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Houston Market Becoming One of Nation's Most Wired

HOUSTON-Bandwidth commodities trading and the potential of data storage commodity trading are pushing Houston into the forefront as a high-tech center. And, says one broker, the demand's sure to get even stronger.

By Jennifer Brenner Andrade | Updated on March 20, 2001

HOUSTON-Houston is poised to be one of the nation’s hardiest high-tech centers, a positioning that is predicted to have a dramatic impact on the city’s commercial real estate market. John R. Scoblick, office division director at Cushman & Wakefield of Texas Inc., tells GlobeSt.com that a full-blooming tech and telecom-related facilities could spark a 3% to 5% growth in the industrial market over the next five years. According to Cushman & Wakefield statistics, the existing industrial market has 250,868,104 sf in 4,545 buildings. But that’s growing as Houston undergoes a wave of telecom hotel conversions, taking retail malls, power centers, department stores, cold storage facilities and warehouse space and transforming them into highly sought space. The trend is further supported by new telecom space construction and increased office rentals for high-tech companies, he says.

Scoblick says more than 35,000 sf of leases are pending for high-tech clients of Cushman and Wakefield within Houston limits. FimLogic, Agilent and Halo Industries are just a few of the C&W clients awaiting space. There also is the opening of Insignia’s Houston Telecom Exchange, Metro Nexus telecom hotel and the coming of Infomart’s telecommunications campus space as further evidence of the city’s impending technical evolution.

In part, the demand is fueled by bandwidth commodity trading and the upcoming potential of data storage commodity trading industries, Scoblick says of Houston’s technical transformation. Companies like Enron, Dynegy, Koch, El Paso Energy, Reliant Energy and Duke Energy make up just a fraction of the robust commodities trading industry.

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