Novel Office Expands Into Houston With Purchase Of Greenway-Area Building

Bisnow readers believe commercial real estate's condition should improve slightly in the new year. But after a harrowing 2023, many in the industry say they will remain in a holding pattern until the storm has safely passed.

A likely end to the Federal Reserve’s series of interest rate hikes is buoying industry sentiment in 2024. And while the majority of the 1,775 respondents to Bisnow’s 2024 predictions survey said they don’t intend to make any major moves this year, some view the next 12 months as prime time to capitalize on the wreckage sustained in 2023.

“The current flux in the market due to uncertainty over pricing, interest rates and geopolitical events still needs time to play out before full confidence can return,” a Paris-based retail expert  told Bisnow late last year. “That said, prices are revising and rental prices have rebased. A lot…

Read Full Story

An explosion at the Sandman Signature Fort Worth Downtown Hotel is being investigated after a blast decimated part of the building Monday afternoon.

It is unclear what caused the explosion, though fire officials said in an afternoon press briefing that a gas leak may be the culprit. Atmos Energy was on-site as of Monday evening.

At least  21 people were injured in the blast, authorities said Monday night.  “Every Fort Worth emergency response agency is on hand responding,” Mayor Mattie Parker said in a statement. “My heart and prayers are with those who are injured as we continue managing the response.”…

Read Full Story

In Case You Missed It...

It’s a golden age for the green building certification and ratings world.

The number of companies buying green certifications from organisations like BREEAM and LEED or sustainability ratings from GRESB is booming. As sustainability moves front and centre for real estate, certifications are creating billions of dollars in value as investors and lenders increasingly target the greenest buildings and companies. 

There’s just one problem: These certifications aren’t helping real estate cut carbon. 

“I’ve got a short and simple message: The system is wrong, and we need to change it quickly,” Coen van Oostrom, CEO of sustainable developer Edge Technologies, said. “It is taking a lot of effort away from the things that are really important.”

Green building certifications could be a vital tool in helping an industry accounting for up to 40% of global carbon emissions to cut back. Done right, certifications could help investors, developers and lenders traverse a complex and highly technical path, ensuring they put their money where it can have the most impact in cutting carbon. 

But in its current form, the system is not helping the industry hit decarbonisation targets. It may even be hindering the fight against the climate crisis, investors and sustainability experts told Bisnow. 

Read the full story here.