"You woke up in the city of opportunity this morning. Houston is not a destination city, it's a city of opportunity," said Brandi McDonald, managing principal with Newmark Knight Frank in her opening remarks at the 5th Annual BoyarMiller Real Estate Breakfast Forum. This perspective was echoed by the panel, which also included Joel Marshall, senior vice president, Trendmaker Development Company; Welcome W. Wilson, Jr., president and CEO, GSL Welcome Group; and Ewing King, principal, Read King Commercial Real Estate.
McDonald was optimistic in her predictions for the 2012 Houston office market stating, "Houston is one of the strongest cities in the nation and it will continue to be that way in 2012." Though Houston is below the national average for office vacancies at 16.3%, McDonald expects to see a continued decline in the coming year. And, while construction has been down in the office market with 1.4 million square feet under construction in 2011, she predicts a spike in construction in 2012.
Read more...Houston Touted as City of Opportunity for Real Estate - Multifamily News Headlines – Breaking News, Stories, Top Headlines :: MultifamilyBiz.com
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