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Houston apartments become new landmark Houston apartments become new landmark https://www.recenter.tamu.edu/news/newstalk-texas/?Item=221512019-03-19T05:00:00Z2019-03-21T00:00:00Z

​​​HOUSTON – American Landmark has acquired Haven at Lakes of 610, a 282-unit multifamily community at 8900 Lakes at 610 Dr.

Built in 2018, the property, which will be rebranded as Aspire at 610, offers one- and two-bedroom units.

Amenities include a pool, resident clubhouse, business center, dog-washing station, fire pits, and a package locker system. They're part of a $1.4 million improvement program. 

The seller was a joint venture between Guefen Development and The Rainier Cos. The community will be rebranded as Aspire at 610.

REBUSINESS
Houston-The Woodlands-Sugar Land
Multifamily
https://rebusinessonline.com/american-landmark-acquires-newly-built-apartment-community-in-houston/

​See also: Houston-The Woodlands-Sugar Land Multifamily Market Research.

Read more at {Source}
Gensler relocating with 45K-sf downtown lease Gensler relocating with 45K-sf downtown lease https://www.recenter.tamu.edu/news/newstalk-texas/?Item=221532019-03-20T05:00:00Z2019-03-21T00:00:00Z

​​​HOUSTON – Gensler has signed a two-floor lease totaling 45,000 sf at 2 Houston Center, where it plans to relocate in late 2019.

A 4.2 million-sf redevelopment project on the Class A property at 909 Fannin St. will finish in late 2020.

Cushman & Wakefield and CBRE represented Gensler. Transwestern and Brookfield Properties worked on behalf of the owner.
Commercial Property Executive
Houston-The Woodlands-Sugar Land
Office
https://www.cpexecutive.com/post/global-architecture-firm-signs-lease-for-2-floors-at-2-houston-center/

Check out Houston-The Woodlands-Sugar Land Office Market Research.

Read more at the {Source}
Lights are on in Dallas' Luminary BuildingLights are on in Dallas' Luminary Buildinghttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=221542019-03-20T05:00:00Z2019-03-21T00:00:00Z

​​​A rendering of the Luminary Building in Downtown DallasDALLAS – The seven-floor, 105,000-sf Luminary Building on Houston St. in downtown’s West End district will soon open its doors.

Crescent Real Estate and Long Wharf Capital LLC started on the project in late 2017.

Corgan, which designed the building, will take about 20,000 sf in the project, which is adjacent to its longtime offices in Dallas.​

Dallas Morning News
Dallas-Fort Worth-Arlington
Office
https://www.dallasnews.com/business/real-estate/2019/03/15/downtown-dallas-newest-office-address-west-end-almost-ready-tenants

​Check out ​more Dallas-Fort Worth-Arlington Office Market Research.

Read more at the {Source}
Life Time Work to CityCentreLife Time Work to CityCentrehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=221562019-03-20T05:00:00Z2019-03-21T00:00:00Z

HOUSTON – Life Time will open its first Life Time Work location in Texas in mid-May at CityCentre.

The coworker company will occupy a full 25,000 sf overlooking the Life Time health club in CityCentre Five at 825 Town & Country Way.

The space will have multiple water stations and desks that easily move from sitting to standing.

Houston Chronicle
Houston-The Woodlands-Sugar Land
Office
https://www.chron.com/business/real-estate/article/Life-Time-Work-to-open-in-May-at-CityCentre-13697515.php

​Check out Houston-The Woodlands-Sugar Land Office Market Research.

Read more at the {Source}
Eagle acquires 750 multifamily nestsEagle acquires 750 multifamily nestshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=221572019-03-20T05:00:00Z2019-03-21T00:00:00Z

​​HOUSTON – Miami-based Eagle Property Capital has acquired three local multifamily assets totaling 750 units. 

The properties include the:

  • 312-unit Landmark at Barker Cypress at 2931 Barker Cypress Rd.;
  • 246-unit Champions Park Apartments at 13050 Champions Park Dr.; and 
  • 192-unit Champions Centre Apartments at 13222 Champions Centre Dr.
Berkadia arranged acquisition financing for the buyer.
REBUSINESS
Houston-The Woodlands-Sugar Land
Multifamily
https://rebusinessonline.com/eagle-property-capital-acquires-three-houston-multifamily-assets-totaling-750-units/

​Check out Houston-The Woodlands-Sugar Land Multifamily Market Research.

