We’ve all seen the impact COVID-19 has had on businesses around the world, especially those in the retail and restaurant industries. The pandemic has been a rollercoaster for entrepreneurs, from the first shutdown in 2020, to pre-covid sales numbers returning in early 2021, then the unexpected Delta variant that has caused sales to dramatically dip once again. While many companies have had to make the tough decision to close their doors for good, others have…
Four Benefits of Innovative Technology in Commercial Real Estate
Over the last decade, particularly during the pandemic, we have increased technology use as a population. Historically, the commercial real estate industry has been slow to adopt some of the advances that our residential counterparts had already put into use. However, we’ve seen a major shift over the last few years, and as a result, the technology has become more readily available and affordable. It has become crucial to the growth of the company and…
Three Things to Know About the State of the Houston Office Real Estate Sector
The current office market in Houston can be characterized by one dubious distinction – having the most vacancy of any major office market in the country. As companies continue to shed office space, market-wide space availability (which includes present, sublease and future vacancy) is hovering around 30 percent. As a result of the pandemic, corporate institutions, law firms and large accounting firms, industries that lease a majority of office space, are reducing their office footprint….
Three Ways the E-Commerce Boom Has Affected Commercial Real Estate
Not only has technology driven e-commerce, but the pandemic has made us adapt more e-commerce habits. In 2020, we reached the expected rate of e-commerce growth two years early. Its convenience has shifted the way we shop since the 1990s and it only continues to grow. There was an over 30 percent increase in e-commerce sales from 2019 to 2020; estimated at $791.4 billion, according to the U.S. Department of Commerce. This not only…
Mike Spears Named 2021 Most Admired CEO by Houston Business Journal
HOUSTON (July 2021) – Lee & Associates – Houston, a nationwide leader in commercial real estate services, is proud to announce that Mike Spears, SIOR, CCIM, Managing Principal, has been honored as one of the “2021 Most Admired CEOs” by Houston Business Journal. Each year, the Houston Business Journal recognizes the city’s top CEOs based on their contribution to the company’s success, civic involvement and career achievement, among other factors. The honorees represent some of the city’s…
Balancing Fatherhood and Being a CEO
Dads are real-life superheroes! They are strong, adventurous and extraordinary. This Father’s Day we asked a couple dads in the demanding commercial real estate industry how they balance being a father and a CEO. Running a company is challenging, but fatherhood also comes with its own trials as well. Mike Spears, SIOR, CCIM is the Managing Principal of Lee & Associates – Houston and a dad to 12-year-old twins Emily and Luke. Mike acknowledges that there…
LEE & ASSOCIATES – HOUSTON ACQUIRES OVER 300,000 SQUARE FEET OF OFFICE SPACE Commercial Real Estate Services Leader Announces 2021 Building Acquisitions
HOUSTON (FEBRUARY 2021) – Lee & Associates – Houston, a nationwide leader in commercial real estate services, announces the acquisition of four new office leasing and management assignments in January of 2021. “Even though the leasing market was in a constant state of change in 2020, we have been able to lease up office buildings like 550 Wescott because of our focus on technology,” said Jill Nesloney, Principal at Lee & Associates – Houston. “Today’s…
Three Things to Know About the State of the Houston Industrial Real Estate Sector
This past year, industries across Houston and beyond have been significantly impacted. With the COVID-19 pandemic and the election, the uncertainty of the future created hesitation for many to move forward with business, while others found new opportunities for growth and expansion. While all sectors of the commercial real estate industry were affected, today we explore the state of the industrial sector as we head towards the end of the year. Houston, We…
The Role of Technology in Commercial Real Estate for the Retail and Office Sectors
Technology continues to change the commercial real estate industry. For the retail and office sectors, technology allows brokers to streamline processes and market properties in new and innovative ways. For example, before all of the new advances in the industry, prospective tenants had to drive to a location to tour a space. Today, we are able to virtually access any property listing from the palms of our hands. Being able to see listings online…