Commercial Property, Management and Brokerage News to Know.

The first half of 2020 has been anything but normal, to say the least – but Houston real estate is still on an exciting path forward despite the challenges that the coronavirus pandemic has brought. In Harris County, the construction industry has still been able to operate as an essential business through the stay-at-home orders, and there are several projects that are still set to deliver in 2020 that will continue to establish Houston as a hub of opportunities. Here are a few projects to keep your eye on in the second half of the year.Texas...

The coronavirus pandemic has brought with it a lot of uncertainty, and the real estate industry isn’t immune. But through the adjustments every business has had to make over the past two months, there’s still one thing that’s certain: the commercial real estate industry never stops. However, the restrictions on human interaction have resulted in Belvoir getting creative and adapting to the ways business has changed since early March. Through the uncertainty, we’ve stayed committed to providing the same level of service to our clients and...

As Houston continues to expand and evolve, the popular “city within a city” located just off I-10 on the west side of town is seeing a rise in mixed-use real estate development. Already the site of the 265-acre Memorial City Mall campus and the Memorial Hermann Memorial City Medical Center, new development will extend the district north of the freeway and add to the area’s vibrancy and uniqueness. Construction has already begun on a Class-A office building on Bunker Hill Road, a nine-story tower with about 21kSF of leasable space per floor....

Demand for industrial real estate in Houston is high, and it continues to rise as we move further into the new year. 4.1MSF of new industrial inventory was added in the third quarter of 2019, and the Bayou City is becoming a center of industrial activity, driven by population growth and demand for distribution centers and manufacturing facilities. E-commerce growth is a factor in recent industrial expansion, with facilities accommodating for high customer demand and the need for more inventory. Amazon recently expanded its operations at West...

It’s no secret in the world of real estate that coworking spaces have rapidly grown in popularity in recent years, thanks to a younger generation entering the workforce and pushing for more work-life balance flexibility. But WeWork, the face of coworking space, recently experienced an embarrassing fiasco: after filing the paperwork for its initial public offering in August, its finances and the antics of its CEO Adam Neumann were scrutinized in the media. This ultimately led to Neumann’s exit from the company, a layoff of 2,400 employees and...

Since the oil downturn of 2015-2016, downtown Houston has been plagued by what can only be described as a sublease glut. Sublease space in the Houston area has stood above 9M SF for nearly four years, seemingly with no immediate end in sight. But Houston’s sublease hangover may soon be cured, according to a panel discussion at Bisnow’s recent Future of Downtown event on September 27. Houston’s medical sector, while still constantly expanding and adding value to Houston’s economy, has failed to boost downtown’s office submarket, despite it...

As oil prices steady, Houston’s real estate market is making a rapid comeback throughout the greater Bayou City area. This especially rings true in downtown Houston, where new construction, infrastructure improvement and increased tenant interest are revitalizing the city and rebranding its center as “the place to be.” Downtown Houston is slowly being redefined, as the old is cleared to make way for the new and public perception of the area is altered. The changes are spearheaded by several developments that reimagine Houston’s past. The...

The historic four-story Sears building on the corner of Main and Wheeler has long awaited its renovation, after plans were announced in April 2018 for a new “innovation district” in Midtown encompassing 9.4 acres anchored by the former retail structure. The project, which rechristens the Sears building “The Ion,” was conceived as a hub designed to bring Houston’s entrepreneurial and technological ecosystem to a centralized space for investors. Ground was broken in late July. The Ion will be the 270,000SF center of a four-mile stretch from...

Recognized as the energy capital of the world, it’s no surprise that Houston’s real estate focus is typically centered around the current oil and gas economy. However, the healthcare industry here has grown dramatically over the past 30 years, and now accounts for a significant portion of the overall Houston real estate market. The Texas Medical Center (TMC) – the world’s largest concentration of healthcare and research institutions – continues to expand, along with hospitals and medical office buildings being constructed in suburban areas...

As one of Houston’s historically strong office markets with over 26 million square feet of office space, the Energy Corridor on the west side of town boasts big names in energy sector companies and proximity to suburban housing developments. In Q1 of 2019, the area saw several major acquisitions that hint at a trend of upward growth in the area, as well as accelerated investor interest. Switzerland-based offshore drilling company Transocean Ltd. announced the lease of all 300,000SF of Enclave Place, located at 1414 Enclave Parkway, vacating...