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March 7, 2023

Houston To See ‘Absolute Explosion’ Of Life Sciences, But One Asset Class Won't Be Catching Fire Soon

Come Learn About The Overhaul Of Memorial Park And Its Impact On The City From President & CEO Shellye Arnold
Houston is well-positioned to ride out any economic difficulty ahead, with its strong industrial market, high employment rate, robust population growth and continuous development. But it’s not all rosy ahead, according to experts at Transwestern’s Trendlines event last week — and at least one commercial real estate asset class is poised for a downturn in the near term, according to some.

Houston To See ‘Absolute Explosion’ Of Life Sciences, But One Asset Class Won't Be Catching Fire Soon

Greater Houston Partnership Senior Vice President of Research Patrick Jankowski said he is worried about the Class-A multifamily market as rents continue to soften and units continue to be built.“The best years for multifamily are over,” Jankowski said. “One of my concerns is we’re seeing some slack-off in Class-A … we have roughly 21,000 units…

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I-45 Project Can Resume After Agreement Struck With Federal Highway Administration

An agreement with the Texas Department of Transportation lifted the Federal Highway Administration’s pause on the Interstate 45 North Houston Highway Improvement Project, meaning work can resume after a nearly two-year shutdown.

I-45 Project Can Resume After Agreement Struck With Federal Highway Administration

The agreement takes “significant steps” to address project impacts to the community, according to TxDOT’s announcement Tuesday.The $9.7B project has been criticized for years over civil rights and environmental justice concerns, including the displacement of hundreds of households and thousands of businesses, primarily in low-income and minority communities. FHWA officials asked TxDOT to…

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This Week's Houston Deal Sheet

Stream Realty Partners completed Raceway Northwest Distribution Center, a 156K SF development in northwest Houston.

This Week's Houston Deal Sheet

The new facility offers frontage to Fairbanks North Houston Road and immediate access to Sam Houston Tollway, State Highway 249 and U.S. Highway 290. Stream is offering immediate occupancy for leases from 70K SF to the full 156K SF.Raceway Northwest Distribution Center was constructed to modern distribution development standards, including…

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CBRE Joins Amazon, Microsoft As Fortune 500 Companies Halt Major Office Developments

CBRE Joins Amazon, Microsoft As Fortune 500 Companies Halt Major Office Developments   After months of speculation, CBRE finally came clean earlier Monday about its decision to forgo plans for its new HQ, the latest in a series of cost-cutting moves taken by major corporations hoping to claw their way out of a downturn.Profits and revenue at the nation’s largest brokerage firms took a big hit in the second half of last year, and CBRE was no exception. The firm’s advisory services business, which includes leasing, capital markets brokerage and debt advisory services, saw a 21% decline in net revenue in Q4,…

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