Category: Southeast Texas Market Reports

UT backs out of plans for Houston campus

Posted on by ginger

The University of Texas is walking away from plans to expand in Houston with a 300-acre campus just south of the 610 Loop near NRG. In a press release, UT system chancellor William McRaven said he was concerned about the Houston campus “overshadowing the extraordinary work underway on the 14 campuses of the UT system.”

Click to read more at Bisnow.

Here’s how Houston’s sublease glut compares to Austin, Dallas

Posted on by ginger

Houston ranks No. 1 on a list – but it’s not something to exactly celebrate.

The Bayou City is leading major Texas markets in its volume of sublease space on the market, according to a report from Newmark Grubb Knight Frank. Houston ended 2016 with 11.5 million square feet of available sublease space.

Click to read more at Houston Business Journal.

Houston named a ‘risky bet’ for office investors

Posted on by ginger

A report from Silicon Valley-based Ten-X LLC, an online real estate marketplace, has dubbed Houston the No. 1 “sell” market in the nation.

The report ranked the top U.S. markets in terms of whether office investors should buy or sell assets. Houston is among Cleveland, suburban Maryland, Memphis and Milwaukee as cities that are being “undermined by weakening labor markets” that’s slimmed down office space demand and office absorption rates, according to the report.

Click to view more at Houston Business Journal.

Houston’s office market to be hit with ‘double whammy’ this year

Posted on by ginger

Even though the Houston economy has bottomed out, experts say, it will likely take another 12 to 18 months for the city’s office market to finally hit bottom, said David Wegman, director of research and marketing at Newmark GrubbKnight Frank, during the firm’s 2017 forecast breakfast.

Click to read more at Houston Business Journal.