Category: Focus

Commentary: Are Californians Moving to Texas Because of Our Lax COVID-19 Rules?

Posted on by Sarah

Huge California influencers like Lauryn Evarts Bosstick (@theskinnyconfidential), Sazan Hendrix (@sazan), Anna Victoria (@annavictoria) and celebrities like James Van Der Beek keep moving to Austin, and I kind of hate it? I put a question mark there because honestly I don’t really know how I feel but I can tell you something feels off about it. Over the last 10 months or so I’ve noticed a large influx of really big influencers and celebrities (of all sizes) packing up and leaving California for Austin. And when I started digging into the why, it seems they all of a sudden thought Austin was the place to be — in the middle of a global pandemic no less. I found similar reasons across the board. Most of them listed “cheap” housing/land prices, this idea that Austin is a thriving utopia not hit by COVID-19 or any other issues, the overall inexpensiveness of Austin, and lack of COVID-19 restrictions. I watched Instagram stories of one large influencer who said she loved how cheap everything in Texas was. I listened to an author share how great it would be for his kids to go to school in person, an option he didn’t have in California. I watched one influencer sit inside a well known hotel in Austin and express that the thing she was most looking forward to in her move was dining indoors. I read a Facebook post by one celebrity who said Texas offered the conservative values he was looking for and less COVID-19 restrictions than California. I listened to a podcast/influencer couple with over 1 million followers on Instagram talk about how many businesses in Austin were thriving because they didn’t have COVID-19 restrictions like the ones in California, and they also mentioned how excited they were to eat indoors. I watched and listened as influencers and other Californians of privilege went on and on about why they chose to move to Austin and I wondered what planet these people lived on. Click to read more at www.chron.com.

Austin Ranked No. 9 Overall on CBRE’s Inaugural U.S. Development Opportunity Index

Posted on by Sarah

Austin – Jan. 27, 2021 – Austin offers one of the most favorable development markets for commercial construction in the U.S. according to CBRE’s U.S. Development Opportunity Index. The region secured the ninth overall spot on the inaugural list with sector rankings of fifth for retail development opportunities, sixth for office, seventh for multifamily and 18th for industrial. The report, which analyzed the top 50 U.S. markets by population, scored markets based on four performance categories: construction costs, fundamental strength of existing supply, prior cycle performance and property forecast. “As the population of the greater Austin area is on pace to grow 25% or more in the next 10 years, construction in the area will need to keep up with the additional demand for commercial real estate,” Brian Jarrett, Senior Director with CBRE Project Management. “We expect construction pricing will remain highly competitive due to number and quality of construction firms in the area. There are fantastic general contractors that not only specialize in nearly every construction type, but also specialize in nearly every project size.” Jarrett added that Austin’s projected growth can be attributed to several factors. “In addition to Texas’ business-friendly environment, the greater Austin area has plenty of affordable land and a great labor market. Combine that with great schools, affordable housing options and a consistently strong job market, it’s no wonder that top companies continue to relocate to the region.” Click to read more at www.cbre.com.

Office, Retail Space Under Construction Grows in The Woodlands Area Alongside Growing Vacancies

Posted on by Sarah

As of early January, office and retail vacancies in The Woodlands area were higher than they were the previous year at the same time. However, industrial vacancies decreased. At the same time, the amount of retail and office space under development was higher through the first quarter of 2021 than it was a year earlier. Retail rental rates ended the year higher than they began in 2020. Click to see data and read more at www.communityimpact.com.

These Are Excellent Times For DFW Industrial

Posted on by Sarah

Well, 2020 was certainly a year for the ages. Before getting into what D CEO asked me to write about, the current state of the Industrial real estate market in DFW, I think it would be unmindful only to discuss business in a vacuum. The Industrial market is as strong as it has ever been, but I can’t just jump right into that. Last year was grueling for all of us, whether it was learning how to work from home, personal tribulations, Covid-19, political unrest, we have experienced a lot this year. Through the pain, heartache, and turmoil of 2020, my mind goes to a song I was listening to this weekend: There will be Better Days—2021 will have those better days. For me, 2020 started with devastating medical news I received about a loved one. A tough cancer battle would occur for months with extensive surgery and challenging odds—David vs. Goliath. Last week I found out David was cancer-free. There will be Better Days. I hope everyone who reads this blog experiences a better 2021 than 2020. Now let’s discuss the DFW Industrial market, which had a heck of a year in 2020. Click to read more at www.dmagazine.com.

Growth Opportunities in Unusual Times

Posted on by Sarah

Coming off a year when business shifted unpredictably, opportunities for growth now abound in ways we’ve never seen before. The COVID pandemic sent shockwaves through developments that previously seemed impenetrable. Office space sat empty, with rental revenues deteriorating, as employees worked from home. Restaurants struggled to stay open with carryout orders. Retail stores remained quiet as online orders grew dramatically. But behind the scenes, other industries could barely meet demand. Rail car storage yards burst to capacity, as railroads sought out places to park unused cars. Manufacturers turned away from their longtime affair with just-in-time models, instead of looking for warehouses to store the goods that would help them ride out business fluctuations and employee downtime. Here at TexAmericas Center, we knew that we didn’t want to change our entire business model for a pandemic that might only last a year or two. But at the same time, we knew our clients needed something more. So, we tweaked our business model to best serve our clientele for 2020 and 2021. That included building warehouse spec space, adding third party logistics services and using existing spaces in unique ways. Click here to read more at www.rednews.com.

SpaceX to Convert Offshore Oil Platforms into Spaceports

Posted on by Sarah

SpaceX has purchased two deep-water oil rigs off the Texas Gulf Coast to someday use as sea-going spaceports for their Starship spacecraft. The commercial space firm, through an entity called Lonestar Mineral Development, bought the platforms from offshore drilling company Valaris in July, according to public filings. Several media reports say Lonestar Mineral Development bought the rigs that were headed to the scrapyard for $3.5 million each, a steal compared to the original production costs between $330 and 515 million in 2008. London-based Valaris has corporate offices in Houston and filed for Chapter 11 bankruptcy in August. The new owner has renamed the rigs Deimos and Phobos, presumably after the Martian moons, according to space media outlet NasaSpaceFlight.com. Bret Johnsen, SpaceX’s chief financial officer, is listed in public records as Lonestar Mineral Developments’ principal. Click to read more at www.chron.com.