TX CRE Brief: January 2021
Welcome!
For quite some time, I’ve been immersed in the world of commercial real estate. First as a broker, then in various sales and sales management roles within companies that served the commercial real-estate industry. Inquisitive, and somewhat of a teacher by nature, I’ve always been one to read, investigate and share. What follows, is a little glimpse into the types of information I’ve shared with my counterparts and team-members over the years.
I hope that whoever stumbles across this page will leave more informed and hopefully more inquisitive than when they arrived. Look for monthly releases followed by a weekly cadence by mid-year.
Please bear with me as I move content over to this site. And of course, please expect typo’s…
Thank you!
DEALS AND ANNOUNCEMENTS
Dallas Business Journal reports that Plano Sees Medical Office Building Sell, Multiple Leases Signed.
NewsTalk Texas shares that San Antonio’s “The Rim” sold for $220-million. The Rim is the largest outdoor retail center in TX. Hines was the seller and Big V Acquisitions was the purchaser.
Triten Real Estate Partners purchased Market Square Mall in Plano. In an adaptive re-us play, Triten plans to convert the 300,000 project into a pedestrian focused urban environment with living units, creative office, and restaurant space.
NewsTalk Texas shares that Samsung is planning a $10 billion chip manufacturing facility in Austin. In October 2020, is it purchased 257.5 acres near its existing facility.
ECONOMY & MARKETS
On January 29, 2021, Texas A&M Real Estate Research Center reports that:
· Initial unemployment insurance claims in Texas decreased for the second straight week to 47,300 the week ending Jan. 23.
· This brings the total since March 21 to 4.27 million, according to data from the U.S. Department of Labor (DOL).
· Continuing unemployment claims decreased to 334,500 the week ending Jan. 16.
· Last week, U.S. initial claims decreased to 846,600 the week ending Jan. 9, bringing the 45-week total to 76.5 million.
· Using data from the DOL and the Employment and Training Administration, the Center has estimated unemployment claims for Texas' major and border metros since March 21:
o Houston-The Woodlands-Sugar Land, 980,300 claims;
o Dallas-Fort Worth-Arlington, 935,200 claims;
o San Antonio-New Braunfels, 290,500 claims;
o Austin-Round Rock, 244,000 claims;
o McAllen-Edinburg-Mission, 118,300 claims;
o El Paso, 102,600 claims;
o Brownsville-Harlingen, 52,000 claims; and
o Laredo, 29,700 claims.
BOOK SPOTLIGHT
Peter Drucker was an extremely important thought leader who has long been regarded as “the man who invented management”. He believed in building effective and responsible institutions for the betterment of society and as a defense against societal collapse. In short, he believed that management, practiced well was a bulwark against evil.
In the January 25 Daily Drucker, the thought for the day was based upon “Reinvent Yourself: Knowledge people must take responsibility for their own development and placement.”
To that end,“Managing Oneself” by Peter F. Drucker, Harvard Business Review Press is a wonderful guide. This book is a re-print of a Harvard Business Review article which includes the original essay “Managing Oneself” as well as a second essay entitled “What Makes and Effective Executive.” I highly recommend this book!
DISCLAIMER
All data included is from publicly available sources with attribution made whenever and wherever possible. In some instances, article links will take you to a paid source. Please follow support all of the linked sources. Each is definitely worth a subscription and some sort of support.