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 itβs 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 ownerβs 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 propertyβs 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 itβs 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
π Houston's Industrial Market Soars in Q2! π
π Houston's Industrial Market Soars in Q2! π
Hey there, Houston! π The second quarter has been fantastic for our industrial market, keeping up the solid momentum from the beginning of the year. Tenant demand is skyrocketing, thanks to our growing population and affordable living costs. And guess what? The forecast for the rest of the year looks bright and sunny as potential rate cuts could boost investments and construction. ππΌ
Houston Highlights
π Leasing Activity Surges: The Houston industrial market saw a 25.7% increase in leasing activity, jumping to 10.8 million square feet from 8.6 million SF last quarter, marking a 12.4% year-over-year rise. π’β¨ Integra Mission Critical made the biggest splash with a 1.2 million SF sublease from Wayfair, who never occupied their new building in Prologis' Presidents Park. ποΈ
ποΈ Construction & Vacancy Rates: New supply hit 7.3 million SF, outpacing the current net absorption of 3.2 million SF, which is a 4.7% increase from last year. The vacancy rate nudged up by 40 basis points to 7.7%. But don't worry, the construction pipeline is still 48% pre-leased, although it has shrunk to 12.1 million SF from 33.7 million SF year-over-year. π
π² Rental Rates: Rents are climbing, too! We saw a rise to $9.58 PSF NNN from $9.43 PSF NNN last quarter, representing a 4.8% growth rate year-over-year. ππ°
The Market Rebalancing Act
Despite a slowdown in construction after years of record-setting levels, leasing activity is picking up. With a solid 48% of under-construction properties pre-leased, we're on track to more sustainable levels. π’
π Steady Absorption & Rising Rents: Net absorption is holding steady at 3.2 million SF, and rental rates are up 4.8% year-over-year. However, the vacancy rate at 7.7% continues to rise due to the influx of new construction. We might see rental rates plateau in the second half of 2024 before climbing again in late 2025. π
Construction Pipeline Shrinks
Developers face challenges in capitalizing new projects due to today's debt and equity markets, along with landowners' high pricing expectations from 2021 and 2022. But with strong leasing activity, developers are back hunting for new land positions heading into 2025. ποΈπΌ
Opportunities for Tenants
Now could be a golden opportunity for tenants to strike advantageous long-term deals, especially in larger big-box vacancies. Landlords, responding to slight overbuilding in certain sectors, are offering aggressive concession packages. But this window might not last, given the strong leasing activity and limited future deliveries. ππ’
Owning vs. Leasing Trend
More developers are selling to owner/users, who believe owning real estate is a great hedge against inflation. With Houston's business-friendly environment and low cost of living, many tenants are relocating here, even willing to pay a premium to own a building. This trend boosts sales and diversifies supply chains. ποΈπ
Cautious Optimism for 2024
As we head into an election year, we remain cautiously optimistic. Reduced vacancies due to rising overall requirements are happening, although bulk distribution faces a slowdown. Active industries include furniture, retail goods, hardware, solar, building materials, food and beverage, 3PLs, and manufacturing. ποΈπ¨π
Houston's Manufacturing Strength
Houston's strong manufacturing presence, coupled with a lack of quality manufacturing facilities, has spurred build-to-suit activity. The Port of Houston's increasing container volume also bolsters future industrial space demand. With our growing population, multiple deep-water ports, and two international airports, Houston remains a powerhouse in the national economy for logistics and manufacturing. π³οΈβοΈ
Stay tuned, Houston! The future looks bright! πβ¨
#HoustonIndustrial #RealEstateBoom #TenantDemand #Construction #LeasingActivity #HoustonGrowth #CommercialRealEstate #HoustonEconomy
Need more help? Iβm an experienced Commercial Real Estate Broker, please feel free to reach me at 281-222-0433.
https://www.houstonrealestatebrokerage.com/
https://www.commercialexchange.com/agent/653bf5593e3a3e1dcec275a6
http://expressoffers.com/[email protected]
https://www.tenantbase.com/advisors/bill-rapp/
https://buildout.com/plugins/3e7ef61d54725c99fd76ca1f4ae24a348c56a0d4/brokers/[email protected]
www.linkedin.com/comm/mynetwork/discovery-see-all?usecase=PEOPLE_FOLLOWS&followMember=mortgageviking
https://www.fastexpert.com/agents/bill-rapp-95118/
https://www.homelight.com/agents/bill-rapp-tx-595622?preview=t
https://www.houstonrealestatebrokerage.com/houston-cre-navigator
Β© 2023-2024 Bill Rapp, Broker Associate, eXp Commercial LLC
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 itβs 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 ownerβs 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 propertyβs 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 itβs 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.
