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Bivins Reports from the JLL Gensler Energy Forum in Houston

(By Ralph Bivins) HOUSTON – Persistent weakness in the energy industry continues to challenge the Houston office market where the supply of sublease space has reached 12.2 million square feet, according to JLL. The vacancy rate in Houston’s Energy Corridor area climbed to 25.7 percent in the third quarter and that submarket had 432,000 SF of negative absorption, JLL reports. ... Read More »

The Ongoing Impact of Cheap Oil: a Q&A with Trendmaker Homes’ Will Holder

HOUSTON – Will Holder has spent some four decades in the home construction business, the last 22 years at Trendmaker Homes, where he is currently president. The 2012 president of the Greater Houston Builders Association, Will recently developed and taught a graduate level real estate course in The University of Houston’s Bauer College of Business, Graduate Real Estate Program. Trendmaker ... Read More »

Industrial Realty is Hot: The Q&A with Charlie Christ of Clay Development and Construction

Despite the drop in energy prices, Houston’s industrial sector remains robust. Earlier this year, heating, cooling and refrigerant product manufacturer Daikin Industries announced it was expanding in Space City with a new 4 million-square-foot campus with 4,000 jobs. Such activity is providing a boon to firms such as Clay Development & Construction, a design/builder of industrial build-to-suit facilities. Clay has ... Read More »

Retail and Real Estate: The Q&A with Vista Equities Group President Woody Mann, Jr.

  With energy prices in turmoil and layoffs mounting, there is obvious concern in in the Houston real estate industry. Realty News Report talked to Woody Mann, Jr., President, Vista Equities Group about the current situation. Founded in 1985, Houston-based Vista has been involved in the acquisition and/or development of 58 commercial properties with a market value of over $500 ... Read More »

Best August Ever for Houston Home Sales, Despite Last Month’s Plunging Oil Prices

HOUSTON – The Houston Association of Realtors reported 7,454 single-family homes were sold last month – the best August on record and the eighth best month ever for the city’s housing market. Sales so far this year indicate that homes are selling at the nearly same pace as last year –an impressive rate considering that 2014 was the best year ... Read More »

ULI Houston: How Realty Will Fare in Energy Downturn

HOUSTON – Falling oil prices are squeezing the real estate markets in Houston, although some sectors are performing well in spite of the downturn, according to panelists at the Urban Land Institute luncheon Tuesday. The roughest spot: the Houston office market, particularly the Energy Corridor, where new buildings are being completed as energy companies trim their workforces. The brightest spot: ... Read More »

Office Tenants Getting Free Rent in Houston

HOUSTON – Landlords are offering free rent in many office leases in Houston, where a contraction in the energy industry has created softness in the office market, although other sectors of Houston commercial real estate are surging, according to CBRE. Companies signing leases for Houston office space in Houston in 2015 are often receiving six to 12 months of free ... Read More »

The Texas Real Estate Market Has Not Withered Away

A word on the Lone Star State: The Texas real estate market has not withered away following the remarkable decline in oil prices over the last year. A significant number of new developments are underway in Texas: a $1 billion 750,000 square-foot Facebook data center is under construction in Fort Worth; a 4 million square-foot Daikin HVAC manufacturing plant being ... Read More »

With Track Record for Accuracy, Marcus & Millichap Forecasts 50,000 New Jobs for Houston

HOUSTON – Marcus & Millichap, which has a track record for accurate economic forecasting, is projecting Houston will gain 50,000 new jobs in 2015. While the drop in oil prices and the layoffs in the energy industry has sobered the Houston economic outlook, the realty market has held up fairly well in 2015. The dire forecasts of local economists just ... Read More »

Bulletproof: Despite Oil Crash, Texas Home Sales Surge in First Quarter; Inventory at All-Time Low

AUSTIN – The Texas residential markets remained immune to the drastic fall in oil prices, as the Lone Star State posted exceptionally strong home sales in the first quarter of 2015, the Texas Association of Realtors reported. The inventory of homes for sale fell to an all-time low. With oil falling from $107 a barrel last summer to less than ... Read More »

Home Sales in Houston Up 3.8 Percent in March

HOUSTON – Home sales in Houston were strong in March, as a downturn in the energy industry failed to inflict serious damage to the housing market. In March, 6,232 single-family homes were sold in the Houston area, up 3.8 percent from the 6,005 homes sold in March of last year, the Houston Association of Realtors reported. “At the first of ... Read More »

Houston Adds 96,700 Jobs, Despite Oil Woes

HOUSTON – Despite the downbeat tone of economy in the oil-rich Lone Star State, Houston continues to put up some impressive jobs growth numbers. The Houston metro area created 96,700 jobs in the 12-month period ending February 28, 2015, according to the Texas Workforce Commission. The Dallas-Fort Worth metro led the state in employment growth, creating 132,400 jobs, San Antonio-New ... Read More »

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