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EastGroup Properties to develop 369K-sf industrial park EastGroup Properties to develop 369K-sf industrial park https://www.recenter.tamu.edu/news/newstalk-texas/?Item=227912019-07-16T05:00:00Z2019-07-17T00:00:00Z

​​SAN ANTONIO – Industrial developer EastGroup Properties is planning its latest industrial park.

Ridgeview 35, which will consist of four buildings totaling 369,000 sf, will be across from Brooke Army Medical Center between I-35 and Loop 410 along Binz-Engleman Rd. 

Phase one of the project will consist of two buildings totaling 226,000 sf, which will break ground this quarter.

Building one will be a front-load warehouse distribution building totaling 136,700 sf with room for two tenants. 

Building two will be a rear-load light distribution building totaling 89,300 sf and could accommodate up to four tenants. Both buildings will have I-35 frontage and visibility.

The two buildings are expected to break ground in September and wrap up construction by May 2020. 

The phase-one development team includes architect Pross Design Group out of Dallas, civil engineer Pape-Dawson Engineers Inc., general contractor R.C. Page Construction, and the project's listing broker, Cavender & Hill Properties.

San Antonio Business Journal
San Antonio-New Braunfels
Industrial
https://www.bizjournals.com/sanantonio/news/2019/07/15/mississippi-developer-planning-huge-new-industrial.htmlRead more at the {Source}
NitNeil loads up on 678-unit Round Rock self-storageNitNeil loads up on 678-unit Round Rock self-storagehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=227852019-07-16T05:00:00Z2019-07-16T23:00:00Z

​​​ROUND ROCK – NitNeil Partners has purchased a 678-unit self-storage facility at the corner of University Blvd. and N.A.W. Grimes Blvd. 

Built in 2017, the multistory property spans approximately 78,000 rentable sf of climate-controlled space. 

Life Storage manages the property, which is NitNeil’s second in metro Austin, including one under construction within an East Austin opportunity zone.
REBUSINESS
Austin-Round Rock
Retail
https://rebusinessonline.com/nitneil-partners-purchases-678-unit-self-storage-facility-in-metro-austin/Read more at {Source}
Pantego Auto Center pit stops for owner change Pantego Auto Center pit stops for owner change https://www.recenter.tamu.edu/news/newstalk-texas/?Item=227872019-07-16T05:00:00Z2019-07-16T23:00:00Z

​​​ARLINGTON – A 1031 exchange investor has purchased the Pantego Auto Center, a 36,910-sf retail center at 2101 W Pioneer Pkwy.

The center was fully leased at the time of sale to a mix of tenants in the automobile industry. 

Marcus & Millichap secured the buyer and represented the seller, a private investor, in the transaction. 
Citybizlist
Dallas-Fort Worth-Arlington
Retail
https://houston.citybizlist.com/article/560240/marcus-millichap-arranges-the-sale-of-a-36910-sf-retail-propertyRead more at the {Source}
Victory Capital takes a lap around La Cantera Victory Capital takes a lap around La Cantera https://www.recenter.tamu.edu/news/newstalk-texas/?Item=227892019-07-16T05:00:00Z2019-07-16T22:00:00Z

​​​SAN ANTONIO – Victory Capital Holdings Inc. will occupy two floors in the WestRidge at La Cantera complex at 15935 La Cantera Parkway, also known as the WestRidge Two building. 

The company agreed to move its headquarters to San Antonio in exchange for $500,000 in economic incentives from the city, after it agreed to buy USAA Asset Management Co. for $850 million.

Victory Capital will move into the second and third floor of the WestRidge building and share common space on the first floor.

The company is expected to have more than 350 employees in this market. Initially, the building will house roughly 120 Victory Capital employees and about 130 employees of FIS Investor Services.
San Antonio Business Journal
San Antonio-New Braunfels
Office
https://www.bizjournals.com/sanantonio/news/2019/07/08/victory-capital-chooses-location-fornew-san.htmlRead more at the {Source}
Global Heat Transfer Houston inks 42K-sf lease extension Global Heat Transfer Houston inks 42K-sf lease extension https://www.recenter.tamu.edu/news/newstalk-texas/?Item=227862019-07-16T05:00:00Z2019-07-16T18:00:00Z

​​​HUMBLE – Global Heat Transfer Houston has signed a 41,675-sf industrial lease extension at 14428 Smith Rd. 

Newmark Knight Frank represented the tenant in the lease negotiations. 

