PHOENIX TOWER DOUBLING DOWN ON PARKING    
A new 8-story parking garage will be built next to the Phoenix Tower’s existing 8-story parking garage writes Ralph Bivins over at Realty News Report. The planned “garage annex,” he reports, “will adjoin Phoenix Tower’s original eight-story garage and also provide direct, covered access to The Hub,” the restaurant-heavy core of Greenway Plaza, between Buffalo Spdwy and Edloe St. Architect HOK has already signed up for the project, which the developer says should start before the end of the year. [Realty News Report] Photo: Parkway Properties
			




Ralph Bivins explains how it came to pass that the Canada Pension Plan Investment Board, with its now-completed purchase of REIT Parkway, became the owner of 8.7 million sq. ft. of office space in Houston, including Greenway Plaza, CityWest Place, San Felipe Plaza, the Phoenix Tower, and Post Oak Central: “At one time Cousins and Parkway were separate companies with sizable holdings in Houston. The Houston office market tanked when oil fell from a high of $107 a barrel in June 2014 to less than $30 a barrel in early 2016. Houston energy firms laid off thousands of employees and vacated huge chunks of office space. Publicly traded firms with significant portfolios of Houston office space were under pressure. Security analysts criticized them. 






“Someday,” antique dealer and appraiser David Lackey muses to intrepid radio reporter Allison Lee, “the Millennials . . . may be horrified when their children want mahogany furniture and doilies and figurines.” But for now, Lackey seems resigned to the 









