Following up on our story about the possible future of the former site of Astroworld, we thought it was worth mentioning another tidbit of news we found exciting. This could be huge. Several commercial real estate insiders have told us that Top Golf, the awesome golf driving range concept with stateside locations in Dallas, Chicago, and Northern Virginia is on its way to the Greater Houston area in the near future. They also have several locations in the United Kingdom.
Since closing in 2005, the site of the former Six Flags: AstroWorld amusement park has sit unused and all but forgotten. The park's 104 acres have traded hands in that time - a 2010 report from the Houston Chronicle noted that a Fort Worth investment firm purchased it solely for its appreciation value.
If cost were of no concern, most business owners would probably prefer to operate out of a new, state-of-the-art commercial space. As always, though, cost considerations must always be taken into account and Dallas office space is no exception to the rule.
Another report on the commercial real estate picture in the United States points to the continuing demand for new office and warehouse spaces driving up office leasing activity in key markets around the country.
The burgeoning oil and gas market in the Houston area continues to push ongoing commercial real estate development and encourage new investments in local infrastructure. Now, one real estate team has announced plans to construct a 20-story tower west of Houston to house additional office space to serve this sector and others.
Small business owners with intentions of operating in the South should look no further than Austin, Texas, which continues its three-year reign atop The Business Journals' rankings of best southern cities for these organizations. This should spell good news for providers of Austin office space.
Office leasing activity among businesses around the United States continued to improve during the first quarter of 2012, although larger gains were reported in certain key markets, such as Houston.
The Shops at Park Lane in Dallas, Texas contains dozens of stores and restaurants in an outdoor mall setting, allowing shoppers to spend hours outside if they so desire. The shops sit on a 33.5 acre space, so there is always room for additional development. With this in mind, two Southern Methodist University graduates want to bring an American pastime - with a contemporary twist - to the area.
Along with the other major office markets in Texas, Houston office space may be effected by urban areas leading population grown for the first time in 20 years.
The current commercial real estate market appeals to buyers in major cities such as New York City, Dallas, Houston and Austin. However, experts say businesses conducting an office space search may soon increasingly find themselves leasing properties owned by foreign investors, who consider the market's current position ideal for investment.
When real estate developer Kevin Williamson arrived in Austin 14 years ago, the West Sixth Street district was not much to write home about - a deli and a steakhouse were the main attractions. They were, at least, until Williamson helped pioneer the expansion of several businesses that have transformed the area into a vibrant destination spot, which has positively effected Austin office space.
While traditional commercial real estate owners in Houston continue to buy up properties to lease to members of the city's growing business community, one notable property remains dormant, unused and unlikely to attract any attention from a commercial real estate perspective.