Ed Wulfe Retail Forecast at O'Connor & Associates March 23rd, 2011

Ed Wulfe could not remember a worse time in real estate than 2008 - 2010. All the negative factors lined up for that perfect storm. But today the corner has turned and positive signs are showing up with population growth being the key factor.
 Other key factors are an occupancy rate of 86% and  stable rental rates. New retail being built and opened in 2011 will hit around 1 M Sq Ft. a huge drop from 6M in 2008 and 3M in 2009. Less space being built should push up rental and occupancy rates. Anchor tenants will play a major role with HEB, Walmart, Phoenicia and Whole Foods leading the way.
Another standout has been Restaurants. Everyone thinks they are a chef. Some well funded ones are even anchor tennants.

REDNews Advisory Board Appreciation Party

We changed the format of our Advisory Board meeting and turned it into a party Thursday night, September 30th at Grotto.

Kevin Dalrymple with Clay & Co, Jim Carney with REDNews, Liz Westcott-Brown with Tarantino, Beth Young and Henry Hagendorf with Grubb & Ellis. Thomas Boran with REDNews, Angela Sandoval and Marisol Varate with Tarantino, Suzanne Page-Pryde with Page-Pryde Properties and Peggy Rougeou with Tarantino

Ginger Wheless with REDNews, Ed Taravella with Taracorp, Jim Carney with REDNews and Peggy Rougeou with Tarantino

Women in The Fast Lane of Real Estate

Wednesday, September 29th, The Greater Houston Women's Chamber of Commerce put on a "Business Style (Fashion) Show at the Riverway Omni before a crowd in excess of 500. Beth Wolff with Beth Wolff Realtors and Beth Young with Grubb & Ellis were Co-Chairs and were joined by 24 top real estate producers as models.

Style Show MC's Stephen Skoda with M Penner and Beth Young with Grubb & Ellis

Raquel and Andrew Segal and Lee Girard

Henry and Haley Hagendorf

Dawn Landry and Robert Kramp

Westchase District's 15th Anniversary Party at Rio Ranch

Westchase District's 15th Anniversary Party at Rio Ranch, Thursday September 23rd, 2010

Two founding members of Westchase District: Jim Murphy and Paul McDonald

Attendees at Westchase Anniversary Party

County Proclamation of Westchase Day September 23rd

Ft Bend Society of Real estate Breakfast and O'Connor Office Forecast Luncheon

Ft Bend Society of Real estate Breakfast Tuesday/21


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.

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.

O'Connor Retail Forecast Wednesday August 18th, 2010

Kathy Riggs and Kathleen O'Connor both with O'Connor and Associates and Speaker John McFarlin with Coldwell Banker Commercial United
John McFarlin with Coldwell Banker Commercial United is neither economist nor a retail expert but he gave a great presentation today at the O'Connor Retail Forecast Luncheon. John is an ex football coach who knows how to prepare for the upcoming opposition and in this case it's the retail economy.
Where is Retail going? It's going to the Internet and the brick & mortar will more and more be turning into discount and outlet locations. For example: Macy's is devoting it's entire capital expenditure budget to e commerce. They expect a return of $5.50 for each $1.00 allocated. Target will be expanding 350 of its stores to feature groceries. The major drugstores are doing the same thing. They want to be convenient one-stop-shops.

HEBC July 8th 2010. Houston Mayor Annise Parker

Houston mayor Annise Parker was featured speaker last Thursday at the Houston Realty Business Coalition Breakfast. She mostly reflected on her first 6 months in office but did bring up the subject of increasing property values by accelerating the process of tearing down derelict multi-family properties. The mayor would like that Houston is thought of as the "City that works and you don't have to think about it".

                Mark Sappington with Cobb Fendley & Associates and Houston City Councilman CO Brad Bradford.

Former Houston Police Chief CO Brad Bradford was in attendance. He feels strongly that Houston can be positioned as the #2 city to do business in in the USA. No one can top NYC but neither Los Angeles or Chicago has the advantages of Houston. He feels a strong marketing campaign emphasizing our strong business atmosphere would prove beneficial.

 

Carried Interest

Senate Democrats Don't Expect to Pass Extenders Legislation by Sam Goldfarb




Senate Democrats said June 24 that they don't expect to pass extenders legislation in the near future and will move to a small-business bill after a procedural vote later in the day.



The Senate is expected to vote today on a motion to limit debate on a substitute amendment to H.R. 4213, the American Jobs and Closing Tax Loopholes Act of 2010. At a press conference, Democratic leaders said they do not anticipate that moderate Republicans will support the amendment despite repeated efforts to modify the legislation to resolve differences.



Senate Majority Leader Harry Reid, D-Nev., said that extensions of tax cuts such as the research credit and the state and local sales tax deduction will not be moved to the small-business bill because the tax extenders and small-business provisions are "separate issues." Offsets, such as a tax increase on carried interests, could conceivably be used to pay for other legislation, he said.



Democrats refused to say if there is a plan to address the extenders later in the year. "Until we get a few more votes on this, I don't know what we're supposed to do," said Sen. Patty Murray, D-Wash.



Bradley H. Bailey



Associate Vice President Investments



Director, National Retail Group

Special Assets Group



Marcus & Millichap

8310 N. Capital of Texas Hwy

Suite 150

Austin, TX 78731

License: TX: 0429279

(512) 338-7800 ext. 0167855

(512) 338-7855 direct

(512) 338-7810 fax

(512) 619-6070 mobile

bradley.bailey@marcusmillichap.com