Swamplot Archives by Tag: Commercial Real Estate

Friday, June 27, 2008

The Loneliest Doctor in Houston

June 27, 2008 – 9:51 am

River Oaks Physician Plaza

Medistar’s brand-new River Oaks Physician Plaza adjacent to the just-shuttered River Oaks Hospital has just one tenant, reports Monica Perin in today’s Houston Business Journal:

The 105,000-square-foot, five-story River Oaks Physician Plaza was intended to house offices for River Oaks Hospital physicians as well as a sports medicine center, sleep lab and an endoscopy and pain management center, all operated by River Oaks Hospital, which was originally set to lease space in the building. . . .

But, according to Dr. Leroy Sterling, a physician investor in River Oaks Hospital, there is currently only one tenant — a physician — in the building.

Colliers is now trying to lease the building to commercial tenants. Space is listed at $21 a square foot, triple net. The building has been renamed River Oaks Plaza.

Photo of River Oaks Physician Plaza: River Oaks Hospital

9:51 am | 1 Comment | Read more about Commercial Real Estate, Leasing, Medical Buildings, Neighborhoods: Greenway Plaza
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Thursday, June 26, 2008

White Oak Tower: It Was All Just a Bad Drawing

June 26, 2008 – 10:51 am

Sign on White Oak, Next to Onion Creek Coffee House

A post offering “a few notes of clarification” appears on the HAIF thread discussing the new sign on the property next to the Onion Creek Coffee House on White Oak:

a. The structure, as currently envisioned, will include first floor retail and parking, probably two floors of parking and six to seven floors of office/studio lease space. The top floor of the garage will be designed for an art gallery, or similar space, with the roof of the garage as outdoor terrace areas.

b. The project is in a very, very early design stage and will be a Class-A “green” structure with early 20th-century details. Equivalent-scaled structures might be the Lancaster downtown or The Plaza in Montrose.

c. Target tenants will be neighborhood small businesses and individuals currently doing business in homes, garages, guest rooms, etc…within walking or biking distance and not wanting a heavy commute routine.

d. Project is in commercial district and would only “border” the residential district of the Heights.

e. Since it is primarily an office building there are considerations for the parking to be utilized after-hours by the nighttime oriented buinesses nearby for off-street parking which would limit the intrusion of parking into residential areas.

f. This is the only information available at this time. Further postings will come in the near future.

Thank you for your interest.

Photo: HAIF user tmariar

10:51 am | 9 Comments | Read more about Commercial Real Estate, Highrises, Neighborhoods: Houston Heights, Proposed Developments, Real Estate Marketing
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Wednesday, June 25, 2008

Five Allen Center: Lifting the Shroud on a 50-Story Tower

June 25, 2008 – 12:57 pm

Proposed 5 Allen Center, HoustonThis hazy image of a new office tower planned for the northwest corner of Downtown, unveiled from the depths of the interwebs by HAIF user nate, is apparently meant to be the new Five Allen Center. It’s listed as a 1.2-million-sq.-ft. “near-term future development” in a Brookfield Properties document from this month.

A Brookfield executive described the project at a panel discussion on Downtown development earlier this year, according to a Houston Business Journal article by Jennifer Dawson a tipster alerted us to:

Brookfield is planning a 50-story office building on a 2.5-acre site west of 3 Allen Center, but will not begin construction until it is at least 50 percent leased, said Paul Layne, Brookfield’s executive vice president over the Houston region.

Layne predicted that by the time Brookfield’s all-glass, planned LEED Gold-certified building is finished, Class A rental rates downtown will be roughly $50 per square foot on a 10-year lease.

The project is referred to as the “Gateway Site” on Brookfield’s website:

A 2.5 acre parcel, the Gateway site would have a sky bridge connection to the Allen Center and unobstructed views to the west. The Gateway site is surrounded by historical parkland to the north, low-rise residential to the west and the Metropolitan Racquet Club garage to the south.

That looks like the northeast corner of Houston Ave. (the I-45 northbound feeder, at that point) and West Dallas.

