Houston's Offices Shutter As Area Braces For Another Wave Of Flooding
Houston is still hunkering down as rain continues to fall on the already flooded metro.
The vast majority of businesses are closed throughout the area. All major office complexes are closed as property managers struggle just to get to their assets.
Transwestern Executive Managing Director of Property Management Rob Bridges has had a busy weekend. With 35M SF under management across the Houston metro, Transwestern has been securing the assets it is responsible for. Bridges told Bisnow Transwestern has been lucky.
"Ninety-nine percent of our portfolio is fairly unaffected," Bridges said. "We're getting lucky in a lot of instances."
All of the offices Transwestern are responsible for are closed, according to Bridges.
Across the Houston metro, property managers have gone into emergency mode, establishing emergency communication with tenants and owners in an attempt to assess the damage. But with more rain still on the way, it is still far too early to estimate the extent of the damage. It could be weeks before Houston dries out.
For now, most of Houston is in a holding pattern. With roads and highways still waterlogged, it is unlikely life will resume in the metro before Wednesday, when Harvey will pass more directly over it. Already struggling to deal with a record-breaking amount of rain, property managers and owners are bracing for the next wave, which could bring another 10 to 15 inches.
