Over the past few years, Houston’s diverse economy has proven resilient. This diversity helped the city weather a major drop in oil and gas prices that, during previous downturns, severely affected the office market. While Houston has taken its share of recent hits, it appears poised to move forward into a period of stability and steady growth. While most of Houston seems to be in recovery mode, the local office market historically trails the oil and gas industry and usually takes additional..
South Texas is in the midst of a growth spurt in the commercial real estate industry. Within the area’s retail sector, demand for freestanding emergency rooms and cold storage facilities is growing rapidly. Though atypical, requests for such spaces are becoming increasingly common in the Rio Grande Valley (RGV). An estimated 1.3 million people call the RGV home. Both Hidalgo and Cameron counties are equipped with multiple hospitals to meet the healthcare needs of residents. There are three..
As we turn the page on another successful Manufactured Housing Institute National Congress and Expo, several themes are emerging. From the amount of capital in the market to the changes in the government agencies to continued reforms in financing for chattel, or homes, the industry of manufactured housing heads into the second half of 2017 with substantial momentum, thanks in part to a number of new entrants in the market. A few statistics shared at the conference reveal the interest in the..
Houston’s multifamily market appears to be on the verge of recovery after facing considerable headwinds in 2016. Job growth, population growth and faster-than-anticipated apartment absorption in the first half of 2017 are luring investors and lenders back to the region, putting the market on solid footing for future growth. To better understand how we arrived here and to grasp near-term expectations, let’s take a brief look back. The collapse in energy prices and the ensuing job..
At the end of the first quarter 2017, the Houston industrial market finds itself in very familiar territory, with several dominant trends largely maintaining course. Despite continued struggles within the oilfield manufacturing sector, the overall market is still in very good shape. Large consumer goods distributors driven by population growth in the greater Houston area and plastics users responding to increased demand from expanded chemical plant capacities produce the headliner..
For nearly a decade, multifamily financing has had the benefit of the most stable sources of long-term debt, which has kept the investment market strong and the property type in favor. Whether it is agency lending, life company permanent debt or commercial mortgage backed securities (CMBS) financing, there has been a consistent market for multifamily loans throughout the economic recovery. Houston has been the beneficiary of significant capital supporting multifamily investment and..
During his latter years in office as Texas governor, Rick Perry made it a priority to lure businesses to the state, particularly from California. Two-and-a-half years into the term of Gov. Greg Abbott, the successor to Perry, the pace of corporate relocations to the Lone Star State shows no signs of slowing down. Much has been written about the state’s business-friendly environment. Most businesses in Texas that aren’t sole proprietorships or partnerships pay a 1 percent or lower..
The Houston healthcare sector has gotten off to a slow start in 2017. Financial concerns are impacting several healthcare systems as they adapt to a changing marketplace. Industry challenges such as increasing technology costs, as well as changes in payer mixes and reimbursement rates, have impacted organizations’ operating models as a whole. While the majority of organizations have effectively adjusted or are adapting to the change, companies such as CHI St. Luke’s Health, Adeptus..
It’s no secret retail vacancies in the Dallas-Fort Worth (DFW) area are at all-time lows. Vacancy rates at the end of first quarter 2017 were 4.6 percent, down from 5.5 percent a year ago, according to CoStar. More tenants are actively looking for the right spaces for their businesses so the retail sector is not overbuilt. Junior anchor tenants have “right-sized” requirements, thus decreasing their space needs. For example, Office Depot is downsizing its typical footprint from 24,000..
Much like the overall U.S. economy, the Dallas-Fort Worth (DFW) office market is statistically trending upward and will experience continued growth in 2017 as indicated by first quarter numbers. Overall, the marketplace is experiencing sustained growth thanks to small- to medium-sized businesses expanding at a rapid rate, investors selectively chasing higher yields and market cores shifting to suburban areas. [caption id="attachment_180407" align="alignright" width="100"] J.J. Leonard,..