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Trending this Week...
- Houston office investment slow in 2019.
- Old Austin School District headquarters to be replaced with 109K SF office building with retail.
- Plans for phase 2 of Texas Live! in Arlington revealed.
Houston Office Investment Slow in 2019
There has been some major office investment news in Houston this year, as large properties like the Bank of America Tower, 600 Travis, and Park Towers each changed owners in 2019. But industry professionals note that these transactions are not representative of the way the larger market is going. Houston’s office space saw an 87% decrease in investment in 2019, and is on pace for the lowest annual volume since 2016.
As Colliers Houston principal David Carter put it, “It’s been a slower year than normal; there seems to be a lot of interest in Houston, but not a lot of people pulling the trigger. Read the full story here.
Does this trend affect office rents in your market? For more information on market trends, rents and more visit our Houston or Austin City Pages.
Latest Development News
In Downtown Austin, the old Austin School District headquarters will be replaced with a 109K SF mixed-use building with space for office and retail. In DFW, a 1 million SF industrial park recently broke ground in Haltom City, while the developer behind Texas Live! in Fort Worth revealed that plans for phase 2 of the development. The next phase will include 200K SF of office space, 150K SF of convention meeting space, 100K SF of retail, and a small business incubator space, along with a new hotel and a residential building.
Latest Leases Signed
In Downtown Dallas, TripActions, a company that specializes in corporate travel, has leased 88,490 SF at Renaissance Tower, while Qualtrics announced plans to triple their presence in the Dallas area in the coming years, as the company recently acquired 40K SF of space in Plano.
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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.