DALLAS-Henry S. Miller's annual trend reports for North Texas (as well as Houston and Austin) presented very positive news, and with good reason. According to participants in a survey about the commercial real estate market, investments should increase (with apartments topping the most favored real estate product) vacancies should decrease across all product type and construction is on the upswing.
The report focused on predictions from Henry S. Miller's senior staff – though Sam Kartalis, the company's president and COO says there hasn't been much movement in cap rates, sales volumes continue to increase. Investment/land division president Robert Grunnah also believes the market is coming "into a sustained period of growth and absorption."
Meanwhile, those surveyed outside the firm believed that the Texas commercial real estate market is increasing/recovering (versus much of the nation, which is starting to increase/recover). In Austin, "cranes in the sky" is the norm, while the Houston real estate market is on fire, and retail is rebounding nicely.
Click here to access the report.
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