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Wu Family Trust bags Northbrook Shopping Center Wu Family Trust bags Northbrook Shopping Center https://www.recenter.tamu.edu/news/newstalk-texas/?Item=231192019-09-18T05:00:00Z2019-09-21T02:00:00Z

​​​​HOUSTON – Locally based Wu Family Trust has purchased the Northbrook Shopping Center, a 174,181-sf retail center at 5264 W. 34th St. 

The retail center is 96.6 percent occupied. El Rancho Supermarket opened in 2017 as the anchor tenant.  

CBRE National Retail Partners represented the seller, Weingarten Realty, in the transaction.

Texas logoGet more Houston-area news on the Real Estate Center's website:

​Source: CBRE​

CBRE
Houston-The Woodlands-Sugar Land
Retail
Source: {Source}
DFW fifth-largest flexible office space market in U.S.DFW fifth-largest flexible office space market in U.S.https://www.recenter.tamu.edu/news/newstalk-texas/?Item=231232019-09-18T05:00:00Z2019-09-21T00:00:00Z

​​​​DALLAS – DFW is the fifth-largest flexible office space market in the U.S. after significant expansion since 2017, according to a new CBRE report.

The market's flexible-space inventory grew from 1.8 million sf at the end of 2017 to 3.4 million sf at the end of 2Q2019.

The flexible space market now accounts for 1.5 percent of DFW's total office inventory, up from 1.2 percent a year ago.

Still, that ratio comes in below the U.S. average of 1.8 percent, indicating there is room for the sector to grow.

Flexible space in the Far North submarket accounts for 31.3 percent of the market's flexible space inventory, but since the beginning of 2019, 28 new locations have opened or are scheduled to open in eight different submarkets across DFW.​​

Texas logoThe Real Estate Center has more Dallas-area office news online:

​Source: CBRE​
CBRE
Dallas-Fort Worth-Arlington
Office
Read more at {Source}
Broad Ocean Motors turns over 480K-sf warehouse Broad Ocean Motors turns over 480K-sf warehouse https://www.recenter.tamu.edu/news/newstalk-texas/?Item=231112019-09-19T05:00:00Z2019-09-20T22:00:00Z

​​​​HOCKLEY – Sealy & Co. has purchased a 479,806-sf warehouse at 18140 Kickapoo Rd. 

The Class A property near the intersection of US 290 and the Grand Pkwy. will serve as a distribution center for the company. 

The seller, Broad Ocean Motors, will remain in the building as a tenant. 

CBRE represented the buyer.​

Texas logoThe Real Estate Center has more on the Houston-area industrial market:

Houston Business Journal
Houston-The Woodlands-Sugar Land
Industrial
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234-unit senior living community underway in Burleson234-unit senior living community underway in Burlesonhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=231212019-09-18T05:00:00Z2019-09-20T22:00:00Z

​​BURLESON – Abby Development has broken ground on Wilshire Senior Living, a 234-unit seniors housing development on Greenridge Dr.

The 25-acre resort-style campus will offer independent-living apartments and townhome-style cottages as well as assisted-living and memory-care suites.

Amenities include an indoor swimming pool, movie theaters, beauty salons, pharmacy and general store, libraries, and a fitness center.

Abby GC will be the general contractor, and Abby Senior Living will manage the community.

Wilshire will open by summer 2021.

TexasThe Real Estate Center has more Dallas-area senior living news.

Source: Austin Business Jou​​rnal​​​​

Abby Development & Construction
Dallas-Fort Worth-Arlington
Senior Living
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Micro-apartments coming to downtown AustinMicro-apartments coming to downtown Austinhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=231222019-09-18T05:00:00Z2019-09-20T22:00:00Z

​​​147 micro-unit apartment coming to AustinAUSTIN – Transwestern Development Co. is developing a 147 micro-unit apartment complex at 847 W. 12th St.

The studio, one-, and two-bedroom units will average 444 sf and include luxury finishes.​

Amenities will include a pool, courtyard, fitness center, and laundry facilities.

Construction will begin in the second half of 2020.

Wilder Belshaw Architects designed the apartment building. 

TexasLooking ​for more Austin-Round Rock​​​ multifamily news? The Real Estate Center's got you covered. 