π Houston's Industrial Market Soars in Q2! π
π Houston's Industrial Market Soars in Q2! π
Hey there, Houston! π The second quarter has been fantastic for our industrial market, keeping up the solid momentum from the beginning of the year. Tenant demand is skyrocketing, thanks to our growing population and affordable living costs. And guess what? The forecast for the rest of the year looks bright and sunny as potential rate cuts could boost investments and construction. ππΌ
Houston Highlights
π Leasing Activity Surges: The Houston industrial market saw a 25.7% increase in leasing activity, jumping to 10.8 million square feet from 8.6 million SF last quarter, marking a 12.4% year-over-year rise. π’β¨ Integra Mission Critical made the biggest splash with a 1.2 million SF sublease from Wayfair, who never occupied their new building in Prologis' Presidents Park. ποΈ
ποΈ Construction & Vacancy Rates: New supply hit 7.3 million SF, outpacing the current net absorption of 3.2 million SF, which is a 4.7% increase from last year. The vacancy rate nudged up by 40 basis points to 7.7%. But don't worry, the construction pipeline is still 48% pre-leased, although it has shrunk to 12.1 million SF from 33.7 million SF year-over-year. π
π² Rental Rates: Rents are climbing, too! We saw a rise to $9.58 PSF NNN from $9.43 PSF NNN last quarter, representing a 4.8% growth rate year-over-year. ππ°
The Market Rebalancing Act
Despite a slowdown in construction after years of record-setting levels, leasing activity is picking up. With a solid 48% of under-construction properties pre-leased, we're on track to more sustainable levels. π’
π Steady Absorption & Rising Rents: Net absorption is holding steady at 3.2 million SF, and rental rates are up 4.8% year-over-year. However, the vacancy rate at 7.7% continues to rise due to the influx of new construction. We might see rental rates plateau in the second half of 2024 before climbing again in late 2025. π
Construction Pipeline Shrinks
Developers face challenges in capitalizing new projects due to today's debt and equity markets, along with landowners' high pricing expectations from 2021 and 2022. But with strong leasing activity, developers are back hunting for new land positions heading into 2025. ποΈπΌ
Opportunities for Tenants
Now could be a golden opportunity for tenants to strike advantageous long-term deals, especially in larger big-box vacancies. Landlords, responding to slight overbuilding in certain sectors, are offering aggressive concession packages. But this window might not last, given the strong leasing activity and limited future deliveries. ππ’
Owning vs. Leasing Trend
More developers are selling to owner/users, who believe owning real estate is a great hedge against inflation. With Houston's business-friendly environment and low cost of living, many tenants are relocating here, even willing to pay a premium to own a building. This trend boosts sales and diversifies supply chains. ποΈπ
Cautious Optimism for 2024
As we head into an election year, we remain cautiously optimistic. Reduced vacancies due to rising overall requirements are happening, although bulk distribution faces a slowdown. Active industries include furniture, retail goods, hardware, solar, building materials, food and beverage, 3PLs, and manufacturing. ποΈπ¨π
Houston's Manufacturing Strength
Houston's strong manufacturing presence, coupled with a lack of quality manufacturing facilities, has spurred build-to-suit activity. The Port of Houston's increasing container volume also bolsters future industrial space demand. With our growing population, multiple deep-water ports, and two international airports, Houston remains a powerhouse in the national economy for logistics and manufacturing. π³οΈβοΈ
Stay tuned, Houston! The future looks bright! πβ¨
#HoustonIndustrial #RealEstateBoom #TenantDemand #Construction #LeasingActivity #HoustonGrowth #CommercialRealEstate #HoustonEconomy
Need more help? Iβm an experienced Commercial Real Estate Broker, please feel free to reach me at 281-222-0433.
https://www.houstonrealestatebrokerage.com/
https://www.commercialexchange.com/agent/653bf5593e3a3e1dcec275a6
http://expressoffers.com/[email protected]
https://www.tenantbase.com/advisors/bill-rapp/
https://buildout.com/plugins/3e7ef61d54725c99fd76ca1f4ae24a348c56a0d4/brokers/[email protected]
www.linkedin.com/comm/mynetwork/discovery-see-all?usecase=PEOPLE_FOLLOWS&followMember=mortgageviking
https://www.fastexpert.com/agents/bill-rapp-95118/
https://www.homelight.com/agents/bill-rapp-tx-595622?preview=t
https://www.houstonrealestatebrokerage.com/houston-cre-navigator
Β© 2023-2024 Bill Rapp, Broker Associate, eXp Commercial LLC
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Let us help your business succeed.
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