REBusinessOnline

Large-Scale Industrial Development Ramps Up Throughout El Paso

By Doug Derrick, SIOR, managing broker, NAI El Paso The remarkable pace and volume of industrial growth that has defined the major markets of Texas over the past decade is making its way to El Paso, as evidenced by larger projects for marquee tenants and elevated levels of institutional capital targeting the market. The COVID-19 pandemic has boosted the appeal of industrial assets of all varieties, crowding the space with capital sources, driving up prices and creating lower yields on new …

Food & Beverage Users Spearhead El Paso Retail Market’s Recovery, Growth

By Adam Frank, president, River Oaks Properties As one of the sector’s largest owners and developers, we have been witness to a number of uplifting and heartbreaking outcomes wrought by COVID-19 in the El Paso retail market over the last year. We’ve spent countless hours working with the 800 or so tenants that comprise our portfolio, negotiating rent deferrals and restructured leases, helping them navigate the newly launched Paycheck Protection Program and devising creative real estate …

Industrial Landlords in Texas Should Beware of Higher Property Tax Assessments

By Darlene Sullivan, partner, and Justin Raes, tax cunsultant, Popp Hutcheson PLLC While some commercial property types struggled to stay relevant in 2020, industrial real estate seemed supercharged by the pandemic. This year, tax assessors are likely to use strong investor and occupier demand for some industrial properties to support significantly higher assessments for all industrial real estate. They may see this as a solution to make up for value losses in the hospitality, retail and …

Let’s Get Real About Hotel Real Estate in Texas

By Steve Van, president & CEO, Prism Hotels & ResortsWhile 2020 was a trying year for companies in every industry, the hospitality sector has been really taking it on the chin.Restaurateurs and airline executives might disagree, but hoteliers have arguably had it worse than any other industry. The financial impact on the hotel business from COVID-19 is 10 times worse than the hit from the late 2000s recession — and that’s a very big deal.[caption id="attachment_289319" …

Mixed-Use Settings Bolster Office Prospects in Texas

By Taylor Williams The COVID-19 pandemic has cast a shadow of uncertainty on both the short- and long-term fates of many office buildings, but mixed-use developers in Texas are hardly reluctant to continue to include this use in their projects. Philosophies behind mixed-use projects vary in terms of which components lead and which ones follow. Some developers view retailers and restaurants as the connective tissue that dots the networks and thoroughfares and that creates the walkable …

Supply of Affordable Housing Plays Catch-up to Demand in Texas

By Taylor Williams The fundamental forces of job and population growth that drive demand for market-rate multifamily properties are hard at work on the affordable housing sector in Texas, and it doesn’t appear that a supply-demand equilibrium is in the cards anytime soon. In addition, a perpetual shortage of low-income housing tax credits (LIHTCs) and other government-issued subsidies that are required to finance new development of affordable housing are working to keep supply growth in …

San Antonio Industrial Market Moves in Lockstep with National Trends

By Joe Iannacone, vice president of development, Titan Development; and Rob Burlingame, SIOR, CCIM, senior vice president, CBRE While industrial was a preferred investment vehicle prior to the pandemic, the impacts of COVID-19 have further cemented the property type’s place as the favorite asset class among investors. Newly implemented safety precautions related to COVID-19 have accelerated established trends toward e-commerce and delivery-based shopping. The pandemic has also exposed …

San Antonio Multifamily Market Maintains Healthy Supply-Demand Balance

By Sean Sorrell, senior managing director, JLL Last year, San Antonio’s multifamily  sector was one of the only markets nationally in which the 2020 absorption exceeded that of previous years. Moreover, the city’s development pipeline was already contracting after 2019, so additional supply reductions in 2020 and 2021 due to COVID-19 should result in rebounding occupancy across the metro. The market is maintaining balance in terms of supply and demand and is poised to elevate its …

Where Does the San Antonio Retail Market Stand One Year into the Pandemic?

By David Nicolson, president, Weitzman San Antonio  In March 2020, health officials first used the term “pandemic” in reference to COVID-19. Since then, our communities, economy, commercial real estate industry and retailers and restaurants have gone through a year of challenges that few could have foreseen at the start of 2020. The fact that today we are in better shape than we could have predicted during the shutdown a year ago shows that the disruptions caused by the pandemic have …

El Paso Multifamily Investment Demand Remains Strong Through First Quarter of 2021

By Jack Stone, director of investment sales, Greysteel“What do you have in El Paso?”The country is over a year into the pandemic, and Greysteel is still receiving calls on a daily basis from groups asking just that. We sold thousands of units in El Paso over the two years leading up to COVID-19, and there’s no end in sight.In fact, even in these uncertain times, demand seems to have grown. Attracted to the higher yields, strong tenant base and increasingly diversified economy, …

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