Image: Brookfield Properties

12:57 pm | Add a Comment | Read more about Commercial Real Estate, Highrises, Neighborhoods: Downtown, Office Buildings, Proposed Developments
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Monday, June 23, 2008

More Discovery Tower Drawings Discovered

June 23, 2008 – 8:39 am

Discovery Tower, Downtown Houston

New drawings and details appear of Discovery Tower, the 30-story office building now under construction at the northwest corner of Discovery Green Downtown.

The wind turbines at the top of the building are still there. The brochure also mentions solar panels on the south face of the building, a green roof on top of the entrance pavilion, 2 stories of retail, as well as some old Houston favorites: 2 floors of underground parking (151 cars), and a 10-story, 1,350-space parking garage one block north, connected by . . . . an air-conditioned (phew!) skybridge!

After the jump, more green-hot Downtown tower architectural rendering porn!

Continue Reading This Story >

8:39 am | Add a Comment | Read more about Commercial Real Estate, Green Design and Development, Highrises, Neighborhoods: Downtown, New Construction, Office Buildings, Proposed Developments, Real Estate Marketing, Uncategorized
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Monday, June 9, 2008

Heaven on Earth Sells Again

June 9, 2008 – 6:14 pm

Former Holiday Inn, Days Inn, and Heaven on Earth Inn, St. Joseph Parkway at Travis, Downtown Houston

A reader points us to the latest rumor swirling around HAIF: The long-vacant, 31-story shuttered hotel on St. Joseph Pkwy. between Travis and Milam downtown finally sold . . . 3 weeks ago! To . . . somebody!

The hotel was built in 1971 as a Holiday Inn and later converted to a Days Inn. In 1992 an organization affiliated with the Maharishi Mahesh Yogi (yes, the one the Beatles consulted) purchased the by-then-rather-shabby structure for $2 million and renamed it the “Heaven on Earth Plaza Hotel.” The irony was not lost on city officials, who shut the building down in 1998; it’s remained (at least officially) vacant since.

If news of a sale sounds familiar, it should be. As Houston Press reporter Craig Malisow wrote last year in a feature on the Holiday Inn and two other vacant properties downtown, the hotel sold in 2004:

The Maharishi people sold it for $8.5 million to a group of investors that included a Colorado Springs outfit called LandCo. Michael Raider, a Houston native who works for LandCo, told the Houston Business Journal in 2005 that the property would be slated for apartments or condos.

Another LandCo guy, Don Nicholas, told the Houston Chronicle in 2004: “An ugly duckling downtown will become a swan.”

Unfortunately, the swan kicked the bucket when the investors defaulted on the $8.5 mill, and the hotel went back to the yogis.

Better luck this time?

Photo: arch-ive.org

6:14 pm | 3 Comments | Read more about Buying and Selling, Commercial Real Estate, Hazards, Hotels
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Thursday, May 29, 2008

Highland Village: Work Above Waterworks, Filling the Gap Gap

May 29, 2008 – 1:06 pm

Construction on Top of Waterworks, Highland Village Shopping Center, Houston

A reader who lives near the Highland Village Shopping Center reports that work on “the structure being built (so slowly) on top of Waterworks” at the corner of Drexel and Westheimer appears to have started up again, after a long period of nothing-going-on. Plus: he hears it’s going to be a French restaurant. Wasn’t last year’s rumor that it was going to be a wine bar?

And speaking of rumors, the same reader wants to know what’s going to happen on the opposite corner of the same intersection, where the Gap used to be:

I have hear that it will be either a 5 story boutique hotel or 2 story retail, and, as of a few weeks ago, that they would be deciding between retail vs hotel by mid May.

1:06 pm | Add a Comment | Read more about Commercial Real Estate, Hotels, Neighborhoods: Highland Village, New Construction, Proposed Developments, Redevelopment, Restaurants, Retail, Shopping Centers
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Wednesday, May 21, 2008

River Oaks Shopping Center Redo: Not Much of a Curve, but a Decent Wedge

May 21, 2008 – 2:50 pm

Rendering of Proposed River Oaks Shopping Center Building at Shepherd and West Gray, Houston

And here it is: Weingarten’s two-story replacement for the northwesternmost River Oaks Shopping Center building at West Gray and Shepherd the company tore down last year.

