Third Terminal On The Way At Port Houston As Supply Chain Reshuffle Sends Growth Soaring

Traffic is up nearly 25% at Port Houston so far this year amid what one commercial real estate observer called a perfect storm of global transportation and supply chain pressure.

Now plans are afoot to deal with the unprecedented volume of cargo pouring into the city, including construction of a third container terminal to serve the port.

“We’re dealing with new shipping behaviors and a substantial increase in volume we haven’t seen before, and that’s forced us to put our foot on the gas,” Port Houston Economic Development Manager Rina Lawrence said Tuesday after discussing the planned new terminal late last week at Bisnow’s Houston Industrial & Port Development event held at the Westin Houston Memorial City.

June marked Port Houston’s fifth month this year of double-digit growth over 2021, which was itself a record year for container volume, the organization announced earlier this month. Through June, Port Houston handled just under 2 million twenty-foot equivalent units, or TEUs, an 18% increase over the first half of last…

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Amazon Ups Number Of Postponed, Canceled Warehouses To 49

Millions of square feet of industrial real estate are on the chopping block amid plans by Amazon to cancel or postpone the opening of 49 warehouses.

Nine of the properties were set to open in California, including five in the Bay Area, according to MWPVL International Inc. data reported by Commercial Observer. Amazon still plans to lease a more than 4M SF warehouse in Southern California’s Inland Empire.

This most recent decision comes on the heels of a July announcement that Amazon would postpone or delay 16 warehouses. Those facilities were scattered across the country, including four in Texas.A recalibration between the share of purchases made online versus in-store is one reason behind the scale-back, MWPVL…

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Return-To-Office Reluctance vs. Recession: How Opposing Forces Could Impact Office

Office owners and employers nationwide have more months of uncertainty ahead as an expected recession and the well-worn dynamics of a downturn combine with the vagaries and unpredictability of the return-to-office movement.

Recessions usually mean more power for employers as workers worry about their jobs, which could create leverage for getting people back to the office instead of serving as a salary governor as in downturns past. But in a post-Covid world, nothing is that simple.

"The executives that we talk to on a daily basis certainly want their people back," said West, Lane & Schlager principal Richard Lane, a tenant representation specialist in metro Washington, D.C. "Given their druthers, they'd like people to come in three or four days a week, and if the labor…

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