Read more at {Source}
Dallas, Houston face pressures against home buyingDallas, Houston face pressures against home buyinghttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=221592019-03-20T05:00:00Z2019-03-20T23:50:00Z

​BOCA RATON, Fla. – Dallas and Houston were the among top U.S. housing markets experiencing significant pressure discouraging homeownership,

According to the BH&J Index by Flo​​rida Atlantic University and Florida International University, 19 of the 23 markets studied are experiencing downward pressure on the demand for homeownership.

Dallas and Houston scored .98 and .72, respectively. Denver is also among the top metros, scoring a .81. 

BH&J Index scores approaching “1” indicate significant downward pressure on the demand for homeownership. Scores hovering around “0” indicate neutral pressure, while scores approaching “-1” imply strong upward pressure on the demand for homeownership.​

Florida Atlantic University
Dallas-Fort Worth-Arlington
Housing
https://business.fau.edu/departments/finance/real-estate-initiative/bhj-buy-vs-rent-index/bhj-summary/

Read the Dallas Morning News' reporting​ on this here.

Check out more DFW Housing Market Research​.

Source: {Source}
SRS Distribution building 100K-sf McKinney campusSRS Distribution building 100K-sf McKinney campushttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=221582019-03-20T05:00:00Z2019-03-20T23:40:00Z

​​A rendering of the Office project.McKINNEY – Locally-based SRS Distribution Inc. is building a 100,000-sf corporate campus on 4.2 acres at the northwest corner of Sam Rayburn Tollway and Alma Rd.

Construction on the corporate campus within the Hub 121 entertainment district will begin this spring.

KDC is the developer. Gensler designed the build-to-suit project. ​

According to an incentives agreement with the city, SRS plans to create 150 jobs over the next ten years. 
Dallas Business Journal
Dallas-Fort Worth-Arlington
Office
https://www.bizjournals.com/dallas/news/2019/03/18/srs-distribution-corporate-campus-mckinney.htmlRead more at the {Source}
Downtown Longview building changes handsDowntown Longview building changes handshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=221552019-03-20T05:00:00Z2019-03-20T23:00:00Z

​​LONGVIEW – Tenaci Commercial LLC has purchased the vacant Summit II building in downtown from 210 E. Methvin St. LLC.

The two-story, 14,886-sf building at 210 E. Methvin St. is the former home of the ​​Summit Club event venue.
Longview News-Journal
Longview
Office
https://www.news-journal.com/news/business/business_beat/business-beat-summit-ii-building-in-downtown-longview-changes-hands/article_8f449c06-46bc-11e9-b8b5-1bb1d53420f4.htmlRead more at {Source}
UH hotel to undergo $30.4M expansion UH hotel to undergo $30.4M expansion https://www.recenter.tamu.edu/news/newstalk-texas/?Item=221502019-03-19T05:00:00Z2019-03-20T01:00:00Z

Rendering of the expansion project.HOUSTON – The University of Houston’s on-campus hotel is set to undergo a $30.4 million expansion.

The project will add a five-story tower with 71 new guest rooms as well as revamp the hotel’s current rooms, courtyard, lobby, and public spaces.  

Preliminary design plans would remove six second-floor suites to create executive meeting space.

Revenue bonds and additional funds generated by the hotel will pay for the hotel’s expansion. 

Construction begins within 18 months, with projected completion in late 2022 or early 2023.

The Conrad N. Hilton College of Hotel and Restaurant Management is a “teaching hotel” where Hilton College hospitality students work and take classes.
Houston Business Journal
Houston-The Woodlands-Sugar Land
Hotel
https://www.bizjournals.com/houston/news/2019/03/18/university-of-houston-hilton-hotel-to-get-30-4m.htmlRead more at the {Source}
Sound the alarm: fire stations start in GeorgetownSound the alarm: fire stations start in Georgetownhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=221462019-03-18T05:00:00Z2019-03-19T23:00:00Z

​​​Georgetown Fire Station No. 7.​GEORGETOWN – Work has started on two fire stations that city council approved construction contracts of in February. 

Fire Station No. 6 at 6700 Williams Dr. will cost $4.6 million. It will have three firetruck bays and living accommodations for six firefighters and medics. 

Fire Station No. 7 at 2711 E. University Ave. will cost $5.3 million. It will have three truck bays and accommodate 13 firefighters and medics.

​O’Harver Contractors is the general contractor.

Construction of both stations will finish in March 2020.

