Tenavox Blog

    The Latest Resources, News and Events Curated by our Team of Commercial RE Experts

     

    Written by Tyler Williams
    on August 20, 2019

    Welcome to the Tenavox Weekly News Roundup!

    We're sending out a weekly collection of great articles and newsworthy content in the commercial real estate industry with a special-tilt towards businesses and tenants.

    Let us know what you'd like to read about here. We'll work to incorporate more stories based on your feedback, every week. Remember, if you have any specific questions you can contact us anytime.

     

    Trending this Week.

    Trending this week

    Houston Office Market Begins its Road to Recovery

    For the Houston office market, the road to recovery will be slower than many hoped. Right now, Houston has a sky-high 19.4% office vacancy rate, which isn’t expected to improve much over the coming months. However, some experts are predicting that the market will reach a healthier status by 2020. This high vacancy rate gives Houston tenants a leg up in lease negotiations, so experts suggest that now is the ideal time to lock in rental rates for the next five to seven years.

    Industrial Development in Northeast Tarrant County is Booming

    A new report from costar says that the northeast Tarrant County submarket, which includes North Fort Worth and master-planned community AllianceTexas, is blowing away the pipelines of major markets across the country. The submarket has 9.6M SF of industrial space under construction, which dwarfs the under construction space for New York (5.1M SF), Los Angeles (5.4M SF), and Philadelphia (7.6M SF). Even with the jump in new development, industrial vacancy rates in the northeast Tarrant County submarket still remain stable at 9%, because major firms like Stanley Black & Decker and Callaway Golf have leased leased facilities that are about 1M SF.

     

    Latest Development News

    This section highlights some of the development news and completed projects to watch for in your market. For more information on market trends, rents and more visit our Houston or Austin City Pages.

    This week, Virgata Property Co. announced their plans for Virgata Commons, a mixed-use project in Friendswood, near Houston. Phase 1 features 20K SF of retail space with three pad sites, while phase 2 will include 30K SF of retail and office space. In other news, a revitalization project at the Houston Farmers Market broke ground on August 6. The existing 17.67-acre site previously had about 180,000 sq. ft. of retail space, and new plans will add around 50,000 sq. ft. of functional space, which will help support five to six new restaurants and space for six to 10 new counter-service concepts. Meanwhile, rapid commercial development comes to Allen in the DFW area, as more than 13M sq. ft. of space is expected as 3 big developments are set to change the city.

     

    shutterstock_468568064

     

    Latest Leases Signed

    This section highlights some of the leases signed and deal terms to watch for in your market. For more information on market trends, rents and more visit our Houston or Austin City Pages.

    This week, some big leases inked in Houston. Arroyo Energy Investors announced plans to relocate to CityPlace 1 in Spring, while tech giant Amazon signed a 25K SF lease in CityCentre 5. In Katy, Kelsey-Seybold, a center for health care research and a large clinic system providing health care for NASA, officially leased 3.77 acres to develop a clinic at the Grand Morton Town Center.

    shutterstock_633340367

     

    Everything a Tenant Needs

    If you enjoy reading, our comprehensive book is written for Tenants and Businesses looking to occupy space. Get the whole book, 100% Free.

     

    Why Hiring a Tenant Rep Matters

    In an article from our blog, we speak with Ted Rohan, a Senior Associate with Avison Young. Read about how hiring a tenant rep can help you during lease negotiations, especially in the high-demand Austin office market.  

     


     

    Learn more about commercial real estate leasing and check out our Latest Blogs and our Learning Center for awesome information, market trends, professional highlights and more.

    Let Us Know What You Thought about this Post.

    Put your Comment Below.

    You may also like: