2010 Houston ranks as No. 1 manufacturing city in U.S.
Houston is the No. 1 manufacturing employer in the country, with 228,226 employed in the industry, Manufacturers' News Inc. reported.
Houston's nearly 230,000 manufacturing jobs topped the nation, according to the Manufacturers' News Inc. report. The industrial directory publisher ranked cities according to number of factory jobs, using Standard Industrial Classifications and including oil and gas exploration categories.
Texas overall dominated the ranking. Dallas ranked No. 6 with 81,626 positions, while San Antonio was No. 17 with 52,039 people. Austin came in at No. 26 with 43,103 workers. Manufacturing accounts for about 9 percent of jobs in Houston.
New York was the second largest factory employer with 139,127 jobs followed by Chicago with 108,692 and Los Angeles with 83,719.
Cities that registered notable changes since 2008 included Detroit, falling to No. 45 from No. 29; Seattle, which has moved up to 34th from 46th; and St. Louis, which overtook Cincinnati as the nation's fifth-largest manufacturing employer.
Since August 2008, the nation's top 10 industrial cities have lost a total of 95,805 manufacturing jobs, or 8.4 percent, according to the report.
Things are moving up and now is rthe time to lock in reantl rates!!!! Good time to BUY!!!!! as well!!
For more information on Houston manufacturing or office space, Houston retail space, Houston warehouse space and Houston industrial space, please call Ed Ayres @ 713 782-0260 or see my web site at : www.houstonrealtyadvisors.com
Tuesday, February 1, 2011
Wednesday, December 15, 2010
Tuesday, December 14, 2010
Heritage Plaza sells for $325 Million or $282.70 PSF
HOUSTON -- Atlanta-based Goddard Investment Group has finalized the sale of Heritage Plaza, a landmark office complex in downtown Houston, to New York-based Brookfield Properties Corp. for $325 million. Heritage Plaza, located at 1111 Bagby St., comprises an office tower, which is approximately 84 percent leased, constructed in 1986 and the Federal Land Bank building built in 1935. Tenants of the office tower include Deloitte, EOG Resources and Tudor Pickering Holt & Co. It is Houston's second highest price ever paid for an office building, behind only the Bank of America Center sale for $367 million in August 2007.
Tuesday, November 2, 2010
Neiman Marcus is getting ready for Christmas...for the next 10 YEARS!!!
The Neiman Marcus Group has expanded and extended its distribution lease in Pinnacle Park from 292,000 to 470,250 square feet of industrial space at 4121 Pinnacle Point Dr. in Dallas. The space will be utilized for Neiman Marcus' Last Call division. Corbin Crews of CB Richard Ellis represented the landlord, TR Pinnacle Corp., in the 10-year lease. For more information on Houston office space, Houston retail space or Houston warehouse space and Houston industrial space, please call 713 782-0260 or see my web site at : www.houstonrealtyadvisors.com Offer opportunities for Houston office space. Thank you for your interest.
Thanks,
Ed A. Ayres
Houston Realty Advisors, Inc.
Mitaquye oyasin
Thanks,
Ed A. Ayres
Houston Realty Advisors, Inc.
Mitaquye oyasin
Thursday, October 28, 2010
MAINPLACE TOWER TO BE RENAMED BG GROUP PLACE
A subsidiary of BG Group plc has signed a 164,000-square-foot lease at Houston's MainPlace office tower, which will be renamed BG Group Place after the natural gas company. Located at 811 Main in downtown Houston, the space will serve as BG Group's U.S. headquarters with the possibility of expanding in the 46-story, 1 million-square-foot office tower. The company plans to relocate from its current Galleria location in mid to late 2011. BG Group is based in the U.K. and is active in more than 25 countries on five continents. Its strategy is focused on connecting competitively priced resources to specific, high-value markets with a broad portfolio of exploration and production. Jim Bailey, Joe Peddie and Tim Relyea of Cushman & Wakefield and Glenn Pinkerton of Vinson & Elkins represented BG Group in the transaction. Chrissy Wilson and Stewart Robinson of Hines represented the landlord, HC Green Development Fund, a partnership of the California Public Employees' Retirement System (CalPERS) and Hines. For more information on Houston office space, Houston retail space or Houston warehouse space and Houston industrial space, please call 713 782-0260 or see my web site at : www.houstonrealtyadvisors.com Offer opportunities for Houston office space. Thank you for your interest.
