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April 27, 2023

Rockets Owner Tilman Fertitta Accidentally Spills Plans For $70M Practice Facility

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A $70M practice facility is being planned for Houston's Galleria area, billionaire Houston Rockets owner Tilman Fertitta said in what appeared to be an accidental admission during a press conference April 26.

Rockets Owner Tilman Fertitta Accidentally Spills Plans For $70M Practice Facility

“I really screwed up,” Fertitta said in a video Fox 26’s Mark Berman tweeted after Fertitta blurted out plans for the venue during a press event introducing new Rockets head coach Ime Udoka.After spilling the tea, Fertitta said he had hoped to make a formal announcement, adding the organization would like to have…

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Kiewit Engineering Expands Its Energy Corridor Lease By Another 100K SF

Kiewit Engineering Expands Its Energy Corridor Lease By Another 100K SF  

Kiewit Engineering Group expanded its lease in Energy Center I by more than 100K SF, bringing its total space to 277K SF and showing continued movement for West Houston’s office market.

Kiewit, a construction and engineering organization based in Omaha, Nebraska, first leased 171K SF in the building in 2020, GlobeSt reported. The new lease will accommodate the company’s growth, according to a news release. The expansion means Kiewit will occupy the majority of Energy Center I, a 334K SF…

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Transwestern Brings In Midwestern Chief As New President Of Real Estate Services

Transwestern Brings In Midwestern Chief As New President Of Real Estate Services  

Transwestern Real Estate Services President Tom Lawyer plans to retire at the end of the year and Greg Munson, executive managing director of the Midwest region, has been promoted to replace him.

Munson will oversee all of the operations of TRS, Houston-based Transwestern’s firm that focuses on advisory, consultancy and leasing for assets and tenants. Lawyer will stay with Transwestern through the end of 2023 to “ensure a seamless transition,” a news release said. Lawyer has been in…

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Retail’s New Normal Delivers New Wrinkles In Lease Terms, Negotiations

Retail’s New Normal Delivers New Wrinkles In Lease Terms, Negotiations  

Retail’s e-commerce and pandemic-charged shakedown has changed the tenant-landlord relationship.

Deals have gotten more complicated amid constricted cash flow and rising interest rates, while the scars of rent forbearance and payment disputes have landlords pushing for more stability in their leases, retail industry leaders said Tuesday at Bisnow's National Retail Conference at 1540 Broadway in Manhattan.

 

“It’s not just about great real estate, it's about great landlords,” said Taryn Brandes, the founder of retail brokerage and advisory firm Brand Urban. “Security and guarantee has been negotiated in a way that I've never, never seen before." Retail tenants hoping to sign new leases will increasingly find themselves…

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