Houston Market Insight's From Neal Bawa and Anna Myers

[Steve Chan]

Hi everyone, I listened to Grocapitus' presentation on their new development project in Houston last week and had some interesting takeaways about the Houston market. I thought I’d share them with you since I’m based out of Houston. Here are my takeaways directly from their presentation:

• -US best cities for millennials
• -Most diverse city in the US
• -Best seaport in North America
• -#2 top metro for job growth
• -#1 best hospital for cancer
• -22 fortune 500 companies, 2nd to NY
• -3.1% unemployment
• -6 out of every 10 jobs in Texas will be added in Houston through the year 2040
• -Growing 4x’s faster than the US population
• -2nd fastest growing economy in America
• -The Texas Medical Center is the largest medical center in the world
  • -21 hospitals
  • -8 academic and research institution
  • -21,000 physicians, scientists, and researchers
  • -110,000 employees
  • -170,000 operations annually
  • -Upcoming $1.5B expansion that broke ground in 2019 and is expected to be completed in 20222
  • -New campus is expected to have a $5.2B impact on Houston and create projected 30K new jobs
• -University of Houston
  • -$1B planned expansion over the next 3 years
  • -Located extremely close to the medical center and downtown
  • -New $100M college of medicine scheduled to break ground in Spring 2020

Basically, Houston is not all about oil and gas!!! My wife and I are both examples of this as I manage a medical device sales team and my wife is a registered RN.

Hope you found these notes about Houston’s future as encouraging as I did, especially in light of the pandemic that we are all trying to currently navigate.

Happy Monday!

-Steve

[Adam E.]

Houston is BOOMING! I got to watch the replay of the webinar and I'm so glad I did because their new Groplex product looks like an absolutely amazing way to hedge against risk on the exit of the project. So excited to see more from them