Houston Office Buildings-Houston Office Space

April 22, 2010 Nancy Sarnoff: Houston Chronicle

http://blogs.chron.com/primeproperty/2010/04/downtown_building_goes_back_to_1.html

Downtown building goes back to lender

 

 

 

Downtown’s 919 Milam office building has gone back to its lender through a deed in lieu of foreclosure.

Chicago-based Transwestern Investment Co. bought the 723,000-square-foot building from Hines in 2007 for slightly more than $100 million, sources familiar with the deal said at the time.

The document cites a $97 million loan agreement dated September 26, 2007 with National City Bank, which was merged into PNC Bank.

Neither Transwestern’s Matthew Haley nor Fred Solomon, a spokesman for PNC, would comment.

An interesting rumor associated with this building is that Mexican billionaire — and richest person in the world — Carlos Slim may be interested in buying the note from the lender.

“We’re always looking at the possibility of buying properties,” Arturo Elías Ayub, spokesman for Carlos Slim, said recently. “For the moment, we haven’t bought anything.”

Meanwhile, a Galleria-area office building is also in distress.

It’s not in foreclosure, but “we do have problems with our lender,” Wells Fargo, said Dougal Cameron of Cameron Management, owner of the 350,000-square-foot 2000 St. James Place.

Indeed, Cameron put the property into Chapter 11 bankruptcy protection earlier this year, listing assets and liabilities of between $10,000,001 and $50 million.

Cameron Management bought the building from Coca Cola at the end of 2007 knowing that the tenant, Minute Maid, would be moving out a couple years later.

The company had the building LEED certified, but hasn’t been able to find a tenant.

“I’m still hopeful,” Cameron said. “We’ve got some things working, but it’s an empty building.”

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Houston Commercial Real Estate. Dynamo Select EADO (East Downtown) site for new stadium.

 The east end of downtown Houston was finally selected for the new Dynamo stadium. It seems that this deal bounced around like a ping-pong ball between Pearland and the Greenway Plaza area before finally ending up downtown. Here is a link from biznow.com that has some interesting information regarding the new sports stadium complex to be completed the first quarter of 2012.

http://www.bisnow.com/houston_commercial_real_estate_news_story.php?p=7976

Houston Site Acquisitions provides fast, friendly, free location service to Houston, Texas corporate tenants with our Houston office space, Houston warehouse space, retail space tenant representation services, Houston Commercial Real Estate real time lease and sales listings, and Houston commercial real estate corporate facility leasing management services including searching, finding, identifying, negotiating, and securing Houston commercial real estate corporate facility sites for lease. Houston Site Acquisitions assists corporate tenants with identifying various types of Houston Commercial Real Estate current real time listings / options for lease including Houston office space, Houston office buildings, Houston warehouse buildings, Houston office warehouse space, Houston distribution center space, Houston shopping centers, Houston sublease space, Houston lifestyle centers, Houston mall space for lease, Houston retail box space for lease, Houston warehouse Space, Houston retail Space, big box locations, Houston law firm space, school space, medical space, call center space, Houston technology center space, cell site acquisition, telephone data rooms, pad sites, and raw land for Houston build-to-suits. Additionally, Houston Site Acquisitions services corporate business expansions and rollouts throughout greater Houston and the entire Houston, Texas area. Houston Office Space, Houston Industrial Space, Houston Retail Space -Start Search & Submit Requirements On-Line 24-7.Houston Tenant Representation Company. Houston Tenant Representation Broker. Houston Commercial Broker. Houston Commercial Real Estate Broker. Houston Office Space. Office Space in Houston. Houston Office Lease. Houston Office Space Lease. Houston Office Space Leasing. Start Search 24-7 by filling out the on-line form. Free Location Service Citywide for Houston Office Space, Houston Industrial Space, Houston Warehouse Space and Houston Retail Space. Houston tenant representation company. Houston Tenant Representation Broker. Houston Commercial Broker. Houston Commercial Real Estate Broker. Houston Office Space. Office Space in Houston.Houston Office Lease. Houston Office Space Lease. Houston Office Space Leasing. Houston Office Space, Houston office space for lease, office space for lease Houston, Houston Commercial Real Estate, commercial real estate Houston, Houston Industrial Space, Industrial Space Houston, Houston warehouse space, Houston warehouse space for lease, Houston Retail Space, Retail Space Houston, Office Space in Houston, Industrial Space Houston, Houston Office Spaces, Houston Tenant Representation, Houston Real Estate, commercial office space Houston, Houston office space for rent, Houston office space rental, lease office space Houston, office space rental Houston, office space rental Houston, office space for rent Houston, office space for lease in Houston, office space for lease in Houston TX, office space for rent Houston TX, commercial real estate Houston TX, Houston commercial real estate for sale, Houston TX commercial real estate, Houston commercial real estate brokers, Houston commercial real estate companies. Start Search 24-7 by filling out the on-line form. Free Location Service Citywide for Houston Office Space, Houston Industrial Space, Houston Commercial Real Estate For Sale, Houston Warehouse Space and Houston Retail Space. Houston Site Acquisitions 312 Main Street, Houston, Texas 77002 Telephone: 713-789-8700