There’s no question that the evolution of technology has made an incredible impact on the commercial real estate industry over the past two decades. The newer generation of commercial real estate professionals, who are naturally proficient with technology, have an incredible advantage over professionals who started in the industry decades ago. They will never experience the pains of waiting for an oversees contract via fax or driving hours to survey prospective property sites. Tasks that…
Analyzing Real Estate Investments In a Falling Interest Rate Environment
What should the expectation be for capitalization (cap) rates and commercial real estate asset pricing as the Fed continues to cut interest rates? The short answer is, all else equal, a reduction in interest rates should result in a compression of cap rates, thereby increasing commercial real estate prices. This is because lower interest rates result in higher net cash flows available to the investor after accounting for debt service. This may be thought of…
Reed Vestal Named 2019 Next Generation Award Winner!
Lee & Associates – Houston, a nationwide leader in commercial real estate services, is pleased to announce that Reed Vestal has been named a recipient of Connect Media’s 2019 Next Generation Award! This marks three years in a row for a Lee & Associates – Houston broker to win this coveted award. Reed specializes in industrial, land and investment brokerage. Over his career, Reed has completed over $350 million in sale, lease, build-to-suit, design-build, investment and…
Lee & Associates – Houston Senior Director Receives SIOR Designation
June 18, 2019 (HOUSTON) – Lee & Associates – Houston, a nationwide leader in commercial real estate services, is proud to announce that Trey Erwin, senior director, received his Society of Industrial and Office Realtors (SIOR) designation. Erwin specializes in disposition representation. The SIOR designation is a highly sought-after professional achievement for the most qualified, successful, and experienced commercial real estate practitioners. To become an SIOR designee, applicants must meet the following established requirements: have…
So You Want To Buy A Building? Follow These Steps
One of my favorite quotes is, “If you fail to plan, you plan to fail.” Having worked as a broker in commercial real estate for nearly 20 years, no truer words have ever been spoken. For Houston-area business owners that have an interest in purchasing a building, spending time identifying the type of building and requirements you’ll need can really pay off in the long run. I often encounter small business owners who express an…
Why You Must Perform Due Diligence in Your Commercial Real Estate Deals
If you are purchasing your first building, your due diligence obligation might seem overwhelming. Admittedly, none of the documentation involved in due diligence is fascinating reading material. And while inspecting ducts, pipes and elevator shafts, you may feel that you’re in over your head in more ways than one. But these inspections, reports, documents, and drawings will help you become a savvy, experienced, knowledgeable investor, which is the only real insurance for long-term success. That…
How to Discover Your Capitalization Rate
The capitalization rate is a convenient tool used in commercial real estate to understand the relationship between the asking price of a commercial property and its net income. The cap rate is a simple mathematical ratio. Divide the yearly net operating income (NOI) by the asking price or appraised value of a building. The resulting percentage is what you’re looking for. For example, a commercial building on the market with an asking price of $1…
Lee & Associates – Houston’s Drew Lewis moderated UH’s 2017 Real Estate Symposium Breakfast.
Our very own Drew Lewis moderated UH’s 2017 Real Estate Symposium Breakfast, which was a huge success with a high turnout of the industry’s finest real estate professionals. The breakfast began promptly at 7:30 am and Drew Lewis took the stage to introduce himself to all the seated guests. Keith Richards, executive director of C.T. Bauer College of Business, Latha Ramchand, dean of C.T. Bauer College of Business and Ric Campo, chairman of the board…
Exclusive: Luxury Apartment Developer Buys Land in Growing Houston Area
A roughly 15-acre contiguous tract of land near Lake Houston and Atascocita has been sold to a developer. California-based Lee & Associates’ Houston office brokered the sale on behalf of the buyer, Darrow, which plans to build a Class A luxury apartment complex on the land. Wheless Properties represented the sellers – a group of roughly 20 individual land owners, said Lee & Associates’ Reed Vestal, who represented Darrow alongside Taylor Schmidt. All in all,…