Houston is a Great Place for Business, Brokerage Firms
December 20, 13
Real estate is hot in Houston, making it a great place for office, industrial, retail and the brokerage firms who help put businesses and buildings together. According to a recent article, Houston has added two jobs for every one it lost during the recession and it is leading the country in industrial jobs. Vacancy rates on office and industrial properties are quite a bit lower than the national average and more industry is promised with the expansion of the Panama Canal as well as an anticipated $10 billion natural gas export terminal.
Additionally, the article stated, the energy sector is driving the growth in Houston and, for each energy job created, four support position jobs in other sectors are created. Currently, there is 11.5 million square feet of new office space being built and 74 percent of that space is pre-leased.
Likewise, the retail sector in Houston appears to be following a residential market where supply isn't meeting demand. Retail remains very strong, the article stated, with low vacancy and default rates city-wide. Currently the Katy area is the fastest growing community in the United States, with development there bringing in plenty of retail services. 70 percent of the nation's economy is built on retail, the article stated.
If you're looking to lease office, retail or industrial space in the area or you have space you want to lease and have been considering various Houston brokerage firms, look no further than LandPark Commercial. LandPark Commercial has the expertise you need to help you with your real estate needs. We are proud of our reputation of bringing value to every transaction and for our dedication to our clients. For more information, contact us.