Passport to success

Foreign investors bank on Houston as a hot commercial real estate market

Houston's market can expect more foreign investment.

Coalition for the Homeless of Houston/Facebook

Houston is in the midst of a residential real estate "buying bonanza." Now, a new report reveals that the Bayou City is no slouch when it comes to commercial real estate, as well.

In a recent survey released by AFIRE, an industry group for real estate investors, Houston tied for No. 14 on the list of cities favored by foreign real estate investors. Last year, Houston sat at No. 12.

Elsewhere in Texas, foreign real estate investors favored Austin over any other U.S. city for buying property in 2021. Boston ranked second, with Dallas in third place. San Antonio tied for No. 15.

In this year’s survey, foreign real estate investors chose apartment buildings as their favorite property type, with warehouses landing at No. 2.

Mike McDonald, vice chairman of commercial real estate services company Cushman & Wakefield, recently told The New York Times that Austin is “the hottest market in the country right now.”

“Commercial transactions are likely to pick up in the second half of 2021 and in 2022 as more people get vaccinated, more businesses operate at higher capacity, personal leisure and business travel pick up, and consumer spending rises,” the National Association of Realtors noted in a first-quarter report about Austin’s commercial real estate market.

Speaking of the Capital City, this is the first time in the 30-year history of the AFIRE survey that a city as small population-wise as Austin has topped the list or even showed up in the top three. Twenty-three percent of those questioned in the survey put Austin in the No. 1 spot, and 33 percent ranked Austin first, second, or third.

lists reports

A Montrose jewel box

Charming Montrose townhouse with 2-story atrium hits the market

Photo by Sonya Sofrankpo for Sotheby’s International Realty

1507 Harold Street is on the market for $950,000.

Montrose has long been Houston’s neighborhood for the eclectic, a place where cute bungalows, mom-and-pop shops, and trendy bars and restaurants sit side-by-side. The neighborhood is a microcosm of the city itself: diverse, developing, beloved.

And even as the neighborhood has steadily gentrified, echoes of its past remain. One of those is now for sale. 1507 Harold Street, a remodeled jewel box of a space, is on the market for $950,000 and represented by Tracey Smith of Martha Turner Sotheby’s International Realty.

The 1950s townhome has fabulous natural light, balconies, a courtyard filled with native plants, and a funky charm that evokes the neighborhood’s past and present.

Painted tile floors and long hallways with splendid light set the tone for this home. They give way to an open, airy arrangement, showing off 1507 Harold’s nearly 3,000 square feet. The three-bedroom, two-bath home is immediately centered in its neighborhood, but also a retreat from the bustling city around it.

If the devil is in the details, 1507 Harold has plenty of them. Think painted clay tiles on the first floor and solid red oak hardwood on the second floor. Add to that custom Pedini Italian kitchen cabinets, Neolith countertops, and a Quemere custom backsplash in the kitchen. See also the epoxied garage floor with glass garage door.

Floor-to-ceiling windows not only let in the natural light, they give 1507 Harold the feeling of being surrounded by nature. That feeling is enhanced by the home's two, second-floor balconies. One of them, off the primary bedroom, overlooks the cloistered courtyard filled with native plants, park bench, and natural seating. The other faces the neighborhood. A two-story atrium provides space for meditation, contemplation, and casual gathering.

The dining room has a dry bar that’s perfect for storage and an Aobosi dual-temperature wine refrigerator. The primary bedroom has built-in bookcases and drawers, and an ensuite bath with soaking tub and shower. Sliding doors lead to the balcony.

The garden’s irrigation system waters plants daily, keeping this green space well-tended.South Texas cactus and olive trees welcome homeowners and visitors at the front entrance.

The home's welcoming vibe has to be seen to be believed. It’s rarely been on the market, and the odds are high that its next owners will keep it for a very long time. It’s just that kind of place.

Photo by Sonya Sofrankpo for Sotheby’s International Realty

1507 Harold Street is on the market for $950,000.

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