Partners

Economic indicators like inflation, interest rates, and employment rates significantly shape the commercial real estate market. Inflation impacts construction costs and rents, interest rates affect financing and property values, and employment rates drive demand for office and retail spaces. Understanding these factors is essential for strategic decision-making and navigating market trends. https://lnkd.in/egHYmER7

Partners’ Industrial Services professionals exceed industry standards by focusing on our relationships with our clients. Whether you’re an occupier, owner, or investor in Austin, San Antonio, Dallas, Houston, or Atlanta, Partners’ full-service commercial real estate services and investments platform empowers our professionals to leave no stone unturned in finding the very best solutions for our clients. Relationship driven. Results Oriented.

Partners is pleased to announce our significant expansion into the Southeastern region of the U.S. This marks a critical step in our strategic growth plan and is our first expansion outside of Texas. Leading the Southeast business is veteran commercial real estate executive John F. O'Neill, III and Managing Partner, Southeast and Board member. In addition to opening an Atlanta office, Partners will also be expanding into the Carolinas, Nashville and across the Florida markets. If you're interested in learning more or joining our team, contact John O'Neill at john.oneill@partnersrealestate.com, Jon A. Silberman, CEO, at jon.silberman@partnersrealestate.com, or Travis L. Rodgers, CCIM, COO, at travis.rodgers@partnersrealestate.com. https://lnkd.in/gbn_Chmr

The Houston industrial market experienced a rise in vacancy rates to 7.7% in Q2 2024, with net absorption increasing to 3.2 million sq. ft., up 32% from the previous quarter. Despite a slowdown in construction, leasing activity grew significantly, up 48% year-over-year. The market is shifting towards neutral conditions, with the construction pipeline decreasing by 60% from the previous year. Average rental rates remained at a record high of $0.79 per sq. ft., reflecting a healthy market with steady demand. Houston's economy showed robust job growth, particularly in education, health services, and leisure sectors, offsetting declines in energy production jobs. Despite inflation slowing, real wages increased, contributing to the city's overall economic resilience. The industrial market maintained positive net absorption for the 59th consecutive quarter, underlining its long-term stability. https://lnkd.in/g9nm-EWe

Multiple IOS / stabilized land site opportunities are currently available at TGS Cedar Port Industrial Park in Baytown, TX. This prime industrial park offers a range of customizable sites suitable for various industrial and commercial needs, with access to essential infrastructure and strategic logistical advantages. Trans-Global Solutions, Inc. John Simons, Gray Gilbert, Chris Haro www.tgscedarport.com

By the end of Q2 2024, Houston's office market experienced a vacancy rate increase to 26.3%, despite a positive net absorption of 402,024 sq. ft. This rise is attributed to 521,323 sq. ft. of new office space entering the market, with Class A properties seeing the majority of leasing activity. Average asking rates reached $30.25 per sq. ft., driven by high-quality assets achieving near-record rates, while Class B properties faced declines. Notable new leases and increased leasing velocity signal ongoing demand, even as the market adapts to economic shifts and evolving work patterns. https://lnkd.in/gBdr8kaH

Please join us in congratulating Griff Bandy on his 20-year anniversary!

Partners Capital today announced the successful disposition of 10849 & 10899 Kinghurst Drive, marking the first sale from its Investment Fund IV portfolio. The industrial/flex property was acquired in September 2022. The multi-tenant flex service center was 100% leased at sale features approximately 52,781 rentable square feet on 4.56 acres. Built in 1981, the all-brick facility is comprised of two small-bay light industrial buildings offering office space at the front and warehousing and loading at the back of each building. During the last eight years, Partners Capital has sponsored seven investment funds across three investment strategies and completed more than $500 million in transaction volume. Its current portfolio comprises more than 1.4 million sq. ft. of properties located throughout Texas’ major markets. Prior to selling 10849 & 10899 Kinghurst Drive, Partners Capital completed the second acquisition in Opportunity Fund V by purchasing Old Town Spring Business Park. https://lnkd.in/ghqNE76a

Partners today announced that Joan Collum has joined the company as a Partner. Joan, a seasoned retail broker specializing in retail leasing and tenant representation will be based in Partners’ Houston office. Over the past 30 years, Joan has exclusively represented major brands such as Michaels, Pier 1 Imports, Applebee’s, Office Depot, Bar Louie, La Madeleine, and Popeye’s in the Houston market. Currently, she continues to represent Office Depot and Floor and Décor. Additionally, Joan handles leasing responsibilities for her own developments, including Seguin Marketplace, 1242 Witte Road, and Tomball Marketplace, and sources development opportunities in Houston and South Texas markets. https://lnkd.in/gsZuk4JC

"The vacancy rate for retail space is sitting at 4.1%, below the 5% threshold under which it is generally considered to be a landlord’s market, said Steve Triolet, Senior Vice President of Research and Market Forecasting at commercial real estate firm Partners. Average annual rent is $19.68 a square foot, the highest on record, he said. About 300,000 more square feet of space was vacated than was filled during the first quarter, with about 54,000 square feet of that tally stemming from a shuttered call center that was classified as a retail building. 'Mostly absorption is going into new product that’s being delivered, but there’s not much that is being delivered, so it’s kind of a catch-22,' Triolet said. 'There’s demand out there, but it’s not reflected as much in the absorption numbers because of the super tight vacancy rate.'" https://lnkd.in/g2PnM8du