Click here to access complete statistics and broker commentaries.

Houston Office Market

Houston’s commercial real estate market continues to achieve strong levels of absorption and construction activity as energy-related companies expand in proposed and under-construction projects, according to quarterly market research compiled by Commercial Gateway, the commercial division of the Houston Association of Realtors. Office net absorption of more than 1.5 million square feet occurred in the first quarter, representing the 12th quarter of positive absorption and about 1 million more than was recorded in the first quarter of 2013. Due to negative absorption in Class C and limited net absorption in Class B, Class A properties recorded more than the net total. Four new buildings delivered during the first quarter at a combined 87.4% leased. The largest were Energy Tower III, which started as a speculative project with Technip occupying the total 450,532 square feet in the Energy Corridor, and Anadarko moving into its new Hackett Tower building of 549,260 square feet in The Woodlands. Wallis State Bank’s almost 34,000 square feet in its location off the Beltway and C&J Energy’s 127,000 square feet in its new build-to-suit in Westchase combine to make up the almost 1.2 million of absorption from those four buildings alone. Other major move-ins during the first quarter, all in the west area, include Wood Group Mustang’s 186,000 square feet in Westgate II, joining Modec in its 147,000 square feet, and Atwood Oceanic’s 82,000 square feet in Energy Crossing II. Alliantgroup moved into its newly purchased 3009 Post Oak building, occupying 125,000 square feet, and JGC Corp. moved into 52,000 square feet in Granite Briarpark Green in the Westchase submarket. Continuing with the momentum of previous quarters, the majority of move-ins this quarter represented leases signed 12-24 months ago in buildings located in key areas. The year kicked off strong with five submarkets accounting for almost 2.0 million square feet of absorption, with the North/The Woodlands/Conroe submarket topping the list with 738,507 square feet, followed by the Energy Corridor at 573,326 square feet, Uptown with 263,151 square feet, the West submarket with 216,007 square feet and the Westchase submarket with 179,402 square feet. The Central Business District (CBD) did not fare as well, recording negative absorption in all classes. One recent positive for the CBD was Cheniere Energy’s reported signing of a lease for almost 170,000 square feet on eight floors in Pennzoil Place, doubling its office space downtown. Overall, the Houston under-construction office market boasts 50 properties with 74 buildings totaling almost 16.7 million square feet. Collectively, the buildings are 40.1% preleased, with 40 buildings classified as multi-tenant. The multi-tenant properties represent about 8.3 million square feet or 47% of the under-construction total and are about 17% leased. Four major brokerage firms are responsible for leasing 55% of the total available space under construction. Colvill Office Properties grabbed the largest share at 22.3%, PM Realty Group represents 13.2%, Stream Realty 10.0%, and Colliers International 9.3% of the square footage. The largest project under construction remains ExxonMobil’s 3 million-square-foot campus, while Phillips 66’s 1.2 million-square-foot campus in the Westchase area is the second largest project underway. The largest spec building under construction is Hines’ 609 Main at Texas building, at 1.05 million square feet. Geographically, the majority of space under construction is centered in the west/northwest area between the Beltway in Westchase to Interstate 45 to the north. Current totals show four submarkets will deliver 12.4 million square feet or 74% of the total square footage under construction. Including ExxonMobil, the North/The Woodlands submarket claims 12 properties with almost 5.4 million square feet followed by the Energy Corridor with 2.6 million square feet in seven properties. The Westchase area provides a total 2.4 million square feet in five properties, while the West has almost 2.0 million square feet in 10 properties. Developers are keeping the design teams busy as the list of proposed projects continue to grow even as a multitude of projects move off the proposed list and break ground. During the first quarter, 17 buildings totaling more than 3.6 million square feet have either broken ground or are starting site work. Collectively, these projects are 27.4% preleased. ExxonMobil’s two new buildings in The Woodlands totaling 665,000 square feet and Air Liquide’s two new headquarters’ buildings in Memorial City totaling 655,000 square feet are the two largest properties to break ground in 2014. ExxonMobil has committed to about 473,000 square feet or about 74% of the buildings in Hughes Landing for two different divisions, while Air Liquide has initially committed to about 37%, with options pending. Other projects have started in Westchase, all along the Beltway, in Uptown and the Inner Loop/Greenway Plaza area, and include Enclave Place, an 11-story, 301,000-square-foot building in the Energy Corridor that broke ground in April. Proposed projects scheduled to break ground from mid-summer through the end of the year include Westcreek Centre, a 21-story, 368,000-square-foot building inside Loop 610; Springwoods Village, a 125,000-square-foot building out of a 605,000-square-foot project in the North; and Nalco Champion’s 133,000-square-foot building in Sugar Land. Four larger buildings are reportedly getting closer to offering competition to 609 Main in the Central Business District: Crescent’s 6 Houston Center, a proposed 29-story, 605,000-square-foot building is set to break ground this summer; Skanska’s Capitol Tower, a 35-story, 750,000-square-foot building is currently undergoing site work; Brookfield’s Five Allen Center, a proposed 50-floor, 1.2 million square-foot building; and International Tower, a 42-floor, 750,000-square-foot project being developed by Stream and Essex. The latter two projects are in the planning phases. The current 11.1% vacancy rate is a slight improvement from the 11.3% vacancy recorded during the same quarter a year ago and from last quarter’s 11.2%. Class A space overall is at 8.0%, with the Energy Corridor boasting a Class A vacancy of 1.3% and a submarket average of 3.2%. Only two other submarkets, the North/The Woodlands and the West, are recording less than 5.0 vacancies in Class A space, 4.8% and 4.3%, respectively. However, even with a combined under-construction total of 10 million square feet between the three submarkets, the majority of that space is preleased. Averaged weighted rental rates at $24.41 have increased almost 5.0% during the past year when compared to the same quarter a year ago. Class A rates, now at $31.74 citywide and $37.06 in the CBD, have seen the largest increases as supply tightens. Most properties are now quoting net rates, with operating expenses rising as property values continue their upward trend; increased taxes, based on the 30% or more assessed values, will be passed on to tenants. Overall sublease space increased to almost 2.8 million square feet this quarter compared to 1.7 million square feet a year ago, which represents a 63.6% increase. Sublease space has seen gradual increases over the last year as tenants expanding opt to pay more and move into brand new office space; however, many of the better spaces are being leased quickly. The office market in late 2014 and 2015 could see millions of good-quality space become available, some as sublease space, after the major energy and oil and gas firms move into their new offices in their current under-construction buildings.

