Partners

Houston’s industrial market performed well over the past quarter, with demand increasing, and vacancy dipping to 7.0%. Looking ahead there has been some moderate slowing on the leasing activity front and the construction pipeline continues to contract, down 36% from last year. Still, the market continued its 15-year streak of positive net absorption, signaling resilient demand, especially in the Warehouse/Distribution segment, which continues to dominate leasing activity. Average asking rates held steady at a record-high $0.79 per sq. ft., further underscoring the market’s ongoing strength in the face of reduced construction deliveries and slowing leasing momentum. https://lnkd.in/gtv-qtSy

Over the past decade, Griff Bandy and Partners have worked closely with Castle Biosciences, Inc. to advise on their office space needs. With their commitment to staying in Friendswood and an increased need for space, we pursued a “buy dirt & build” approach to establish their new headquarters. By leveraging Partners’ full suite of services, including development, we’re providing a single-source solution that gives Castle Biosciences ownership of their headquarters, with room for future expansion and site amenities. This project underscores our commitment to supporting clients’ growth and long-term vision. ”It has been great working with the leadership team of this growing, high-tech, healthcare organization that is so committed to its long-term goals. The idea of building their future HQ and utilizing our platform to help them realize this dream has been a wonderful fit. Excited to see the final delivery here," said Mr. Bandy

Please join us in welcoming Bentley Rysedorph to the firm as Creative Director! Bentley brings a wealth of creativity and expertise to the firm and will play a pivotal role on the Corporate Marketing team. Her focus will include elevating pitches and presentations with stunning graphics and innovative designs, and further enhancing our overall brand, storytelling capabilities, and visual acumen, among other responsibilities.

The Austin industrial market is experiencing a cooling trend, with net absorption decreasing to 363,217 sq. ft. this quarter, a 59% drop year-over-year. Flex and Manufacturing properties exhibited negative absorption, while Warehouse/Distribution properties remained strong. Leasing activity has also declined, down 21% from the previous quarter. Despite these softening indicators, the construction pipeline remains at a record 19 million sq. ft., with 50% pre-leased, suggesting that supply may outpace demand in the near term. The vacancy rate dipped slightly to 10.2% but remains elevated compared to the prior year, and average rental rates held steady at $1.25 per sq. ft., matching prior market highs. https://lnkd.in/gwWeVcEJ

Partners is pleased to announce that Evergen Equity, LLC has successfully acquired a prominent industrial outdoor storage (IOS) project in Southwest San Antonio’s manufacturing hub. Partners, which was already actively involved in the leasing of the property, will continue its role under the new ownership, ensuring seamless operations and strategic growth. For leasing inquiries, contact John Colglazier Jr. - SIOR, Kyle Kennan, Stan Nowak, SIOR, and David Oldham https://lnkd.in/g54N-GAe

The DFW industrial market remains stable, with the overall vacancy rate decreasing slightly to 9.5% as of Q3 2024. However, due to the recent increase in vacancy over the past few quarters, there is now a surplus of available industrial space. This has prompted landlords to become more aggressive with lease terms, leading to a drop in effective rental rates. Despite this shift, market conditions are still considered neutral, with neither landlords nor tenants having a significant advantage in negotiations. Construction activity has slowed dramatically, with both deliveries and the pipeline of projects under construction down by over 60% year-over-year. Leasing activity has also declined, though demand and supply are closer to historic norms. https://lnkd.in/gixY-BCP

Houston’s metropolitan area is undergoing an exciting period of growth, with its northern suburbs at the heart of this expansion. The Woodlands, Conroe, and Montgomery County are attracting new residents, businesses, and developments, creating a dynamic and rapidly evolving landscape. Over the past 20 years, major commercial developments (100,000 sq. ft. or greater) have totaled more than 73 million sq. ft. across Montgomery County. Of those, multifamily has dominated as the households have expanded northward. Industrial/Flex properties, along with office and retail developments have followed suit. https://lnkd.in/gphyF6hZ

Houston Office Tenant Representation experts Dan F Boyles, Jr. and Brent Bishop, MBA arranged a 26,530-sq.-ft. sublease on behalf of Kodiak Gas Services, LLC located at 9950 Woodlock Forest Drive in The Woodlands, Texas. This transaction expanded Kodiak Gas Services HQ to encompass all of floors 18-20. https://lnkd.in/ggPz3pR8

Partners Finance is pleased to present an opportunity to invest in a medical and professional services complex within the rapidly growing Easton Park community in Southeast Austin. The development spans ±4.2 acres and will be built in multiple phases to accommodate a variety of medical and professional tenants, responding to the community’s increasing demand for healthcare and professional services. Accredited investors can invest online using Partners Finance's digital platform ➡️https://lnkd.in/g44SqqAk Disclosure: Securities offered through Partners Finance – Member FINRA / SIPC. Partners Finance is an affiliate of Partners Real Estate, Partners Capital, and Partners Development. Partners Finance is only accepting accredited investors currently. To qualify as an accredited investor, you must meet certain thresholds as defined by the Securities and Exchange Commission under rule 501 of Regulation D. Private placements are illiquid investments and are intended for investors who do not need a liquid investment. Investing in private placements is speculative and involves a high degree of risk, including the potential loss of the entire investment.

Ackerman & Co. and Partners have announced the completion of Corporate Drive Industrial Complex, a new Class A industrial park located less than a mile from I-35 in Selma, Texas. “Corporate Drive showcases Ackerman’s commitment to meet the increasing demand for Industrial space in Texas,” said Jeff Bryant, Principal & Senior Vice President, Ackerman & Co. “This project builds on the success of our 307,000-square-foot Doerr Lane Logistics Center in nearby Schertz, Texas, which our leasing team at Partners fully leased before construction was even finished. We’re focused on identifying prime locations throughout the Texas Triangle that have access to large-scale utilities like power, water, and fiber to meet the rising industrial demand.” John Colglazier Jr. - SIOR, Kyle Kennan and Lindsey Tucker are leading leasing efforts at Corporate Drive and TriPoint Corporate Drive Industrial Complex is designed for optimal distribution efficiency, featuring 32’-36’ clear heights, 60 dock doors, two drive-in bays, and zoning for I-1. With flexible space configurations, the complex is ideal for owner-users or multi-tenant occupancy. It also features 647 parking spaces with the option for 88 additional spaces, ESFR fire protection, and a robust 480/277 3-phase power setup with 2,000-AMP capacity. https://lnkd.in/dwFyShS5