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August 24, 2023

‘We’re Praying’: Extreme Texas Heat Brings Construction Worker Safety To The Fore
Hear From Longfellow Real Estate Partners CEO Adam Sichol On Top Life Sciences Markets Nationwide

Texas is seeing its most sweltering summer in over a decade as temperatures break records in Dallas-Fort Worth and Houston, while lingering above 100 degrees Fahrenheit for more than 40 consecutive days in Austin.

Professionals in the construction and commercial property management industries say they've become used to overcoming the obstacles extreme Texas weather can throw at them. But the persistent heat and the danger it presents has them doubling down on emphasizing worker safety and the importance of offseason maintenance.

‘We’re Praying’: Extreme Texas Heat Brings Construction Worker Safety To The Fore

“We just take a common sense approach to the heat. We want everyone to be safe,” said Kristi Sutterfield, CEO of the Greater San Antonio Builders Association. Over the weekend, San Antonio tied its own record for the most consecutive days that…

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First Industrial Realty To Increase Houston Presence With 425K SF Speculative Warehouse

First Industrial Realty Trust is planning a $25M, 425K SF speculative warehouse with office space in northeast Houston, according to a state filing.

The building at 8151 Liberty Road, off the North Loop, is set to offer 425K SF of warehouse space and 2,500 SF of office space, according to the filing with the Texas Department of Licensing and Regulation. These filings are often preliminary and subject to change.

First Industrial Realty To Increase Houston Presence With 425K SF Speculative Warehouse

The filing indicates construction will begin in February 2024. This project would be Chicago-based First Industrial Realty’s fifth building in the Houston market, increasing its presence in Houston by more than 40%, The Real Deal reported.First Industrial Realty’s vacancy rate is about 2% across its portfolio, well below Greater Houston’s industrial…

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Doug Jones Out As Head Of Cushman & Wakefield's Dallas Office
Doug Jones Out As Head Of Cushman & Wakefield's Dallas Office  

Doug Jones, head of Cushman & Wakefield’s Dallas office, is no longer with the firm.

Sources told the Dallas Business Journal that Jones, who has been managing principal since 2021, left his post last week. A company spokesperson confirmed a hunt for his replacement is underway.

Jones took the job at Cushman & Wakefield after his predecessor, Ran Holman, left the firm for Newmark, a company that made waves with several high-profile poaches earlier this year. The reason for Jones’ departure is unknown. He didn't immediately respond to Bisnow’s request for comment. The…

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Private Equity Firm Acquires Subway For Nearly $10B, Plans Massive Expansion
Private Equity Firm Acquires Subway For Nearly $10B, Plans Massive Expansion  

Private equity firm Roark Capital won a bidding war to acquire the privately held Subway sandwich chain, which has roughly 37,000 locations worldwide, for an unspecified price, though  The Wall Street Journal previously reported an offer by the buyer of $9.6B. Under its new…

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