Your Trusted Houston Commercial Real Estate Brokerage
Viking Enterprise LLC is part of eXp Commercial, an agent-led, cloud-based commercial real estate brokerage with agents across the globe.
Email: [email protected]
Call: (281) 222-0433
Your Trusted Katy / Fulshear & Houston Commercial Real Estate Brokerage
Viking Enterprise LLC is part of eXp Commercial, an agent-led, cloud-based commercial real estate brokerage with agents across the globe.
Looking to invest, buy, sell or lease? We can help.
Looking to invest, buy, sell or lease? We can help.
FEATURED PROPERTIES
OUR FEATURED TENANTS & CLIENTS
eXp Commercial - Viking Enterprise Team's real estate network provides unparalleled commercial real estate services to Tenants and Landlords around the Katy- Houston area. Our knowledge, experience, and reputation sets us apart from many firms.
A commercial property owner might have various plans that would necessitate the services of a commercial real estate broker. Some of the common scenarios include:
1. Selling the Property: If the owner decides itās time to sell the property, a commercial real estate broker can help determine the market value, market the property effectively, and negotiate with potential buyers to get the best possible price.
2. Leasing Space: For property owners looking to lease out part or all of their commercial space, a broker can help find suitable tenants, negotiate lease terms, and ensure the lease agreements meet all legal requirements and serve the ownerās best interests.
3. Acquiring More Properties: Owners looking to expand their portfolio would benefit from a broker's knowledge of the market, access to listings, and negotiation skills to secure additional properties at favorable terms.
4. Property Management: While not all brokers offer this service, some commercial real estate brokers or their affiliates offer property management services. This can be particularly appealing for owners who prefer a hands-off approach or are managing properties from a distance.
5. Market Analysis: Owners considering future developments, renovations, or rebranding of their property might engage a broker for a comprehensive market analysis. This helps in understanding current market trends, the demand for different types of spaces, and potential returns on investment for various strategies.
6. Refinancing: In situations where a property owner is looking to refinance their property, a commercial real estate broker can provide valuable insights into the propertyās current market value, assist in gathering necessary documentation, and even help in finding the best financing options.
7. Partnership or Investment Opportunities: Owners interested in exploring partnerships, joint ventures, or seeking investors for expansion or development projects might use a broker to find and vet potential partners or investors.
8. Consulting on Zoning and Use Changes: When contemplating a change in the use of the property or dealing with zoning issues, a broker with experience in local regulations and the specific property type can provide guidance and strategic planning assistance.
9. Exit Strategy Planning: For owners looking to plan an exit strategy from their investment, whether itās through a strategic sale or a gradual winding down of operations, brokers can provide market insights, timing advice, and valuation services to optimize the exit process.
In any of these scenarios, the expertise and services provided by a commercial real estate broker can save the property owner time and money, while also providing access to a wider network of potential buyers, tenants, and industry professionals. Give us a call today!
Reviews
š” Affordable Housing or Fraud? How Houstonās Redevelopment Funds Were Misused šøā ļø
š” Affordable Housing or Fraud? How Houstonās Redevelopment Funds Were Misused šøā ļø
š„ Houstonās Affordable Housing Scandal: Millions Spent on Empty Office Space! š¢š°
Houstonās Midtown Redevelopment Authority had a visionāa bold plan to curb gentrification and bring much-needed affordable housing to the historic Third Ward. The strategy? Purchase hundreds of lots, slow down displacement, and create opportunities for low-income families.
Sounds great, right? Well, hereās where things take a turn. Instead of funneling the majority of those funds directly into housing, the largest single expense from their affordable housing budget wasnāt homes at allāit was a half-empty office building. š¤Æ
An Office Tower Where Nobody Lives š¢ā
Letās be realāwhen you hear āaffordable housing funds,ā you probably imagine homes, not commercial office space. But in this case, the Midtown Redevelopment Authority thought differently. They built a brand-new office tower with the idea that it would be a hub for nonprofits dedicated to housing. The concept was simple:
š¹ A one-stop shop where families in need could apply for housing assistance, find resources, and connect with programs.
š¹ Affordable rent for nonprofit organizations dedicated to helping the community.
š¹ A ground floor full of retail, providing much-needed business space for local entrepreneurs.
But hereās the reality:
ā The building sits mostly empty.
ā The rent is too high for many local nonprofits to afford.
