Houston’s Leading Commercial Real Estate Firm
CXRE Group is a Houston commercial real estate broker based in Houston, Texas. Additionally, we have years of experience in the Houston market. On top of that, our agents and services are tenant focused. In light of this, our team puts you and your needs first. In fact, our goal is finding assets that best fit your portfolio. As a result, we handle everything from office leasing all the way to commercial property management.
Due to our decades of experience, we an inside track on deal. Generally, we hear about deals sooner than other firms. On top of that, we get them done quickly. Altogether, our agents focus on your assests. To begin with, we conisder what assets you already have. Then we learn about what you need. In the end, we create a plan that offers the most benefit to you. All in all, we serve you with excellence. What’s more, we provide the same great service to every client, every time.
Years of Houston Experience and Expertise
In detail, we do the entire range of facility services ourselves. In light of this, we know the real cost of owning Houston commercial real estate. Additionally, we know how to gauge alternative space usage. Specifically, we help owners and tenants to both increase their financial benefits. In other words, we bring years of knowledge and experience to every commercial real estate transaction.
Although we specialize in Houston office space, we also handle more than office buildings. We also handle medical office buildings, retail strip centers, raw land, and industrial warehouses. In light of this, our agents can help you buy, sell, and evaluate all types properties. In brief, CXRE is your advocate in Houston.
Above all, our team offers you a major benefit. Specifically, our in-house compliance, technical, and engineering experts are always on your side. At the same time, our services help you keep tenants in your properties. Basically, we enable our clients’ Houston properties to reach their full potential.
Bank of America Center, 700 Louisiana St #3950,
Tel : 281-227-5732
North Houston Administrative Office
19747 U.S. Highway 59 North #210,
5 STEPS TO COMMERCIAL REAL ESTATE INVESTING IN HOUSTON
Houston Commercial Real Estate Services
Managing Across The Houston Area
Harris County Commercial Real Estate
Altogether, CXRE covers the entire Houston office market. From the Woodlands to the CBD to the West Beltway 8 to the Clearlake/NASA, we work all over. In effect, if there is commercial real estate, we’re there. Because of this, we know the Houston submarkets. On top of that, we can help with all of your Houston office leasing needs.
Houston’s Largest Submarket Trends
Overall, Houston’s largest submarket trends hinge on two main factors. Specifically, vacancy and leasing rates. In general, the closer you are to Houston’s CBD, the higher the asking rates become. So, it’s no surprise that leasing office space costs more in the CBD. For example, Houston CBD Class A office space for over $43 per square foot. In contrast, Class B offices lease for as little as $16 per square foot in some suburban submarkets.
On top of that, another trend is increased vacancy. Although overall average office vacancy is up, vacancy rates vary throughout Houston. For instance, vacancy in some suburban areas is as high as 44%. At the same time, some desirable submarkets (CBD, The Woodlands, Greenway, Galleria) have single-digit vacancy rates.
In particular, the Galleria goes against Houston’s largest submarket trends. Not only is it Houston’s second largest office submarkets, but the vacancy rates are below average. On the whole, the Galleria is an ideal location for business. And it also has plenty of options for leisure. Because it is one of Houston’s most desirable commercial areas, rental prices have steadily risen. At the same time, vacancy has fallen.
Another of Houston’s largest submarket trends is westward growth. Because West Houston is one of the fastest-growing suburban areas, it is a hotspot for relocation. On the whole, much of Houston’s recent suburban growth has been to the west. Primarily, this growth is outside of Houston’s Inner Loop.
Further west are areas like West Beltway 8, Katy Freeway West, and Katy Freeway East. Due to development along Beltway 8, this westward expansion has led to growth in commercial office space. In the coming years, expect more growth in Houston’s western commercial office markets.
Information On Houston Office Market
In the city of Houston, there are over 2.3 million people. However, in the entire Houston metro area, there are over 6.3 million people. On top of that, the city continues to grow. For instance, between 2016 and 2017, almost 100,000 people moved to Houston. This growth is second in the nation only to Dallas-Fort Worth. What’s more, experts predict this growth will continue. Eventually, Houston should have 2.5 million residents sometime in 2020.
A Demand for More Commercial Office Space
Due to a growing population, demand for office space is also growing. However, Houston area office occupancy rates are very different. In general, Houston’s office vacancy has been on the rise for a few years. For example, Houston office vacancy was up to 24.5% in Q2 2018. This is in contrast to from 13.4% vacancy in Q4 2014. For this reason, Q2 2018 was the 14th quarter in a row with rising office vacancy. In general, more vacancy and too much available office space is good news for office tenants. Indeed, Houston tenants have their choice of great office spaces.
In addition to more vacancy, new office development in Houston has slowed. By the end of Q2 2018, Houston had only 176,000 square feet of new deliveries. In addition, only 503,000 square feet will be delivered by the end of 2018. In view of this, 2018 could be the lightest year for new development since 2010.
PROACTIVE OWNER REP SERVICES
On the whole, we maximize lease term lengths and revenue. We do this through deep relationships, remarkable client service, and proactive engagement with real estate users across greater Houston.
TURN-KEY BROKERAGE AND MANAGEMENT
Chiefly, we provide a complete range of Houston commercial real estate services. We offer brokerage, lease administration, asset financial management, build-out project management, facility maintenance, & stakeholder reporting. And we service client assets across the greater Harris County region.
Without a doubt, efficiency is doing only the right things. CXRE® focuses client resources on providing efficient services.
CXRE® has been the leader in doing things right. In general, we do this through innovative business modeling, reporting, and asset maximization.
Indeed, we value great service. As a result, CXRE® sends our property managers to AAA Five Star Resorts for training in remarkable client service.