HOUSTON REAL ESTATE DOWNTURN: GREAT FOR STRIP CENTERS AND FAST FOOD JOINTS Who’s benefiting from Houston’s not-so-go-go commercial real estate market? “‘Cell phone stores are still doing well, and still want to open up new stores,’ [Riverway Retail retail broker Jake] Baker points out. ‘We’re also seeing companies like Edward Jones looking for, and getting good retail space.’ Edward Jones? Well, yes. ‘When you start to see your bank account shrinking, you want to start being conservative with your money,’ Baker says. ‘This is an ideal place for the Edward Joneses to expand and take a lot of retail space.’ Baker and [Weitzman Group senior VP James] Namken say that another category of tenant expansion is the franchisee. ‘With the economy so poor, people have been laid off, and are interested in starting their own businesses,’ Namken explains. ‘Many of them want to become franchisees. That’s where most of the growth has been recently, and will likely continue to be.’” [Globe St.]
Except that franchises – and Edward Jones the wannabe investment expert, in particular – are NO way to look out for one’s own bottom line.
I assume the article is not talking about strip malls near on Shepherd near Westheimer. Not much moving into all that vacant space.