As we embark upon our 12th anniversary of pointing clients in the right direction, the recent months have been interesting to say the least, with the volatility of the energy and oil marketplace, and in particular, oil’s impact on the commercial real estate industry. We are reminding our clients that in Texas and other markets dependent on energy employment, the current state of the oil industry and its lower than normal prices has generally been considered a good thing nationally for commercial real estate. While the long-term future of oil prices remains a mystery, the larger U.S. economy and retailers will still be able to ride this wave for the time being.
Closer to home, the fact that oil prices have remained relatively low and are expected to remain steady or even decline in the foreseeable future has created a positive impact in the retail sector. With reduced gas prices, transportation costs are down and discretionary income is more available, which results in additional retail spending. However, while this climate might be a parade for retailers and shopping center owners, it’s not always good for office markets such as ours in the greater Houston area, where demand for office space is adversely affected.
As the winter season rolls out, many exciting developments continue to progress, such as the Havenwood Office Park at 25700 I-45 North, a 250,000-square-foot, LEED Silver Certified, Class A office building that is targeted for completion in first quarter of 2016. We also have a wide selection of several featured properties currently available for sale and/or lease.
Most notably, we are proud to have been nominated for the 2015 Small Business of the Year award by the Lone Star College’s Small Business Development Center and recognized as one of three finalists in the Montgomery County area, which had nearly 250 nominees and 26 applicants. It is a great honor just to be considered among the many great small businesses in Montgomery County.
Whether you are a commercial property owner, developer, investor or tenant, we invite you to learn how we combine our commercial real estate expertise with cutting-edge marketing and advisory services to help you achieve your goals. We encourage you to contact our team of qualified professionals at 281-367-2220 or visit our website at www.jbeardcompany.com.
–Jeff Beard, CCIM
President of The J. Beard Real Estate Company
