Robert McGee, SIOR, Principal, Lee & Associates – Houston All the recent talk in the Houston industrial market has focused on the amount of distribution space that is under construction or proposed for development. As a result, many industrial real estate professionals are worried about certain submarkets becoming overbuilt. This is a reasonable thought, given that Houston has more distribution space under construction than ever before – roughly 18 million square feet is under construction…
The Future of Coworking Spaces and Landlords
By Robert LaCoure, Principal, Lee & Associates – Houston The coworking phenomenon has certainly disrupted the commercial real estate (CRE) market over the last few years, as well as changed the way we perceive office space. With a possible economic downturn looming around the corner, the question of how the coworking trend will be affected has become a common discussion among CRE professionals and office building landlords. Over 70% of economists are predicting another recession…
Top 6 Mistakes Buyers Make
By Preston Yaggi, SIOR, CCIM, Principal at Lee & Associates – Houston Think you know enough to handle it all? Before embarking on your own, here are six common mistakes commercial real estate buyers make when purchasing a property. Not using a broker: Knowing the market is not as easy as it’s perceived. It’s important to know that you are getting the right deal and the right fit for your business. Hiring a qualified broker…
How Houston’s Public Transportation and Traffic Issues Affect Tenants
Q&A with Jill Nesloney, director, Lee & Associates – Houston Houston is notorious for undesirable traffic issues, infinite construction woes and the need for accessible public transportation throughout the city. Spanning 665 square miles, Houston’s vast space has a large impact on tenants and their employees. When deciding where a tenant should locate, traffic levels and easy access to public transportation are certainly strong items to consider. With experience in all of Houston’s submarkets for…
Choosing an Office Location that Benefits Employees
Q&A with Chris Lewis, managing principal, Lee & Associates – Houston Employees are the heart and soul of a company and are often dubbed as a company’s most valuable asset. Business owners who prioritize their employees’ happiness and well-being typically attract, and more importantly, retain the best talent. When searching for a new office location, companies should take into account the location, available amenities, building energy, access to nature, natural light and length of commute,…
55-year-old Houston Airport Sells in Huge Industrial Development Deal
After more than 50 years of operating as an airport for smaller aircraft, Weiser Airpark in Cypress will soon become a massive industrial park following one of the largest land transactions of the year. Dallas-based developer Trammell Crow Co., in a partnership with New York-based Clarion Partners, closed on the Weiser property at 21904 Northwest Freeway earlier this month. Terms of the deal were not disclosed. Trammell Crow and Clarion Partners purchased the 102.3-acre airpark…
High Obesity Rates Demand Redevelopment
Written by Daniel Wyatt, associate at Lee & Associates – Houston Houston was once considered to be the fattest city in America. While it thankfully no longer holds that title, the city still has an obesity problem. According to County Health Rankings and Roadmaps, 27% of adults in Harris County are considered overweight or obese. That percentage is steadily growing at a rate of 1.8% along with other health issues as a result. More than…
Can Women Survive in the Commercial Real Estate Industry?
Written by Jill Nesloney, Director at Lee & Associates – Houston Historically, the commercial real estate (CRE) industry has been a male dominated industry and is still very much that way. Over the last two decades, we have seen more and more women enter and stay in the CRE sector in Houston; however, it can be an extremely intimidating and competitive industry. What makes it such an intimidating industry for women to enter into? And…
5 Things to Consider When Purchasing Land in the Greater Houston Area
Written by Taylor Schmidt, SIOR, CCIM, Principal at Lee & Associates – Houston Real estate has proven that it can be a great investment. Many have either made their fortunes in real estate or invested their fortunes to be held in real estate. Land acquisitions in the Houston area real estate market are a great example. The economic growth in Houston has contributed to rising real estate prices that have current landowners cashing in on…