Category: Market Outlook
140,000 SF industrial facility sells near Port of Houston
September 2nd, 2010, No Comments
Eric Hughes with Centermark Commercial Real Estate represented McCorvey Real Estate Holdings on the purchase of 140,000 SF of industrial buildings located at 4800 Fidelity in Houston, TX. Vallone and Associates represented the Seller, Texas Rice.
The property is planned to be repositioned with the existing buildings to be refurbished and leased with a phase II freestanding industrial development [...]
Have we seen the end of lender funded speculative commercial development?
June 20th, 2010, No Comments
The late 1990’s and especially 2003-2007 experienced an unbridled push of retail, office and industrial speculative development. Lenders were handing out non-recourse money on projects which, to any experienced commercial broker, had little chance of success. The immediate reward of development and loan fees along with short term interest put blinders on banks and investors and [...]
More commercial loan fallout ahead? What does this mean for borrowers and investors?
April 3rd, 2010, No Comments
From Star-Telegram.com “A February report by the Congressional Oversight Panel paints a bleak picture of commercial real estate…
Commercial loans
The report estimated that $1.4 trillion worth of commercial loans will be due between 2010 and 2014, and more than half are considered “underwater,” meaning more is owed than the property is worth. Mortgages on apartments and [...]
Small user office buildings strong in class A/B parks
February 18th, 2010, No Comments
Most Houston office markets see 1st qtr. increases in occupancies, absorption and rental rates. For local developers, this may be why small user office buildings are a small shining light in the fog of uncertainty. In areas where multi-tenant office development has consumed all the vacant land, those owners with a low basis could do well with properly [...]
The Port Commission of the Port of Houston Authority approved $1 million for Bayport construction projects
February 12th, 2010, No Comments
According to Breakbulk.com, “The Port Commission of the Port of Houston Authority approved $1 million for Bayport construction projects, including a sight and sound berm on its west end and installation of a gate control system, at its regular meeting last week.
The commissioners approved a construction contract with Burnside Services, Inc. to construct the west [...]
Commercial Construction pricing down 25%…
January 28th, 2010, 1 Comment
Several major, local Houston area warehouse construction projects rebid since the summer have come back at 22% to 27% less than the original bids. These quotes are for industrial, metal warehousefacilities over 50,000 SF with no interior finish. Office build-out costs seem to only be down about 15 – 18% over the same period.
Major drops in concrete [...]
