Bob Graff, Missouri City, Dr John Novak, Curtice Commercial/Colliers and Jim Cockrill, Coldwell Banker United
O'Connor Office Forecast Luncheon Wed 9/22
Paul Frazier, Brookfield Properties, Laura Van Ness, Central Houston and Brad Fricks with Stream Realty
Melanie Fregoe Edmundson with Phase Eng, Jim Murphy, Westchase District and Kathleen O'Connor with O'Connor and Assoc.
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Paul Frazier feels that the next 3 quarters will be flat or uncertain for CBD market then we could see a bump in gross rental rates to over the current $34. He noted that 67% of Class A space in CBD was built between 1970 and 1984.
Brad Fricks sees recovery in most office markets in 2011 when quite a few leases are up for renewal with The Energy Corridor expected to recover by mid 2011 with Westchase and CBD to follow. The Galleria is now in recovery phase with forecasts of 1 to 3 new buildings projected.
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