Foot traffic in Houston is up significantly and ranks among the highest in the nation, according to two high-frequency leading indicators.
Grants and Loans for Small Business -
What data says about the next few years in Commercial RE
While we’re not necessarily “downers” or totally pessimistic about where our economy is headed now, there are hard facts and data that point to interesting few years ahead in our market. As always, please look at this at a macro level, as your particular community or industry (most notably medical) may have other trends.
Bought or Sold property during the year? Read to save on Taxes
As you go through your regularly-scheduled year-end financial review - and if this is your first time, congratulations on getting it on the schedule! - it’s worth remembering that Uncle Sam does provide a deduction for any and all real estate taxes, as well as interest, that you have paid during the year.
Howard Hughes to move its HQ to The Woodlands - and will sell $2B in assets
The publicly traded developer of expansive, master-planned communities announced the plan Monday a few months after it revealed it was conducting a thorough strategic review of its business, including the potential sale of the company. Howard Hughes also named a new CEO and said it would relocate its Texas headquarters from Dallas to The Woodlands to reduce annual overhead expenses by $45 million to $50 million.
What $2MM Can Buy in Commercial Real Estate
Anadarko no more - now what?
TJ Maxx signs 100k sqft deal in NW Houston
TJX Companies Inc., the Framingham, Massachusetts-based parent company of T.J. Maxx, leased 96,597 square feet in Pinto Business Park, as published by CoStar today.
The off-price apparel and home fashions retailer is set to move into the park in December, according to CoStar data. The deal was finalized last month.
TJX's lease is in the 501,349-square-foot building at 600 Fallbrook Drive in Pinto Business Park. Other tenants in the building include Raleigh, North Carolina-based Kitchen Cabinet Distributors and Charlotte, North Carolina-based VS America, a manufacturing company that caters to schools and offices, according to CoStar data.
Nuveen owns 600 Fallbrook Drive. The Chicago-based firm, which was acquired by TIAA-CREF in 2014 but retained its branding, bought three buildings from Hines in Pinto Business Park in 2016. Hines has been developing Pinto Business Park since 2014. When it is complete, the 971-acre business park will accommodate up to 7 million square feet of industrial, manufacturing and corporate campus space, according to Hines. The park is located at the northeast corner of Interstate 45 and the Sam Houston Tollway in north Houston.
Coca-Cola Southwest Beverages is building a $250 million, 1 million-square-foot facility at Pinto Business Park to consolidate its operations. The plant is the first Coca-Cola production facility constructed in the United States in more than a decade.
Houston’s population has been steadily growing in recent years. Between 2017 and 2018, the Houston metropolitan area gained 91,689 new residents, according to U.S. Census Bureau data. That was the third-largest single-year population gain of any U.S. metropolitan area.
And Houston’s industrial market has remained robust in recent years. Houston recorded industrial deal sales volume of more than $3 billion in 2018, according to CoStar data. Houston also has just under 13 million square feet of industrial space under construction.
Following the Money - Healthcare as a RE Opportunity
Healthcare-related real estate is shifting from being a specialty asset class to a core asset class by investors. With the current market uncertainty hovering across most of consumer, service and industrial aspects of the economy, both accredited and sophisticated Investors are looking to capitalize on the trend and betting on healthcare, an area that tends to be insulated from economic ups and downs.
Houston Furniture Store to Close prime location on I-45
Big-box retailers such as Toys R Us, Babies R Us and Payless Shoe Source have closed stores in recent years after filing for bankruptcy because of fierce competition from e-commerce businesses and the rise of online shopping. This furniture shop is calling it quits and has placed its 60,000 sqft storefront on the market.
The twin towers of Anadarko - what's the next chapter?
Since we moved to The Woodlands in 2001, we’ve always known that we’re close to home when we could see the Anadarko tower (now towers) from the highway. With the bidding war now over - and with Chevron about to walk away with $1B as a breakup penalty - all kinds of rumors and speculation are out on the grapevine trying to guess to find out what will happen to these iconic buildings.
Move over, La Torreta - here comes Margaritaville
Alight Solutions gets Property Tax Break
The Woodlands Township approved - on a 3-1 vote - a descending tax abatement for Alight Solutions, an HR outsourcing company owned by private equity firm Blackstone Group (BX).
Ironman Texas is here
CB&I building in The Woodlands has a new tenant (and presumably a new name)
Ikea buys 144 acre property in Houston area
Ikea purchased just over 144 acres of land in McCord Development’s master-planned Generation Park in Houston, according to documents filed with the Harris County Clerk's office. The long-rumored deal is the Swedish furniture giant’s second in the city in two years.
Save on your Property Taxes Today - A Refresher on the Homestead Exemption
One of the most common tax benefits of home ownership (outside of mortgage interest) is the Homestead Exemption for your primary residence. Surprisingly, it is often ignored and/or misunderstood by homeowners. Simply put, the Homestead Exemption reduces the taxable value of your home, resulting in a lower property tax bill.
