Executives are keeping their large, new campus largely under wraps. Nevertheless, it is transforming the area’s real estate.Read More
Hines is known for developing iconic buildings in Houston—notably One Shell Plaza, Pennzoil Place, and the Houston Galleria—and around the world. But when the company first proposed developing a new office building on a blighted block in downtown Houston, many in the Houston real estate community scratched their heads.
According to a new report from CBRE Research, annual tenant demand, as measured by net absorption, totaled 52.7 million square feet (4.9 million sq m) in 2014—the highest annual amount since 2007.
As panelists demonstrated at the 2014 ULI Fall Meeting, owners and developers are generating new demand for office space by repositioning entire neighborhoods and developing new mixed-use buildings to meet the needs of office users.
Prevailing modes of workplace organization have and continue to be upended by new enterprises, designers, and clients, according to panelists at the 2014 ULI Fall Meeting in New York City.
The downtown area attracts office tenants, residents, and tourists as it rebuilds.
As New York City’s burgeoning tech economy continues to grow, startups face the same challenges for office space they would anywhere else—but have the added challenge of Manhattan-level price tags, vying for space with law firms, banks, and other well-financed tenants.
This past July, a company called Kisi took the grand prize at a “Hacker Challenge” for real estate–based apps sponsored by RETechNYC, an advisory firm, and ULI New York.
Like a sweltering summer day in the Panhandle, the Texas real estate market is hot. Very hot.
Extracting oil and natural gas from shale is just one driver of the state’s latest glory days.