Houston Industrial Market

Houston’s industrial market continues to soar with strong positive net absorption of almost 2.1 million square feet during the first quarter of 2014, according to statistics released by Commercial Gateway. This quarter’s absorption represents the 17th consecutive quarter -- four years plus -- of positive absorption. This absorption is more than double the absorption recorded in the same quarter in 2013 and last quarter, and represents the lowest vacancy on record in recent years. Vacancy overall is 6.5%, down from the same quarter last year and from last quarter’s 7.1%. Manufacturing space has the lowest vacancy of 4.5%, with warehouse/distribution space current at 6.5% citywide. Warehouse/distribution properties continue to record the lion’s share of absorption with almost 1.5 million square feet of absorption this quarter, continuing a six-year trend of positive absorption. Major deals already this year include B&G Food’s 267,170 square-foot lease at DCT Airtex Industrial Center, Amazon’s 240,000-square-foot deal at Point North Cargo Park Building Two and Sunbelt Supply’s 185,168-square-foot deal at Carson Commerce Center Building 2. Properties classified as warehouse/distribution represent about 73% of the total market. Construction activity is still booming, with warehouse/distribution projects accounting for almost 7.9 million square feet, or 93.5%, of the buildings under construction. Currently, 81 buildings are under construction in 61 projects and represent almost 8.4 million square feet. The largest projects with multiple buildings underway are concentrated in the Northwest and Greenspoint areas. The five largest projects under construction which total at least 600,000 square feet each include Fallbrook Pines Business Park, Beltway Crossing Northwest, Fallbrook Distribution Center and Pinto Park all in the North/Northwest and 225 RailPort in the Southeast. More than 2.3 million square feet in 25 properties came online during the first quarter and are 52.8% leased. These new buildings accounted for more than 1.1 million square feet of absorption and included move-ins by Primesource Building Products in Century Plaza and partial occupancy for Weatherford Artificial Lift Systems in Katy. By comparison, in 2013, 99 buildings totaling almost 7.5 million square feet were completed and were collectively 45.6% vacant at year-end, absorbing almost over half of all space available. The largest properties completed in 2014 include Avera’s first 328,020-square-foot building in Imperial Distribution Center in the Greenspoint area, and totally available. Greens Crossing and Central Green, also in the Greenspoint submarket, reported several buildings completed and also available. Rental rates increased steadily during the past year but recorded a slight drop this quarter to $5.92 from last quarter’s $6.17 per square foot but this rate is still above the $5.77 rate recorded during the same quarter last year. Rental rates will continue to inch upward as long as supply remains limited. Sublease space decreased again this quarter to almost 1.4 million square feet from 1.9 million square feet last quarter and is slightly less when compared to the same quarter a year ago with 1.7 million square feet.

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Patsy Fretwell is a senior market analyst with Commercial Gateway and has more than 20 years of experience in real estate market research. She can be reached at patsy@commgate.com.

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Positive forecasts combined with continuous optimism was the consensus of participants during the 2014 CCIM Forecast Competition on Feb. 6 at Granite Properties’ newest building, Granite Briarpark Green, in Westchase. The annual competition offers two perspectives on market trends by local experts in the office, retail, industrial, land and multi-family markets. Sponsored by the CCIM Houston/Gulf Coast Chapter, a moderator for each land use kept the conversation flowing by asking specific questions of each participant.

Dr. Mark Dotzour, Chief Economist at the Texas Real Estate Center at Texas A&M University, offered a positive outlook for both Houston and the state. “The Houston business cycle index shows continuous growth with the energy/oil and gas sectors rate of growth slowing some,“ Dotzour said.

He said the reason we continue to grow in Houston and Texas is because of the environment where business leaders are welcoming. Most major employment sectors have experienced growth in the Houston metro area during the last 12 months, with retail trade and professional/business services growing more than 4%. Even government jobs are up slightly in the area.

Home sales in the area are up a total 18.8% from 2012, with the average sales price increasing 10.3%, according to the Houston Association of REALTORS®. The problem is a lack of inventory in both Houston and statewide, according to Dotzour, and part of the problem is lack of qualified labor to build houses. He explained if inventory doesn’t increase, “prices will go up so much, we will lose our competitive advantage of being able to live comfortably here.”

He cited several positive ways Americans are handling their incomes that are contributing to the economy:

  • Consumer confidence is increasing and personal consumption expenditures are increasing.
  • Consumers continue to pay down debt. This is the first time in 50 years that the personal debt has not risen.
  • Americans’ net worth has never been higher.
  • Household debt service payments, which determine the percent of disposable income, are decreasing so we have the ability to buy what we want.
  • Corporate profits and hiring plans are also up.

Land

land_team

Moderator: Frank H. Fitzgerald, CCIM, Senior Vice President, NewQuest Properties.
Contestants: Keith Edwards, SIOR, CCIM, Senior Vice President, Caldwell Companies, and David Marshall, Principal, ARA Land.

Both Edwards and Marshall agreed that land sales in 2013 were very active compared to the previous few years. They also agreed on the forecast for a “bright” 2014 market with pricing staying strong due to the positive economic conditions of job and population growth in the area.

Both noted strong land sales in both infill Houston and in the suburban markets, with the Northwest area, ranging from Interstate10 all the way to Highway 59 and up to Conroe, leading the way due to the ExxonMobil development. Investors, many from out of the state, have been active in the area since Houston is now being described as a “gateway” market, but the area’s job growth and population increases have fueled the expansive development.

Both competitors cited challenges to development:

  • Scarcity of good sites with utilities in place. However, even if utilities are available, many times the price is too high.
  • Rising costs of land and development materials
  • Competition from other developers, with many arriving from out of state.
  • Transportation issues, although the Grand Parkway extensions will open up all areas in the Northwest, especially in the 290 Corridor.

Marshall predicted higher costs for all land segments than Edwards, pricing midtown land per square foot 25% higher, $72.50 vs. $58.00, and suburban land sites from 100 to 250 acres 24% higher, $40,000 vs. $34,250 per acre. Edwards predicted 29,850 single-family starts in 2014, while Marshall predicted 32,000. However, Edwards believes more lots, 31,750, will be developed while Marshall said 26,500 lots will be developed.

Multi-family

multi_family_team

Moderator: Alan Patton, President, The Morgan Group.
Contestants: Ryan Terrell, Senior Director, Greystar, and Kenneth J. Valach, Chief Executive Officer, Trammell Crow Residential.

The consensus: Houston’s solid job growth and nation-leading population growth are spurring new apartment development throughout the Houston area. These well-paying jobs for new tenants are helping to support the increasing rents with few concessions. Both experts said they are seeing some softening in select markets but “we aren’t too worried” about over-building at this stage. The strongest markets in the city include the Medical Center, the Heights, Midtown, the Washington Corridor and The Woodlands.

Predicted rents this year range from $1.64 to $1.67 per square foot for Class A and from $1.08 to $1.12 for Class B. Terrell forecast apartment absorption to total 14,000 units with an 88.5% occupancy in Class A and a 95% occupancy in Class B, while Valach predicted absorption of 16,500 units and occupancies of 91.9% for Class A and 94.7% for Class B.

