Houston

Self storage has proven to be a defensive asset class in that there is still a good deal of demand for quality self-storage product and capital is available to well-located institutional-quality projects.

The acquisition includes three multifamily properties in the Houston metro area totaling 1,392 units; two properties in Tampa, FL totaling 1,231 units and a 253-unit property in Salt Lake City, UT.

Conceived as a new landmark, 841 Yale provides a nod to the turn-of-the-century origins of The Heights with craftsmen masonry and brick patterns plus arched metal windows in its first two stories.

Speculative development is much less prevalent today than in past boom times–with many of Dallas/Fort Worth's large office and industrial projects significantly leased up prior to construction.

The submarket stands in stark contrast to the broader Houston office market and is healthier in comparison; where it's on track to record a fourth consecutive year of positive net absorption.

In an example of office-occupying activity, a long-term lease was recently inked by Waste Management Inc., which is to occupy nine floors at Capitol Tower consisting of approximately 284,000 square feet.

The Development of Distinction Awards recognizes developments and open spaces that demonstrate best practices in design, construction, economic viability, healthy places, marketing and management.

More total joint and spine procedures, along with MRIs and CT scans have moved to outpatient settings, and continued M&A activity within the outpatient surgery setting is impacting the industry.