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January 4, 2024

Houston Office Leasing Declined 35% Last Quarter As Tenants Vet Landlord Finances

What Factors Make Houston's Master-Planned Communities An Attractive Destination For Corporate Relocations? Find Out Feb. 22

Houston’s office market hit a five-year low in leasing activity in the fourth quarter of 2023 as occupiers grow increasingly cautious about landlord finances.

Houston Office Leasing Declined 35% Last Quarter As Tenants Vet Landlord Finances

Quarterly leasing activity totaled 1.6M SF, a 35% decrease from the previous quarter, according to Savills’ Q4 2023 Houston office report released Tuesday. Overall leasing volume decreased about 12% from 2022 to 2023, the report shows.The decrease is partly due to natural fluctuation, but other factors…

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Texas Moves To Link Its Power Grid To Other States After Heavy Property Losses 3 Years Ago

Texas is taking steps toward expanding its famously self-contained power grid in what is likely to be welcome news to a state that suffered tens of billions of dollars in property damage due to a grid failure three years ago.

Texas Moves To Link Its Power Grid To Other States After Heavy Property Losses 3 Years Ago

The $2.6B plan calls for a 400-mile transmission line through Louisiana and into Mississippi that would connect the Electric Reliability Council of Texas grid to the southeastern U.S., The Dallas Morning News reports.The line, called Southern Spirit Transmission, is a Pattern Energy project that would allow energy to…

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Share Of Foreign Investment In U.S. Property Market Near Historic Lows

Share Of Foreign Investment In U.S. Property Market Near Historic Lows  

While a famed Italian fashion house might have closed 2023 by splashing down more than $800M on Fifth Avenue real estate, foreign investors captured a historically small portion of the U.S. commercial property market last year.

With property prices still in flux and geopolitical instability spreading across the globe, these big-pocketed players aren't expected back in the market in force soon.

Investors based outside the U.S. accounted for just 3.4% of U.S. property acquisitions in the 12 months ending in September 2023, according to MSCI Real Assets data provided to Bisnow, the lowest share since December 2008. After spending more than $15B on U.S. CRE in the first quarter of 2023, foreign investors spent $10.1B…

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WeWork Continues To Cut London Portfolio As International Arm Makes Loss

WeWork Continues To Cut London Portfolio As International Arm Makes Loss  

Beleaguered coworking giant WeWork has reached agreements to cut three more of its London locations totalling more than 250K SF as its international division reported a £110M loss. The latest locations on the chopping block are Shoreditch Exchange, The Hewett and The Bower, all in the Shoreditch area of…

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