UNLOCK THE POWER OF THE VAULT

Houston, Oklahoma City Office Markets Feel the Fallout from Oil Price Declines

September 20, 2016

Houston, Oklahoma City Office Markets Feel the Fallout from Oil Price Declines

September 16, 2016 | by Diana Bell | National Real Estate Investor

Over the course of the past year, as oil prices hovered near the $30.00 per barrel mark, cities that rely on the energy sector for their economies, including Houston, Dallas, Denver and Tulsa and Oklahoma City, Okla., experienced office vacancies that spiked to double digits. As oil prices continue to fluctuate, some of these markets are slowly recovering, buoyed by growth in other industries. Others, however, face choppier conditions in the short to medium term.

In Texas, Houston’s office sector is facing the biggest challenge due to low energy prices, says Doug Little, senior managing director at Houston-based real estate brokerage firm Transwestern.

“Austin, Dallas and San Antonio have been negligibly affected,” he notes. “Austin is doing very well and San Antonio, surprisingly, has been resilient.”

Article Located Here

Go Back
Thomas E. Burns, III
July 29, 2015
February 22, 2016

I subscribe to Blue Vault to keep up with the sponsors and their wholesalers! The analysis keeps me up to date with the various portfolios and the way they are managed, including the differences between them.