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CREguy13

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Everything posted by CREguy13

  1. CREguy13
    The last picture with Williams Tower in the distrance. Great shot.
  2. CREguy13
    I couldn't agree more, have had a few coffee meetings at Rossini and the entire project was so well done and a huge compliment to the neighborhood. I wouldn't be surprised if we saw more small boutique office buildings with the same high quality be proposed for the area. SFP is wonderfully done.
  3. CREguy13
    This is such a beautiful building. This will have such an effect on this side of downtown during the next building cycle.
  4. CREguy13
    Highly unlikely. They own both former Enron bulidings and lease about 1m SF in 1600 Smith and Two Allen.
  5. CREguy13
    The landlord of 723 Main had stopped all new leasing activity about a year ago. They've been trying to restructure this for sometime now. Really happy to see they found a great flag for the immediate area.
  6. CREguy13
    moved to corner of Welch and Revere. Up to 9 floors from 6. 33 units
  7. CREguy13
    Imagine the continued effect as 609 Main delivers next door.
  8. CREguy13
    I'm very excited for this project, but I think I'm more excited for the 'Hines' effect that will take place within a few blocks radius of here. There is a lot of surface lots nearby, that will likely be hitting the drawing boards soon if they haven't already. A lot of national law firms and high-credit tenants are trading papers on this building right now, in addition to United Airlines and Kirkland. These projects may be 5-7 years away, but the future is bright for downtown Houston.
  9. CREguy13
    That would be great, but Oxy restructured their lease for a long term so who knows whether they would hold the land. If Apache were to be acquired, Oxy may sell the land back to the original developer. This wouldn't necessarily be bad for BLVD Place and the area.
  10. CREguy13
    Maybe this has already been reported here, but I was told today that of the 31,000 SF of retail space there will be two restaurants (one high-end and one more americana) and a food market with about 18-20 different food vendors. There will be some additional space, but these seem to be certain. I think the food market will do really well in this area. Construction start is 8/16 with estimated completion 4Q 2017.
  11. CREguy13
    Obviously the flag is still being determined, but I would assume Ritz & Residences is of the 3. This seems to fit their profile and being connected to the Saks/Galleria Luxury wing makes sense. It's amazing how much this W. Alabama/Sage intersection as changed over the past 3 years.
  12. CREguy13
    I'm not sure who bought the land, but Midway's intention is to make this another City Centre type development. The office and residential component were just the first projects off the ground. If you look at the site you'll notice that a lot of the land surrounding Kirby Grove is very old and tired and likely will become attractive investments soon. Madison Place apartments just to the east of Levy Park are 40-50 years old and no longer work for this area of town. If you look at an aerial view you will see there is a lot of potential in the bounded area of Richmond, Kirby, US 59, and Buffalo Speedway.
  13. CREguy13
    This may have been already stated, but I would love to see them recreate the highline in NYC with the Pierce elevated. I imagine if they got the right design team and engineers, and with a private backer like the Kinder foundation, it could turn out to be incredible. I do support the continuity of downtown and midtown, but if you had a raised park that maybe came down to ground level to fuse into Buffalo Bayou park from the Post office and then elevate back up around the bend before coming back down to grade prior to 59. That could be transformational for Houston's urban green space
  14. CREguy13
    Construction costs really have not fallen as much as one might think, and the equity has pretty much all dried up for Houston MF at this point. I would be very surprised if Hanover was able to secure an equity provider, this definitely seems like a hold to me. Anything energy-related is a no no right now. We had a meeting at our office the other week and we talked about a developer who was recently trying to get financing for a larger-scale project. He did a control 'F' and deleted the word "Energy" throughout his entire proposal.
  15. CREguy13
    This has definitely been scrapped, but good to know that the owner/developer for that land has the appetite for a project of this scale. With it's exposure to the new superblock park, proximity to MATCH and Mid Main, I'd think this will still be a high-profile development even though we may have missed it for this cycle. I think we will see a lot fewer full-block apartment projects, and more high-rise/mid-rise developments that just take up a portion of the block (high-rise maybe full block). Land prices are pretty level right now, but once these new residences move-in and all the amenities fill out, it will be harder to make a Pearl Midtown, or Camden Midtown economical unless you really jack up the rents.
  16. CREguy13
    They will not start construction on the office component until they secure a lead tenant that will lease 50% of the building.
  17. CREguy13
    Chase tower - 1,656,529 Wells Fargo Plaza - 1,721,242
  18. CREguy13
    Well HTXUSA, I really enjoy your optimism then. I am in the commercial office market, and the last 12 months have been rough and 2016 will be worse from a transaction standpoint. Keep up the great attitude!
  19. CREguy13
    On the top floors of this project, you bet. This is going to be an incredible building, and the types of tenants that want to be here are the Kirkland Ellis's of the world - large national law firms that are used to paying these rents in SF, NYC, CHI, LA. Also we will likely see Large Institutional Banks, Investment Banks, PE groups, and possibly your Lead Tenant energy company (although that may be a little ways off).
  20. CREguy13
    It will be about $60.00/SF all-in
  21. CREguy13
    Checked the webcam and this building is already gone. That was fast.
  22. CREguy13
    Yeah we've got to stop acting like everything is still bursting at the seams and just because the city is diversified doesn't mean O&G isn't the driver. We can reference GHP and Mayor Parker, but it's their job to tout Houston in a way that is keeping investors interested. While there is still activity in the market, ask anyone in the industry, particularly office, and they will tell you it is getting bloody and will only get worse. 2016 will be BRUTAL from a commercial office standpoint. 2012-14 everyone was doing 10-year deals (contracting more space than they needed) and lead-tenanting new buildings, now everything is short-term, short-term, short-term and for less space. More new construction is delivering that is very little pre-leased or even 0% pre-leased and more subleases flood the market every week. It will ramp back up eventually, but right now some folks are really hurting.
  23. CREguy13
    I agree Greenstreet is important, but I'm not sure why you're so certain the area of North Downtown couldn't support a lot of retail.
  24. CREguy13
    I don't agree with this at all. The organic growth that is occurring around Market Square could be a hotbed for retail in future years. I love all the initiatives the city is taking with what they're trying to do with Dallas St., but I personally have always been a proponent of the invisible hand of the market. I would rather walk out my front door and have everything within a few blocks walking distance rather than walk several blocks to the center of CBD. I hope I'm wrong, but I really don't think Greenstreet and Dallas St. will work as quickly as most HAIFers want it to. I think it will continue to lease to entertainment venues and restaurants because that is the demand for the surrounding population of the project.
  25. CREguy13
    Although that is ROCC straight ahead and not Memorial Park, this picture reminds me how important of an asset the park is to this city. To have this large of a public greenspace in the heart of the town is pretty awesome. I'm excited to see all of the bordering areas continue to develop over the years and make MP even more desirable.
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