Due to Houston’s current “gateway” city status, the city has been on every investor’s radar and interest has been “extremely high” during 2013. Higher prices for new construction can be justified in the better markets, so investment activity will remain strong in 2014, they predicted.

Both contestants shared some trends they are seeing in the multi-family market:

  • Student housing is up, with more and more amenities being added.
  • Highrises are definitely on the rise.Apartment mix is changing to more one bedrooms.
  • More mixed-use environments are being developed along with senior developments.
  • More people are staying in apartments longer.
  • Tax incentives are assisting with increased multi-family development in the Central Business District.

Industrial

industrial_team

Moderator: Bill Byrd, CCIM, SIOR, Principal, Colliers International.
Contestants: Rusty Tamlyn, CCIM, SIOR, Senior Managing Director, HFF, and Justin E. Bennett, Regional Vice President, DCT Industrial

Houston’s industrial market is doing well, with occupancies as high as 95% for dock-high space, both contestants agree. They also noted one major change in the current tenant base: previously almost all space was leased by energy-related firms, but now more consumer-use players are occupying the warehouses along with the e-commerce tenants like Amazon, who require design differences including multiple racking systems. Consumer-use tenants supply consumer goods such as furniture, appliances and mattresses along with food companies like Ben E. Keith and Goya. The former industries will “explode,” requiring even more space, when home building increases, they said.

Both contestants predicted industrial space to be similarly leased in 2014, with occupancy ranging from 93.9% to 94.6%. Market rental rates forecast for dock-high space range from $4.62 to $5.16 per square foot with $5.00 to $6.25 tenant improvement costs allowed for Class A, and from $3.60 to $4.32 rents per square foot for Class B with tenant improvement costs projected at $1.75 to $5.00 per square foot.

Class A flex space is looking at rates from $9.25 to $10.80 per square foot while Class B is projected from $7.00 to $7.20. Tenant improvement costs for flex space are projected from $30.00 to $35.00 for Class A and $20.00 to $22.50 for Class B, with higher costs attributed to a trend toward more office space being completed in some projects. The two experts didn’t vary too much on absorption: Tamlyn predicts about 6.5 million square feet of absorption while Bennett predicts almost 6.9 million square feet.

Development continues by the local offices of national REITS, but now include joint projects with private or “merchant” builders. By the end of 2013, more traditional development was occurring. Since completing industrial projects is a lot quicker than other asset types, the probability of being overbuilt lessens, they said. However, if the private builders re-emerge, oversupply will need to be checked, Bennett said, although he pointed out that at least 30% of all space delivered in 2013 was pre-leased.

Both agreed the impediments to industrial development include both land pricing and land constraints, especially in the active Northwest market. Rising interest rates could also be a game-changer.

Retail

retail_team

Moderator: Abe Pacetti, Vice President, Regency Centers.
Contestants: Lance Gilliam, CRX SCSM, SCLS, CDP, Partner, Waterman Steele Real Estate Advisors, and Micha van Marcke, CCIM, Senior Vice President, Transwestern.

The Houston retail market expanded dramatically in 2013 with both grocery stores and strip centers being developed along with expansion by the big retailers like Target and Walmart. Contestants forecast 2014 to have similar occupancy rates of 93.3% to 94.1%, but varied on absorption with Gilliam predicting 1.6 million square feet and van Marcke almost 3.9 million square feet. Both brokers agreed on $16.50 per square foot as the asking rental rates for anchored center space. This year’s average sales price for product larger than 25,000 square feet also varied: Gilliam forecast $160 per square foot and van Marcke forecast $127.17.

Increased land values and development/construction costs are making it difficult to reconcile buyers and sellers. Industries that are expanding are all things that cannot be purchased on the internet. Items such as electronics and office products are becoming heavily sold on the internet but do require some “back and forth,” comparing internet pricing to brick and mortar store pricing but actually seeing the product at the latter store. Some downsizing by the major electronics and office supply stores has occurred.

However, van Marcke said there is a lack of supply in some submarkets with limited space coming on line, so the stronger markets are actually a landlord’s market. But for retail, everything is based on location and demographics.

Office
office_team

Moderator: H. Dan Miller, CCIM, SIOR, Senior Managing Director, HFF.
Contestants: Bob Parsley, SIOR, Co-chairman and Principal, Colliers International, and Jon Silberman, Principal/Co-managing Partner, NAI Houston.

Both contestants agree that 2013 was a tremendous year for Houston’s office market and believe 2014 will continue the pace with perhaps a slight pause in the oil and gas sector. They do not see overbuilding as an issue since so much space is pre-leased before construction is complete.

They predicted similar rental rates in both CBD and suburban but differ in the amount of absorption for 2014. Class A CBD rates per square foot are predicted to range from $38.00 to $39.21 and from $31.25 to $31.54 in the suburbs. Class B CBD rates will range from $25.50 to $25.56 per square foot and from $20.10 to $20.52 in the suburbs. Both predicted occupancy levels to be above 90% for Class A in both markets and above 89% for Class B in both markets. Absorption forecasts ranged from 3.8 million square feet to 5.0 million square feet.

The two office contestants said many of today’s tenants are looking for specific amenities including open concept in newer buildings, but cost is becoming a factor. For those who signed 10-year leases, they are definitely experiencing “sticker shock” when they look at renewal rates. The newer buildings are also providing LEED-certified spaces, which is a big factor today and could be a reason why Class B space has not seen as much improvement as many would have thought. Many of the older buildings lack the amenities of new buildings but tenants will eventually consider them when costs become more of a factor.

Although rents are rising, both contestants said many new buildings are being leased at similar rates offered by existing product, which is not the case in most other larger markets. They agreed that operating expenses have suddenly become less of a bargain as more buildings opt for net leases, so companies are having to become more efficient while some are even decreasing their square footage requirements. The major shift has gone to net rates as operating costs including utilities and taxes continue to increase.

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Diflucan No Rx

January 30, 2014

Click here to access complete statistics and broker commentaries. Diflucan No Rx, Houston’s commercial real estate market continues to achieve strong levels of absorption and construction activity as energy-related companies expand in proposed and under-construction projects, according to quarterly market research compiled by Commercial Gateway, the commercial division of the Houston Association of REALTORS®.

