By Grace Reader and Andrew Schnitker AUSTIN (KXAN) — Austin City Council approved an $88 million settlement agreement with LoneStar Holdings, the group that operates the airport’s South Terminal, for a lawsuit in Travis County District Court and another in federal court. The agreement allows Austin-Bergstrom International Airport the ability to move forward with its…
By Nathan Bernier The City of Austin should pay $90 million to evict the company running the South Terminal at Austin-Bergstrom International Airport, a panel of special commissioners ordered in Travis County Probate Court. The amount awarded by the special commissioners — three landowners with no stake in the deal who were appointed by a…
By John Wayne Ferguson More than five years after their homes and businesses were flooded, residents above the Addicks and Barker dams are learning how much money the federal government owes them for damage from Houston’s overflowing reservoirs. A federal judge last week ruled that the owners of six upstream properties flooded during Hurricane Harvey should collectively…
By Vinson & Elkins Law In a unanimous opinion issued on May 28, 2020, the Houston First Court of Appeals affirmed in all aspects a February 2018 jury verdict in favor of CC Telge. As referenced in the opinion, at trial, the State argued it owed compensation of $1.3 million and CC Telge requested $28.8 million…
By Paul Bubny with Connect Media Increased demand for suburban housing will support property values in the outlying sectors around Greater Houston and other Texas cities, said Houston-based valuation firm Deal Sikes. “Corporate workplace trends, such as working-from-home, have energized the suburban housing markets,” said Mark Sikes, principal with Deal Sikes. Even employees who will…
By The BISNOW Commercial property values in Houston should trend upward in 2020, as the region’s positive job growth will increase demand for development opportunities, according to Houston-based valuation firm Deal Sikes. “Houston’s commercial real estate values will be on a solid upswing in 2019,” Deal Sikes principal Matthew Deal said. “With Houston expected to gain population significantly…
By The DI Wire The creation of the new federal opportunity zone program is enhancing investor interest and placing upward pressure on property valuations in downtown Houston, according to the Deal Sikes property valuation firm. “Investors are gaining an understanding of the benefits and potential value of property owned in one of the new opportunity…
By Business Wire A jury has awarded a Houston property owner compensation of $12.2 million – almost four times the amount originally offered by the State of Texas – for the eminent domain taking of land for the construction of the Grand Parkway in north Houston, according to Deal Sikes, a Houston-based real estate valuation…
By Leaders in Law Lawyers from the Houston-based Vinson & Elkins recently won a unique eminent domain suit brought on by the State of Texas against a privately-held joint venture. Using the power of eminent domain, the Texas Department of Transportation (TxDOT) acquired the DiMare Fresh Produce cold storage warehouse on 3.9 acres at 1415 West Loop…
By Katherine Feser Houston’s rosier than expected job growth in 2017 has positioned the local real estate market to gain strength across the board, Houston-based real estate valuation firm Deal Sikes & Associates said in a report. The Houston region added 62,900 jobs last year, the Texas Workforce Commission reported in its revised annual data.…
By Dug Begley Jury rules in favor of Caldwell Companies against TxDOT in condemnation case Blazing a path through a forested watershed for the Grand Parkway will carry a heavy cost for state transportation officials, if a Harris County jury’s record award is upheld. The jury on Feb. 2 issued a $28.9 million verdict in…
By Ralph Bivins HOUSTON – How will Hurricane Harvey impact Houston’s real estate prices? It’s been almost two months since the Category 4 storm hit Texas and dropped 50 inches of rain on Houston. To know exactly how the storm impacted prices, we will have to wait until more flooded properties actually sell, says Houston…
HOUSTON–(BUSINESS WIRE)–Some Houston properties face the possibility of permanent market value losses in the wake of Hurricane Harvey, while other properties may actually benefit from the impact of the storm, according to Deal Sikes & Associates, a Houston-based real estate valuation and consulting firm. Hurricane Harvey inflicted an estimated $100 billion in property losses in…
By Dylan Baddour The commercial real estate market is boosting some property values while deflating others. Houston-based real estate valuation firm Deal Sikes and Associates reported Monday that varying conditions across the city’s submarkets and property types have created uneven changes in commercial property value over the last year. The firm said 57 percent of…
