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Suburbs Continue to Court Investors, Tenants

Houston’s suburban areas such as the Katy/Cinco Ranch/Waterside submarket will continue to attract investors with absorption rates that outpace new multifamily units and office tenants with easy commutes.

office development Grand West is a six-building office project that will total approximately 850,000 square feet.

HOUSTON—Investors maintain the push into Houston’s suburbs as occupancy rates continue to exceed incoming supply. Submarkets such as Katy/Cinco Ranch/Waterside reflect this trend in the commercial real estate market, with newly built apartments offering high-end amenities and office campuses boasting compelling price points for new construction, GlobeSt.com learns. In addition, the Grand Parkway has injected life into the Katy market.

A couple of recent transactions exemplify these trends. Grand Mason at Waterside Estates, a 229-unit garden-style community located in Richmond, TX, recently sold at an undisclosed price. The seller was Grand Mason Partners Ltd., a partnership sponsored by BC Realty Partners out of Dallas, and the Betz Companies, a commercial real estate firm based in Houston. The buyer is a real estate investment, operation and development company based in Fort Worth.

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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