Houston Office Market

Office net absorption of 676,593 square feet occurred in the fourth quarter, bringing the year-to-date total to almost 3.4 million square feet, slightly below last year’s total of more than 3.5 million square feet. Class A buildings represented the bulk of absorption for the year at 3.5 million square feet. Class B buildings showed positive absorption for both the quarter and the year, while Class C properties ended both the quarter and year with negative absorption, which offset the solid positive for Class A overall. Diflucan interactions, Occupancies in new buildings completed in submarkets in the west, northwest and north sectors of the city contributed the most net absorption square footage. The largest single-building absorption for the year was Noble Energy’s move into its 497,447-square-foot, re-designed building in the Northwest, Diflucan No Rx. Buildings completed in 2013, which were all in the suburban submarkets, represented more than 2.5 million square feet, or 65.2% of the year’s total absorption. Major move-ins during the fourth quarter, all in the west area, include Geico’s 135,716 square feet in Mason Creek Office Center, where can i cheapest Diflucan online, Modec International’s 127,000 square feet and Atwood Oceanic’s 82,000 square feet in Energy Crossing II, Subsea’s 98,667 square feet and Houston Offshore’s 62,147 square feet in Westgate I, and in The Woodlands: Strike Energy’s 70,190 square feet and Layne Christensen’s 51, Diflucan from mexico, 152 square feet in One Hughes Landing.

Continuing with the momentum of previous quarters, the majority of move-ins for the quarter and the year represented leases signed 12-24 months ago in buildings located in key areas. Five submarkets accounted for more than 3.7 million square feet of absorption for the year, with the West submarket topping the list with 1.3 million square feet, followed by the Northwest at 764,580 square feet, the North/The Woodlands/Conroe submarket at 749,531 square feet, Uptown with 544, generic Diflucan,631 square feet and the Energy Corridor with 370,603 square feet. Diflucan No Rx, The Central Business District (CBD) did not fare as well, recording negative absorption in all classes for the year, but positive for the fourth quarter.

New buildings completed during the fourth quarter include seven of the 22 buildings completed year-to-date, accounting for 1.0 million square feet of the 3.9 million square feet added to the market this year. The largest buildings completed this quarter included Energy Crossing II at 321,508 square feet, Westgate I at 248,500 square feet and Westgate II at 186, Diflucan pharmacy, 375 square feet. As of fourth quarter, the 22 buildings completed in 2013 were collectively 79.8% leased with absorption totaling 2.5 million square feet. For the year, Energy Crossing II was the largest new building completed, followed closely by The Murphy Building, 320,000 square feet; BBVA Compass Plaza, 318,189 square feet; Granite Briarpark Green, Diflucan alternatives, 302,551 square feet; 3009 Post Oak, 302,536 square feet; and Research Forest Lakeside Building 4, 300,000 square feet. Also for the year, 16 of the 22 properties were located in the west or The Woodlands submarkets, Diflucan No Rx.

Twelve office projects totaling 4.8 million square feet broke ground during the fourth quarter, bringing the total under-construction building count to 61 buildings in 37 projects containing 14.1 million square feet. Low dose Diflucan, The majority of construction is still occurring in the west and north areas, but the CBD saw its first project, 609 Main at Texas, a Hines development, begin clearing land for actual construction to start in March. The largest projects to break ground include Phillips 66’s 1.2 million-square-foot campus in Westchase, Hines’ CBD project, and BHP Billiton’s 594,000-square-foot tower in Uptown. The west area, Diflucan australia, uk, us, usa, including the Energy Corridor submarket, boasts 11 projects totaling almost 3.6 million square feet, while The Woodlands/North submarket has nine projects totaling 4.9 million square feet under construction (includes 3.0 million square feet for ExxonMobil). Diflucan No Rx, Westchase has five projects totaling 2.0 million square feet under construction while the Northwest has three buildings totaling 996,000 square feet. The largest speculative buildings are Hines’ CBD building at 1.1 million square feet with no preleasing, Energy Center III at 547,628 square feet and completely pre-leased to Conoco Phillips, and Energy Tower IV, which offers 450, Generic Diflucan, 532 square feet and is 6% pre-leased.

The current 11.2% vacancy rate is an improvement from the 11.5% vacancy recorded during the same quarter a year ago and from last quarter’s 11.4%. Leasing activity has slowed but remains strong as many firms are negotiating expansion along with renewals.

Averaged weighted rental rates at $24.20 have increased 4.8% during the past year when compared to the same quarter a year ago. Class A rates have seen the largest increases, 4.6%, as supply tightens, Diflucan No Rx. Operating expenses will also be rising as property values continue their upward trend, and the increased taxes, based on the 30% or more assessed values, will be passed on to tenants.

Overall sublease space increased to 2.6 million square feet this quarter compared to 1.7 million square feet a year ago. Sublease space has seen gradual increases over the last year as tenants expanding opt to pay more and move into brand new office space; however, where can i order Diflucan without prescription, many of the better spaces are being leased quickly.

Houston Industrial Market

Houston’s industrial market continues to improve with strong positive net absorption of 3.2 million square feet, representing almost half of the total year’s 6.9 million square feet, according to statistics released by Commercial Gateway. Diflucan No Rx, This year’s absorption is slightly above 2012’s 6.2 million square feet of absorption, which continues to validate the strength of Houston’s industrial market. This quarter’s absorption represents the16th consecutive quarter -- four years -- of positive absorption. Vacancy overall is 7.1%, slightly down from last quarter’s 7.3%, but higher than the 6.7% recorded a year ago. Diflucan without prescription, Manufacturing space has the lowest vacancy of 5.2%.

Warehouse/distribution properties continue to record the lion’s share with 3.2 million square feet of absorption this quarter, continuing a six-year trend of positive absorption and accounting for more than 6.9 million square feet of absorption year-to-date. Contributing to the absorption included move-ins into build-to-suit (BTS) buildings by Igloo, 420,000 square feet, and Medline, 363,320 square feet, in each of their respective new Katy facilities, Diflucan No Rx. Other major deals include Frontier Logistics’ 600,000 square-foot lease at 225 RailPort; HD Supply’s 500,000-square-foot deal and The Reynolds Company’s 130,000-square-foot deal at Pinto Business Park. Several major leases were announced at the new Rampart Corporate Center including Goodman Manufacturing’s 299,840 square feet, Restoration Hardware’s 131, buy Diflucan no prescription,000 square feet, Spears Manufacturing’s 96,000 square feet and Sunbelt Marketing Investment Corp.’s 60,250 square feet. PrimeSource also signed for its 149,500-square-foot BTS building in Century Plaza. Properties classified as warehouse/distribution represent about 73% of the total market. Diflucan No Rx, Rental rates have increased 9.6% during the last year, when comparing this quarter’s quoted, weighted averaged annual rental rate of $6.18 per square foot to the $5.64 rate recorded a year ago. Rental rates will continue to inch upward as long as supply remains limited. Doses Diflucan work, Sublease space decreased this quarter to almost 1.9 million square feet from 2.3 million square feet last quarter and when compared to the same quarter a year ago with 1.7 million square feet.

