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Tag Archives: CBRE

Spire to Sell Chase Tower in Austin for Anticipated $200 Million

AUSTIN – Dallas-based Spire Realty has retained CBRE to sell its 390,000-SF Chase Tower in downtown Austin. The tower, which is 99 percent leased, could attract offers of more than $200 million or about $514 per SF, according to Real Estate Alert. The 22-story building, located on West 6th Street, houses the Headliners Club on the 21st floor. Spire acquired ... Read More »

CBRE: Warehouse Construction Completions Huge in Third Quarter

HOUSTON – CBRE reports 6.4 million SF of industrial space was delivered in the third quarter and a significant amount remains under construction. Some 7.5 million SF of industrial space is currently in development, with 4.4 million SF of the construction activity centered in the Southeast Houston submarket. Even with the addition of the new space, the vacancy rate remains ... Read More »

CBRE: Record High Occupancy in Houston Retail Centers

HOUSTON – The market for retail center real estate is strong in Houston, with high occupancy rates and a brisk pace of leasing up new space, according to the CBRE Research. “The trend of record high occupancy continues across Houston; the average occupancy increased to 94.3 percent in the third quarter of 2016. Occupancy levels will remain at this level due to ... Read More »

CBRE: Texas Retailers Scored A+ on Back to School Shopping

(By Dale King) When it comes to back-to-school shopping, the Texas, Oklahoma and Arkansas triad packs more dollar-for-dollar wallop than most other parts of the USA, says a report prepared by SmartAsset, a web-based consumer financial information service provider. “Because of the region’s relatively low cost of living coupled with healthy median incomes, shoppers have the added bonus of stretching ... Read More »

Texas Triangle: Over 13 Million SF of Office Space Under Construction

THE TEXAS TRIANGLE – More than 13 million square feet of office space is under construction in the Texas Triangle —Austin, Dallas-Fort Worth and Houston, according to a new report by CBRE Research. The Texas Triangle report said the Dallas/Fort Worth market leads the state with 7.5 million square feet of new office projects under construction, followed by Houston with ... Read More »

Travis County Seeking Developer Proposals for Prime City Block in Downtown Austin

AUSTIN – The Travis County government in Austin, represented by CBRE, is soliciting development proposals for a full block in downtown Austin. The site, at 308 Guadalupe Street, is bounded by Third and Fourth Streets to the south and north, and Guadalupe and San Antonio Streets to the east and west. The block is catty-cornered from the W Hotel and ... Read More »

Pokemon GO: a Blessing or a Curse for Real Estate?

(By Dale King) If you haven’t played Pokémon GO, or, worse, if you haven’t heard of the game that’s turned a ‘90s-era Japanese cartoon figure into a 21st century cyber-adventurer, you probably haven’t spent enough dawdling time on your iPhone or Android. The original Pokémon, a yellow, impish figure with rabbit-like ears, a cherubic face and a zig-zag tail, returned ... Read More »

CBRE: 42 Percent Job Growth Creates Demand for Medical Office Space in Houston

HOUSTON – More than 600,000 SF of medical office space will be completed and delivered in the Houston area over the next year, as developers respond to growing medical employment growth, according to CBRE. CBRE Research in Houston has initiated analysis of Medical Office Buildings. Healthcare employment in the Houston area has grown by 42 percent over the last decade, ... Read More »

Oil Price Crash Pushes Houston Office Market to Its Lowest Point in 20 Years

HOUSTON – Houston’s office market is at its worst point in 20 years. The supply of sublease space has soared as new buildings have been built with few or no tenants ready to move in. The availability rate (the amount of sublease space and the empty office space directly available from landlords) hit 19.8 percent in the second quarter, CBRE ... Read More »

Sixty-Six Warehouses Under Construction in Houston, CBRE Reports

HOUSTON – Sixty-six warehouses and industrial buildings are under construction in the Houston area, the most robust construction pace in years with 11.2 million square feet being built according to CBRE. Robert Kramp, CBRE’s director of research and analysis, says Houston has become a major distribution hub that no longer relies as heavily on Dallas, the traditional warehouse and distribution ... Read More »

Labor Shortage Pinches Construction Industry

(By Dale King) Nearly a million workers in construction trades lost their jobs during the “Great Recession” and its aftershocks that slammed the United States in 2008 and subsequent years. Ironically, that same economic downtown continues to adversely impact the construction trade. Only today, it is causing a labor shortage that is forcing industry costs up, even though the price ... Read More »

El Paso Industrial Portfolio Sold

EL PASO, Texas – Affliates of Dallas-based Covington Group Inc. acquired the 548,629-square-foot Butterfield Trail portfolio in El Paso.  Covington Group is already underway with a multi-million dollar capital improvement project for the six-building industrial portfolio. Covington Group acquired the portfolio from Butterfield Trail Trust . Covington Group has hired Christian Perez Giese and Chad McCleskey, with CBRE’s El Paso ... Read More »

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