One goal of this design seems pretty clear: Build a wedge building that helps forge a split between the two tiny groups that might otherwise join together to raise a stink about Weingarten’s larger redevelopment plans for that shopping center, the River Oaks Theater across the street, and the Alabama Theater Shopping Center further south on Shepherd. Preservation-preferring sentimentalists, ready to grumble that this isn’t the curve you expected or the black-and-white Art Deco-ish look you wanted, say hello to your design-elite friends, who are already breathing a sigh of relief that the new building at least isn’t going to be fakey retro. No, it’s not the cleanest Modern thing they’ve seen, but they know it’s the closest they’re likely to get from Heights Venture Architects. Look, Ma! No cornice!

There’s no sense catering to that second group too much though, because Weingarten will need them to be somewhat dispirited so the rest of the strategy can work. No, this wasn’t the wedge we expected, but hey, it’ll do! And it’s sure to draw attention away from the parking garage. Now remind us why we wanted to save that theater again?

After the jump: Close-ups! Site plans! Come back, Jamba Juice — all is forgiven!

Continue Reading This Story >

2:50 pm | 3 Comments | Read more about Commercial Real Estate, Demolitions, Development Strategy, Historic Preservation, Houston Architects, Neighborhood Disputes, Neighborhoods: River Oaks, Proposed Developments, Redevelopment, Shopping Centers
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Monday, May 19, 2008

Secret Hines Tower: Land in Hand

May 19, 2008 – 7:56 am

Rendering of Proposed North Tower at Main and Texas Downtown Houston

Hines has “finalized the acquisition” of the Main Street block between Texas and Capitol Downtown, Nancy Sarnoff reports. That’s the site of the secret new 742,000-sq.-ft. office tower reported here a week and a half ago.

7:56 am | Add a Comment | Read more about Buying and Selling, Commercial Real Estate, Highrises, Land Sales, Neighborhoods: Downtown, Office Buildings, Proposed Developments
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Wednesday, May 14, 2008

The New Whole Foods at West Dallas and Waugh

May 14, 2008 – 9:18 am

Northwest Corner of West Dallas and Montrose, Houston

Whole Foods Market has just signed a 25-year lease with the Finger Companies for land at the northeast corner of West Dallas and Waugh in North Montrose. The company plans to build a new 50,000-sq.-ft. store there, reports the Chronicle’s Nancy Sarnoff. That’s the same size as the new Whole Foods that recently opened in Sugar Land, but the new Uptown store the company is planning as part of Boulevard Place will be 50 percent larger.

The North Montrose location is only a few blocks east of the site planned for Regent Square. And Finger has more ideas for the full 11 acres fronting West Dallas it bought from Knickerbocker Corp. earlier this year:

Plans for the site also call for 60,000 square feet of additional retail space and hundreds of apartments. The Finger Cos. will build a six-story, 445-unit multifamily complex on the property. Construction will start early next year.

A ring road will be created in the center of the development to tie into the AIG complex, located to the north of the site.

A future phase includes a high-rise apartment tower for the land closer to Montrose. Developer Marvy Finger said the building could be similar to his company’s 20-story Museum Tower on Montrose near the Museum District.

Photo of the corner of West Dallas and Montrose, proposed site of Finger highrise: Charles Kuffner

9:18 am | 6 Comments | Read more about Apartments, Commercial Real Estate, Land Development, Neighborhoods: Montrose, Neighborhoods: North Montrose, Proposed Developments, Retail
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Thursday, May 8, 2008

The Secret New Downtown Tower Hidden on the Web

May 8, 2008 – 9:30 am

Rendering of New Hines North Tower, Downtown Houston

The L-shaped glass building at the center of this drawing is apparently a new 742,000-square-foot office tower planned by Hines for the northeast corner of Main and Capitol Downtown. But Hines hasn’t officially announced it yet. Houston Architecture Info Forum user ChannelTwoNews found the drawing earlier this week — only a few days after it had been posted on the website of an engineering firm working on the project. Fellow forum user lockmat later spotted it again . . . in a Hines presentation from February posted on the Texas A&M Real Estate Center website. By the end of the day yesterday, the engineering firm’s site had been scrubbed of all information about the building.