Source: Austin Busine​ss Jou​rnal​​​​​

Austin Business Journal
Austin-Round Rock
Multifamily
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Amazon's Austin expansion to bring in 600 tech jobs Amazon's Austin expansion to bring in 600 tech jobs https://www.recenter.tamu.edu/news/newstalk-texas/?Item=231272019-09-19T05:00:00Z2019-09-20T19:00:00Z

AUSTIN – Amazon has leased an additional​​ 100,000 sf of space in Domain 10, a 15-story tower being built at the North Austin mixed-use development.

This expansion will add more than 600 tech-focused jobs.

In March, Amazon leased 145,000 sf in the building and added 800 tech jobs.

Amazon also occupies 171,000 sf in Domain 8 and 76,000 sf in Domain 7. ​

Statesman
Austin-Round Rock
Office
https://www.statesman.com/news/20190919/amazon-expanding-austin-presence-with-600-new-tech-jobsRead more at {Source}
Austin top 2020 real estate prospectAustin top 2020 real estate prospecthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=231252019-09-19T05:00:00Z2019-09-20T17:00:00Z

​​​WASHINGTON – ​​Austin has ranked first nation​ally for overall real estate prospects for 2020 in the Urban Land Institute's (ULI) Emerging Trends in Real Estate ​report.​

The Texas capital's "deep talent pool, unique lifestyle, and ambitious commitment to business and real estate expansion" pushed the city up from sixth place a year ago.

According to ULI, transaction activity in Austin is above what is expected from a market of its size, and 2019’s early results are above the three-year historical average. Survey respondents rate Austin a "solid buy" for industrial, offices, and apartments for the coming year.​​

Austin's challenges include traffic and housing affordability pressures.

Austin ranked sixth overall in homebuilding prospects​.

​Dallas-Fort Worth also landed in the top ten, ranking sixth in overall real estate prospects and ninth in homebuilding prospects.

The Metroplex's development growth to the outer perimeter keeps land costs down but challenges efforts to develop the downtown areas​ as 24-hour or even 18-hour urban centers. 

Texas' property tax may face upward pressure to sustain infrastructure growth. 

​Houston ranked third in homebuilding prospects. It was 42nd in overall real estate prospects.

The rest of ULI's top ten real estate prospects are:

  • ​No. 2 Raleigh-Durham, N.C.;

  • No. 3 Nashville, Tenn.;

  • No. 4 Charlotte, N.C.;

  • No. 5 Boston;

  • No. 7 Orlando, Fla.;

  • No. 8 Atlanta;

  • No. 9 Los Angeles; and

  • No. 10 Seattle.

Urban Land Institute
Austin-Round Rock
Housing
Read more at {Source}
The Maddox swings open in Katy The Maddox swings open in Katy https://www.recenter.tamu.edu/news/newstalk-texas/?Item=231152019-09-18T05:00:00Z2019-09-20T02:00:00Z

​​​KATY – LMC has opened The Maddox, a 326-unit apartment community at 1330 Park West Green Dr. 

Floor plans consist of one-, two-, and three-bedroom units with luxury finishes.

Amenities include a pool, fitness center, outdoor grilling and gaming area, community lounge, beer garden, and dog park.

Texas logoThe Real Estate Center has more Houston-The Woodlands-Sugar Land multifamily news​.

​Source: REBusiness Online​
REBUSINESS
Houston-The Woodlands-Sugar Land
Multifamily
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H-E-B plans two West Houston projects H-E-B plans two West Houston projects https://www.recenter.tamu.edu/news/newstalk-texas/?Item=231122019-09-18T05:00:00Z2019-09-20T00:00:00Z

​​​​HOUSTON – H-E-B Grocery Co. has received multimillion-dollar building permits for two west side projects.

The first permit was issued to Griffco Design Build for a $12.5 million distribution center at 4625 Windfern Rd. The permit also clears way for the construction of a 99,831-sf, hi-pile warehouse and/or remodel.

The second permit is for a $3.5 million remodel and HVAC upgrade for H-E-B’s store at 11815 Westheimer Rd.

The projects are a part of the company’s plan to revamp its brick-and-mortar presence.

Texas logoLooking for more information on Houston's retail market? The Real Estate Center has got you covered:

Houston Business Journal
Houston-The Woodlands-Sugar Land
Retail
Read more at the {Source}
Houston water treatment plant undergoing $1.7B expansion Houston water treatment plant undergoing $1.7B expansion https://www.recenter.tamu.edu/news/newstalk-texas/?Item=231132019-09-18T05:00:00Z2019-09-19T22:00:00Z

​​HOUSTON – The Houston Waterworks Team has started construction on the largest design-build project for a water treatment plant currently underway in the country. 

