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Anonymous buyer secures 288-unit One Pine Apartments Anonymous buyer secures 288-unit One Pine Apartments https://www.recenter.tamu.edu/news/newstalk-texas/?Item=217902019-01-18T06:00:00Z2019-01-19T02:00:00Z

​​​​Image of One Pine Apartments.HOUSTON – One Pine Apartments, a 288-unit multifamily community, has been purchased by an anonymous buyer. 

Built in 1972, the property offers one-, two-, and three-bedroom units and amenities such as a pool, playground, outdoor grilling area, and ​business center. 

Marcus & Millichap represented the seller and procured the buyer.
REBUSINESS
Houston-The Woodlands-Sugar Land
Multifamily
https://rebusinessonline.com/marcus-millichap-brokers-sale-of-288-unit-apartment-community-in-houston/

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

Read more at {Source}
GVA winding up to acquire 438-unit complexGVA winding up to acquire 438-unit complexhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=217812019-01-18T06:00:00Z2019-01-19T01:00:00Z

​​​​​​​Image of the Winding Trails pool.HOUSTON – GVA Real Estate Group has acquired Winding Trails, a 438-unit, garden-style apartment community ​​at 10330 Wilcrest Dr. near Beltway 8 and I-69.

The nearly 14-acre property was originally developed in 1979 and encompasses a mix of one-, two-, and three-bedroom units averaging 803 sf.

Amenities include country kitchens with pass-through bars, wood plank flooring, oversized walk-in closets, and private patios or balconies. 

The HFF investment advisory team represented the seller, One Real Estate Investment. 
HFF
Houston-The Woodlands-Sugar Land
Multifamily

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

Source: {Source}
Houston Center, we've got a renovation on deckHouston Center, we've got a renovation on deckhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=217882019-01-18T06:00:00Z2019-01-19T01:00:00Z

​​​Rendering of the Houston Center's renovation.HOUSTON – Brookfield Properties will break ground in February on a full-scale renovation of Houston Center, the four-building mixed-use complex that Brookfield bought in 2017 for $875 million, a record-high sum.

Renovations will include a new central plaza and green space along McKinney St., a digital water wall, upgrades to the sky bridges between the complex's shopping and retail center, new dining and retail, and coworking space.

Houston Center is comprised of the:

  • 1.2 million-sf Fulbright Tower;
  • 1.1 million-sf LyondellBasell Tower;
  • 1 million-sf two Houston Center;
  • 67​4,000-sf four Houston Center; and
  • 196,000 sf of retail space at The Shops at Houston Center.
The renovations are scheduled to wrap up in late 2020. Transwestern is leasing the project on behalf of Brookfield. 
Houston Business Journal
Houston-The Woodlands-Sugar Land
Mixed-Use
https://www.bizjournals.com/houston/news/2019/01/16/brookfields-houston-center-overhaul-to-include.html

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

Read more at the {Source}
Ridgeline Capital hits Broadway with 42K-sf purchaseRidgeline Capital hits Broadway with 42K-sf purchasehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=217892019-01-18T06:00:00Z2019-01-19T01:00:00Z

​​​​Image of Pearland Central Medical Plaza.​PEARLAND – Dallas-based Ridgeline Capital Partners has purchased the 41,762-sf Pearland Central Medical Plaza.

The Class A medical office building ​at 8619 Broadway St. was 83 percent occupied at the time of sale.

Built in 2003, the plaza houses tenants offering services in imaging, orthopedics, physical therapy, primary care, and dentistry. 
REBUSINESS
Houston-The Woodlands-Sugar Land
Medical
https://rebusinessonline.com/ridgeline-capital-buys-41763-sf-medical-office-building-in-metro-houston/Read more at {Source}
Patience: 600 Building sale completed after three-year negotiation Patience: 600 Building sale completed after three-year negotiation https://www.recenter.tamu.edu/news/newstalk-texas/?Item=217872019-01-18T06:00:00Z2019-01-19T00:35:00Z

​​​​​​Image of the 600 Building.​CORPUS CHRISTI – After three years in negotiations, Wisznia Architecture and Development of New Orleans have purchased the 600 Building in uptown.

