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June 22, 2021

Commercial Property Values Still Rose In Houston During The Pandemic

[Digital Summit] What vision do Texas' top industry leaders have for the future? Herbert Weitzman & Blake Cordish talk June 23

Commercial property values in Houston have been rising by double-digit percentages for several years. That upward trend held true throughout the intensity of the coronavirus pandemic. Commercial property values in Houston rose across nearly every asset class at the beginning of 2021.

The majority of commercial real estate owners in Harris County protest their appraisals each year to try and curb rising property taxes. But after last year’s economic roller coaster, tax experts say the number of people looking to appeal their valuations is on the rise.

Commercial Property Values Still Rose In Houston During The Pandemic

Despite the economic disruption caused by the pandemic, commercial property values rose by 9.3% on average at the beginning of 2021, according to Harris County Appraisal District data covering the 107,347 commercial property parcels in the county.Certain types of real estate received a larger bump than others. Warehouse property…

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This Week’s Houston Deal Sheet

This Week’s Houston Deal Sheet  

Custom Goods has leased 353.6K SF of industrial space at Bay Area Business Park in southeast Houston.

The tenant will occupy the entirety of the building, located at 9421 Bay Area Blvd. The facility is part of a 3.3M SF, 232-acre master-planned development owned by Principal Real Estate Investors in Houston’s Southeast/Port submarket. Bay Area Business Park is located near the Bayport and Barbour’s Cut container terminals at…

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The Texas Boom: Is There Enough Of The Lone Star State To Go Around? Find Out At Bisnow’s June 23 Event

PRESENTED BY:   Bisnow
 
The Texas Boom: Is There Enough Of The Lone Star State To Go Around? Find Out At Bisnow’s June 23 Event  

As Americans slowly return to the office, real estate professionals are keeping a close eye on where companies are choosing to call home. Some businesses are deciding to downsize their space as they switch to a hybrid workforce model, while others are leaving major cities in favor of smaller, more suburban…

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‘There Are Track Records Now’: More CRE Firms Pour Investments Into Maturing Proptech Sector

The proptech sector has taken a major leap forward over the past year, with many startups successfully scaling up and providing windfalls for their investors, and the industry it serves has taken notice. 

A host of commercial real estate companies that historically only invested in physical properties have become venture capitalists, pouring money into funds that back proptech startups. Fund launches over the past two weeks from MetaProp and RET Ventures demonstrate the range of the industry's investment. 

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Healthcare Real Estate Looks Beyond The Pandemic With New Design Plans In Mind

 

NEW YORK CITY — As the healthcare sector in New York City looks toward the coronavirus pandemic’s end, healthcare providers are changing their pre-pandemic plans for the built environment, investing in the medical needs of the city in a new era. 

A focus on high bed counts in hospitals and new outpatient office design that allows for hybrid in-person and virtual care are among the priorities for medical space coming out of the pandemic, according to officials from medical institutions and healthcare real estate experts. 

“The changes that we've made in existing space and our plans for future space are really driven by all of the things that we've experienced in the last year and a half,” Westmed Medical Group Chief Operating Officer Karen Dolman said on a Bisnow webinar on the future of healthcare real estate in New York City. “You can define it as pre-pandemic, during pandemic, we'd like to say maybe post-pandemic now.” 

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