REGIONAL
OUTLOOK
SOUTH
Houston's Big Deal
A new spec office building is big
news in most markets; in Houston,
the story is that the property
is fully leased before it even
opens. Technip USA will occupy
all 17 floors of Energy Tower III
being developed by Mac Haik
Realty, according to the Houston
Business Journal. The French
energy company signed a 15-year
lease for the 428,831-sf class A,
LEED-certified tower scheduled to
open in January 2014. As a sign of
Houston's booming economy, five
other developments have broken ground in the Energy Corridor along Interstate 10,
and another 18 are in proposal stages, according to Jones Lang LaSalle.
N AT I O N A L
Top 5 Favorite Places
W E S T
Á
San Diego County Multifamily
Transaction Volume
in millions
Percentage of U.S. population 14 and older that visited these businesses
in March 2013
McDonald's
Walmart
Subway
Burger King
Starbucks
Source: Placed Insights
W E S T
49.0%
38.8%
37.8%
24.3%
23.9%
Á
Phoenix Rises
Source: Cassidy Turley/RCA
42
July | August | 2013
A predicted 3.5 percent employment growth rate for 2013 has put
Phoenix on the radar of apartment developers, according to Marcus
& Millichap's 2Q13 multifamily report. With slightly more than
1,000 units added in 2012, developers are scheduled to deliver 3,100
units this year, increasing the inventory by 1 percent. Overall, 3,800
units are under construction and more than 17,000 are in the planning stages for the Phoenix metro area.
Commercial Investment Real Estate