​Designed as a business tower, the building soon will become a 131-unit multifamily apartment complex.

No changes are expected for the exterior, which will be preserved in compliance with federal and state historical regulations.

Built in 1963, the 600 Building is the sixth-tallest tower in Corpus Christi, reaching 248 feet tall over 21 floors. The project is expected to begin in summer 2019.​

Corpus Christi Business News
Corpus Christi
Multifamily
https://www.ccbiznews.com/news/600-building-sells-after-3-year-negotiationRead more at the {Source}
UTRGV inaugurates 112K-sf Science BuildingUTRGV inaugurates 112K-sf Science Buildinghttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=217922019-01-18T06:00:00Z2019-01-19T00:30:00Z

​​​Image of the new UTRGV science building.EDINBURG – The new 111,882-sf Science Building at the University of Texas – ​​Rio Grande Valley was officially inaugurated after finishing construction in May 2018.

The new building includes 17 research labs, four teaching labs, three general classrooms, 43 faculty and staff offices, two research assistant suites, conference rooms, and open study areas.

The original science wing was built in the 1990s and is now only one part of what encloses a courtyard, connecting it to the new wing of the building, which completely surrounds the yard.

The four-story project cost $72.1 million.
The Monitor
McAllen-Edinburg-Mission
Education
https://www.themonitor.com/2019/01/15/utrgv-boasts-newest-buildings/Read more at {Source}
Simpkins Group acquires 129K-sf Houston officeSimpkins Group acquires 129K-sf Houston officehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=217912019-01-18T06:00:00Z2019-01-19T00:00:00Z

​​​​​​​​Image of 1919 N. Loop W.HOUSTON – Weingarten Realty Investors has sold a 129,250-sf office building at 1919 N. Loop W. to Simpkins Group Inc.

The building's occupancy hovers​​​​​ between 85 percent and 90 percent, according to JLL. 

Since the time of purchase, Simpkins Group has increased rent rates at the building. JLL represented Weingarten in the deal.
Houston Business Journal
Houston-The Woodlands-Sugar Land
Office
https://www.bizjournals.com/houston/news/2019/01/15/weingarten-sells-heights-area-office-building.html

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

Read more at the {Source}
NAPA flattens its North Texas portfolioNAPA flattens its North Texas portfoliohttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=217952019-01-18T06:00:00Z2019-01-18T23:50:00Z

​​​​​DALLAS – Austin-based NAPA Ventures LLC has sold four of their multifamily properties in North Texas.

The company purchased the properties as part of an eight-property portfolio in 2016 and renovated each as part of a value-add strategy.

The properties include:

  • Westwood Apartments at 3064 Spruce Valley Ln. in Dallas;

  • Ravenwood Apartments at 2333 Escalante Ave. in Fort Worth;

  • Oates Creek Apartments at 1805 Oates Dr. in Mesquite; and

  • Brandon Mill Apartments at 8081 Marvin D. Love Fwy. in Dallas.​

NAPA is also set to sell two more properties this quarter: the 650-unit Montecito Creek Apartment Homes at 11300 Amanda Ln. in Dallas, and the 159-unit Pleasant Creek Apartments at 1255 W. Pleasant Run Rd. in Lancaster.​

PRNewswire
Dallas-Fort Worth-Arlington
Multifamily
https://www.prnewswire.com/news-releases/napa-ventures-exits-four-apartment-complexes-in-dallas---fort-worth-metroplex-yielding-higher-than-projected-returns-300779569.html

​See also​: Dallas-Fort Worth-Arlington Multifamily Market Research.

Source: {Source}
Texas unemployment remains at historic lowTexas unemployment remains at historic lowhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=217972019-01-18T06:00:00Z2019-01-18T16:00:00Z

​​​AUSTIN – Texas’ seasonally adjusted unemployment rate remained steady at 3.7 percent in December, marking the third consecutive month of historic unemployment lows.​

According to data from the Texas Workforce Commission, the state’s seasonally adjusted unemployment has been at this level since October.​

The Texas economy added 38,0​00 seasonally adjusted nonfarm jobs last month. The state's annual employment growth was 3.2 percent in December​​, marking 104 consecutive months of annual growth.

