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Threats and Preparedness: Heightened Security Now a Top Priority for Building Owners

HOUSTON – (By Dale King) – The need for emergency preparedness and crisis management designed to protect humans and intellectual capital in commercial properties has spiraled upward in the modern era of evolving threats from natural and man-made sources. Facing a variety of dangers, from terror strikes and cyber-crimes to armed attacks inside and outside office and retail buildings, owners ... Read More »

How Hurricane Harvey Immediately Transformed Houston’s Apartment Market: Q&A with Teresa Guidotti Lowery of Colliers International

HOUSTON – Hurricane Harvey has upended Houston’s multifamily market. Just as the sector was recovering from years of overbuilding, the city incurred Harvey’s’ wrath. Harvey, which first made landfall in Texas as a Category 4 hurricane on Aug. 26 and then stalled over the Texas coast, broke all records to become the wettest tropical cyclone in the contiguous United States. Real estate research firm CoStar estimates that 
some 72,000 ... Read More »

Hurricane Harvey Wiped Out 3,000 Cars from Alamo, National and Enterprise Fleet

HOUSTON – Enterprise Holdings, the world’s largest car rental company, which owns the Enterprise, Alamo and National brands, announced approximately 3,000 of its vehicles destroyed or lost in the Hurricane Harvey flooding. The firm is rebooting, having already transported more than 4,000 rental cars and trucks into the Southeast Texas region, and anticipates bringing in 17,000 total before the end ... Read More »

Tilman Fertitta to Buy to Houston Rockets NBA Team

HOUSTON – Houston billionaire Tilman Fertitta, owner of the Landry’s restaurant chain and the Golden Nugget hotels and casinos, has agreed to but the Houston Rockets professional basketball team for $2.2 billion, the Houston Chronicle reports. Rockets owner Leslie Alexander announced several months ago that the NBA team was for sale. Fertitta, 60, is chairman of the Board of Regents ... Read More »

Back in Business: 77,500 Self Storage Units Reopened in Houston by Public Storage After Hurricane Harvey

HOUSTON – Public Storage announced Monday that all 115 of its self-storage properties previously closed due to severe weather conditions related to Hurricane Harvey have been reopened. The reopened properties cover 8.4 million SF and more than 77,500 storage units in the Houston and nearby  communities. In addition, Public Storage has opened its 116th facility in Houston, located at Highway ... Read More »

Hurricane May Create Rising Apartment Rents and a “Short-Term Housing Shortage” in Houston Apartment Market

HOUSTON – (By Dale King) – Hurricane Harvey will place upward pressure on apartment rents in Houston and move the city toward the possibility of a “short-term housing shortage” as thousands of multifamily units were damaged or destroyed, according to the Yardi Matrix multifamily data firm. The prevailing trends in many parts of the Houston apartment market have produced an ... Read More »

Eldridge Place Among the Energy Corridor Buildings Damaged by Harvey Flood Waters

HOUSTON – Office buildings in Energy Corridor district of west Houston have been facing high water in the aftermath Hurricane Harvey. Many streets in the Energy Corridor are flooded and evaluation of property damages  are not complete. Eldridge Place, a three-building, 825,000-SF office complex at the southwest corner of Memorial Drive and N. Eldridge Parkway in the Energy Corridor, has ... Read More »

Uncharted Waters: Flood Waters to Flow Over Addicks Dam Spillway in West Houston for the First Time

HOUSTON – For the first time, water will start flowing over the spillway of the Hurricane Harvey-pressured Addicks Dam near the Energy Corridor of Houston into Houston neighborhoods, according to Jeff Lindner, meteorologist with the Harris County Flood Control District. The “uncontrolled” flow of water over the spillway will contribute to flooding along Buffalo Bayou, which flows through downtown Houston ... Read More »

Aramco Building on West Loop to Be Leased by Lee & Associates

HOUSTON – Lee & Associates – Houston, a nationwide leader in commercial real estate services,  has been selected by Aramco Services Company,the U.S- based subsidiary of Saudi Aramco, to be the exclusive leasing agent of 9009 West Loop South, a 419,260-SF near the Bellaire community. Lee & Associates – Houston’s Lee Jeane, director, and Chris Lewis, managing principal, will lead ... Read More »

Colvill Office Properties to Handle Leasing of Beltway Lakes III

HOUSTON – Radler Enterprises has appointed Colvill Office Properties as its exclusive leasing agent at Beltway Lakes III, a Northwest Houston office building in the Beltway Lakes development located at the intersection of Beltway 8 and Highway 249. The nine-story, LEED Gold Certified office building features over 260,000 square feet of Class A office space. Brad Beasley and Cameron Colvill ... Read More »

Dallas Near Top of Worldwide Office Construction Boom

DALLAS – (By Dale King) – An “unprecedented office building boom” is now under way across the globe, with more than 700 million square feet of space now under construction; offices that should be completed by the end of 2019, reports Cushman & Wakefield’s Global Office Forecast. Dallas is at the forefront of the blitz. In fact, Big D “is projected ... Read More »

Houston’s Bullet Train Station Should Be in Downtown, Not Northwest Mall – Commentary

HOUSTON – (Commentary by Ralph Bivins) Houston is about to make a huge mistake with the development of its high-speed train to north Texas. The proposed Texas Central 200 mph rail line that will run from Houston to Dallas has a lot of good things about it. The train will be good for transit, good for the economy and it ... Read More »

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