The $1.7 billion expansion project of the Northeast Water Purification Plant aims to shift the population’s reliance from groundwater to surface water. 

McCarthy Building Cos. has been hired to construct a 3​​0,000-sf raw water intake pump station and a central plant, which will​ be fully operational by early 2025. 

Texas logoLooking for more stories like this? The Real Estate Center has more Houston-area infrastructure news.

REBUSINESS
Houston-The Woodlands-Sugar Land
Industrial
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Aisin AW greenlights $400M Cibolo projectAisin AW greenlights $400M Cibolo projecthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=231172019-09-18T05:00:00Z2019-09-19T21:00:00Z

​​CIBOLO – Japan-based Aisin AW Inc., a supplier of drivetrain products to Toyota, has greenlighted a $400 million project to complement Toyota Motor Corp.'s newly announced $391 million San Antonio expansion.

The city agreed to make 160 acres in its reinvestment zone available to Aisin AW for the facility, which will generate 900 full-time jobs.

The city and Guadalupe County offered the company a tax abatement agreement in return for the investment.

The San Antonio Economic Development Foundation projects that the total economic impact from the two investments will surpass $10 billion and 40,000 jobs over the next ten years. 

Texas logoThe Real Estate Center has more on the San Antonio-area industrial market:

San Antonio Business Journal
San Antonio-New Braunfels
Industrial
Read more at {Source}
Toyota moving forward with $391M investment Toyota moving forward with $391M investment https://www.recenter.tamu.edu/news/newstalk-texas/?Item=231162019-09-18T05:00:00Z2019-09-19T21:00:00Z

​​​​Toyota is investing $391M in its Toyota Motor Manufacturing Texas Inc. production plant.SAN ANTONIO – Toyota Motor Corp. is investing $391 million in its Toyota Motor Manufacturing Texas Inc. production plant on the city's south side.

The investment will result in a new vehicle-model production line for the plant, which currently produces Tundra and Tacoma pickup trucks.

This is the facility's first major expansion in nine years.​

The plant employs about 3,200 people. 

Aisin AW Inc., a supplier of drivetrain​ products to Toyota, has announced a $400 million project in Cibolo​ to complement the expansion.

Texas logoThe Real Estate Center has more on the San Antonio-area industrial market:

San Antonio Business Journal
San Antonio-New Braunfels
Industrial
Read more at {Source}
$30.7M loan received for Alamo Ranch land$30.7M loan received for Alamo Ranch landhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=231182019-09-18T05:00:00Z2019-09-19T21:00:00Z

​​​​

$30.7M loan received for 22 acres on the south side of Alamo Ranch ParkwaySAN ANTONIO – Locally based Fulton Property Group LLC has acquired 22 acres along Alamo Ranch Pkwy.

Citizens Bank provided the $​30.7 million loan for the buyer.

The land is part of a 56-acre tract in the Alamo Ranch neighborhood.

texaslogo.pngIf  you're looking for more San Antoni​o land​ news like this​, head to the Real Estate Center's website.
Connect Media
San Antonio-New Braunfels
Land
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Mixed-income apartment prepares for openingMixed-income apartment prepares for openinghttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=231142019-09-18T05:00:00Z2019-09-19T20:00:00Z

​​​​Red Berry Estate apartment gets ready to welcome residentsSAN ANTONIO – Salado at Red Berry, a 330-unit complex at 902 Gembler Rd., is preparing for residents to move in on Nov. 15.

Monthly rents for one- to three-bedroom units range from $900 to $1,605.

Half of the units will be reserved for residents making 80 percent or less of the area median income.

Amenities include a pool, fitness center, outdoor picnic and grilling stations, and two dog parks.

The complex is part of the redevelopment of the East Side's 84-acre Red Berry Estate.

It will be complete in spring 2020.

Texas logoGet more San Antonio multifamily news on the Real Estate Center's website.

San Antonio Business Journal
San Antonio-New Braunfels
Multifamily
Read more at {Source}
Longview RV park becoming affordable housing community Longview RV park becoming affordable housing community https://www.recenter.tamu.edu/news/newstalk-texas/?Item=231242019-09-19T05:00:00Z2019-09-19T16:00:00Z

​​​LONGVIEW – Pine Ridge AHC LLC has purchased an RV park at 1060 I-20 W. Access Rd. with plans to turn it into an affordable housing community. ​​​

The 50-acre Pine Ridge RV Park is currently home to 38 RV lots, one single-family home, and 43 undeveloped acres​. ​

Over the next two years, the property, renamed Pine Ridge AHC (Affordable Housing Community)​, will be redeveloped to house a mix of mobile homes, tiny houses, and cabins. 