The Texas metro with the lowest nonseasonally adjusted unemployment rate was Midland at 2.1 percent. McAllen-Edinburg-Mission had the highest at 6.7 percent.

​​​​​The mining and logging industry saw the largest seasonally adjusted growth in employment from December 2017 to December 2018, growing 18​ percent. The information industry was the only one to lose jobs with employment dropping 2.1 percent over the year.

Texas Workforce Commission
Texas
Employment
https://twc.texas.gov/news/texas-employment-growth-continues-decemberRead more at {Source}
Soccer Central kicks off $6.2M facilitySoccer Central kicks off $6.2M facilityhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=217822019-01-16T06:00:00Z2019-01-18T01:00:00Z

​​​Rendering of Soccer Central and fields.SAN ANTONIO – Officials have broken ground on a $6.2 million Soccer Central Sports Complex at 6610 Low Bid Ln.

Dubbed Soccer Central, the site will include an 82,000-sf indoor/outdoor training facility, a pro shop,​ and 15 fields. The complex will also house classrooms, a cafe, and European-style training machines.

Phase 1 is expected to be done by June.​

Online news
San Antonio-New Braunfels
Public Facilities
https://www.sacurrent.com/the-daily/archives/2019/01/15/work-starts-on-a-62-million-soccer-facility-in-northwest-san-antonioSource: {Source}
Firm buys the land out from beneath its buildingFirm buys the land out from beneath its buildinghttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=217792019-01-17T06:00:00Z2019-01-18T00:20:00Z

​​A look at Telos Fitness Center, located in North Dallas​​FARMERS BRANCH – A ground lease that contains two buildings along the west side of Dallas North Tollway near the Dallas Galleria has changed hands.

Southern Properties Capital, a subsidiary of Transcontinental Realty Investors Inc., has purchased the land beneath Stanford Corporate Centre and the adjoining Telos Fitness Center.

Both buildings were built in the 1980s and have belonged to Transcontinental since 2008. 

The 13-story Stanford Corporate Centre has more than 274,000 sf, and the Telos Fitness Center has about 63,000 sf.
Dallas Business Journal
Dallas-Fort Worth-Arlington
Land
https://www.bizjournals.com/dallas/news/2019/01/15/north-dallas-area-ground-lease-changes-hands.html

​See also: Dallas-Fort Worth-Arlington Office Market Research.​

Read more at the {Source}
Flights to continue out of Longview airportFlights to continue out of Longview airporthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=217832019-01-17T06:00:00Z2019-01-18T00:10:00Z

​​​An airplane at East Texas Regional airportLONGVIEW – Midmorning commercial flight service will continue for now at the East Texas Regional Airport as a result of a 24 percent gain last year in passengers.

The midmorning flight was added on a provisional basis in 2018.

Management for Envoy Air—a subsidiary of American Airlines—will keep operating its midmorning flight between DFW International Airport and Longview every day after 10 a.m. until April 2, when the arrival and departure will move to the lunch hour.

After April 2, midday service will continue until “further notice.”

In 2018, more than 23,300 passengers boarded flights out of East Texas Regional Airport, an increase of 24 percent compared with the less than 19,000 passengers in 2017, according to an American Airlines activity report from the county.
Longview News-Journal
Longview
Infrastructure & Transportation
https://www.news-journal.com/news/local/increased-sales-keep-midday-flight-aloft-at-east-texas-regional/article_f5b0fab8-181b-11e9-b7d7-737f9ed8e736.htmlRead more at the {Source}
Florida buyer heads for the Westover HillsFlorida buyer heads for the Westover Hillshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=217762019-01-16T06:00:00Z2019-01-18T00:00:00Z

​​​​​Fifty02 Westover Hills logo.​SAN ANTONIO – Florida-based Waypoint Residential has bought a 343-unit apartment complex formerly known as Aura Westover Hills.