Community Impact Newspaper
Austin-Round Rock
Public Facilities
https://communityimpact.com/austin/georgetown/public-safety/2019/03/08/two-new-fire-stations-break-ground-in-georgetown/Read more at the {Source}
Lubbock still a seller's marketLubbock still a seller's markethttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=221492019-03-18T05:00:00Z2019-03-19T23:00:00Z

​​​​​​LUBBOCK – Local home sales slowed but the median price increased in February, according to data from the Real Estate Center and the Lubbock Association of Realtors.

Home sales were down 5 percent from February 2018 with 280 homes sold. The median price increased 13 percent to $182,500.

The number of active listings grew 7 percent over the year at 1,024 listings.

Monthly housing inventory decreased from 2.9 months to 2.7 months in the same period. The Center considers a six- to 6.5-month inventory a balanced market.

Homes spent an average of 87 days on the market. ​

For more on the Lubbock housing market, read the Center's latest housing report​.​

Lubbock Avalanche-Journal
Lubbock
Housing
https://www.lubbockonline.com/news/20190315/presidents-column-february-2019-lubbock-area-housing-reportSource: {Source}
Copra Holdings hooks Bear Branch Boat & RV Storage Copra Holdings hooks Bear Branch Boat & RV Storage https://www.recenter.tamu.edu/news/newstalk-texas/?Item=221472019-03-19T05:00:00Z2019-03-19T22:00:00Z

​​​​MAGNOLIA – Copra Holdings LLC has acquired Bear Branch Boat & RV Storage on 6.1 acres at 33110 Egypt Ln. 

The Class A facility has 256 boat and RV units totaling 96,810 net rentable sf. The facility was 98 percent occupied at the time of closing.

Bellomy & Co. represented the buyer. CSD Realty represented the seller.
Bellomy & Co.
Houston-The Woodlands-Sugar Land
Retail

​Check out Houston-The Woodlands-Sugar Land Retail Market Research.

Source: {Source}
Four million sf of industrial underway in southeast HoustonFour million sf of industrial underway in southeast Houstonhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=221482019-03-19T05:00:00Z2019-03-19T22:00:00Z

​​​​HOUSTON – The Southeast submarket has four million sf of industrial space underway, one-third of the total industrial construction in the metro.

The submarket recently experienced a more than $50 billion petrochemical expansion that​​​ is positively affecting demand for industrial supply, particularly for plastics and logistics.

The largest projects under construction include:

  • the 784,000-sf Phase III at Bay Area Business Park; 

  • the 520,000-sf PBP at 5055 E. Grand Pkwy. S.

Port of Houston facilities set a record for total tonnage at 35.7 million tons, which reflected an increase of 9 percent from 2017. It remains a leading port in the U.S., and development activity is expected to continue at an accelerated pace for the foreseeable future.

NAI Partners
Houston-The Woodlands-Sugar Land
Industrial
https://www.naipartners.com/research/houston-industrial-southeast-q4-2018-submarket-spotlight/

​Check out Houston-The Woodlands-Sugar Land Industrial Market Research.

See the full report at {Source}
29th Street Capital picks up 438 Houston units29th Street Capital picks up 438 Houston unitshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=221452019-03-19T05:00:00Z2019-03-19T21:00:00Z

​​​​​​HOUSTON – 29th Street Capital has acquired the 438-unit Limestone Apartments at 14723 W. Oaks Plaza St.

Built in 1999,​ the property is near the Shell Technology Center five miles south of the Energy Corridor. 

The new owner will upgrade unit interiors, landscaping, signage, and amenities. 

The Lynd Co. was the seller, according to Yardi Matrix.​

Multi-Housing News
Houston-The Woodlands-Sugar Land
Multifamily
https://www.multihousingnews.com/post/29th-street-capital-expands-houston-portfolio/

​Check out Houston-The Woodlands-Sugar Land Multifamily Market Research.

Read more at the {Source}
JLL acquiring HFF for $2BJLL acquiring HFF for $2Bhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=221522019-03-19T05:00:00Z2019-03-19T15:00:00Z

​​​CHICAGO – Jones Lang​​ LaSalle Inc. (JLL) will acquire all the outstanding shares of Holliday Fenoglio Fowler (HFF) for $2 billion.

Both firms have a significant presence across Texas and are major forces in capital markets and office, land, retail, and industrial brokerage.​​​

Since 1998, HFF has closed more than $800 billion in over 27,000 transactions, achieving record revenue in 2018 of more than $650 million. 

