See the 10 largest blocks of sublease office space available in Houston

The 10 largest office blocks available for sublease in Houston are all on the market from energy companies. Of the top 10, Cushman & Wakefield is marketing the most with four, according to Commercial Gateway.

The 10 largest spaces available for sublease range from 189,285 square feet to 504,327 square feet, the latter being Four Westlake Park, which was put on the sublease market by BP last year.

Click to read more at Houston Business Journal. 

Why CBRE’s Jeff Ellerman believes DFW will benefit from growing U.S. corporate consolidation

As corporate America continues to consolidate operations in the United States, CBRE’s Jeff Ellerman says he believes Dallas-Fort Worth is well positioned to benefit from the restructuring trend.

“Consolidation from corporate America will most certainly continue,” Ellerman, vice chairman in CBRE’s Dallas office, told the Dallas Business Journal. “In my opinion, we’re going to continue to see relocations and large-scale needs coming out of other states into North Texas.

“Things don’t just happen with Toyota bringing their North American campus here; it happens over a longer period of time,” said the longtime Dallas real estate broker, who represents some of the companies rethinking their operations.

Click to read more at Dallas Business Journal. 

World’s largest bank to open first Houston office

China-based Industrial and Commercial Bank of China, the world’s largest bank with roughly $3.5 trillion in assets, plans Oct. 9 to open its first office in Houston, according to a release.

The office is located on the 51st floor of Williams Tower at 2800 Post Oak Blvd., a representative of the bank said in an email. The Houston office will be led by Jianzhong He, who will also serve as senior vice president.

ICBC also operates U.S. offices in New York, San Francisco, Los Angeles and Seattle. It’s the first China-based bank to open an office in Houston, according to a statement from the Greater Houston Partnership.

Click to read more at Houston Business Journal. 

Paper free and no assigned seats: CBRE debuts sleek, high-tech office in downtown Austin

CBRE Group Inc., the commercial real estate brokerage titan, has unveiled its new Austin headquarters and the results are sleek, uncluttered and high tech.

Located on the 17th floor of the new 500 West 2nd office skyscraper where Google Inc. just settledCBRE’s 22,000-square-foot space is designed for maximum efficiency with technology that follows a person from front door to computer to phone to copy machine. Employees can even book a conference room remotely using a mobile app.

Click to read more at Austin Business Journal. 

Israel-based plastics co. to base U.S. manufacturing operations in Houston

Israel-based plastics manufacturer Starplast signed a 181,540-square-foot industrial lease in north Houston, which will serve as the base of its U.S. manufacturing operations.

The lease is at 8111 FM 1960, a 250,660-square-foot building called Point North 8111, according to JLLRyan Fuselier and Travis Secor with JLL represented Starplast in the lease, and David Hudson of Duke Realty represented the landlord.

According to Duke Realty’s website, Point North 8111 is within the Point North Cargo Park near George Bush Intercontinental Airport and U.S. Highway 59.

Click to read more at Houston Business Journal. 

Investment group buys Allen building near $91M conference center

A Florida-based real estate investment firm has acquired a Class A office building adjacent to Allen’s soon-to-be built $91 million conference center hotel — which is slated to open next year.

The 150,506-square-foot office building along North Central Expressway, called One Allen Center, has sold for an undisclosed sum to Hallandale Beach, Florida-based Accesso Partners LLC.

An HFF team in Dallas brokered the deal. Real estate sources say the seller was New York City-based Investcorp.

Click to read more at Dallas Business Journal.