ā The ground floor retail? Never happened. Instead, they leased the space to a health clinic that closed in 2023 but is still paying rent until 2028.
Where Did the Money Go? šøš¤·āāļø
This isnāt just about one office buildingāitās part of a bigger issue. While the Authority has built some affordable housing, it still owns hundreds of vacant lots that sit untouched and overgrown.
Meanwhile, thereās been major financial mismanagement, with former officials facing felony charges for allegedly misusing $8.5 million in affordable housing funds.
Hereās what happened:
š¹ A former Midtown executive was paying a company he secretly owned.
š¹ He was also in a romantic relationship with one of the biggest vendors, who was paid for work that was never done.
š¹ Money that was meant for maintaining and developing housing was essentially funneled into personal pockets.
Whatās Next for Midtownās Housing Efforts? š®š”
Despite all of this, the Midtown Redevelopment Authority still owns a massive amount of landāland that could be used for affordable housing right now.
The plan moving forward?
š¹ Selling small groups of lots to homebuilders who will create income-restricted homes.
š¹ Continuing to work with nonprofits to develop multifamily housing.
š¹ Figuring out what to do with that half-empty office tower and the retail space that was promised but never delivered.
The big question remains: Will they actually fulfill their mission, or will this be yet another chapter of wasted opportunities?
Final Thoughts: A Community Left Waiting ā³
The Third Ward community was promised affordable housing, retail space, and a community gathering hubābut instead, they got an office building thatās not being used as intended.
Local leaders are frustrated. Residents are frustrated. And those who invested their trust in this initiative are left wondering: When will real change happen?
One thingās for sureāHouston canāt afford more broken promises. š š
What do you think? Should the city repurpose the office space? Should there be more oversight on affordable housing funds?
Drop your thoughts in the comments! š
#HoustonRealEstate #AffordableHousing #CRENews #HoustonDevelopment #CommunityRevitalization
Looking to buy, sell, or finance commercial real estate?
Work with an experienced Commercial Real Estate & Mortgage Broker you can trust!
Call me at 281-222-0433 today!
https://www.houstonrealestatebrokerage.com/
https://www.houstonrealestatebrokerage.com/houston-cre-navigator
https://www.commercialexchange.com/agent/653bf5593e3a3e1dcec275a6
http://expressoffers.com/[email protected]
Ā© 2023-2024 Bill Rapp, Broker Associate, eXp Commercial Viking Enterprise Team
eXp Commercial - Viking Enterprise team real estate network provides unparalleled commercial real estate services to Tenants and Landlords around the greater Katy & Houston MSA area. Our knowledge, experience, and reputation sets us apart from many firms.
A commercial property owner might have various plans that would necessitate the services of a commercial real estate broker. Some of the common scenarios include:
1. Selling the Property: If the owner decides itās time to sell the property, a commercial real estate broker can help determine the market value, market the property effectively, and negotiate with potential buyers to get the best possible price.
2. Leasing Space: For property owners looking to lease out part or all of their commercial space, a broker can help find suitable tenants, negotiate lease terms, and ensure the lease agreements meet all legal requirements and serve the ownerās best interests.
3. Acquiring More Properties: Owners looking to expand their portfolio would benefit from a broker's knowledge of the market, access to listings, and negotiation skills to secure additional properties at favorable terms.
4. Property Management: While not all brokers offer this service, some commercial real estate brokers or their affiliates offer property management services. This can be particularly appealing for owners who prefer a hands-off approach or are managing properties from a distance.
5. Market Analysis: Owners considering future developments, renovations, or rebranding of their property might engage a broker for a comprehensive market analysis. This helps in understanding current market trends, the demand for different types of spaces, and potential returns on investment for various strategies.
6. Refinancing: In situations where a property owner is looking to refinance their property, a commercial real estate broker can provide valuable insights into the propertyās current market value, assist in gathering necessary documentation, and even help in finding the best financing options.
7. Partnership or Investment Opportunities: Owners interested in exploring partnerships, joint ventures, or seeking investors for expansion or development projects might use a broker to find and vet potential partners or investors.
8. Consulting on Zoning and Use Changes: When contemplating a change in the use of the property or dealing with zoning issues, a broker with experience in local regulations and the specific property type can provide guidance and strategic planning assistance.
