After being in the business for 5 years now (yes I started in the bottom of the 2009 market), I have been wanting to learn more of the financial details related to the investment side of the business. We are working on many investment requirements for clients and the best investment education is the CCIM Designation (http://www.ccim.com/about-ccim/what-ccim).
I have completed two out of the four week long education requirements, with two to go. I will need to complete a portfolio indicating my career deal volume, as well as, three different recommendation letters from a client, broker and the local CCIM chapter. I am planning to take the comprehensive exam in Los Angeles in October of this year to complete my designation and officially become a CCIM! www.ccim.com
CCIM (Certified Commercial Investment Member) is a global commercial real estate network across North America and 30 countries. This in depth skill set includes financial analysis, user decision analysis, market analysis, and investment analysis to assist clients with their real estate decisions. There are more than 13,000 real estate professionals that have earned this CCIM designation.
CCIM Luncheon – Director of Planning for City of Houston – Patrick Walsh – April 2014
The newly elected Director of Planning spoke about the exciting projects going on in the City of Houston. There are already 2,600 plat submittals this year compared to 2,178 for all of 2013, so the public works department is busy (and sloooooowwww IMO).
Houston was named the #1 city nationwide for population increase so plans are getting set in place for parking, different forms of commuting and METRO Light Rail expansion. If you have not used your eco-friendly two wheeler transportation device in a while, get ready because biking will have to become a more common transportation method, says Walsh. The Comprehensive Biking Plan includes additional striping for safe biking on the streets and a Bayou Trail Initiative to complete biking and pedestrian trails throughout all of the Houston bayous.
The City of Houston has developed a new mapping tool to help be more transparent with the citizens of Houston. From looking at the permits pulled to platting applications, you can view specific activity in your neighborhood. It shows you the police and fire jurisdiction, as well as, local parks and historical districts. Visit mycity.houstontx.gov and then click on My City Map Viewer to check it out!
Ric Campo, President of Camden Properties, is on the Houston Super Bowl Board and spoke at this month’s CREW (Commercial Real Estate Women) monthly luncheon. The process for applying as a city candidate included securing 20,000 hotel rooms, booking all large venues over 5,000 SF, scheduling 750 buses, fire and security commitments and contracts with all city officials (all on some unknown weekend in January)! To fulfill the development requirements, three new hotels will be built downtown including Hampton Inn and JW Marriot, as well as, three new multi-story apartment projects, and three new office towers.
What sold the Super Bowl Host Committee on Houston (and not Miami) was a video (https://www.youtube.com/watch?feature=player_embedded&v=CSuiK5LWHaU) highlighting Houstonians LIVING for football. The two untapped target markets for the Super Bowl are the Hispanic population and women so that became a large part of the theme. The 10 day event will be called Super Bowl El Centro and requires 10,000 volunteers, $45-50 million and many beautification projects. George R. Brown is planned to get a new face lift and planting new trees around downtown will be part of the decorations (yes, trees can be permanent decorations)!
Forbes said Houston is “the coolest city in America” so we are going to show this off in 2017! We live for football!!
Visit the official Houston Super Bowl website for more information (http://housuperbowl.com)
Houston Office market ended the first quarter 2014 with a vacancy rate of 11.2%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 2,549,293 square feet in the first quarter. Vacant sublease space increased in the quarter, ending the quarter at 1,880,574 square feet. Rental rates ended the first quarter at $26.27, an increase over the previous quarter. A total of 36 buildings delivered to the market in the quarter totaling 2,473,507 square feet, with 12,599,197 square feet still under construction at the end of the quarter.
Net absorption for the overall Houston office market was positive 2,549,293 square feet in the first quarter 2014. That compares to positive 1,823,837 square feet in the fourth quarter 2013, positive 1,840,096 square feet in the third quarter 2013, and positive 709,463 square feet in the second quarter 2013.
At the end of the month, total storage in 114 of the state’s major water supply reservoirs was at 20.23 million acre – feet*, or 64 % of their total conservation storage capacity. This is 84,500 acre – feet more than a month ago but 472,740 acre – feet less than the storage at this time last year. No data was reported for Electra and Twin Buttes. Electra has been empty since the end of October, 2012, and Twin Buttes has been empty since mid – November, 2013.
Aldi Inc. will make a big splash in Rosenberg when it breaks ground on its new distribution center and division headquarters and opens another store next month.
The 650,000-square-foot distribution center and division headquarters will break ground 8 a.m. May 1 at 777 Highway 90 A W. Later that day, the ribbon cutting and open house will be held at 10:30 a.m. for the store at 6450 Reading Road. Rosenberg is west of Sugar Land in Fort Bend County.
The distribution and division headquarters will open in early 2016 and is expected to bring more than 150 jobs and more than $60 million to the Rosenberg economy. Illinois-based Graycor is the contractor on the $44 million project, the Houston Business Journal previously reported.
As urban sprawl continues Houston’s land use footprint continues to absorb more and more farm land in the outskirts of town further expanding suburban communities. If this continues…we will not have any more food.
A rapidly declining beef population means we will eat our last steaks in Texas in 2017. This is very sad.