Homes will be priced between $20,000 and $35,000. The developer will provide financing for homebuyers.

SLS Rehab Pros has already started on renovations, which include adding signage, lighting, a laundry facility, park and picnic area, road work, mailboxes, and energy conservation measures.​​ Work will wrap up within a year. 

David Cleveland of Richmond sold the property for $385,000. TCNC Capital brokered the deal.​

Texas logoLike this story? The Real Estate Center has more:

​Source: Pine Ridge AHC
Pine Ridge AHC
Longview
Housing
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Grocery-anchored retail center sold for $71MGrocery-anchored retail center sold for $71Mhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=231042019-09-16T05:00:00Z2019-09-19T01:00:00Z

​​​FRISCO – InvenTrust Properties Corp. has purchased Eldorado Marketplace, a 186,068-sf grocery-anchored retail center, for about $71 million.

Located at the northwest corner of the Dallas North Tollway and Eldorado Pkwy., the center includes tenants such as AT&T, Jersey Mike's, Re/Max, PetSmart, and UPS.

Texas logoLooking for more information on the North Texas retail market? The Real Estate Center has got you covered:

Dallas Business Journal
Dallas-Fort Worth-Arlington
Retail
Read more at the {Source}
Construction wraps up on Richardson multifamilyConstruction wraps up on Richardson multifamilyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=231082019-09-17T05:00:00Z2019-09-19T01:00:00Z

​​​​RICHARDSON – Work is finishing up on Society 190, a 415-unit multifamily community off President George Bush Turnpike.

The property will feature one-, two-, and three-bedroom units ranging from 680 to 1,450 sf. Rents start at $1,275 per month. 

Amenities​ include a pool, fitness center, game room, outdoor kitchen, and coworking office space.

Leon Capital Group has started leasing out units​.

TexasThe Real Estate Center has more Dallas-Fort Worth-Arlington multifamily news online.

Source: REBusiness Online​

REBUSINESS
Dallas-Fort Worth-Arlington
Multifamily
Read more at {Source}
172-unit Northwest Dallas multifamily under new ownership172-unit Northwest Dallas multifamily under new ownershiphttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=231102019-09-17T05:00:00Z2019-09-19T00:00:00Z

​​​DALLAS – Royal Lane, a 172-unit multifamily community at 2528 Royal Ln., has been sold.

Built in 1966, the property offers one-, two-, and three-bedroom units averaging 807 sf. 

It has a​ playground and onsite laundry facilities.

Greysteel represented the seller and procured the buyer. 

TexasThe Real Estate Center has more Dallas-Fort Worth-Arlington multifamily news online.

​Source: REBusiness Online​​

REBUSINESS
Dallas-Fort Worth-Arlington
Multifamily
Read more at {Source}
Northside Lexus wraps up 149K-sf Spring locationNorthside Lexus wraps up 149K-sf Spring locationhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=231052019-09-16T05:00:00Z2019-09-18T23:00:00Z

​​​SPRING – Luxury car dealership Northside Lexus has moved into its new 149,000-sf facility at 24222 N. I-45.

The 23-acre dealership at the Cathedral Lakes mixed-use development contains sales and service departments, a collision center, and new and pre-owned vehicles.

The move comes after more than 20 years of operation at its former Houston space, which closed earlier this month.

Texas logoGet more Houston-area news on the Real Estate Center's website:

​Source: ​Community Impact Newspaper​

Community Impact Newspaper
Houston-The Woodlands-Sugar Land
Retail
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98K-sf Richardson office property sold98K-sf Richardson office property soldhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=231072019-09-17T05:00:00Z2019-09-18T23:00:00Z

RICHARDSON – Corporate Place Of Richardson, a 98,180-sf office property, is under new ownership.

The property at 1101 E. Arapaho Rd. is close to US 75 

Marcus & Millichap marketed the property on behalf of the seller, an individual/personal trust, and procured the local buyer.

Texas logoThe Real Estate Center has more Dallas-area office news online:

​Source: Marcus & Millichap
Marcus & Millichap
Dallas-Fort Worth-Arlington
Office
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