Marcus & Millichap Houston highlightsMarcus & Millichap Houston highlightshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=72792013-05-29T14:35:00Z2013-05-29T00:00:00Z

HOUSTON - Marcus & Millichap's review of first quarter 2103 provided some highlights in Houston.

• Developers started construction on the $450 million River Oaks District, located inside the inner loop and about a half-mile from the Galleria. The project, with completion scheduled for late 2014, will include 270,000 sf of retail and restaurant space, 100,000 sf of office space, and 279 residential units.

• Construction on a new 3,924-acre master-planned commercial project near Lake Houston began in first quarter 2013. The project, dubbed Generation Park, is expected to welcome its first commercial tenants within the next 24 months and could become home to nearly 100,000 workers.

• About one-fifth of all apartments, or roughly 1,100 units, that came online in the last four quarters were delivered in The Woodlands. The community is one of the fastest-growing in the metro, and benefits from ExxonMobil’s expansion.

• Developers of the Grand Texas Theme Park are back on track, and initial plans for the $205 million project include four dining establishments, a hotel, a reception hall, as well as a water park and theme park. Work is expected to begin by this summer with a completion date in March 2015.

• Anadarko, Noble Energy and Southwestern Energy are relocating north and northwest of the metro. Additionally, Chevron will move 800 jobs to west Houston and Phillips 66 will build a new headquarters in Westchase.

Read more at Marcus & Millichap Real Estate Investment Services.

Marcus & Millichap Real Estate Investment Services
Houston-The Woodlands-Sugar Land
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