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September 14, 2023

Energy Corridor Office High-Rise To Hit The Block At Foreclosure Auction
CRE Insights On The Woodlands, Conroe & Magnolia Next Thursday, Sept. 21

Pacific Life Insurance is moving to foreclose on a $70M loan backed by Four Westlake Park, a 588K SF office building in Houston's Energy Corridor.

Energy Corridor Office High-Rise To Hit The Block At Foreclosure Auction

The 20-story building is scheduled to be sold at auction Oct. 3, according to Harris County online foreclosure documents filed last week. The borrower that defaulted on the $70M loan is Four Westlake Owner, a limited liability company tied to Philadelphia-based Treeview Real Estate Advisors, the…

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Gerber Realty Names Founder’s Daughter As New President, CEO
Gerber Realty Names Founder’s Daughter As New President, CEO  

David Gerber is handing the reins of the Bellaire-based commercial real estate firm he founded 34 years ago over to his daughter, Melissa Gerber Brams.

Brams is now the president and CEO of Gerber Realty, though the 81-year-old Gerber is only semiretired, still extremely sharp and continues to work with clients, Brams told Bisnow in an interview. “I feel a tremendous amount of responsibility, but also a lot of excitement,” Brams said of taking over. She has…

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Another Labor Day Came And Went Without A Spike In Office Occupancy
Another Labor Day Came And Went Without A Spike In Office Occupancy  

For the fourth year in a row, the days after Labor Day were touted as a moment when a critical mass of workers would return to the office in far greater numbers.

This year, with millions of workers under new attendance mandates and more companies aggressively enforcing them, office buildings were expected to be repopulated to their most significant degree since March 2020. But once again, available data shows that the expected Labor Day bump was little more than a blip.

Office occupancy was at 47% of pre-pandemic levels for the week after Labor Day, according to Kastle Systems’ Back to Work Barometer, which measures the number of security badge swipes in its buildings across the 10 biggest U.S. cities. That was slightly down from the week before Labor Day,…

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Mattress Firm, Former Colliers Broker Finally Settle Dispute Over Alleged Bribery, Kickback Scheme
Mattress Firm, Former Colliers Broker Finally Settle Dispute Over Alleged Bribery, Kickback Scheme  

One of the world's largest mattress retailers has put to bed its lawsuit against two former executives and a former Colliers Atlanta retail broker after a six-year legal battle. 

Mattress Firm settled its legal saga against its former real estate heads Bruce Levy and Ryan Vinson, as well as its former retail broker Alex Deitch, after filing a lawsuit against the trio in 2017, claiming they steered the company toward high-priced real estate in exchange for developer kickbacks and other incentives…

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