Construction activity is booming, with warehouse/distribution projects accounting for almost 6.8 million square feet, or 87%, of the buildings under construction. Currently, 77 buildings are under construction in 50 projects and represent about 7.8 million square feet. The largest projects with multiple buildings underway are concentrated in the Northwest and Greenspoint areas and represent 75.4% of the space underway citywide, Diflucan No Rx. These major projects include Hines’ Pinto Business Park, DCT’s Northwest Crossroads, Clarion Partners/Trammell Crow’s Fallbrook Pines Business Park, effects of Diflucan, Panattoni’s Beltway Crossing Northwest, Avera’s Imperial Distribution Park, Levey Group’s Sam Houston Business Park, and IDI’s Greenspoint Business Center.

More than 2.2 million square feet in 23 properties came online during the fourth quarter; year-to-date, 111 buildings in 84 properties totaling almost 7.7 million square feet have been completed and are collectively 55.5% vacant. The largest properties completed in 2013 include Medline, 506, Diflucan from canadian pharmacy, 200 square feet; Ben E. Keith, 475,000 square feet; Igloo, 420,000 square feet; and Goya Foods, 400,000 square feet.

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Patsy Fretwell is a senior market analyst with Commercial Gateway and has more than 20 years of experience in real estate market research. She can be reached at patsy@commgate.com.
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Zoloft Price

January 10, 2014

Zoloft Price, The 2014 CCIM Commercial Real Estate Forecast Competition scheduled for Thursday, Feb. 6, provides one of the best opportunities to learn about the many factors affecting Houston’s complex real estate marketplace, Zoloft online cod.

The annual CCIM Forecast has become one of Houston’s best attended events for commercial real estate professionals. Online buying Zoloft hcl, Attendees hear seasoned industry leaders discuss market conditions as well as earn four hours of MCE credit.

Future market trends are predicted with a debate-style competition by local experts in the office, retail, where can i buy cheapest Zoloft online, industrial, Zoloft schedule, land and multi-family markets. In addition to the brokers discussing the various property types, the economic picture for the region and state will be presented by Dr, Zoloft Price. Mark Dotzour, Chief Economist of the Real Estate Center at Texas A&M University, purchase Zoloft, in a keynote address at 8 a.m. Zoloft natural, Conducted in a new location and newly completed building, Granite Briarpark at 3151 Briarpark Drive, the Forecast concludes at noon, buy cheap Zoloft.

Although the CCIM Forecast event is billed as a competition, Zoloft reviews, the event is more about a shared perspective. The presenters listed in the table below typically agree on most substantive points. Zoloft Price, But having two presenters approach the same topic from different perspectives provides additional insight into a large, complex set of markets. One presenter may be more optimistic and the other perhaps more pessimistic, Zoloft no rx, but the format creates a conversation that describes the markets in more detail than a matrix of market metrics and prognostications. Buy Zoloft from mexico, Make plans now to attend the CCIM Forecast Competition if you want to gain the knowledge to make better business decisions in the Houston and Texas Gulf Coast commercial real estate marketplace. Costs are: $75 for CCIM chapter members, $100 for non-chapter members and $10 for students, Zoloft maximum dosage. A $10 fee will be added after Feb. Zoloft dose, 3, and students must contact the chapter to receive the reduced rate. For more information, Zoloft without a prescription, contact Ginger Coleman, Zoloft description, (713) 783-0297, ginger@amchouston.com.

 
CCIM Commercial Real Estate 2013 Forecast Competitors



Land

Competitors: David Marshall of ARA Land and Joel C, fast shipping Zoloft. English of Siterra Properties

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December 9, 2013

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October 23, 2013

Click here to access complete statistics and broker commentaries. Armour No Rx, Houston’s commercial real estate market continues to achieve record levels of absorption and construction activity as energy-related companies expand in proposed and under-construction projects, according to quarterly market research compiled by Commercial Gateway, the commercial division of the Houston Association of REALTORS®.

Houston Office Market

Record-level office net absorption of more than 1.7 million square feet occurred in the third quarter, bringing the year-to-date total to more than 2.7 million square feet. Class A buildings in the suburban market represented 1.5 million square feet of the quarter’s total, with Noble Energy’s move into its 497, Armour over the counter,447-square-foot, re-designed building in the Northwest accounting for the largest single-building absorption. Other major move-ins, Armour coupon, all in West Houston, included Murphy Oil’s 207,000 square feet, Cameron International’s 138,000 square feet and Helix Energy’s 120, buy generic Armour,000 square feet. The Woodlands market also saw new space move-ins by Talisman Energy of 150,000 square feet and Clariant Oil and Gas occupying its two 32, Armour recreational, 000-square-foot buildings.

Although absorption reached record levels this quarter, the majority of those leases were signed 12-24 months ago, Armour No Rx. With the North, Northwest and West submarkets each recording more than 500,000 square feet of absorption, the momentum is clearly in the suburban market, Armour overnight. The Central Business District (CBD) did not fare as well, recording negative absorption in all classes during the third quarter, but several developers, Armour brand name, including Hines and Skanska, are looking at new construction in the near future.

Leasing activity appears to be slowing from its breakneck pace while small- to medium-sized tenants determine their best options. Some Class B and C buildings citywide are experiencing negative absorption levels as tenants move and expand into better space. Armour No Rx, New buildings completed during the third quarter include 11 of the 14 buildings completed year-to-date, accounting for 2.2 million square feet of the 2.8 million added to the market this year. These 14 buildings are currently 73.8% leased with absorption totaling 1.3 million square feet to-date, Armour canada, mexico, india.

Nine office projects broke ground during the third quarter, bringing the total under- construction building count to 53 buildings in 32 projects containing 9.4 million square feet. The majority of construction is still occurring in the west and north areas. Get Armour, The west area, including the Energy Corridor submarket, boasts 13 projects totaling almost 4.0 million square feet, while The Woodlands/North submarket has nine projects totaling 4.9 million square feet under construction; the latter includes the 3.0 million square feet for ExxonMobil. The largest speculative building, Energy Tower IV, offers 450,532 square feet and has no preleasing, although Noble Energy Center’s Building Two, at 456,000 square feet, is the largest to start this quarter, Armour No Rx.

The current 11.3% vacancy rate is an improvement from the 11.7% vacancy recorded during the same quarter a year ago but slightly higher than last quarter, Armour samples. Leasing activity has slowed but remains strong as many firms are negotiating expansion along with renewals.

Averaged weighted rental rates at $24.18 have increased 5.3% during the past year when compared to the same quarter a year ago. Class A rates have seen the largest increases as supply tightens. Armour No Rx, Operating expenses will also be rising as property values continue their upward trend, and the increased taxes will be passed on to tenants. Is Armour safe, Overall sublease space increased to 2.3 million square feet this quarter compared to 1.7 million square feet a year ago. Sublease space has seen gradual increases over the last year as tenants opt to pay more and move into brand new office space.

