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Houston’s office market to be hit with ‘double whammy’ this year

Even though the Houston economy has bottomed out, experts say, it will likely take another 12 to 18 months for the city’s office market to finally hit bottom, said David Wegman, director of research and marketing at Newmark GrubbKnight Frank, during the firm’s 2017 forecast breakfast.

Click to read more at Houston Business Journal. 

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Houston commercial real estate brokerages buck hiring trends, continue growth

The energy downturn has not stopped the city’s largest 25 commercial real estate brokerages from hiring licensed professionals, according to HBJ research.

Of the 25 brokerages ranked on HBJ’s 2017 Largest Commercial Real Estate Brokerages List, 56 percent — or 14 firms — have added more brokers and agents since last year. Only six companies reported a loss in licensed professionals with an average loss of only about four brokers. The remaining brokerages reported consistent broker and agent counts with last year.

Click to read more at Houston Business Journal.

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Broker sees renewed investor interest in Houston multifamily market

Matt Guse is feeling optimistic about Houston’s multifamily market in 2017.

The senior vice president with Colliers International Group Inc.’s (Nasdaq: CIGI) multifamily group in Houston has been fielding more calls from out-of-town investors looking to purchase apartments in the Bayou City.

Click to read more at Houston Business Journal.