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Boom Times Have Another Side

HOUSTON-Though the region is on fire from a commercial real estate perspective, RealShare Houston experts cautioned on April 30 caution that growth shouldn't be viewed through rose-colored lenses.

By Amy Wolff Sorter | Updated on May 01, 2013

HOUSTON-There is little doubt that things are looking up for Oil City — as Houston is sometimes known — and its suburbs. Energy continues driving the local economy, as are the biotech industry (thanks to the Medical District) and changing logistics trends (thanks to the Port of Houston and the anticipated Panama Canal widening). With help from these trends, which are leading to jobs creation and a growing population, commercial real estate is also on fire.

The region certainly deserves the good things it’s getting, especially after the beating it’s taken since the 1980s. This was one of the topics discussed frequently during the April 30 RealShare Houston Conference, which took place at the Petroleum club. “Houston has real job growth,” observed David Hudson, senior vice president-Houston with Duke Realty during the conference’s “Development in Houston” segment. Tom Melody, Jones Lang LaSalle’s executive managing director concurred – during the “Town Hall Power Panel,” he pointed out that “Houston isn’t competing against other cities as much as it’s positioned as a gateway city.”

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