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.
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The Urban Land Institute's Emerging Trends in Real Estate Report Places Austin at the Top of the List
The Urban Land Institute’s 2020 report ranks Austin as the No. 1 real estate market in the country. The report explains that “Austin is number one, rising from sixth place a year ago to first in overall real estate prospects and from fourth to first place in local expectation of investor demand in 2020.” The report considered Austin’s unique and popular lifestyle, talented workforce, solid economic growth, and strong commitment to real estate expansion.
Latest Development News
Outside of Dallas, the Fairview Town Center is slated to add a flexible, shared office space concept called Venture X. The company plans a 20K SF facility at the mixed-use Fairview Town Center development. In the Houston Area, construction has started on a 19-acre industrial complex in Humble. The development, called Parc 59, will offer tenants about 279K SF of Class A warehouse space near George Bush Intercontinental Airport. This news comes as the Cy-Fair area in Northwest Houston, with the addition of 4.4 million SF of industrial space over the past year, begins to emerge as a logistics hub.
Latest Leases Signed
This week, a group of retailers were officially announced as new tenants for the upcoming Metropark Square project in Shenandoah, a mixed-use project near The Woodlands. In other news, a pair of coworking concepts, WorkLodge and Deskpass, have opened new locations in Dallas and Houston respectively.
Is it Better to Buy or Rent?
Should your company buy or rent space? We get this question quite often. On the commercial side of real estate, space is more expensive, so commitments are much longer, and liabilities are that much greater. Because of this, you should never put something under contract without a complete review and understanding of the full dynamics of what a purchase means for your business.
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