamily Real Estate

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Sealy was chosen for the facility because it was located far enough off the coastline not to receive a direct Hurricane, yet located next to a I-10 a major interstate.

The five-story facility will be made of concrete and steel with a 180 foot diameter and will be able to withstand 300 MPH winds. The dome will house disaster recovery equipment, fuel, mobile banks, to assist financial institutions in case of a major natural disaster.

2/28/2010 – Houston Commercial Real Estate: Candlewood Suites started their Texas hotel expansion with three new Houston extended stay hotels. They have plans to open two more by the end of July. The current expansion plan calls for a total of 13 new extended stay hotels state wide by mid to late summer. These new additions will bring the Candlewood Suites brand’s holdings in Texas to a total of 50 hotels.

The first three hotels were opened in February and are located at 291 Kingwood Medical Dr. Kingwood, TX, 1300 East Blvd. Deer Park, TX and 2350 Gulf Freeway S. League City, TX. The other two Houston area hotels under development to be opened in late July are located at 9015 Broadway Pearland, Texas and 1020 Maxy Rd. Houston, Texas.

2/25/2010 – Sugar Land Commercial Real Estate Market News: Healthcare Trust of America Inc. recently entered into contract to purchase a 60,000 square foot Sugar Land Medical office building located at 15400 Southwest Fwy. S. The medical building was known as Sugar Land Medical Building II and was owned by Mission Cos. The contract had a purchase price of 12.4 million.

Healthcare Trust of America Inc. is buying the building because of the quality of the main tenant, Texas Children’s Health Center who has a lease on 83% of the building until 2019, and the facility’s proximity to three hospitals in Sugar Land.

The closing of this transaction will bring the REIT’s Texas portfolio to 965,000 square feet of medical related facilities. Adding a second building to its Houston portfolio that includes a 52,000 square foot Cypress Station Medical Office Building

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Ozburg-Hessey Logistics

2/21/2010 – Houston Commercial Real Estate Market News: Ozburn-Hessey Logistics is a full service 3PL providing supply chain management solutions including international and domestic transportation, warehousing, customs brokerage, freight forwarding and trade consulting services. Ozburn-Hessey recently signed a lease with Panattoni Development for 75,000 square feet in the Airtex Industrial Center located at 14810 North Fwy.

2/19/2010 – Houston Commercial Real Estate News: Allied Power Group, a gas turbine replacement parts and repair company, purchased a 70,000 square foot facility at 10131 Mills Road that it completed renovations on and moved into this January. The new facility allowed consolidation of its 7 facilities in Texas and Florida to one headquarters located in Houston, Texas. Allied Power Group was able to reduce costs by 2 million thanks to its facilities consolidation. Below you will find photos of the new location.

2/19/2010-Commercial Real Estate News: A Houston area based global engineering, construction and services company by the name of KBR recently signed the largest U.S. lease since 2008. KBR renewed its long term downtown office space lease in the KBR Tower and 500 Jefferson building. And then added another 234,000 square feet between the two buildings. Bringing the total square footage to 1.2 million square feet, which is the equivalent of a 50 story building. Solidifying KBR’s desire to remain at its Cullen Center Complex location it has called home for the last 20 years.

Brookfield Properties, who closed on a 16 property deal with JPMorgan Chase, stated that the lease renewal and expansion with KBR was a sign that the commercial real estate market is begining to strengthen as it makes its way out of the recent downturn.

These three buildings were the only Houston properties included in the 2.9 million square foot deal of 16 office properties across the U.S. It will be interesting to see if Brookfield chooses to change the name of the JPMorgan Chase building to gain local branding for their real estate firm.

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