Houston Office Space Market

Integra Realty Resources recently conducted a study that determined that the Houston office space and suburban market will grow well into the year 2011. This includes office space in the Houston’s downtown and surrounding areas. This is great news that has many Houston Commercial Realtors, specializing in the commercial sector, excited.

According to Integra Realty Resources Houston’s downtown office space will expand by 14% within the next four years. This means that over six million square feet of office space will be built. The current amount of Houston space that is in existence is estimated to be around 43 million square feet.

The rate, at which Houston office space is predicted to expand, ranks Houston as the fourth city, in the United States, for construction in the downtown. To be ranked fourth, is a great honor that proves how strong Houston commercial development is. The cities that were also listed in the top ten were Miami, Chicago, Seattle, Charlotte, Nashville, Boston, Salt Lake City and Washington D.C.

The report stated also that the suburban market of Houston will grow by 3.5 percent over the next four years. In the next four years, it is estimated that over 6 million square feet will be built. Houston’s current suburban market consists of 189 million square feet.

The city of Houston is expanding in many profitable ways. Throughout the next four years is the prime time to invest in the Houston suburban and office space market. The Houston commercial real estate market is really hot right now. This is why so many real estate investors are flocking to the Houston area.

Houston Commercial Real Estate

DFJ Mercury, a Houston-based venture capital firm, is heating up the Houston, Texas real estate market. For the past three years the firm has been responsible for investing in six start-up technology-based companies, in the Houston area. Three of these companies revolved around technology and the other three companies are focused on bioscience.

DFJ Mercury has invested, in each company, between $100,000 to one million dollars. The firm is known for investing in early-stage or seed companies in Houston. DFJ Mercury, in the future, is interested in investing in larger endeavors. New Houston industrial space has been created from the six new technology-based companies newly operation in Houston.

One of the managing partners of the firm is Blair Garrou. Garrou, in the past, was largely responsible for launching the Houston Technology Center. The Houston Technology Center operates as an incubator for start-up or emerging technology-based companies. Garrou was also involved in the creation of the Houston Angel Network, which is an investment organization.

Houston commercial real estate will not be the same, as DFJ Mercury, continues its trend, investing in even more start-up and larger technology-based companies. The firm was started just three years ago and has already created a wave in industrial development.

Houston, Texas is a vibrant city that has a booming economy. DFL Mercury is just one among many investors that is interested in investing the Houston area. Many real estate experts predict that this surge in commercial development will continue for many more years to come.

Houston Industrial and Commercial Real Estate

Houston, Texas has become an extremely popular city throughout the past ten years. Many professionals have relocated to the area because of the increasing number of prosperous business opportunities.

In several parts of the country the real estate industry has been experiencing a slump. There are a few exceptions to this though, Houston being one of the rare exceptions. The city of Houston, Texas is thriving with profitable commercial real estate ventures.

There was recent news of an $11.5 million dollar sale of an industrial complex in the city of Houston, Texas. This prime Houston industrial space consists of five expansive buildings.

The industrial complex was sold by the West Ten Development LP. This valuable piece of Houston commercial real estate is located along Barker Springs Road in the city.

The sale was part of a 1031 exchange with a company known as InSite Commercial Real Estate. The industrial complex was sold for $45.50 per square-foot or an impressive grand total of $11.5 million dollars.

The industrial complex contains five buildings, situated on seventy acres of land. The industrial center has an occupancy rate of ninety-three percent.

This complex is known as the Park Ten Service Center. The five buildings range in size from eighteen thousand square feet to one-hundred thousand square feet.

The sale of the Park Ten Service Center was big news for the Houston commercial real estate market which proves to be vibrant and strong. Both the buyer and the seller were represented by Jeffrey Barbles