9. Exit Strategy Planning: For owners looking to plan an exit strategy from their investment, whether itās through a strategic sale or a gradual winding down of operations, brokers can provide market insights, timing advice, and valuation services to optimize the exit process.
In any of these scenarios, the expertise and services provided by a commercial real estate broker can save the property owner time and money, while also providing access to a wider network of potential buyers, tenants, and industry professionals. Give us a call today!
Find the perfect location for your business.
Let us help your business succeed.
š” Affordable Housing or Fraud? How Houstonās Redevelopment Funds Were Misused šøā ļø
š” Affordable Housing or Fraud? How Houstonās Redevelopment Funds Were Misused šøā ļø
š„ Houstonās Affordable Housing Scandal: Millions Spent on Empty Office Space! š¢š°
Houstonās Midtown Redevelopment Authority had a visionāa bold plan to curb gentrification and bring much-needed affordable housing to the historic Third Ward. The strategy? Purchase hundreds of lots, slow down displacement, and create opportunities for low-income families.
Sounds great, right? Well, hereās where things take a turn. Instead of funneling the majority of those funds directly into housing, the largest single expense from their affordable housing budget wasnāt homes at allāit was a half-empty office building. š¤Æ
An Office Tower Where Nobody Lives š¢ā
Letās be realāwhen you hear āaffordable housing funds,ā you probably imagine homes, not commercial office space. But in this case, the Midtown Redevelopment Authority thought differently. They built a brand-new office tower with the idea that it would be a hub for nonprofits dedicated to housing. The concept was simple:
š¹ A one-stop shop where families in need could apply for housing assistance, find resources, and connect with programs.
š¹ Affordable rent for nonprofit organizations dedicated to helping the community.
š¹ A ground floor full of retail, providing much-needed business space for local entrepreneurs.
But hereās the reality:
ā The building sits mostly empty.
ā The rent is too high for many local nonprofits to afford.
ā The ground floor retail? Never happened. Instead, they leased the space to a health clinic that closed in 2023 but is still paying rent until 2028.
Where Did the Money Go? šøš¤·āāļø
This isnāt just about one office buildingāitās part of a bigger issue. While the Authority has built some affordable housing, it still owns hundreds of vacant lots that sit untouched and overgrown.
Meanwhile, thereās been major financial mismanagement, with former officials facing felony charges for allegedly misusing $8.5 million in affordable housing funds.
Hereās what happened:
š¹ A former Midtown executive was paying a company he secretly owned.
š¹ He was also in a romantic relationship with one of the biggest vendors, who was paid for work that was never done.
š¹ Money that was meant for maintaining and developing housing was essentially funneled into personal pockets.
Whatās Next for Midtownās Housing Efforts? š®š”
Despite all of this, the Midtown Redevelopment Authority still owns a massive amount of landāland that could be used for affordable housing right now.
The plan moving forward?
š¹ Selling small groups of lots to homebuilders who will create income-restricted homes.
š¹ Continuing to work with nonprofits to develop multifamily housing.
š¹ Figuring out what to do with that half-empty office tower and the retail space that was promised but never delivered.
The big question remains: Will they actually fulfill their mission, or will this be yet another chapter of wasted opportunities?
Final Thoughts: A Community Left Waiting ā³
The Third Ward community was promised affordable housing, retail space, and a community gathering hubābut instead, they got an office building thatās not being used as intended.
Local leaders are frustrated. Residents are frustrated. And those who invested their trust in this initiative are left wondering: When will real change happen?
One thingās for sureāHouston canāt afford more broken promises. š š
What do you think? Should the city repurpose the office space? Should there be more oversight on affordable housing funds?
Drop your thoughts in the comments! š
#HoustonRealEstate #AffordableHousing #CRENews #HoustonDevelopment #CommunityRevitalization
Looking to buy, sell, or finance commercial real estate?
Work with an experienced Commercial Real Estate & Mortgage Broker you can trust!
Call me at 281-222-0433 today!
https://www.houstonrealestatebrokerage.com/
https://www.houstonrealestatebrokerage.com/houston-cre-navigator
https://www.commercialexchange.com/agent/653bf5593e3a3e1dcec275a6
http://expressoffers.com/[email protected]
Ā© 2023-2024 Bill Rapp, Broker Associate, eXp Commercial Viking Enterprise Team
Find the perfect location for your business.
Let us help your business succeed.
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