Avera CEO Featured as Panelist at BoyarMiller Real Estate Forum
December 15, 2015
H.T. “Trey” Odom III, Founder and CEO of AVERA Companies, recently spoke as a panelist at at the annual BoyarMiller Real Estate Forum. Odom was one of three panelists, each of whom reflected on the past year in real estate and drew on their professional insight to give predictions for the real estate market as we enter 2016.
Odom emphasized that the industrial real estate sector remains extremely healthy, due to the presence of the petrochemical industry in the Houston area, with more than $100 billion in expansion projects under development at chemical plants along the Gulf Coast.The Panama Canal expansion is also a driving force for construction, as the project will allow for larger ships to service the Port of Houston. He predicted a greater demand for industrial space as a result of the increased container ship capacity as a result of the project. The Panama Canal expansion is expected to be completed next year.
Odom mentioned that leasing activity and rental rates will remain constant in 2016, with the year-end momentum continuing on into next year. “With new development pausing, we may even see industrial rental rates go up next year. Overall, it is a pretty bullish environment,” said Odom.
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