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November 14, 2023

Walkable 10-Block Mixed-Use District Coming To Houston’s EaDo

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A joint venture between Pagewood and Wile Interests unveiled plans to transform a collection of mid-20th-century warehouses into a contiguous 10-block mixed-use development called East Blocks in Houston’s East Downtown.

Walkable 10-Block Mixed-Use District Coming To Houston’s EaDo

The two Houston-based real estate owners, operators and developers will turn the neighborhood of warehouses beginning at McKinney and Hutchins streets into a district of walkable restaurants, shops, offices and green space, the joint venture announced. “We know EaDo deserves a dynamic destination with a unique mix of the best…

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This Week's Houston Deal Sheet: Stephens Expands Greenway Plaza Lease

This Week's Houston Deal Sheet: Stephens Expands Greenway Plaza Lease  

Stephens Insurance renewed and expanded its lease at 9 Greenway Plaza in Houston.

The privately owned insurance brokerage and its affiliated entities Stephens Inc. and Stephens Investment Management Group have increased office space to 35K SF, with plans to occupy a full floor and a half. 

JLL’s Don King and Anya Marmuscak represented the tenant. Parkway Properties’ J.P. Hutcheson and Amanda Nebel represented the landlord.  “I'm excited to announce that Stephens will maintain its Houston headquarters at Greenway Plaza — a location that approximately 50 employees call home,” Stephens Insurance President and CEO Miles Stephens said in…

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New Renter Demands Spark Developers' Strategic Shifts

PRESENTED BY:   Kahler Slater
 
New Renter Demands Spark Developers' Strategic Shifts  

Every multifamily market has its own nuanced needs and particularities. Yet developers are noticing commonalities among urban and suburban markets: the desire for community, amenities and flexible space.  Renters continue to spend more time at home due to remote and hybrid work arrangements, and they are on the hunt for highly amenitized…

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The 'Godfather' Of Life Sciences Real Estate Faces The Sector's Sharpest Downturn Yet

The 'Godfather' Of Life Sciences Real Estate Faces The Sector's Sharpest Downturn Yet  

Joel Marcus walked into the Downtown Los Angeles office of investment giant AEW on Sept. 9, 1996, unsure how much longer his business would survive.

The co-founders of Alexandria Real Estate Equities were running out of money, and they were trying to pitch an idea that had no proof of success: building a company focused on owning lab properties and leasing them to firms in the emerging biotech industry.

Despite the potential upside of Marcus’ pitch — biotech was just beginning to address the thousands of known diseases with no cure — he was rejected by the first 29 investors.

Entering his 30th meeting, Marcus could tell co-founder Jerry Sudarsky was growing weary. But the Air Force veteran remembers feeling confident as he ran through his talking points. 

The pitch worked: AEW agreed to invest $27.5M in Alexandria's Series B round. After shaking hands and walking out of AEW's conference room, Marcus knew the firm would make it to the next stage of his grand plan: going public.  “That Series B was really the key,” he told Bisnow in…

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