OCTOBER 1, 2019 (HOUSTON) – Lee & Associates – Houston, a nationwide leader in commercial real estate services, announces the promotion of John Erck from associate to director. “John’s work ethic, character and talent are just some of the reasons he’s an integral force in our office,” said Reed Vestal, SIOR, CCIM, Lee & Associates’ principal and partner. “He is an essential part of our team and I look forward to watching his career continue to…
Five Reasons Why You Should Pursue Designations
By Mike Spears, SIOR, CCIM, Managing Principal, Lee & Associates – Houston There are jobs and then there are careers. If you’re going to treat your profession of a broker as a job, then you should pursue a different career. Most pursuing a career will find various ways to excel and advance because it’s worth more than a commission, it’s about becoming a trusted adviser. Part of advancing is gaining certifications through higher-end training and…
Choosing an Office Location that Benefits Employees
Q&A with Chris Lewis, managing principal, Lee & Associates – Houston Employees are the heart and soul of a company and are often dubbed as a company’s most valuable asset. Business owners who prioritize their employees’ happiness and well-being typically attract, and more importantly, retain the best talent. When searching for a new office location, companies should take into account the location, available amenities, building energy, access to nature, natural light and length of commute,…
55-year-old Houston Airport Sells in Huge Industrial Development Deal
After more than 50 years of operating as an airport for smaller aircraft, Weiser Airpark in Cypress will soon become a massive industrial park following one of the largest land transactions of the year. Dallas-based developer Trammell Crow Co., in a partnership with New York-based Clarion Partners, closed on the Weiser property at 21904 Northwest Freeway earlier this month. Terms of the deal were not disclosed. Trammell Crow and Clarion Partners purchased the 102.3-acre airpark…
Lee & Associates – Houston: WeekLEE Transactions
Lee & Associates – Houston negotiated the lease of an 88,000-square-foot industrial property at 701 Plastics Avenue in Houston, Texas. C.E. “Trey” Erwin III, SIOR, Robert McGee, SIOR and Dalton Knipe of Lee & Associates – Houston represented the landlord. The tenant is Grow Texas Plastics, LLC. Reed Vestal, SIOR, CCIM and Taylor Schmidt, SIOR, CCIM of Lee & Associates – Houston represented PSC Industries, Inc. in the lease of a 72,319-square-foot industrial space at…
The Evolution of Technology in CRE and How it’s Changed the Industry
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…
High Obesity Rates Demand Redevelopment
Written by Daniel Wyatt, associate at Lee & Associates – Houston Houston was once considered to be the fattest city in America. While it thankfully no longer holds that title, the city still has an obesity problem. According to County Health Rankings and Roadmaps, 27% of adults in Harris County are considered overweight or obese. That percentage is steadily growing at a rate of 1.8% along with other health issues as a result. More than…
Lee & Associates – Houston Expands Service Portfolio With Integrated Services
SEPTEMBER 9, 2019 (HOUSTON) – Lee & Associates – Houston, a nationwide leader in commercial real estate services, expands its portfolio of services with the addition of Shawn Harvey, managing director of integrated services. Our multifaceted integrated services business line includes property management, construction management, accounting, administration, leasing/marketing and building engineering/facilities. Harvey has over 20 years commercial real estate experience with a primary emphasis in real estate accounting and property management. During this time, he’s managed…