Capital Real Estate Commercial represented the landlord.
REBUSINESS
Houston-The Woodlands-Sugar Land
Industrial
https://rebusinessonline.com/nkf-negotiates-41675-sf-industrial-lease-extension-in-metro-houston/Read more at {Source}
Austin second-best large city to live in, reports WalletHubAustin second-best large city to live in, reports WalletHubhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=227902019-07-16T05:00:00Z2019-07-16T17:00:00Z

​WASHINGTON – The Texas capital is the second-best large city in which to live, according to WalletHub's comparison of the 62 largest U.S. cities. Austin lost the top spot to Virginia Beach, Va., by a narrow margin.

WalletHub, a personal finance website, based its rankings on indicators such as quality of public schools, job opportunities, and property taxes.

Austin​ ranked third in "economy," eighth in "education and health," 17th in "quality of life," and 30th in "affordability." It was in a six-way tie for first in "highest income growth."​

Other Texas cities ranking among the top 50 were Arlington (25th), Fort Worth (30th), San Antonio (31st), El Paso (32nd), Corpus Christi (43rd), Houston (45th), and Dallas (47th).

Speaking of El Paso, the city ranked third in "lowest crime rate."

WalletHub
Austin-Round Rock
Economy
https://wallethub.com/edu/best-worst-large-cities-to-live-in/14358/Read more at {Source}
$895M complex to consolidate Austin-area state agencies$895M complex to consolidate Austin-area state agencieshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=227882019-07-16T05:00:00Z2019-07-16T16:00:00Z

​​AUSTIN – A new downtown development currently in the works will consolidate area state agencies into 1.5 million sf north of the capitol.

The first phase of the $895 million Texas Capitol Complex started in 2018. That phase consists of two new office buildings—a 416,000-sf building at 1601 Congress Ave. and a 603,000-sf building at 1801 Congress Ave.—and five levels of underground parking.

Phase one will begin occupancy in 2021 with completion in May 2022.

Phase two includes buildings on 15th St. and Lavaca St., bringing an additional 525,000 sf of office space and 2,550 parking spaces to the Capitol Complex. This phase will begin in late 2022 and wrap up in July 2025.

Phase Three will add two more state office buildings to the complex.

Once the project is finished, the state will be able to retire all remaining area leases at an estimated annual savings of $7.5 million.

Strategic Partnerships
Austin-Round Rock
Office
https://www.spartnerships.com/newsletter/current/tgi.htmlRead more at {Source}
McAllen industrial market vacancy hits record low McAllen industrial market vacancy hits record low https://www.recenter.tamu.edu/news/newstalk-texas/?Item=227782019-07-12T05:00:00Z2019-07-15T23:00:00Z

​​McALLEN – Second quarter 2019 net absorption softened compared with first quarter 2019, but remained positive registering almost 103,000 sf of net absorption and 233,000 sf of gross absorption.

Quarter-over-quarter, the marketwide vacancy rate dipped by 14 basis points and fell from 3.5 percent in 2Q2018 to 1.6 percent, setting a new record low.

Additionally, quarter-over-quarter, marketwide asking rates grew by $0.24 per sf.

During this same time, Class A rents increased by $0.29 per sf and Class B by $0.32 per sf, marking a new record high for both product classes as well as the marketwide rate.

The second quarter closed with users seeking over 1.3 million sf of space. This is 350,000 sf more than total available sf and three times more than total vacant sf in the market. 
CBRE
McAllen-Edinburg-Mission
Industrial
https://www.cbre.us/research-and-reports/McAllen-Industrial-MarketView-Q2-2019See the full report at {Source}
One and Three Riverway wrap up renovationsOne and Three Riverway wrap up renovationshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=227802019-07-15T05:00:00Z2019-07-15T22:00:00Z

​​​​HOUSTON — Endurance Builders has completed renovations of One and Three Riverway, two office buildings totaling 880,000 sf.

Ziegler Cooper Architects handled the design of the renovation. Upgraded amenities include a coffee bar, tenant lounge, fitness center, and conference centers. 

CBRE handles leasing of the buildings, and Unilev Management Corp. manages them.
REBUSINESS
Houston-The Woodlands-Sugar Land
Office
https://rebusinessonline.com/endurance-builders-completes-renovations-of-two-houston-office-buildings-totaling-880000-sf/Source: {Source}
Quadrant Investments acquires former RK Group HQQuadrant Investments acquires former RK Group HQhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=227792019-07-12T05:00:00Z2019-07-15T22:00:00Z

SAN ANTONIO – Quadrant Investment Properties has bought The RK Group's current headquarters at 1220 E. Commerce St.

