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

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

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

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

Wednesday, July 21, 2010

HRA, Inc. helps Artisan Furniture Store find new distribution location

Houston Realty Advisors, Inc. just helped Artisan Home Furniture find a new home at 8786 Westpark. Furniture was the name of the game in the industrial sector during the second quarter.

Houston filled up 1.6 million square feet of industrial space during the three months ended June 30 thanks to the completion of a 1 million-square-foot Rooms To Go distribution center and Ashley Furniture’s new 303,000-square-foot distribution center.

A total of 7 percent of local industrial real estate is vacant, according to a quarterly report on the sector by CB Richard Ellis Inc. That’s down slightly from the 7.1 percent vacancy CBRE tabulated for the first quarter of 2010.

Overall rental rates remained the same at 48 cents per-square-foot. Rates have not changed for a full year, CBRE reports.

Tenants are receiving concessions such as free rent or more money to build out their spaces from landlords, according to the real estate firm’s research.
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

Tuesday, May 25, 2010

Another Smaller CRE Firm Absorbed

May 25, 2010 REON-LINE Business News Letter:

CURTICE COMMERCIAL REAL ESTATE JOINS COLLIERS INTERNATIONAL
SUGARLAND, TEXAS — Sugarland-based Curtice Commercial Real Estate has joined Colliers International. Through the joint venture, the team plans to expand their services with an office in Fort Bend County, Texas. Kolbe Curtice, president of Curtice Commercial, will act as the managing director of the Fort Bend office. This expansion is part of Colliers International's global strategy to invest in and grow its platform. The firm has increased its global coverage from 290 offices to more than 480 offices worldwide. 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

Saturday, May 15, 2010

CoStar Power Broker Awards Recognize Top CRE Dealmakers in Houston

Power Brokers
Based on transactions completed and reported to CoStar.
Award Year:
Markets:
2009Houston

Top Leasing FirmsPresented Alphabetically
CAPSTAR Commercial Real Estate Svcs
CB Richard Ellis
Colliers International
Cushman & Wakefield
Grubb & Ellis
InSite Commercial Real Estate
Jones Lang LaSalle Americas, Inc.
Moody Rambin Interests
NAI Houston
NewQuest Properties
PM Realty Group
Stream Realty Partners, L.P.
Studley
The National Realty Group, Inc.
Transwestern Commercial Services
Top Sales FirmsPresented Alphabetically
Apartment Realty Advisors
CB Richard Ellis
Colliers International
Cushman & Wakefield
Grubb & Ellis
Hendricks & Partners
HFF, L.P.
Marcus & Millichap
NewQuest Properties
Studley

Top Office Leasing BrokersPresented Alphabetically
Brad Marnitz
NAI Houston
Brian McMackin
CAPSTAR Commercial Real Estate Svcs
Christopher G. Oliver
Cushman & Wakefield
Clint B. Bawcom
CAPSTAR Commercial Real Estate Svcs
Cody Armbrister
CB Richard Ellis
Derrell Curry
Studley
Eric Anderson
Transwestern Commercial Services
Greg Tilton
Transwestern Commercial Services
Jessica E.Ochoa
CB Richard Ellis
John Pruitt
CB Richard Ellis
Kristen P. Rabel
CB Richard Ellis
Louann Pereira
CB Richard Ellis
Mark W. O'Donnell
Studley
Tim D. Relyea
Cushman & Wakefield
Trey W. Strake
Cushman & Wakefield

Top Retail Leasing BrokersPresented Alphabetically
Alex Makris
CB Richard Ellis
Carson Wilson
Fidelis Realty Partners
Cullen Kappler
NewQuest Properties
David Ferguson
BPI Realty Services, Inc.
Debbie Adams
Gulf Coast Commercial Group
Eric Drymalla
Tarantino Properties
Eric Walker
NewQuest Properties
Ford Scott
NewQuest Properties
Jazz Hamilton
CB Richard Ellis
Jim Bayne
Investar Real Estate Services, Inc.
Matt Keener
CB Richard Ellis
Peggy Rougeou
Tarantino Properties
Robert Bailey
NewQuest Properties
Scott Shillings
SRS Real Estate Partners
Shawn Ackerman
Henry S. Miller Brokerage

Top Industrial Leasing BrokersPresented Alphabetically
Brad Marnitz
NAI Houston
Brian Gammill
Transwestern Commercial Services
Clay Reichenbach
InSite Commercial Real Estate
Darryl Noon
Transwestern Commercial Services
Edward R. Bane
Holt Lunsford Commercial, Inc.
Faron Wiley
CB Richard Ellis
John Ferruzzo
NAI Houston
Jon Michael
NAI Houston
Jude Filippone
Transwestern Commercial Services
Justin Robinson
Stream Realty Partners, L.P.
Kyle Valentine
Stream Realty Partners, L.P.
Rives Nolen
InSite Commercial Real Estate
Ryan Fuselier
Jones Lang LaSalle Americas, Inc.
Sam Brown
Sam H. Brown, Inc.
Walter Menuet
Vantex Commerical Property Group

Top Sales BrokersPresented Alphabetically
Bill Miller
HFF, L.P.
Craig LaFollette
HFF, L.P.
David Wylie
Apartment Realty Advisors
Ed Nwokedi
Cushman & Wakefield
J. Mark Russell
Studley
Jim Gibson
Stan Johnson Company
Steven D. Alvis
NewQuest Properties
Todd Marix
HFF ( Formerly at CB Richard Ellis)
Todd Stewart
HFF, L.P.
Tre T. Banks
HFF, L.P.

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