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March 9, 2023

Texas Lt. Gov. Dan Patrick Says ‘Largest Property Tax Cut In Texas History’ Would 'Destroy Everything'

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Texas House Speaker Dan Phelan is championing a property tax bill calling for $17B in cuts and a stricter cap on how much school district taxes can go up each year — a cap that would apply to commercial as well as residential real estate. But not everyone is applauding the legislation.

Texas Lt. Gov. Dan Patrick Says ‘Largest Property Tax Cut In Texas History’ Would 'Destroy Everything'

Texas House Bill 2 was introduced late last week by Rep. Morgan Meyer, a Dallas Republican, and endorsed by Phelan. The bill would lower school district property taxes by 28% and lower the cap on annual school district tax increases from 10% to 5%. The passage of the bill would “result in the largest property tax…

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Pappas Restaurants Shown The Door At Hobby Airport After Council Awards New Contract

Despite a high-profile public relations campaign that included plastering social media with requests to sign a petition and "Save Pappas at Hobby Airport" signs at its restaurants around the city, Pappas Restaurants will move out of Hobby Airport after a Houston City Council vote Wednesday.

Pappas Restaurants Shown The Door At Hobby Airport After Council Awards New Contract

The council approved a new 10-year, $470M contract with Areas, a subsidiary of Spain-based Areas SAU, to provide concessions at Hobby Airport. Areas scored four-tenths of a point higher than Pappas during a procurement process, one that was both criticized and defended during Wednesday morning’s meeting.Pappas is a Houston-based chain with 51 restaurants…

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‘Bigger And Better’: What The Austin Industrial Market Looks Like To STG Design’s Scott Grubb

PRESENTED BY:   STG Design
 
‘Bigger And Better’: What The Austin Industrial Market Looks Like To STG Design’s Scott Grubb

The U.S. industrial market experienced a year of abundant demand and record-high construction activity in 2022. This was particularly true for cities like Austin, Texas.Austin’s industrial market ended last year with record-shattering numbers, delivering more than 13M SF of new construction and hitting some of the lowest vacancy rates the market has seen…

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Newmark Continues Hiring Spree, Adds Industrial Vet Jack Fraker To Growing DFW Capital Markets Team

Newmark Continues Hiring Spree, Adds Industrial Vet Jack Fraker To Growing DFW Capital Markets Team   Newmark is continuing its aggressive hiring strategy with the addition of capital markets veteran Jack Fraker. Fraker has been named the firm’s president and global head of industrial and logistics, according to a news release. Prior to joining Newmark, Fraker worked for nearly two decades in the capital markets industrial practice at CBRE. He left CBRE in January, according to his LinkedIn profile. “Newmark is known in the industry for having a deep bench of talent and prioritizing client needs through an entrepreneurial culture and the strength of its capital markets practice,” Fraker said in a statement. “The palpable spirit of collaboration and vision among Newmark professionals led to my decision to join…

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