HFF shareholders will receive $24.63 in cash and 0.1505 JLL shares for each HFF share.​
Realty News Report
U.S.
Economy
http://realtynewsreport.com/2019/03/19/jll-to-acquire-hff-for-2-billion/Read more at {Source}
PenFed credits San Antonio for new service centerPenFed credits San Antonio for new service centerhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=221432019-03-18T05:00:00Z2019-03-19T00:30:00Z

​​​​​PenFed's new campus in San Antonio.​​​​SAN ANTONIO – PenFed Credit Union is purchasing two contiguous sites at 19500 Bulverde Rd. for a new financial service center.​

One 12-acre site has a two-story, 146,000-sf office building, structure parking for over 500 vehicles, and surface parking for over 450 vehicles. Employees will start occupying the space in April.

The 16-acre second site can house between​ 100,000 and 140,000 sf of office space.

The project will create over 500 jobs including management positions in research, mortgage and loan operations, financial service center operations, collections, information technology, and human resources.​​

PRNewswire
San Antonio-New Braunfels
Office
https://www.prnewswire.com/news-releases/penfed-announces-site-location-for-new-regional-financial-service-center-in-san-antonio-texas-300813691.htmlRead the full article at {Source}
Business incubator advancing in the ValleyBusiness incubator advancing in the Valleyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=221392019-03-18T05:00:00Z2019-03-19T00:00:00Z

​​​BROWNSVILLE – The Brownsville Community Improvement Corp. will develop an entrepreneurial center to create and help local businesses. ​

The Center for Business and Commercialization (eBridge) will be made up of 36,000 sf at 1304 E. Adams St. and an additional 24,000 sf on the same block. 

It will house business incubators, small business boot camps, business planning and development workshops, market research, a mentoring network, and small business administration services. 

The project is being designed by the University of Texas-Rio Grande Valley, the Brownsville Chamber of Commerce, the Women’s Business Center of the Rio Grande Valley, and the city.​

Connect Media
Brownsville-Harlingen
Office
https://riograndeguardian.com/exclusive-largest-entrepreneurial-center-south-of-san-antonio-to-be-built-in-brownsville/

​​Read more at The Rio Grande Guardian​.

Source: {Source}
East Austin office development opening fall 2019East Austin office development opening fall 2019https://www.recenter.tamu.edu/news/newstalk-texas/?Item=221382019-03-18T05:00:00Z2019-03-18T23:25:00Z

​​​​A rendering of 2010 East Sixth St.AUSTIN – A 115,000-sf office development at 2010 E. Sixth St. will open this fall. 

Aquila C​ommerci​al's project will offer three floors of office space and four levels of garage parking. ​

GoDaddy, a domain registrar and web-hosting company, will be the tenant.
Community Impact Newspaper
Austin-Round Rock
Office
https://communityimpact.com/local-news/austin/central-austin/news/development-construction/2019/03/13/office-development-2010-east-sixth-street-coming-to-east-austin/

​See also​: Austin-Round Rock Office Market Research.

Source: {Source}
Investor upgrades, flips Plano apartmentsInvestor upgrades, flips Plano apartmentshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=221402019-03-18T05:00:00Z2019-03-18T23:15:00Z

​​​Legends at Chase OaksPLANO – New York-based The Praedium Group has sold the 346-unit Legends at Chase Oaks apartments within the Watters Creek golf course.

Built in 1997 at ​701 Legacy Dr., the property consists of 32 two-story buildings with a majority of the units having direct-access garages. 

Praedium acquired the property in 2014​ and upgraded unit interiors and common areas.
Morningstar
Dallas-Fort Worth-Arlington
Multifamily
https://www.morningstar.com/news/pr-news-wire/PRNews_20190314PH82412/the-praedium-group-sells-legends-at-chase-oaks-in-dallas-tx.html

Check out Dallas-Fort Worth-Arlington Multifamily Market Research.

Check {Source} for more information
Local developer buys South Side warehouseLocal developer buys South Side warehousehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=221372019-03-18T05:00:00Z2019-03-18T23:10:00Z

​​​​​The Lifshutz Cos., headed by local developer James Lifshutz, has bought a 25,296-square-foot flex warehouse across the street from Blue Star.SAN ANTONIO – The Lifshutz Cos. has bought a 25,296-sf flex warehouse at 1518 S. Alamo St. from local nonprofit Say Sí.

The property is across the street from Lifshutz’s first development, Blue Star.

Say Sí, which had owned the property since 2005, will continue operations in the property under a two-year leaseback agreement.
San Antonio Business Journal
San Antonio-New Braunfels
Industrial
https://www.bizjournals.com/sanantonio/news/2019/03/14/lifshutz-buys-building-across-street-from-blue.html

​See also:​ San Antonio-New Braunfels Industrial Market Research​.

Read more at the {Source}

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