WorkSpace Commercial Real Estate

Presidential candidate came out with his proposal for climate change today. While specific actions are not enumerated in this proposal, the desired result is clear. There is a concerted effort to move past fossil fuels as a resource. What happens to Houston if a proposal like this were ever implemented?

2019 State of the City Houston Office Market Analysis by James Robertson Jr. Managing Broker for Workspace Commercial Real Estate.

Welcome to the First Annual Workspace Real Estate State of the City of Houston’s Office Market Analysis. This video will discuss Houston office rent trends, economic trends, new developments and everything you need to have an understanding of where we are headed as a City compared to the rest of the country in regards to office space.

To kick things off, I have to tell you that the talking heads, Wall Street, and Fortune 500 companies are worried about Houston. Let’s talk numbers for a second:

In 2019:

- We had just 2.9 Million sf of new office space built to the market

- 2.1 million sf of existing office space leased out by new tenants

- A Vacancy rate of 16.9% (the second highest in the country). This is not a race that we want to win (lol)

- Annual rent growth of just 1% in the last year. (If you are hearing this and about to sign a new lease, you need to talk to your broker, show him this report and have him/her explain how they are planning to tweak your negotiation strategy.).

Houston based business that is leasing office space, hear me and rejoice because this is a tenant market and will be for several more quarters based on the historically low rent growth we have been experiencing, low construction, and the second lowest vacancy rate in the nation at over 16% . That is City wide, not its important to note that one city, but several large markets. Landlords in the Woodlands or Katy are going to negotiate ALOT harder than Southwest Houston market or Greenspoint because Vacancy is lower, and their rent growth is almost double those other markets. Subscribe to this channel as we will break down each market in the Houston area so that we can go into this in great detail.

In today’s episode we’re going to going to detail whether or not you should focus on buying existing properties for your business or developing a custom piece for yourself.

In this episode we talk about leasing office space and industrial space in major markets like Houston that are hard to lease. I’m talking about close to the hood, bunch of empty spaces, and you have his dream and you’re going to be the market. Maybe you can be that guy, or maybe you’ll be broke trying. Listen and find out where you’re headed :-)

In today’s episode we are discussing why you should not focus on the proposal when countering the landlord. Instead you should be focusing on the market and your own negotiation strategy. This podcast is great if you’re trying to figure out how to renegotiate your lease for office industrial or retail space in major markets like Houston

Thanks for watching this is James with workspace commercial real estate and today we are going to talk about what to do once you have a tragic incident like a flood or fire in your commercial property that you were leasing from.

From a purely commercial real estate perspective, this political initiative could have substantial and lasting affects not only on the medical center, but Houston’s entire commercial real estate market. Listen to this post and let us know your thoughts.

Working inside a large entity can be tough because you are so large that your always negotiating like you are the center of the universe. It is critical when negotiating to see and quantify what this deal means for the landlord. In many case, getting an enterprise or government tenant will magically turn a property into “rock solid” investment vehicle for that owner, making it infinitely easier for them to sell at a premium to tons of buyers looking for safe places to park their money. Understand what your tenancy will do to their value and negotiate accordingly. If you just look at things from a market perspective or what your own leasing goals are you may be leaving a substantial amount of value on the table. Also, the last thing you want is to have a reputation for being a pushover in negotiations, brokers talk, and if they get the idea that your a pushover they will run the score up overcharging you in rent and not giving you the flexibility that you should command on your lease

Subway franchise owners are in trouble because Subway is with “good enough” and not great retail placement.