Houston Industrial Market

Houston’s industrial market continues to improve with strong positive net absorption, according to statistics released by Commercial Gateway. With a 15th consecutive quarter of positive absorption – as the last nine quarters averaged 1.5 million square feet each – the industrial market appears to have stabilized, order Armour no prescription, waiting for the next wave of new product to enter the market. Vacancy overall is up slightly from last quarter to 7.3%, compared to 7.2% a year ago, Armour No Rx. Manufacturing space has the lowest vacancy of 5.5%.

Net absorption in the third quarter totaled almost 980, No prescription Armour online, 000 square feet, which is less than the 1.3 million square feet recorded last quarter and the 1.4 million square feet recorded during the same quarter last year. Warehouse/distribution properties recorded the lion’s share with almost 624,000 square feet of absorption this quarter, continuing a six-year trend of positive absorption and accounting for almost 3.1 million square feet of absorption year-to-date, Armour street price. Contributing to the absorption included move-ins by Favorite Brands, Crane Worldwide and National Oilwell. Armour No Rx, Properties classified as warehouse/distribution represent about 72.7% of the total market. Leasing activity has included many renewals with some expansion such as Core Laboratories in West by Northwest Business Park. Armour long term, Rental rates have increased 10.1% during the last year, when comparing this quarter’s quoted, weighted averaged annual rental rate of $6.19 per square foot to the $5.62 rate recorded a year ago. Rental rates will continue to inch upward as long as supply remains limited. Sublease space increased slightly this quarter to almost 2.3 million square feet compared to the same quarter a year ago with 1.7 million square feet, Armour from canada.

Construction activity is still brisk, with warehouse/distribution projects accounting for almost 4.3 million square feet, or 80%, of the buildings under construction, Armour No Rx. Currently, 51 buildings are under construction in 39 projects and represent about 5.3 million square feet. The largest projects with multiple buildings underway are concentrated in the Northwest and Greenspoint areas and represent 75.4% of the space underway citywide. These major projects include Beltway Crossing Northwest, Imperial Distribution Park, Rampart Corporate Center, Sam Houston Business Park, and Greenspoint Business Center.

Several new business park projects have been announced in the Southwest sector as existing business parks fill up while a couple buildings broke ground in early October in Hines’ major industrial project, Pinto Ranch, in the Greenspoint area. Armour No Rx, More than 2.4 million square feet in 39 properties came online during the third quarter. Year-to-date, 71 buildings totaling almost 5 million square feet have been completed and are collectively 68.4% vacant.

###


Patsy Fretwell is a senior market analyst with Commercial Gateway and has more than 20 years of experience in real estate market research. She can be reached at patsy@commgate.com. .

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September 25, 2013

Zoloft Cost, The 16th Annual South Texas College of Law’s Commercial Real Estate Course is a “must-attend” event for real estate brokers who practice in any segment of the real estate industry. Zoloft no prescription, Expert speakers on all facets of commercial real estate highlight the course scheduled for October 10-11 at the downtown campus. The two-day course offers a wide variety of programs covering the status of the various commercial markets and the state of today’s economy, buying Zoloft online over the counter. Zoloft duration, The programs provide attendees with 17 MCE credit hours (pending approval) and practical tips and tools to ensure ethical and successful negotiations.

Members of Commercial Gateway receive a discounted registration rate since the course is sponsored in part by the Commercial Division of the Houston Association of REALTORS®, buy Zoloft online cod. Plus, in an effort to make the program more accessible to newcomers, members licensed less than 5 years receive an even lower rate, Zoloft Cost. Taking Zoloft, Tuition Options:

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Law Students - registration fee waived. Course materials may be purchased for $25, Zoloft trusted pharmacy reviews. About Zoloft, Conducted in conjunction with the Real Estate Center at Texas A&M University, the Commercial Real Estate Course provides 17 MCE hours required by TREC as well as TREC-mandated legal and ethics courses, Zoloft dangers. Zoloft gel, ointment, cream, pill, spray, continuous-release, extended-release, The course is also accredited by the State Bar of Texas for 14.5 MCLE hours, including 2.25 hours of legal ethics (pending approval), Zoloft pics. Zoloft photos, To register online, visit www.commgate.com and click on our “Upcoming Events” tab or visit www.stcl.edu and click on “Continuing Legal Education” and then “Live Courses” under the Quick Links section, order Zoloft from mexican pharmacy. Where can i find Zoloft online. Zoloft treatment. Buy cheap Zoloft no rx.

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September 18, 2013

Tramadol Price, National consumer confidence is rising in spite of the federal government’s actions, according to Dr. Harold Hunt, Tramadol cost, a research economist with Texas A&M University’s Real Estate Center. Hunt recently presented an overview on the current economic outlook for real estate decision makers to the Commercial Real Estate Research Forum at HAR.


Opening the presentation with a slide titled “(Most of) the Federal Government is Still Broken,” noting “The NSA (National Security Agency) as the only part of government that actually listens, real brand Tramadol online,” Hunt then provided a multitude of statistics and surveys to support his economic outlook.


Focusing on three areas of the economy that could affect commercial real estate, Japan, craiglist, ebay, overseas, paypal, Hunt asked his No.1 question: Is lingering uncertainty over 'Obamacare' holding back the economy?


Saying no one knows for certain how health care premiums will be affected, Hunt then cited several major health care providers as projecting consumer premium increases ranging from 40% to 116%. The major providers included United Healthcare, online Tramadol without a prescription, Aetna and Blue Cross & Blue Shield.


Regarding new hiring, Cheap Tramadol no rx, however, he cited several studies refuting the belief that uncertainty over health care will adversely affect new hiring. A recent survey by the National Federation of Independent Business reported that a majority of small businesses believe now is a good time to expand and plan on hiring people in the next three months, where to buy Tramadol. Another group reported that 32% of companies surveyed said they would be hiring for more new jobs within the next six months; 26% reported hiring for fewer jobs, Tramadol Price. He also reported that some industries were cutting back workers’ hours to avoid the health care issue but others were attributing cutbacks to lack of demand.


Hunt detailed recent statistics which show consumers are spending more money while holding down their household personal debt and keeping personal savings solid. Discount Tramadol, On the corporate front, banks are reporting stronger loan demand from both large and small firms.


The No. 2 economic harbinger could be the effect on cap rates: Will they increase as much as projected interest rates, herbal Tramadol. Hunt described cap rates as “just a ratio” comparing net operating income divided by purchase price, Tramadol class, but said major factors affecting cap rates include the cost of capital, equity’s required rate of return, and certainty and direction of annual property income, comprar en línea Tramadol, comprar Tramadol baratos. He explained that cap rates are perceived to align with interest rates but the reality is that rent and/or income cannot always be increased.


