Houston, it seems, is "back." Job growth continues to trend upward. Houston is in a state with a pro-business climate, no income taxes and a high quality of life. All of this has its impact on commercial real estate. Leasing in all sectors is active, while office, industrial and multifamily buildings are attracting strong interest from investors ranging from private equity and trusts, to pensions, institutions and REITs.
According to Transwestern's Steve Pumper, Houston was never really "away." Furthermore, today's investment climate didn’t happen overnight. Rather, what's going on now was about a year and a half in the making. "Most investors look for locations that have high barriers to entry, industries that are growing and general job growth," comments Pumper, who is Transwestern's executive managing director, executive leadership, capital markets. Houston has all of that, he goes on to say, meaning "it's been a huge beneficiary of investment interest."
Read more...Houston Appealing to CRE Investors - Daily News Article - GlobeSt.com