The company borrowed $4.3 million from HFM Services to buy the 71,342-sf building with plans to build an office and retail building on the site.

Situated on five acres, the property includes a large surface parking lot that wraps around the building, which was built in 1958. 
San Antonio Business Journal
San Antonio-New Braunfels
Office
https://www.bizjournals.com/sanantonio/news/2019/07/08/dallas-investor-enters-market-with-acquisition-of.htmlRead more at the {Source}
Private investor buys 32K-sf Independence ParkPrivate investor buys 32K-sf Independence Parkhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=227842019-07-15T05:00:00Z2019-07-15T22:00:00Z

​​PLANO – A private investor has purchased Independence Park, a 31,950-sf retail property at 3020 Legacy Dr.

Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a private investor, and procured the buyer. 
Marcus & Millichap
Dallas-Fort Worth-Arlington
Retail
Source: {Source}
Plastic manufacturer's Humble beginningsPlastic manufacturer's Humble beginningshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=227812019-07-15T05:00:00Z2019-07-15T21:00:00Z

​​HUMBLE – Plastic manufacturer Starplast USA LLC has signed a 56,195-sf industrial lease at 8575 Volta Dr.

According to LoopNet Inc., the property was built in 2016 and spans 168,400 sf. 

Cypressbrook Co. represented the landlord, Nuveen Real Estate, in the lease negotiations. JLL represented the tenant.
REBUSINESS
Houston-The Woodlands-Sugar Land
Industrial
https://rebusinessonline.com/plastic-manufacturer-signs-56195-sf-industrial-lease-in-metro-houston/Read more at {Source}
Northgate Business Park IV trades hands Northgate Business Park IV trades hands https://www.recenter.tamu.edu/news/newstalk-texas/?Item=227832019-07-15T05:00:00Z2019-07-15T16:00:00Z

DALLAS – SJ & JL LLC has purchased the 58,193-sf Northgate Business Park IV as part of an ongoing industrial disposition spearheaded by Bradford Commercial Real Estate Services.

The property has direct access to Miller Rd. and is close to Jupiter Rd., a pair of densely developed primary arteries in the northeast Dallas business corridor. 

AQS will extensively renovate the freestanding Northgate Business Park IV prior to occupancy. 

Coldwell Banker Commercial represented the buyer. 
Bradford Commercial Real Estate Services
Dallas-Fort Worth-Arlington
Industrial
Source: {Source}
Tax firm doubling office space in RockwallTax firm doubling office space in Rockwallhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=227762019-07-11T05:00:00Z2019-07-12T21:00:00Z

​​​ROCKWALL – National tax consultant firm KE Andrew​s has purchased ten acres overlooking Lake Ray Hubbard for a three-story, 80,000-sf campus.

Around 125 employees will move from the firm's current 30,000-sf building at 1900 Dalrock Rd. in Rowlett into the new facility by late 2020.​​

Andrews will initially occupy between 50,000 and 60,000 sf in the new building. The remaining space will be reserved for anticipated growth. 

BOKA Powell designed the facility, which ​​​​will have a large kitchen, fitness center, disc golf, and walking trails. 

Construction begins in November.

Dallas Business Journal
Dallas-Fort Worth-Arlington
Office
https://www.bizjournals.com/dallas/news/2019/07/11/ke-andrews-rockwall.htmlRead more at {Source}
The Brandt in Las Colinas soldThe Brandt in Las Colinas soldhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=227772019-07-11T05:00:00Z2019-07-12T21:00:00Z

​​IRVING ​– Western Wealth Capital has purchased The Brandt, a 504-unit multifamily community at ​​3950 N. Story Rd. in Las Colinas.

​The property offers one- and two-bedroom floor plans ranging from 632 to 1,045 sf. 

Amenities include three pools, a fitness center, dog park, and clubhouse.

Berkadia arranged a $48 million acquisition loan through Freddie Mac on behalf of the borrower, who will upgrade unit interiors.​

REBUSINESS
Dallas-Fort Worth-Arlington
Multifamily
http://rebusinessonline.com/berkadia-places-48m-acquisition-loan-for-irving-apartments/Read more at {Source}
Parking garage planned near Lubbock's Citizens TowerParking garage planned near Lubbock's Citizens Towerhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=227722019-07-11T05:00:00Z2019-07-12T20:00:00Z

​​​​​​​LUBBOCK – The city council is building a three-story, $6.7 million parking garage south of Citizens Tower.

