Houston leads Austin, Dallas in new office buildings
When it comes to commercial real estate, Houston is on the top of Austin and Dallas in number according to CBRE. The report cited that the previously rich energy industry ensured Houston’s commercial real estate sales grow in number, but it had also been the cause of its vacancies when the oil slump occurred. Despite these vacancies, the report cited that Houston’s old and historic buildings are now being renovated, adding to new office spaces in the area. The most notable renovation currently in progress is the Central Business District of the area, specifically Allen Center. Several other renovations are also underway in Houston and is expected to bring in companies like United to the city by the time of its completion.
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