Broker: ‘Houston is considered the most opportunistic market’ for multifamily investors

Clint Duncan and Matt Phillips remember having to educate out-of-town investors about the state of Houston’s apartment market last year.

Despite the doom-and-gloom headlines about the energy downturn, Houston’s apartment market wasn’t as bad as the nation thought, the CBRE Group Inc. (NYSE: CBG) brokers would say. Yes, rents and occupancy rates are down, but multifamily operators weren’t going bankrupt or selling off distressed properties, they told clients.

Click to read more at Houston Business Journal.

Houston industrial developers could take a note from Los Angeles, brokers say

Houston’s industrial market has remained resilient amid the ongoing oil slump. Development activity around the Port of Houston, among other things, has buoyed the market since the 2014 energy slump.

But land around the Port is becoming scarce, experts say, almost to the point where developers should start considering purchasing older industrial properties in southeast Houston as renovation or redevelopment opportunities.

Click to read more at Houston Business Journal. 

These Houston neighborhoods have the most apartments under construction

Houston’s pipeline of new apartments is dwindling in response to the oil slump.

However, thousands of apartments are still going up across the Bayou City.

CBRE Group Inc. (NYSE: CBG), a commercial real estate firm with an office in Houston, analyzed information from Houston-based Apartment Data Services and found that 17,694 apartment units are planned or under construction across the metropolitan area.

In fact, Houston has the third most apartments proposed or under construction nationally, according to Yardi Matrix, the multifamily research arm of national apartment search website RentCafé. Only New York City (26,739 units) and Dallas (24,960 units) have more apartment units in the works.

Click to read more at Houston Business Journal.

Houston retail market in the ‘midst of a rebalancing act’

Houston’s retail market has been charging full steam ahead since 2013 with net absorption outpacing deliveries by nearly three million square feet a year.

However, in the second quarter, Houston’s retail market saw 873,000 square feet in absorption, according to JLL’s second-quarter retail report, which is down drastically from the 1.9 million square feet absorbed in the same quarter last year.

Click to read more at Houston Business Journal.

HFF exec talks ‘turmoil and confusion’ of a retail market in the Amazon age

The hierarchy of which companies sit atop of the city’s retail market is shifting as e-commerce companies, such as Seattle-based Amazon (Nasdaq: AMZN), are staking their claim in the Houston market.

“There’s lots of turmoil, confusion and who’s going to be the winner in retail,” said Rusty Tamlyn, senior managing director of HFF Inc.’s investment sales group. “Amazon moving into the grocery store space is very competitive (to retailers).”

Click to read more at Houston Business Journal.

Downtown Houston’s top office buildings show promising upswing

Here’s some welcome news for downtown Houston landlords.

Downtown Houston, despite its historic reliance on the kind of tenant that’s reducing its footprint, has a lower vacancy rate than the city’s average vacancy rate of 22.4 percent, according to a recent report from Chicago-based JLL’sHouston office. The submarket posted promising leasing numbers and has started to attract serious investors, too, per the report.

Click to read more at Houston Business Journal.