Tramadol Price, The No. 3 issue: With the slowing of oil and gas employment, Ordering Tramadol online, is the U.S. economy becoming a drag on Texas and Houston. Hunt said the federal government is hurting some industries such as manufacturing by holding back jobs due to regulatory and tax laws, buy Tramadol online no prescription. However, Tramadol mg, after analyzing each industry’s growth rate derived from Texas Workforce Commission numbers, Hunt showed the Houston Metropolitan Statistical Area (MSA) outperforming the state and nation in the majority of industry categories.


Houston experienced employment growth in all industry categories but one during the past 12 months, according to the Texas Workforce Commission, Tramadol for sale. The Construction industry reported the largest gain with a 7.4% rate increase followed by the Leisure and Hospitality industry at 5.7% and the Mining and Logging industry at 5.5%, Tramadol Price. The category Other Services recorded the only negative for Houston at -1.5%. Order Tramadol online overnight delivery no prescription, Other Services includes those employed in the repair industries, such as car repair, etc., which reflects consumers buying new items rather than repairing older items, Hunt explained.


Concerning the area’s overall job growth, the Houston MSA posted a 3.6% job growth rate for the past 12 months, ranking sixth among Texas MSAs. At the top of the list is Midland at 6.2% followed by Odessa at 5.2%, Fort Worth at 3.9%, and Corpus Christi and Dallas at 3.7%.


Ranking the Texas MSAs Job Growth

Past 12 Months Ending July 2013


11111


Source: Texas Workforce Commission


Hunt’s overall conclusions for the nation are:



  • Interest rates are likely to increase as the Fed talks more about slowing their bond purchasing (but local cap rates may not be greatly affected).

  • The national economy keeps improving, barring any unexpected international economic downturn.

  • More inactivity from federal government stifles any hope of a robust economic recovery by the American public.

  • Look for slow, positive job growth in 2013-2014.

  • Unemployment should continue trending down.

  • Despite government inaction, business decisions do seem to be occurring.


With regard to Texas and Houston, Hunt’s conclusions are:



  • The sluggish U.S. economy doesn’t seem to be having a marked effect on our state and local economy.

  • Besides manufacturing, other job sectors do seem to be stepping in for slower oil and gas employment.

  • As a result, all areas of commercial real estate should continue to perform well over the next year.


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August 5, 2013

Synthroid Mg, ReBuild Houston is the city’s long-term solution to funding capital improvements within the city. Incorporating a funding mechanism that establishes a pay-as-you-go program with no new debt or interest. Funding increases as old debt is paid, Synthroid wiki, according to Dale Rudick, Deputy Director of the City’s Public Works and Engineering Department and Executive Director of ReBuild Houston. Rudick recently explained the program during a presentation at a local CCIM chapter meeting.


Approved by the voters in November 2010, ReBuild Houston funds specifically cover street and drainage infrastructure, order Synthroid from United States pharmacy. Rudick said is it unlike any other capital program in the country with respect to its funding mechanics, methology for implementation, Buy no prescription Synthroid online, and transparency. With no new debt occurring, Rudick said the current debt will be exhausted soon after 2030, when all funds will then be available for active projects, Synthroid Mg. The city anticipates substantial increases in funding by 2020 due to debt repayment.


ReBuild Houston’s four funding sources provide restricted uses for each fund.


1. Drainage Utility Fee – Implemented in 2012 as an annual fee based on the square footage of actual impervious surface (hard area) determined by the use of digitized mapping data. Impervious surface means any area that does not readily absorb water, Synthroid dosage, such as buildings, decks, Synthroid forum, patios, driveways, and other covered areas. Properties are classified into two categories, after Synthroid, residential or non-residential, with applicable fees charged annually. This funding source has accounted for approximately $235 million to date.


Synthroid Mg, 2. Is Synthroid addictive, Developer Impact Fee – Approved in October 2012 and set in April 2013. The collection of fees will start in April 2014. Unlike the Drainage Utility Fee, the impact fee is regulated by the state and will be a one-time fee, Synthroid use. Primary uses include drainage projects providing capacity to offset future development and street projects providing added capacity for future development.


3. Ad Valorem Taxes – Property taxes, one of the primary funding sources for capital improvements before ReBuild Houston, were used to pay off bonds issued to pay for construction, Synthroid Mg. Currently 11.8 cents of every $100 of property value collected from property owners is going to pay off the debt incurred on previous street and drainage projects. Where can i buy Synthroid online, As the debt is paid off, the balance of funds from the 11.8 cents reserved by the city will go toward funding new street and drainage projects. And as Rudnick pointed out, there is a bonus: “new projects will be paid in cash, kjøpe Synthroid på nett, köpa Synthroid online, which means taxpayers will get about twice as much product for every dollar” since interest is no longer an issue.


4. Third-party Funds – includes funds from Metro, Synthroid pictures, TxDOT, federal government and other traditional governmental sources. Due to budget restraints, these monies have decreased substantially in recent years but can be used for the most diverse uses, what is Synthroid, including sidewalk projects, hike and bike trails, Rx free Synthroid, and traffic signalization projects.


ReBuild Houston is an extension of the current Capital Improvements Program, with a 10-year tool complementing the current five-year program. Proposed needs are identified and prioritized based on comprehensive, citywide data, Synthroid used for. A pre-engineering analysis is conducted; project prioritization is based on a benefit-to-cost ratio, with the highest rated projects continuing in the program.


For more information, Synthroid blogs, check out the group’s website, www.rebuildhouston.org. The site features an interactive map that displays a 10-year plan for streets and drainage with projects searchable by address or zip code.


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July 24, 2013

Click here to access complete statistics and broker commentaries. Buy Cipro No Prescription, Houston’s commercial real estate market continues to achieve record levels of leasing and construction activity as major energy-related companies sign up for large spaces in proposed and under-construction projects, according to quarterly market research compiled by Commercial Gateway, the commercial division of the Houston Association of REALTORS®..

Houston Office Market


In the suburban market, Conoco Phillips signed for 850,000 square feet in Energy III and IV, Technip took all 430,000 square feet in Energy Center III, and Swift Energy reportedly signed for the 235, cheap Cipro,000 square feet in proposed Five Chasewood Park. Other energy-related firms, such as Southwestern Energy and Chevron, opted for owner-occupied properties. Southwestern broke ground on its 515, Cipro price, 000-square-foot headquarters in North Houston, while officials with Chevron announced its plans for a new 1.7 million square-foot building at 1600 Louisiana in the Central Business District (CBD). Plans for the new building will be finalized in 2014, with occupancy scheduled for late 2016. Chevron will add the third tower adjacent to its current buildings at 1400 Smith and 1500 Louisiana, creating a downtown campus complete with employee amenities such as dining, fitness, training and conference facilities, Buy Cipro No Prescription. These new announcements follow the first quarter’s news of BHP Billiton’s new 560,000-square-foot headquarters building in Uptown and Phillip 66’s multiple-building campus of 1.1 million in Westchase, among others, purchase Cipro for sale.