The tower is planned for a corner most recently occupied by a languishing sales trailer for the appropriately named Shamrock Tower, and a full-size McDonald’s before that. At the far end of the block is the vacant Texas Tower, which the new Hines building appears to wrap around.

The drawing shows a view looking northwest. The tower looks like 28 or so office stories perched atop a parking garage of . . . maybe 10 levels? After the jump, a closeup . . . and an even closer-up, so you can count the floors for yourself.

Continue Reading This Story >

9:30 am | 2 Comments | Read more about Commercial Real Estate, Highrises, Neighborhoods: Downtown, Office Buildings, Proposed Developments
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Monday, April 28, 2008

Building Smaller, Building Green, Adapting, and Reusing: The Home Depot Way

April 28, 2008 – 7:18 pm

Site of Fallbrook Distribution Center, 8103 Fallbrook Dr., Houston

Just add punchline: If all goes as planned, Home Depot will soon be operating a LEED-certified distribution center just south of the Sam Houston Race Park in Northwest Houston.

Pennsylvania REIT Liberty Property Trust began constructing the enormous 535,000-square-foot Fallbrook Distribution Center at the southwest corner of Fallbrook Dr. and Fairbanks-North Houston on spec, and plans to submit it to the U.S. Green Building Council for core & shell certification. Home Depot will be leasing the entire facility.

But Home Depot wanted a few changes made . . .

Liberty Property . . . switched gears in the middle of construction to make the facility — originally planned as 615,000 square feet — smaller to suit the long-term tenant. “We disassembled the east side of the building and relocated tiltwall concrete panels to create a larger employee parking area,” [Liberty Property's Joe] Trinkle says. “We had to take apart the building to accommodate their need.”

The west side of the building was also disassembled and reconstructed in order to add a third loading dock, he says.

Gary Mabray, an industrial broker with Colliers International, says it is unusual for a construction project to undergo as many changes as this one did.

“That building was basically finished,” Mabray says. “They had to go back in and demolish slab and everything.”

Liberty Trust, a real estate investment trust, offered the tenant a build-to-suit option at another site so the building would not have to be converted, but Trinkle says the timing was off.

Photo of Fallbrook Distribution Center under construction: Liberty Property Trust

7:18 pm | Add a Comment | Read more about Commercial Real Estate, Green Design and Development, Industrial Properties, Neighborhoods: Northwest Houston, New Construction, Real Estate Marketing, Renovations
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Thursday, April 17, 2008

Corner of Hazard: The Fall of Martha Turner Properties

April 17, 2008 – 11:19 pm

Demolition of Former Martha Turner Properties Building, 1902 Westheimer Rd., Houston, April 17, 2008

Swamplot reader Buildergeek sends pictures from the demolition of the former Martha Turner Properties building at the corner of Westheimer and Hazard.

Whatever’s happening to the site, it sure doesn’t sound like what Nancy Sarnoff reported a year and a half ago in the Chronicle:

The old headquarters of Martha Turner Properties near River Oaks has been sold for the third time in as many years to a florist who plans to gut the property, add a floral showroom and lease out space to other businesses.

The owners of Plants ’n’ Petals, a 25-year-old flower shop located near Highland Village, purchased the former real estate office at 1902 Westheimer for an undisclosed amount. . . .

The renovations will include installing windows on the Westheimer-facing facade, gutting the interior and adding a mezzanine for offices.

The building will have about 12,000 square feet of space when it’s finished by the end of 2008.

After the jump: Clearly, the building was too close to the street!