FACEBOOK at http://www.facebook.com/home.php#/profile.php?id=1223783810&ref=nf
Thanks,
Ed A. Ayres
Houston Realty Advisors, Inc.
Mitaquye oyasin
FACEBOOK at http://www.facebook.com/home.php#/profile.php?id=1223783810&ref=nf
Thanks,
Ed A. Ayres
Houston Realty Advisors, Inc.
Mitaquye oyasin
Tuesday, October 19, 2010
Houston downtown is one of the most active CBD's in Country
EnerVest, a Houston-based oil and gas company, has expanded by 36,721 square feet and renewed its headquarters lease for a total of 117,316 square feet in First City Tower, located at 1001 Fannin in downtown Houston. Chip Colvill and Michael Anderson of Colvill Office Properties represented the landlord, FC Tower Property Partners, an affiliate of JMB Realty of Chicago. Meanwhile, Tim Relyea of Cushman & Wakefield of Houston represented EnerVest. First City Tower is a 1.3 million-square-foot, 49-story office building bounded by Fannin, McKinney, San Jacinto and Lamar streets in Houston's central business district. For more information on Houston office space, Houston retail space or Houston warehouse space and Houston industrial space, please call 713 782-0260 or see my web site at : www.houstonrealtyadvisors.com Offer opportunities for Houston office space. Thank you for your interest.
Thanks,
Ed A. Ayres
Houston Realty Advisors, Inc.
Mitaquye oyasin
Thanks,
Ed A. Ayres
Houston Realty Advisors, Inc.
Mitaquye oyasin
Thursday, September 23, 2010
The Recession Has Ended; Someone Should Send the Memo to Tenants
Economists Say Recovery Started 15 Months Ago, But Brokers Say Tenants Are Still in
Cost cutting mode.
The National Bureau of Economic Research -- the official referee of the economy -- announced this week that it determined that the recession ended and economic recovery began 15 months ago in June 2009. However, according to commercial real estate service providers, economic conditions for most American tenants are still in the pre-June 2009 cycle and a long way from the pre-recession years.
Smith System in Arlington, TX, the nation's first professional fleet driver training company, is representative of the current tenant mindset. When the economy is expanding, the need for freight drivers increases. When it is not expanding, Al Caldwell, senior vice president of operations and international sales for Smith System, sees no need to expand either.
"Our business would have to increase 20% to return us to 2008 levels," Caldwell said. "We have the same staffing we had in 2008 and don't see any need to increase for probably two years or more."
And when it is time to expand, that still won't translate in the need for more space. During the prolonged recession, Smith System has mothballed space, as many businesses have.
"We have approximately 10 unused spaces that we could use if we were to expand," Caldwell said. "We think our return to 2008 levels will require two more years, so, that fact, combined with the extra space we have, probably means we are at least three years or perhaps even longer away from needing more space."
That is the message that many commercial real estate brokers are getting across the country, too.
"Many mid-size and smaller companies are afraid of the possibility of a double dip recession. They are unconvinced that the recession is really over, despite the statements by several so-called economic pundits that the it "technically" ended in June 2009," said Howard Applebaum, president of Corporate America Realty & Advisors, a tenant rep firm in Rutherford, NJ. "Until we see greater access to financial liquidity and greater financial leverage for business and real estate borrowings, companies will remain conservative and avoid adding staff. What must be feared here is that without the capability of loosening the credit restrictions that banks have placed, it can lead to further staff reductions as companies that do not have access to "Wall Street" capital will burn through their cash holdings."
Scott Abernethy, senior vice president of Cassidy Turley in Cincinnati, OH, said 90% of the companies they talk with are not hiring.
"Companies in the past two to three years have downsized and extended their leases; these companies do not have excess space," Abernethy said. "However, many firms with leases farther out in the future have excess space that they can't unload. If the economy improves, they feel they can backfill that excess."
The other problem, Abernethy said, is that the responses to the recession have made it harder for tenants to know what expansion might cost them.
"The good news is that they are no longer cutting staff, but most companies feel like they can't expand because they just don't know what new employees will cost," Abernethy said. "There is a large amount of confusion as to health care, employee benefits and taxes, and companies just can't project their future costs of doing business. Once government policies are understood by the businesses, they will then know what they are dealing with, and will start expanding."
