Category: News & Market Reports

Room for Recovery

Posted on by Sarah

The hospitality sector was devastated in 2020, but vaccinations, industrywide efforts, and returning demand are reasons for hope.

Perspective isn’t the easiest thing to maintain when facing unprecedented challenges — and the COVID-19 pandemic provided plenty of those for commercial real estate markets in the year-plus since the resulting shutdown affected nearly every facet of daily life in the U.S.

But with a year in the rearview mirror, hotel property owners, operators, investors, and guests alike have gained enough perspective to know there is light at the end of the tunnel. Plenty of variables will dictate just how far the sector has to go to reach it — but it’s a comforting thought for an industry that’s been to hell and is on its way back in 2021.

“Hope is going to be driven by the widespread dispersion of a vaccine,” says Geraldine Guichardo, global head of research for JLL’s Hotels & Hospitality Group and head of Americas Hotels Research. “Once people feel more comfortable traveling and do not fear the risk of becoming contagious, there is real pent-up demand to travel again.” Cllick to read more at www.ccim.com.

Refuel Electric Vehicle Solutions Combines EV Charging Stations with Commercial Real Estate Expertise

Posted on by Sarah

HOUSTON–(BUSINESS WIRE)–Refuel Electric Vehicle Solutions (REVS), a Houston-based firm offering full-service electric vehicle charging station consultation, installation and management for commercial real estate owners and developers, has officially entered the marketplace. Founded by commercial real estate veteran of 40 years, David Aaronson, and his co-founder and Head of Operations, Mike Aaronson, REVS is addressing a growing need within the commercial real estate and sustainability sectors.

“We are excited to immediately offer our clients the countless benefits associated with EV charging stations, including additional revenue generation and marketing opportunities and potential green or carbon credits.”

REVS goal is simple: to assist property owners, managers, and real estate developers in providing the infrastructure, equipment, and ongoing support needed to refuel electric vehicles in areas where vehicles remain idle for 3+ hours, such as multifamily developments, office buildings, hotels/motels and shopping centers. The REVS team is already helping several clients meet this goal and installing charging stations in multifamily and commercial properties across Texas and California in the coming weeks. Click to read more at www.businesswire.com.

Here’s How To Reduce Energy Costs In Commercial Real Estate

Posted on by Sarah

High-quality automated shading slashes lighting energy use, while at the same time enhancing occupant comfort. Modern LED lighting with advanced controls also greatly cuts lighting energy use, and offers superior results. These are among key findings of research undertaken by the Portland, Ore.-based New Buildings Institute (NBI). The insights should provide commercial real estate owners and operators with keys into implementing lighting and shading retrofits in today’s commercial buildings.

In 2017, NBI spearheaded a major research undertaking underwritten by the California Energy Commission. Titled “Leading in LA,” the project addressed the crucial need to deliver cost-effective, scalable means of dramatically reducing energy use in existing commercial buildings throughout the Golden State. Lawrence Berkeley National Lab and well-known energy-efficiency companies took part in the four-year endeavor, which incorporated lab testing and field demonstrations at two sites.

Click to read more at www.forbes.com.

Lewisville’s 90-Acre Resort-Style Complex Hebron 121 Bought by East Coast Investor

Posted on by Sarah

Hebron 121 Station in Lewisville, one of Dallas-Fort Worth’s largest privately owned luxury multifamily developments, has been sold, seller Huffines Communities announced last month.

EastSky, a multifamily investor with properties primarily on the East Coast, purchased the 90-acre “resort-style” complex from brothers Donald and Phillip Huffines, co-owners of Huffines Communities, for an undisclosed amount. The development includes 1,429 units and more than 2,000 residents and is near Interstate 35E at State Highway 121, as well as Denton County Transit Authority’s Hebron Station on the A-train line.

The Huffines, Lewisville natives, began the massive project when they purchased the land in 2007, building the development out over 10-plus years and five phases.

The first phase of 250 units opened in 2011, but the property now includes both apartments and townhomes with upscale amenities including four pools, sand beaches, fountains, entertainment lounges, an on-site restaurant and convenience store and a swim-up bar.

The last phase finished about two years ago and, with some of the leasing challenges brought on by the COVID-19 pandemic behind them, the Huffines decided to put it on the market.

“We just decided it was time,” Phillip Huffines said. Click to read more at www.dentonrc.com.

Texas Quarterly Commercial Report

Posted on by Sarah

First Quarter 2021

Economic activity within Texas moderated during first quarter 2021 but remained on the path to recovery despite weather-related disruptions in February. Robust hiring in March resulted in solid first-quarter payroll growth, although joblessness in the Lone Star State was still higher than the national average. Moreover, inflation-adjusted headline wage numbers flattened compared with year-ago levels while initial unemployment claims surged unexpectedly. On the bright side, oil prices rebounded, contributing to increased export values. As Gov. Greg Abbott removed business restrictions amid downward-trending new COVID-19 cases, consumer confidence improved and supported an optimistic outlook on the service-providing sector. The relative health of the state’s economy and favorable business practices attracted migrants and firms from other parts of the country, bolstering population growth and housing demand. Containment of the pandemic is vital as additional waves of infection, although becoming less likely as vaccination rates increase, can weigh on consumer behavior and spending and slow the return to pre-pandemic conditions.

The Texas Nonresidential Construction Cycle (Coincident) Index, which measures current construction levels, ticked down due to declining construction put in place values. The statewide Nonresidential Construction Leading Index points toward further future declines in nonresidential construction activity, amid falling construction value starts. Click to read more at www.recenter.tamu.edu

Retail is Already Making its Comeback in Quickly-Growing Houston, Dallas, and Austin

Posted on by Sarah

After much of the national economy came to an abrupt halt at the beginning of the pandemic last year, Texan leaders were initiating plans to start reopening the state as early as May 2020. Then on March 2 of this year, Governor Greg Abbott signed a sweeping executive order that rolled back virtually all restrictions and superseded federal guidelines about business reopenings and best practices.

And while there was some ebb and flow to the ongoing challenges for retail throughout last summer and autumn, commercial real estate professionals in major Texas cities, including Austin, Dallas, and Houston, cite the state’s early reopening as one major reason why these retail markets have been able to bounce back rather quickly.

But there’s more to the story as each city has a different landscape and retail demands. Texas cities were affected just like others across the nation, but there’s now a perfect storm of pent-up consumer demand, investor interest, population growth and a general business-friendly sentiment that is brewing and lifting Texan retail to new heights. Click to read more at www.rednews.com.