ICOnic News | Spring Branch Land Prices are Soaring! | Apr 2023
SPRING BRANCH LAND PRICES ARE SOARING!
We are pointing our spotlight this month onto the Spring Branch district in Houston, Texas. With over 450 commercial real estate deals transacted in the last three years, the roughly 25 square miles of the Spring Branch micro-market has earned the attention.
Spring Branch has been attractive for commercial real estate investors and developers over the recent years and the price of real estate (both commercial and residential) reflects that. The retail, office and flex growth on Long Point and Gessner along with the residential revitalization have been the main drivers. Residents and employees in the area are enjoying and looking forward to the continued expansion of the Spring Branch Trail and the coming Haden Park Improvements. We of course, can’t forget to tip our hats to the light and heavy industrial scene as a large contributor to the growth as well.
Activity over the recent years has increased drastically even though transactions have cooled a bit in the last 90 days. We are currently working on pockets of Spring Branch where land values are reaching $28.00 pSF. Deals are still mainly off-market and buyers are long term investors or users looking for covered land plays.
All this to say, we have always loved the Spring Branch area (to the point that some of us proudly call it home) and we continue to view it as an attractive spot for our clients to invest, develop, and occupy.
-Seth Green, Land Advisor
ICO GIVES BACK TO SKY HIGH FOR KIDS
On Thursday, March 30, 2023 a few of our ICO team members gave of their time to support Sky High for Kids in a Sporting Clay Tournament fundraiser. The event helped to raise funds and awareness for pediatric cancer. ICO was honored to be a part of this fundraiser and values giving back by supporting local nonprofit organizations.
Sky High is a 501(c)(3) nonprofit organization founded by Louisiana native, Brittany Hebert Franklin. Comprised of a devoted staff, board members, and an army of volunteers, they work tirelessly to support children undergoing treatment for cancer and other life-threatening conditions. Their efforts benefit leading hospitals and research centers by closing the gap in childhood cancer rates globally. The Sky High team is saving kids through advanced medical studies and healing families who are battling cancer through their comfort programs.