While the brokerage community generally feels that the bulk of staff downsizing is past, that doesn't mean that firms are finished cutting costs.
Chris Fountain, business development manager / sales for relocation firm Suddath Office Solutions in Jacksonville, FL, says the businesses they deal with are now adjusting their space needs to accommodate their past staff reductions.
"Most businesses have adopted the practice of adjusting the size of their labor force and physical space to cope with current economic changes. So, it has become a way of life," Fountain said. "Many businesses are still in the mindset of reducing their operational overhead expenses by reducing their square footage. Many of the large corporations we deal with have more than enough space and could prolong new demand out at least a couple years depending on what happens."
Bradley D. Larson, vice president of Partners National Real Estate Group in Dallas specializes on the industrial side.
"Since distribution and logistics users tend to be more focused on square footage and the respective economics, we have seen an emphasis from our industrial clients on right sizing their branches," Larson said. "We are still seeing smaller and less productive branches close as the lease expirations loom closer. This is happening at a lower rate than before, but is still somewhat prevalent in tertiary markets where market demand for our client's products is not keeping pace with fixed costs. So, as opposed to downsizings, it is more common for our industrial clients to consolidate or close a branch than to lay off staff."
"Since leases have, by nature, expired during the downturn, those lease renewals have (whether knowingly or unknowingly) locked in lower rental rates and thus have prepared a lower fixed overhead position for our clients in the years to come," Larson said.
Mike Fransen, vice president and asset manager for Parkway Properties Inc. in Houston, is seeing the same thing on the office side.
"I think we're still working our way through. We still have a fair number of people that signed at the peak of 2006-2007 that are coming up on renewals and many will likely have their first opportunity to downsize," Fransen said. "So I still envision that continuing for a little while, certainly into 2011."
"There is lots of grey (sublease) space still diluting and complicating the leasing environment here in Houston. It is does impact leasing decisions by companies," Fransen added. "It has killed large deals we've worked on. When the CFO realizes he has unused space in his existing portfolio, he decides not to sign that new lease. Added to that are new and empty new assets, and that combines to make for a sloppy office environment for a while. With jobs very slow to come back nationally and locally, it's impossible to tell how long this continues."
It is a very pessimistic outlook, said Kenneth W. Colwell, senior leasing and sales associate of Paragon Real Estate Group in San Francisco.
"My feeling is true recovery will not occur until unemployment and sentiment/confidence returns," Colwell said. "Only users who are recession-proof will expand or relocate, that includes medical and government, with startups looking for rock bottom subleases deals." By Mark Heschmeyer COSTAR
September 22, 2010
For more information on Houston office space, Houston retail space or Houston warehouse space and Houston industrial space, please call 713 782-0260 or see my web site at : www.houstonrealtyadvisors.com Offer opportunities for Houston office space. Thank you for your interest.
Thanks,
Ed A. Ayres
Houston Realty Advisors, Inc.
Mitaquye oyasin
Cost cutting mode.
The National Bureau of Economic Research -- the official referee of the economy -- announced this week that it determined that the recession ended and economic recovery began 15 months ago in June 2009. However, according to commercial real estate service providers, economic conditions for most American tenants are still in the pre-June 2009 cycle and a long way from the pre-recession years.
Smith System in Arlington, TX, the nation's first professional fleet driver training company, is representative of the current tenant mindset. When the economy is expanding, the need for freight drivers increases. When it is not expanding, Al Caldwell, senior vice president of operations and international sales for Smith System, sees no need to expand either.
"Our business would have to increase 20% to return us to 2008 levels," Caldwell said. "We have the same staffing we had in 2008 and don't see any need to increase for probably two years or more."
And when it is time to expand, that still won't translate in the need for more space. During the prolonged recession, Smith System has mothballed space, as many businesses have.
"We have approximately 10 unused spaces that we could use if we were to expand," Caldwell said. "We think our return to 2008 levels will require two more years, so, that fact, combined with the extra space we have, probably means we are at least three years or perhaps even longer away from needing more space."
That is the message that many commercial real estate brokers are getting across the country, too.