The complex at 5002 Wiseman Blvd. features one-, two-, and three-bedroom units. Monthly rents average $1,079, or $1.24 per sf.

The multifamily community has been rebranded as Fifty02 Westover Hills.

The property was sold by Dallas-based developer Trinsic Residential Group. ​

San Antonio Business Journal
San Antonio-New Braunfels
Multifamily
https://www.bizjournals.com/sanantonio/news/2019/01/10/south-florida-companybuys-343-unit-far-west-side.htmlRead more at {Source}
Midland continues streak of 200 homes sold in a month Midland continues streak of 200 homes sold in a month https://www.recenter.tamu.edu/news/newstalk-texas/?Item=217772019-01-16T06:00:00Z2019-01-18T00:00:00Z

​​​​​​​​Sold home sign.​MIDLAND COUNTY – November 2018 marked the ninth-straight month of more than 200 homes sold in the area.

The Permian Basin Board of Realtors reported the 204 homes sold was the first time this decade that 200 or more homes were sold in November.

The total also indicates there will be a new decade-high for homes sold in a year. Through November, 2,325 homes were sold in the county.

At the same time, the number of available homes on the market dropped to 327, the lowest number since June.

In November, the most homes sold in a price range was 50 in the $300,000 to $399,999 range. There were 45 homes sold in the $250,000 to $299,999 range.

Midland Reporter-Telegram
Midland
Housing
https://www.mrt.com/business/article/PBBOR-Streak-of-200-homes-sold-in-a-month-13525623.phpRead more at {Source}
Roger that: 170K-sf shopping center soldRoger that: 170K-sf shopping center soldhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=217782019-01-16T06:00:00Z2019-01-18T00:00:00Z

​​​​​​​​​​​​​Military Crossing Shopping Center.​​SAN ANTONIO – Nooner Holdings has purchased the 171,404-sf Military Crossing Shopping Center from Santikos Real Estate Services.

The shopping center at the northwest corner of W. Military Dr. and NW Loop 410 was last assessed for nearly $21.4 million, according to the Bexar County Appraisal District.

The center’s tenants include Academy Sports + Outdoors, LA Fitness, and Chase Bank.

San Antonio Business Journal
San Antonio-New Braunfels
Retail
https://www.bizjournals.com/sanantonio/news/2019/01/15/local-company-buys-171k-sf-far-west-shopping.htmlRead more at the {Source}
New owner for cottage complex near UTSANew owner for cottage complex near UTSAhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=217802019-01-16T06:00:00Z2019-01-18T00:00:00Z

​​​The Estates in San Antonio.​SAN ANTONIO – The Preiss Company has acquired the Estates at San Antonio student housing community at 6515 Hausman Rd.

The 288-bed, 58-building complex is comprised of 104 units in cottage-style, two-story buildings. It features a variety of layouts, including two-bedroom/​2.5-bath, three-bedroom/3.5-bath,​​​​ and four-bedroom/four- or ​five-bath units.

It sits less than two miles from the University of Texas – San Antonio.

TPCO will manage the property.

BusinessWire
San Antonio-New Braunfels
Multifamily
https://www.businesswire.com/news/home/20190115005193/en/Source: {Source}
Ten Houston master-planned communities in top 50 nationallyTen Houston master-planned communities in top 50 nationallyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=217842019-01-17T06:00:00Z2019-01-18T00:00:00Z

​​​​IRVINE, Calif. – Ten Houston-area master-planned communities have landed on John Burns Real Estate Consulting's Top 50 list for 2018.

No metro appeared more times than Houston. The metro with the next-most number of appearances on the list is Phoenix. Texas was also the leading state with 14 appearances. Florida followed with 11 appearances. 

Johnson Development Corp.'s Sienna Plantation took the top spot in Texas and tied for 14th nationally with DMB's Verado development in Phoenix. The Missouri City community had 530 net sales last year.

