5 Houstonians to know, the real estate edition
During the summer months, Houston typically slows down. Traffic gets lighter, calls don't get returned as readily and reservations at hot restaurants are easier to come by.
One area that's not slowing down is news in the commercial and residential real estate industries. Good or bad, here's what made headlines recently.
• Bruce Rutherford, international director and global energy practice leader, JLL — If there's one person who's watching the energy industry closely as it pertains to commercial real estate, it's Bruce Rutherford, international director and global energy practice leader at the Houston office of Chicago-based JLL. Rutherfordrecently spoke at the HBJ's Katy/West Houston Power Breakfast, held Aug. 15. When it comes to the glut of sublease space the area is experiencing, Rutherford said it'll get worse before it gets better. The upside to the subleasing trend is that rents are going down and the time is ripe for tenants to jump on some deals in Class A buildings.
• Brandi McDonald, executive managing director, Houston office of Newmark Grubb Knight Frank — Speaking of west Houston, McDonald oversees the marketing of a prime piece of property in west Houston. But things being what they are, a 24.5-acre tract of land at 400 West Sam Houston Parkway that was once held by Dow Chemical Co. has remained untouched. That may be changing, said McDonald. She's received interest from multifamily developers, among others.
• Jon Pickard, principal, Pickard Chilton — While he's not a Houstonian, this East Coast-based architect knows what Houstonians want. Hines' 609 Main is arguably one of the most anticipated towers expected to rise in downtown Houston in recent years. And the architect inside that soon-to-be gleaming tower is Pickard Chilton. Pickard spoke with commercial real estate reporter Cara Smith on some key design elements the building will have once it's completed. Spoiler alert: 609 Main will be very Zen-like among the bustle of downtown.
• Jeff Bulman, Realtor, John Daugherty Realtors — Jeff Bulman, a longtime Houston Realtor and owner of Bulman Real Estate, recently joined John Daugherty Realtors, one of Houston's largest residential real estate brokerages.Bulman will focus on selling high-end properties in the southwest suburbs, particularly League City and Galveston.