Continue Reading This Story >

11:19 pm | 1 Comment | Read more about Commercial Real Estate, Demolitions, Hazards, Neighborhoods: Winlow Place, Proposed Developments, Streets
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Monday, March 31, 2008

Logos and Lines: Cypress Outlet Mall Reader Reports

March 31, 2008 – 5:46 pm

Houston Premium Outlets, Cypress, TX

Reader photos and reports from the Houston Premium Outlets opening on 290 last weekend:

I had heard somewhere that the mall was supposed to have a Southwest theme, but with all the logos plastered over the entrance towers, it looks like they might have been aiming for Early NASCAR. Aside from that, though, it’s a surprisingly nice place. Yeah, there were lots of people there, but once you get out of your car, the mall handles crowds well. It’s much nicer than a lot of Houston non-outlet malls, and a whole lot less cheesy or pretentious.

After the jump: those logo-festooned towers and more on-the-spot pix! Plus: Chicken Now: Here. Now!

Continue Reading This Story >

5:46 pm | 2 Comments | Read more about Commercial Real Estate, Malls, New Construction, Openings and Closings, Parking, Restaurants, Retail, Shopping Centers
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North Montrose and Memorial Heights: Look at Us Now

March 31, 2008 – 11:52 am

Alley Behind Townhomes Between Clay and W. Dallas, Houston

If you’re curious what the upper reaches of Montrose Blvd. look like from the viewpoint of an actual pedestrian, you’ll want to see blogger Charles Kuffner’s recent annotated photo walking tour of the area. Kuffner, who lived on Van Buren St. in the nineties, describes more recent developments on and around Montrose and Studemont — from West Gray north to Washington:

I did this partly to document what it looks like now - if you used to live there but haven’t seen it in awhile, you’ll be amazed - and partly to point out what I think can be done to make the eventual finished product better. . . .

My thesis is simple. This is already an incredibly densely developed corridor, and it’s going to get more so as the new high rise is built [see Swamplot's story here] and several parcels of now-empty land get sold and turned into something else. It’s already fairly pedestrian-friendly, but that needs to be improved. And for all the housing in that mile-long stretch of road, there’s not enough to do.

Kuffner’s guide is a Flickr photo set. You’ll get the most out of it if you view it as a slideshow with the captions turned on (on the link, click on Options in the lower right corner, then make sure Always Show Title and Description is checked).

After the jump: A few more photos from Kuffner’s tour, plus an ID on those new condos behind Pronto!

Continue Reading This Story >

11:52 am | Add a Comment | Read more about Apartments, Commercial Real Estate, Condos, Development Strategy, Neighborhoods: Memorial Heights, Neighborhoods: Montrose, New Construction: Residential, Redevelopment
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Friday, March 28, 2008

Borlenghi: Houstonians Unclear on the European Concept

March 28, 2008 – 11:34 am

Arturo’s Uptown Italiano Restaurant in Uptown Park, Houston

Interfin Companies president Giorgio Borlenghi, who developed Uptown Park and the Hotel Granduca, explains how it’s done:

. . . developers must not forget the principles we Houstonians like so much such as ease of access to the various components of the building and plentiful and readily available parking. As an example, when we planned Uptown Park, we decided to keep it exclusively retail to allow our patrons to park directly in front of the shops and restaurants without having to deal with multistory parking structures.

Keeping Uptown Park “exclusively retail,” of course, meant that his luxury hotel had to go across the street:

I created Hotel Granduca as a unique, elegant and extremely exclusive boutique hotel for the Uptown/Galleria area. I wanted it to be very different from all the other hotels: It had to feel very Italian, of course, and to have a true residential setting, so that it could be someone’s home away from home. What surprises me is that a number of people in Houston are still not understanding this very European concept and somehow think that Granduca is not a regular hotel, but some type of apartment building.

Photo of Arturo’s Uptown Italiano restaurant in Uptown Park: Flickr user heyjebbo

11:34 am | Add a Comment | Read more about Apartments, Commercial Real Estate, Development Strategy, Hotels, Mixed Use, Neighborhoods: Galleria, Parking, Real Estate Marketing, Retail, Shopping Centers
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