Other area developments on the list are:

  • No. 18 Howard Hughes Corp.'s Bridgeland in Cypress, 482 sales;
  • No. 26 Johnson Development's Cross Creek Ranch in  Fulshear, 451 sales;
  • No. 30 AIRIA's Aliana in Richmond, 430 sales;
  • No. 31 Johnson and Land Tejas Co.'s Harmony in Spring, 425 sales;
  • No. 39 Johnson's Riverstone in Sugar Land, 370 sales;
  • No. 41 Johnson's Woodforest in Montgomery, 365 sales;
  • No. 44 The Woodlands Dev. Co. and Howard Hugh​​e's The Woodlands, 343 sales;
  • No. 46 Friendswood Development Co.'s Wildwood at Northpointe in Tomball, 335 sales; and 
  • No. 47 Land Tejas Co.'s Balmoral in Houston, 334 sales. 

Four other Texas developments were on the list. They are:

  • No. 24 John Lloyd Development's Siena in Round Rock, 470 sales;
  • No. 33 Hillwood Communities' Harvest in Argyle, 420 sales;
  • No. 42 Johnson's Viridian in Arlington, 357 sales (tied with Brambleton Group's Brambleton in  Washington D.C.); and 
  • No. 48 Galo Properties' Alamo Ranch in San Antonio, 330 sales.
John Burns Real Estate Consulting
Houston-The Woodlands-Sugar Land
Housing
https://www.realestateconsulting.com/stay-informed/top-selling-master-planned-communities/

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

Read more at {Source}
Remodeling spending slowing but growingRemodeling spending slowing but growinghttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=217862019-01-17T06:00:00Z2019-01-17T15:00:00Z

​​CAMBRIDGE, Mass. – Annual growth in national home improvement and repair spending is expected to slow considerably by the end of the year, according to the Leading Indicator of Remodeling Activity (LIRA) released by the Remodeling Futures Program at the Joint Center for Housing Studies (JCHS) at Harvard University.

The LIRA projects that gains in renovation and repair spending to owner-occupied homes will shrink from 7.5 percent in 2018 to 5.1 percent in 2019.

“Slowing house price appreciation, flat home sales activity, and rising mortgage interest rates are deflating owners’ interest in making major investments in home improvements this year," said JCHS Managing Director Chris Herbert. "Continued slowdowns in homebuilding, sales of building materials, and remodeling permits all point to a more challenging environment for home remodeling in 2019.”

Despite these challenges, improvement and repair spending will still expand to over $350 billion this year. This slowdown is more in line with the historical average annual gain.

Leading Indicator of Remodeling Activity 4Q 2018

Joint Center for Housing Studies of Harvard University
U.S.
Housing
http://www.jchs.harvard.edu/press-releases/expected-gains-remodeling-spending-slide-lower-2019Read more at {Source}
129K-sf office building traded near The Galleria129K-sf office building traded near The Galleriahttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=217682019-01-16T06:00:00Z2019-01-17T01:00:00Z

​​​​​HOUSTON – Weingarten Realty Investors has sold a six-story, 129,250-sf office building at 1919 N. Loop W. ​

An affiliate of Houston-based Simpkins Group Inc. purchased the building near the Galleria and Memorial Hermann Greater Heights Hospital.

JLL arranged the sale. 
REBUSINESS
Houston-The Woodlands-Sugar Land
Office
https://rebusinessonline.com/weingarten-sells-129250-sf-office-building-in-northwest-houston/

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

Read more at {Source}
AT&T expands Big D campusAT&T expands Big D campushttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=217722019-01-16T06:00:00Z2019-01-17T00:50:00Z

​​​The Interurban Building.DALLAS – AT&T is expanding its downtown campus with the purchase of the Interurban Building, a nine-story former rail station and office that has been converted to apartments and retail.

The building at 1500 Jackson St. adjoins AT&T's office tower complex along Akard Street.

AT&T started construction last year on a $100 million effort to revamp its four-block downtown campus, which it calls the Discovery District.
Dallas Morning News
Dallas-Fort Worth-Arlington
Mixed-Use
https://www.dallasnews.com/business/real-estate/2019/01/14/att-grows-downtown-dallas-campus-historic-building-purchaseRead more at the {Source}

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