Globest Sectors

HOUSTON-Marcus & Millichap is predicting another 5% hike in flex office rents by year's end. Investor interest is strong, fueled by a hardy local economy, a brisk energy industry and lower borrowing rates.

SAN ANTONIO-Two industrial companies are on the move in San Antonio. Gerloff has temporarily signed for three-fourths of a spec project while crews complete a facility at its home base. Meanwhile, Klinger has downsized to meet a changing business model.

BREMERTON,WA-Plans to develop a high-tech business park west of Kitsap Lake are moving forward, after legal challenges posed by two citizen groups have been dropped.

TROY, MI-The new development will bring in a 45,000-sf office building and 140 condominiums in an already strong commercial and residential market. A 100,000-sf church also is being built on the 84-acre site.

WAKEFIELD, MA-A group of local activists prevent developers from building on one of the last few remaining parcels of lakefront property here. The group raised over $1.2 million to develop a park on the site instead.

HOUSTON-A Houston investor has taken the title to a 45,000-sf warehouse along S. Interstate 35 in a deal brokered by NAI Partners Commercial and Southwest Realty Advisors. The property had carried a $650,000 asking price.

AUBURN HILLS, MI-In a new twist, the company is moving out of business-friendly Auburn Hills after receiving a $1.7-million tax abatement for 10 years from Southfield. Kirco Development of Troy will build an $11-million facility.

ORANGE COUNTY, CA-As the lack of new construction keeps demand for industrial product high in Orange County, the region's industrial market has remained fairly stable, according to a recently released report by Voit Commercial Brokerage.