Emerging Evolution: How Retail Is Adapting To The Changing Market

BY BRANDI SMITH

It was the merger that made international headlines: Amazon purchasing Whole Foods, a marriage of e-commerce and brick-and-mortar that acknowledged and leveraged the powerof both kinds of retail.

Grocery being the largest category of consumer retail, the move is being viewed by experts as a power play for Amazon, a way for the giant online retailer to tap into a new revenue stream. It was also a public and financial admission by an e-commerce behemoth that it is still worth investing in a physical store to win the war of retail.

“To paraphrase Mark Twain, the reports of the death of brick-andmortar retail are greatly exaggerated,” says Marshall Mills, President and CEO of Weitzman. “… retail’s alive and well …”

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Houston CRE Market Shows Resilience in Face of Hurricane Harvey

U.S. MARKET FLASH – SEPTEMBER 2017

Hurricanes, tropical storms and floods are familiar occurrences in Houston and the surrounding Texas Gulf region; more than eight severe floods/hurricanes have impacted the Houston MSA since 1998.

But when Hurricane Harvey struck the region near Rockport, TX on August 25, the Category 4 storm was the strongest to hit the region since 1961, dumping more than 50 inches of rain in a matter of days and causing extensive property damage due to flooding.

In addition to its devastation on Greater Houston, Harvey’s impact was national in scope as well. Port Houston-the largest U.S. port in foreign tonnage and home to the nation’s largest petrochemical complex– closed for 4 1/2 days after the hurricane and reopened on September 1. Most refineries along the Texas Gulf Coast, which is the nation’s largest producer of oil and
gasoline, have also restarted operations, while others, such as Valero, have returned to pre-storm fuel-making rates. Nationally, consumers will see an increase in gas prices of about $0.08 – $0.10 for the next several months.

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Property Tax Reductions Through SB1 & Hurricane Harvey Loss Documentation

The Texas Senate endorsed Senate Bill 1, a bill allowing for property tax rate elections if county property tax revenues exceeded 4% of what was taken in the year before. The House & The Senate met in a special session on July 26th to vote on the rollback. 

REDNews spoke with Senator Paul Bettencourt about the reason for then failure to pass Senate Bill 1, the tax relief bill, that would decrease the rollback rate from 8% to 4%, which was passed by the Texas Senate during the Texas Legislative Special Session.

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Hurricane Harvey: Where Do We Go From Here?

BY MICHAEL PAVIA

Hurricane Harvey resulted in extensive flooding and massive home damage to the Houston region. “We’ve got probably 30,000 to 40,000 homes that have been destroyed,” said Harris County Judge Ed Emmett. Damage estimates surpass $20 billion. 

While the region recovers from the damage, the community is asking what can be done to avoid this type of devastation going forward? Here we consider some potential courses of action.But before discussing solutions there are several points to consider

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Apartment Forecast: Presentation by Ed Nwokedi

BY MICHAEL PAVIA

Ed Nwokedi, Senior Director of the Cushman & Wakefield’s Multifamily Advisory group, was the speaker at a luncheon on July 19 at the H.E.S.S. Club in Houston. The luncheon was sponsored by O’Conner & Associates. The topic of Ed’s presentation was Houston’s Apartment Forecast. Ed covered 1. Houston Market Fundamentals, 2. Value Add applied to existing properties, and 3. Current Value Add Targets with Examples.

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Land trends with Land Advisors: A look at Texas’ three largest markets

BY BRANDI SMITH

The world of commercial real estate is a broad one, covering a variety of different jobs and specialties. In so many instances, we see CRE professionals take on two or more titles, chasing expertise in many different areas.

Landry Burdine, a designated broker with Land Advisors’ North Texas office, says he made the decision early on to focus his skills in one field: land brokerage.

“One of the best pieces of advice I’ve ever received came from Dallas retail developer, Mike Hopkins. He told me, ‘Be the best at something,’” Burdine explains. “I think one of the mistakes young brokers make is that they try to do a little bit of everything. They’ll try to lease office buildings and retail centers and sell pad sites. What you find is that when you do that, you don’t really learn the nuances of your market as well as you do when you focus on one thing and do it well.”

When Burdine got started as a land broker about 20 years ago, he says he made that decision because he saw opportunity. Land, he admits, can be a challenge.

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