Anecdotal Market Report – Come on in, the water’s fine
While relatively well balanced, the bulk of our practice is helping tenants and buyers meet their commercial real estate needs, mostly in the industrial and retail sectors. What we think we are seeing is that with oil prices seemingly having bottomed out and stabilized, owners (sellers and landlords) appear to be holding firm to their asking prices. Attempts at “low-ball” offers by some of our clients have yielded zero results. Well researched offers in-line with recent transactions, however, have fared better, netting clients affordable space or fair returns on their capital. It seems to be a market in equilibrium – no feeding frenzy, but no fire-sales either.
It also seems there is still money coming into the Houston market from elsewhere – either outside the state or outside the country – Texas is still a good place to invest in commercial real estate.