Current office construction has reached an all-time high of 10.5 million square feet, representing 36 projects and 57 buildings. ExxonMobil’s estimated 3 million square feet and 22 buildings top the list for overall size. Multi-tenant buildings under construction are currently reporting an average 70% preleased, and 20 buildings representing 3.5 million square feet are scheduled to be completed during the second half of the year in several submarkets. Buy Cipro No Prescription, The majority of construction is occurring in the north and west areas, with The Woodlands submarket boasting 13 projects totaling 5.5 million square feet under construction, while the West area, including the Energy Corridor submarket, has 11 projects totaling 3.3 million square feet under construction. Australia, uk, us, usa, Several other projects, primarily in the submarkets to the west and north, including Westchase, are in the planning stages and are scheduled to break ground later this year.

Although large leases continue to be announced, overall leasing activity in existing spaces has slowed as small- to medium-sized tenants determine their best options. The city’s office market finished the second quarter with a total of 528, purchase Cipro online,962 square feet of positive net absorption, which marks the ninth consecutive quarter of positive absorption. The total absorbed this quarter compares to about half the absorption recorded in the second quarter a year ago. Class A space represents the majority of space absorbed, 773,048 square feet, and accounts for tenants moving into spaces leased late last year or earlier this year, Buy Cipro No Prescription. Both Class B and Class C recorded negative absorption, with Class C showing negative activity for the third consecutive quarter. Online buy Cipro without a prescription, Only one submarket, the Northwest, recorded positive net absorption of more than 100,000 square feet during the second quarter, primarily due to the absorption upon completion of one building, Sam Houston Crossing Two. Uptown recorded an absorption total of 90, Cipro images,003 square feet, also in part due to the new BBVA Compass building coming online with occupied space. Both new buildings were 70% preleased. Buy Cipro No Prescription, CityCentre IV is the only other multi-tenant building to come online during the second quarter at 91% preleased.

The CBD submarket recorded positive absorption of 127,906 square feet for the quarter but a total negative 64, Cipro pictures, 075 square feet of net absorption for the first half of the year. Class A space absorbed resulted from deals completed previously with move-ins this quarter. No major new office buildings have broken ground in the CBD this year, but several announcements from developers, including Hines and Skanska, are on the horizon.

The current 11.2% vacancy rate is an improvement from the 12.1% vacancy recorded during the same quarter a year ago, Cipro over the counter. Leasing activity has slowed but remains strong as many firms are negotiating expansion along with renewals but are not finding the larger blocks of space, especially Class A space, required, Buy Cipro No Prescription.

Averaged weighted rental rates have increased 2.5% during the first quarter compared to a year ago to stabilize at $23.21 per square foot. Class A rates have seen the largest increases as supply tightens. Operating expenses will also be rising as property values continue their upward trend, and the increased taxes will be passed on to tenants.

Overall sublease space increased to 2.0 million square feet this quarter compared to 1.7 million square feet last quarter. Buy Cipro No Prescription, Sublease space has seen gradual increases over the last year as tenants opt to pay more and move into brand new office space. What is Cipro,

Houston Industrial Market


Houston’s industrial market continues to improve with strong positive net absorption, according to statistics released by Commercial Gateway. With a 14th consecutive quarter of positive absorption – with the last eight quarters averaging 1.5 million square feet each – the industrial market appears to have stabilized, waiting for the next wave of new product to enter the market. Vacancy overall is down slightly from last quarter to 6.9%, compared to 7.5% a year ago. Manufacturing space has the lowest vacancy of 5.4%, fast shipping Cipro. More than 1.2 million square feet in 17 properties came online during the first quarter, entering the market collectively at 74.5% preleased, Buy Cipro No Prescription.

Net absorption in the first quarter totaled 1.375 million square feet, which is slightly less than the 1.4 million square feet recorded during the same quarter last year. Warehouse/ distribution properties recorded the lion’s share, with almost 1.7 million square feet of absorption this quarter, continuing a six-year trend of positive absorption and accounting for almost 2.5 million square feet of absorption for the first half of the year. Cipro used for, Properties classified as warehouse/distribution represent about 72.7% of the total market. Leasing activity this quarter included Favorite Brand’s 91,000-square-foot lease at 9010 W. Buy Cipro No Prescription, Little York, Primesource’s 150,000-square-foot lease for a new Century Plaza building, and Deep Down’s commitment of 215,000 square feet at 18511 Beaumont Highway.

Rental rates have increased 9.5% during the last four quarters, based on this quarter’s quoted, weighted averaged annual rental rate of $6.13 per square foot compared to the $5.60 rate recorded a year ago. Rental rates will continue to inch upward as long as supply remains limited, Cipro use. Sublease space increased this quarter to almost 2.2 million square feet after four previous quarters of 1.7 million square feet.

Construction activity is still brisk, with warehouse/distribution projects accounting for almost 6.2 million square feet, or 90%, of the buildings under construction. Currently, 66 buildings in 53 projects totaling about 6.8 million square feet are under construction, with the two largest being Imperial Distribution Park at 611,000 square feet and Medline’s new building at 506,200 square feet, Buy Cipro No Prescription. Cipro no prescription, Crane-ready buildings are still in short supply, with only four projects totaling 105,286 square feet classified as manufacturing.

Of the overall total, 40 projects are scheduled to be completed during the last half of 2013. About 35 projects totaling 2.6 million square feet have been completed this year, compared to 50 projects totaling 2.7 million square feet completed in 2012, Cipro without a prescription. Ben E. Buy Cipro No Prescription, Keith’s 475,000-square-foot building in the Southwest is the largest completed to date; employees will continue moving into the space during the third quarter.

The majority of industrial construction is occurring in the Northeast, Northwest and West segments centered along Interstate 10 and along the Beltway. Several of the largest multi-tenant and multi-building business parks underway include Rampart Business Park’s Phase I and II totaling 432,163 square feet being leased by CBRE, Transwestern’s five buildings at Mason Creek Business Park totaling 384,900 square feet and Carson Companies’ three buildings at Commerce Center totaling 365,462 square feet. Carson Companies also started a speculative 365,727-square-foot building in Bayport North, and DCT Industrial started two buildings, one in the Greenspoint area and one in the Northwest.

###


Patsy Fretwell is a senior market analyst with Commercial Gateway and has more than 20 years of experience in real estate market research. She can be reached at patsy@commgate.com. .

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