​The under-construction tower at 1208 14th St. will be ​the new home for city officials. With police headquarters and municipal court also moving to the area, more parking spots were necessary.

​The garage will have more than 400 parking spaces

A two-story garage was demolished on the site. Completion is expected by the end of 2020.

Lubbock Avalanche-Journal
Lubbock
Public Facilities
https://www.lubbockonline.com/news/20190709/plans-for-lubbocks-new-high-rise-city-hall-now-include-parking-garageRead more at {Source}
Millionaire, demi-billionaire growth boosts Texas real estate Millionaire, demi-billionaire growth boosts Texas real estate https://www.recenter.tamu.edu/news/newstalk-texas/?Item=227732019-07-12T05:00:00Z2019-07-12T20:00:00Z

​​BRENHAM – An unprecedented increase in millionaires and demi-billionaires in the United States has given rise to the purchase of new properties in Texas.

"There has been an uptick in the numbers of listings and sales of multimillion-dollar properties because of the increase in the wealthy migrating to our area," said Kelli Brennan, vice president of Coldwell Banker Properties Unlimited. "Many millionaires and demi-billionaires in the market are buying their second or third homes, and Texas is one of their desired destinations."

Nationwide, there are now 32 million millionaires, defined as those with a net worth of $1 million or greater, and there are approximately 2,000 demi-billionaires (those with more than $500 million in assets), which is a sharp increase since the 1980s.

Two of the top 15 locations in the U.S. for the ultra wealthy are Dallas-Fort Worth-Arlington and Houston-The Woodlands-Sugar Land.

​For more on the high-end home market in Texas, read "Livin' Large: Texas' Robust Luxury Hom​​e Market," by Center Senior Data Analyst Joshua Roberson.

Coldwell Banker Properties Unlimited
Texas
Housing
Read more at {Source}
Austin investor goes Hogg huntingAustin investor goes Hogg huntinghttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=227742019-07-11T05:00:00Z2019-07-12T20:00:00Z

​​​HOUSTON – ​​Austin-based Kline Properties has acquired the Hogg Palace Lofts, an eight-story mixed-use property at 401 Louisiana St.

​​​Constructed in 1921, the 80,343-sf building, designated a historical site by the Texas Historical Commission, was converted into lofts in 1995 by seller Randall Davis Co. 

It features 79 units ranging from 670 to 1,811 sf. It also has 14,212 sf of retail and office space on the first and eight floors. 

JLL brokered the deal.​

Realty News Report
Houston-The Woodlands-Sugar Land
Mixed-Use
http://realtynewsreport.com/2019/07/10/austin-investor-buys-hogg-palace-lofts-in-downtown-houston/Read more at {Source}
Airbnb collected $24 million in Texas taxesAirbnb collected $24 million in Texas taxeshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=227712019-07-11T05:00:00Z2019-07-12T19:00:00Z

​DALLAS – ​​​​In its second year since it reached an agreement with the state to collect short-term rental taxes from guests, Airbnb collected $24 million in Texas.

That's a 57 percent increase from the $15.3 million it send to the Texas Comptroller's Office last year.

Airbnb collects a 6 percent tax from people who booked in Texas and returns that revenue to the state.

The home-sharing service has been making local deals, as well. For example, hosts have to pay an additional 7 percent short-term rental tax in Plano.

North Texas Airbnb hosts welcomed a combined 466,000 guests last year and brought in $6,800 in additional income on average.

Dallas Morning News
Texas
Hotel
https://www.dallasnews.com/business/business/2019/07/08/airbnb-sent-24-million-hotel-tax-revenue-back-texas-short-term-rental-activity-growsRead more at {Source}
Havenwood multifamily community soldHavenwood multifamily community soldhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=227702019-07-11T05:00:00Z2019-07-12T17:00:00Z

​​​​​FORT WORTH – Havenwood, a 316-unit apartment building at 6500 Melwood St. has been sold.

Built in 1985, the 25-building complex offers one- and two-bedroom floor plans averaging over 850 sf. 

Amentias include two swimming pools, a tennis and racquetball court, and courtyard space.

Marcus & Millichap's Silva Multifamily Team represented the seller, a Florida-based investment firm, and procured the buyer, a Dallas-based private investment company. The seller had owned the asset for seven years. 

Marcus & Millichap
Dallas-Fort Worth-Arlington
Multifamily
Read more at {Source}

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