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Trending this Week...
- CRE rental rates in the Woodlands area continue to rise in 2019.
- 330K SF office tower coming to the Domain in Austin.
- Samsung expanding footprint in Plano.
In The Woodlands Area, Commercial Real Estate Rental Rates See Uptick
In The Woodlands area, commercial real estate rental rates held on to 2019 gains while vacancies increased only slightly. I
Industrial rental rates in the area continued to see an uptick in The Woodlands area in October, while office and retail rates held steady, maintaining gains made this year. This comes even as vacancies in all of the three commercial sectors have increased slightly this year.
Latest Development News
Domain Tower 2, a 24-story office tower that will have 330K SF of office space, is being constructed in The Domain development of Austin. In Mesquite, a large industrial development named Urban District 30, will include five buildings totalling more than 979K SF of industrial space, generating up to 900 jobs. Meanwhile, in Houston, a new 210K SF office tower called 200 Park Place topped out between Highland Village and the River Oaks District.
Latest Leases Signed
Samsung continues to expand its footprint in Plano as Samsung SDS, a subsidiary of the South Korean tech giant, officially leased 24K SF of space in the Apex building off of Bush Turnpike. In the North Dallas suburb of Carrollton, NAPCO Bag & Film signed an 81,535 SF lease, taking over an entire industrial facility. In other news, the Cedar Crossing Distribution Center in Baytown, outside Houston, has a new tenant, Merih Cotton Corp., who inked a 67,427 SF industrial lease.
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Why Hiring a Tenant Rep Matters
In an article from our blog, we speak with Ted Rohan, a Senior Associate with Avison Young. Learn about how hiring a tenant rep can help you during lease negotiations, especially in the high-demand Austin office market.