"Many mid-size and smaller companies are afraid of the possibility of a double dip recession. They are unconvinced that the recession is really over, despite the statements by several so-called economic pundits that the it "technically" ended in June 2009," said Howard Applebaum, president of Corporate America Realty & Advisors, a tenant rep firm in Rutherford, NJ. "Until we see greater access to financial liquidity and greater financial leverage for business and real estate borrowings, companies will remain conservative and avoid adding staff. What must be feared here is that without the capability of loosening the credit restrictions that banks have placed, it can lead to further staff reductions as companies that do not have access to "Wall Street" capital will burn through their cash holdings."
Scott Abernethy, senior vice president of Cassidy Turley in Cincinnati, OH, said 90% of the companies they talk with are not hiring.
"Companies in the past two to three years have downsized and extended their leases; these companies do not have excess space," Abernethy said. "However, many firms with leases farther out in the future have excess space that they can't unload. If the economy improves, they feel they can backfill that excess."
The other problem, Abernethy said, is that the responses to the recession have made it harder for tenants to know what expansion might cost them.
"The good news is that they are no longer cutting staff, but most companies feel like they can't expand because they just don't know what new employees will cost," Abernethy said. "There is a large amount of confusion as to health care, employee benefits and taxes, and companies just can't project their future costs of doing business. Once government policies are understood by the businesses, they will then know what they are dealing with, and will start expanding."
While the brokerage community generally feels that the bulk of staff downsizing is past, that doesn't mean that firms are finished cutting costs.
Chris Fountain, business development manager / sales for relocation firm Suddath Office Solutions in Jacksonville, FL, says the businesses they deal with are now adjusting their space needs to accommodate their past staff reductions.
"Most businesses have adopted the practice of adjusting the size of their labor force and physical space to cope with current economic changes. So, it has become a way of life," Fountain said. "Many businesses are still in the mindset of reducing their operational overhead expenses by reducing their square footage. Many of the large corporations we deal with have more than enough space and could prolong new demand out at least a couple years depending on what happens."
Bradley D. Larson, vice president of Partners National Real Estate Group in Dallas specializes on the industrial side.
"Since distribution and logistics users tend to be more focused on square footage and the respective economics, we have seen an emphasis from our industrial clients on right sizing their branches," Larson said. "We are still seeing smaller and less productive branches close as the lease expirations loom closer. This is happening at a lower rate than before, but is still somewhat prevalent in tertiary markets where market demand for our client's products is not keeping pace with fixed costs. So, as opposed to downsizings, it is more common for our industrial clients to consolidate or close a branch than to lay off staff."
"Since leases have, by nature, expired during the downturn, those lease renewals have (whether knowingly or unknowingly) locked in lower rental rates and thus have prepared a lower fixed overhead position for our clients in the years to come," Larson said.
Mike Fransen, vice president and asset manager for Parkway Properties Inc. in Houston, is seeing the same thing on the office side.
"I think we're still working our way through. We still have a fair number of people that signed at the peak of 2006-2007 that are coming up on renewals and many will likely have their first opportunity to downsize," Fransen said. "So I still envision that continuing for a little while, certainly into 2011."
"There is lots of grey (sublease) space still diluting and complicating the leasing environment here in Houston. It is does impact leasing decisions by companies," Fransen added. "It has killed large deals we've worked on. When the CFO realizes he has unused space in his existing portfolio, he decides not to sign that new lease. Added to that are new and empty new assets, and that combines to make for a sloppy office environment for a while. With jobs very slow to come back nationally and locally, it's impossible to tell how long this continues."
It is a very pessimistic outlook, said Kenneth W. Colwell, senior leasing and sales associate of Paragon Real Estate Group in San Francisco.
"My feeling is true recovery will not occur until unemployment and sentiment/confidence returns," Colwell said. "Only users who are recession-proof will expand or relocate, that includes medical and government, with startups looking for rock bottom subleases deals." By Mark Heschmeyer COSTAR
September 22, 2010
For more information on Houston office space, Houston retail space or Houston warehouse space and Houston industrial space, please call 713 782-0260 or see my web site at : www.houstonrealtyadvisors.com Offer opportunities for Houston office space. Thank you for your interest.
Thanks,
Ed A. Ayres
Houston Realty Advisors, Inc.
Mitaquye oyasin
Subscribe to:
Posts (Atom)
Posts
