Downtown Houston’s top office buildings show promising upswing

Here’s some welcome news for downtown Houston landlords.

Downtown Houston, despite its historic reliance on the kind of tenant that’s reducing its footprint, has a lower vacancy rate than the city’s average vacancy rate of 22.4 percent, according to a recent report from Chicago-based JLL’sHouston office. The submarket posted promising leasing numbers and has started to attract serious investors, too, per the report.

Click to read more at Houston Business Journal. 

Exclusive: Office building preservation co. launches in Houston

Amid a struggling office market and a humid climate, Houston building owners could certainly use slimmer operating costs. Enter a new real estate-focused venture from a Houston-based, 30-year-old consulting group.

Rimkus Building Consultants, a fully owned subsidiary of Rimkus Consulting Group, recently launched in Houston, the company’s president Jack Dolan told the Houston Business Journal. The company’s bread and butter is working with property managers, developers and general contractors in enhancing and prolonging the life of a building.

Click to read more at Houston Business Journal.

Impoverished neighborhoods on the rise in Houston’s suburbs

Poverty is often thought of as an “inner city” problem, but it is increasingly spreading out into the suburbs, according to a new report.

Apartment List, an online rental marketplace, analyzed housing data from Harvard University, and found that Houston had the eighth highest increase nationally in the number of suburbs where at least 20 percent of the population is living in poverty. The U.S. Census Bureau defines poverty as a family of four, including two children, making less than $24,339 a year.

Click to read more at Houston Business Journal.

Houston office report: ‘Tenant demand remains muted’

Houston’s sublease glut, even in spite of its overwhelming size, is contracting, per a recent report from the Houston office of Chicago-based JLL. But any positive momentum in the city’s office market is largely overshadowed by the amount of vacant space still weighing it down.

The amount of sublease office space available in Houston has dipped more than 1.1 million square feet, per the report, from its record-high and now sits at 11.1 million square feet.

Click to read more at Houston Business Journal.

Record-high volume of big-box distribution space to deliver in Houston this year

Houston’s industrial market has largely benefited from activity among e-commerce, plastics and consumer goods giants. This year, a record-high volume of warehouse and distribution facilities are set to deliver, per a report from JLL.

There are seven warehouse and distribution facilities larger than 400,000 square feet that’ll deliver this year, per the report. Among those facilities are FedEx Ground’s massive 815,000-square-foot facility underway near Katy.

Click to read more at Houston Business Journal. 

This is how much Houstonians can save by renewing their lease instead of moving

Here’s how to save on your rent: Don’t move, according to a new report.

Renewing an apartment lease instead of moving to a new unit can mean big savings for Houston renters, according to Zillow Inc. (Nasdaq: Z).

The Seattle-based real estate technology company analyzed 2015 rental data from the U.S. Census Bureau and found that Houston renters saved on average $3,337 — or $278 per month — by staying in their apartment for five years instead of moving to a new apartment each year. This calculation doesn’t include moving costs, security deposits and furniture — just rent.

Click to read more at Houston Business Journal.