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​​​​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. 

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

​​​​​​​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. 

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

​​​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:

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

​​​​​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.

​​​​​​​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.​

​​​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.

​​​​​​​​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. 

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

​​​​​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.​

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

​​​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.

​​​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.​

​​​​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. 

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

​​​LONGVIEW – 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.”

​​​​​​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. ​

​​​​​​​​​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.

​​​​​​​​​​​​​​​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 – 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.

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

​​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.

​​​​​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.

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

​​​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.