REBusinessOnline

OKC Industrial Market Sees Record Development, Low Vacancy as 2022 Begins

By Randy Lacey, SIOR, senior vice president, CBRE | Oklahoma City; and Chris Zach, CPA, associate, CBRE | Oklahoma City Contrary to popular belief, the ongoing pandemic has been a boon to many aspects of the Oklahoma City economy.   Industrial real estate growth has been more prominent than any other commercial sector. Those familiar with the city and surrounding area can vouch for the speed and intensity of housing demand and development, but industrial real estate has set itself apart over …

Industry Professionals Across Texas Share Views on Macroeconomic Challenges via Exclusive Survey

By Taylor WilliamsIn late October, Raphael Bostic, president of the Federal Reserve Bank of Atlanta, gave a virtual speech in which he carried a glass jar with the word “transitory” labeled on it.Inside the jar were wadded-up dollar bills, deposited by Bostic’s staff members each time they used the word “transitory” to describe the surge in prices of consumer goods and services. The exercise was meant to dispel the notion that the current inflationary environment would be …

Texas Retailers Still See Major Value in Mixed-Use Settings

By Taylor Williams The factors that have long enticed Texas retailers and restaurants to locate in mixed-use environments are back in full force, such that these users are once again willing to pay a premium for spaces built-in density and walkability.  In some ways, this trend never really disappeared in Texas, one of the first states to reopen during the early months of COVID-19. Through measures passed in 2020 like sanctioning to-go alcohol sales and allowing businesses to stay open, …

Slow-But-Steady Recovery Ensures That Dallas Remains a Top Office Market

By Mike Otillio, research director, Colliers The Dallas office market and North Texas region as a whole continue to evolve as leading destinations for corporate relocations, led in part by a favorable business climate.  This reputation as a top landing spot for regional workforce consolidations and outright relocations from other states has helped Dallas become a national leader in some key back-to-work metrics. According to research from security firm Kastle Systems, which monitors …

Multifamily Represents the Land of Opportunity for North Texas Developers in 2022

By John Griggs, co-founder, co-CEO, Presidium Everything is bigger in Texas, including the opportunity for apartment investment, development and absorption — and the nation is catching on.  In 2021, Dallas-Fort Worth (DFW) again led the country in the number of multifamily units delivered, adding more than 20,000 new residences for the fourth year in a row. With the thriving economy, lower taxes, central location and an influx of people moving to the area via natural net migration and …

Demand Resurfaces in Dallas Retail Market as Supply Wanes, New Households Arrive

By Philip Levy, senior managing director, investments, Marcus & Millichap The Dallas retail climate is more favorable entering 2022 than it has been for most of the COVID-19 crisis.  Overall, the marketwide retail vacancy rate fell 50 basis points during the first three quarters of 2021, ending at an even 6 percent in September.[caption id="attachment_309119" align="alignright" width="100"] Philip Levy, Marcus & Millichap[/caption] Nevertheless, that rate is about 100 basis …

Manufacturing Can Play an Unsung Role in Driving Industrial Growth in Dallas

By Conrad Madsen, SIOR, co-founder and partner, Paladin Partners; and Kipp Collins, partner, Paladin Partners Just 20 years ago, the conventional wisdom and commonly held belief throughout the Dallas commercial real estate scene was that office and retail were preferable sectors to be in versus industrial. Looking back and reflecting on how industrial has gone from ugly duckling to white swan in just 20 short years, we can’t help but be glad that we didn’t take that advice. Led by Amazon, …

Texas Office Owners Double Down on Health, Wellness

By Taylor Williams Office owners in Texas remain acutely aware of how the pandemic has changed the game and are not shying away from promoting health and wellness within their buildings. According to data from security firm Kastle Systems, which tracks keycard, fob and app access to some 2,600 office buildings across 138 cities and 47 states, office space in America’s largest markets continues to be underutilized. Across the 10 markets that Kastle Systems tracks, including Austin, Houston …

Houston Industrial Market Puts a Bow on a Record Year

By Zack Taylor, senior vice president, Colliers Houston’s industrial market continued to see strong leasing activity in the third quarter. Overall net absorption for 2021 should easily pass 20 million square feet, making it the best year on record by a long shot. For context, Houston’s industrial market has, on average, absorbed between 8 million and 11 million square feet of space per year since 2014. Houston’s North and Southwest submarkets absorbed the most space in the third quarter …

Rising Oil Prices, Positive Quarterly Absorption Spell Hope for Houston Office Market

By Blake Virgilio, SIOR, CCIM, vice president at Colliers The Houston office market continued its very gradual stabilization with 27,000 square feet of positive absorption in the  third quarter. While that volume of absorption only represents roughly one floor of office space in a typical Houston office building, it’s the first time the market has posted a quarter of positive net absorption in the last two years.[caption id="attachment_305680" align="alignright" width="100"] Blake …

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