HOUSTON—Talk to anyone with knowledge of Houston commercial real estate and all conversation points to the elephant in the room -- the price of oil and how it will affect the city's once-boffo development scene.

Louis B. Cushman, vice chairman of Cushman & Wakefield Inc., couldn't agree more.

“The economy in general and virtually all segments of the real estate market are hugely challenged by the energy industry and the downturn in crude oil pricing,” Cushman recently told GlobeSt.com. “As the 'Energy Capital of the World,' the impact is reverberating throughout all sectors of the economy that feed off the oil and gas industry, with varying degrees of hurt to be felt over the next 12-18 months.”

Cushman and other colleagues will address the issue and more in the “State of the Market Roundtable” at the upcoming RealShare Houston conference on March 31 at The Houstonian.

A broad swath of local leaders in the Greater Houston area – including moderator Sandy Benak with Granite Properties Inc. – will discuss the current state of the market across all property types, examine challenges and opportunities presented by the current environment, and leave the audience with a forecast for 2015 and beyond.

Cushman & Wakefield was founded in New York City in 1917 by the late J. Clydesdale Cushman and the late Bernard Wakefield, Louis Cushman's grandfather and great uncle, respectively. The younger Cushman moved to Texas in 1971 from New York, charged with opening and heading up the firm's Houston office.

For over 40 years, the industry vet has seen Houston transform. And now, with the completion of the Grand Parkway, connecting Interstate 10 to U.S. 290, an emerging region is offering more affordable land prices. Cushman sees the city's breadth as a plus and minus, as it relates to development.

“Mobility, i.e., traffic, due to the job growth, previously as much as 140,000 per year and now down to 60-70,000 per year…but still with an ever-increasing negative impact on 'lifestyle,' which has been such a major driver of Houston's growth for so many years,” he says.

With a specialty in office tenant representation, Cushman is sure to bring keen insight to the panel.

“[I hope attendees will gain] an understanding of what is driving Houston's economy and where it is likely headed, but at the same time the areas of concern – including overbuilding.”