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Texas weekly unemployment claims hit nearly 130,000 at start of JulyTexas weekly unemployment claims hit nearly 130,000 at start of Julyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=245692020-07-10T05:00:00Z2020-07-10T15:00:00Z

​​​​​​​​COLLEGE STATION – Initial unemployment claims in Texas shot up last week to almost 129,800 as the number of COVID-19 cases in Texas continued to increase.

The week ending July 4 was the worst for​ new claims since the week of May 16th.

Since March 21, nearly 2.8 million claims were filed in Texas, according to data from the U.S. Department of Labor (DOL). 

​Continuing unemployment claims decreased the week of June 27 to 1.21 million.​​

"Further waves of infections can reverse increased mobility and spending, affecting the path to recovery," said Real Estate Center Research Associate Paige Silva. "The second wave of COVID-19 cases in Texas has already prompted a partial scaling back of the reopening and a pause in future reopening plans.​ 

"The rise in initial claims does not bode well for a full recovery at a time when COVID-19 cases continue to increase."

Using data from the DOL and the Employment and Training Administration, the Center estimates that from March 21 to June 27, over 609,000 seasonally adjusted claims were filed in Houston-The Woodlands-Sugar Land. 

Houston registered the largest accumulated number of initial unemployment claims by any Texas metro during that 15-week period.

​Here are Center estimates for the other three major and the four border metros during that time:

  • Dallas-Fort Worth-Arlington, 599,900 claims;

  • San Antonio-New Braunfels, 188,200 claims;

  • Austin-Round Rock, 167,400 claims;

  • McAllen-Edinburg-Mission, 68,600 claims; 

  • El Paso, 62,800 claims;

  • Brownsville-Harlingen, 30,200 claims; and

  • Laredo, 18,900 claims.

In Texas, accommodation and food services, retail trade, and administrative/support/waste management/remediation services were the sectors with the greatest number of new unemployment claims in the week ending June 27. 

In the U.S., initial unemployment claims over the past 16 weeks ticked up to nearly 50 million, but weekly numbers are declining. Continuing claims decreased for the fifth straight week during the last week of June.

Texas logoThe Real Estate Center has a wealth of economic information online for free.

​Source: Real Estate Center


Real Estate Center
Texas
Employment
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Luxury apartment building opens in HoustonLuxury apartment building opens in Houstonhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=245702020-07-10T05:00:00Z2020-07-10T15:00:00Z

​​​HOUSTON – Madison Marquette has opened the Travis, a 30-story luxury apartment tower at 330​0 Main St. in Midtown. 

The 375,775-sf building has​​ one-, two-, and three-bedroom apartments and two penthouses​ above 14,000 sf of retail space. 

A ground-floor restaurant will open in first quarter 2021. 

Amenities include an aqua lounge with conference room, salt water pool, private cabanas, fire pits, lawn, 24-hour fitness center, conference center, 24-hour coffee bar with concierge, bike storage, package lockers, and on-site valet dry cleaning. 

Texas logoThe Real Estate Center​​​​ has more information like this online for free:

​Source: Connect Media

Connect Media
Houston-The Woodlands-Sugar Land
Multifamily
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112K-sf CoffeeTech HQ brewing in Seguin 112K-sf CoffeeTech HQ brewing in Seguin https://www.recenter.tamu.edu/news/newstalk-texas/?Item=245712020-07-10T05:00:00Z2020-07-10T15:00:00Z

​SEGUIN – CoffeeTech Industries is developing its 112,000-sf headquarters and manufacturing facility on 33 acres so​uth of I-10 between 8th and Guadalupe Streets. 

Construction will begin late this year and wrap up by 2022. 

The $56 million project will create 91 jobs. 

Texas logoGet more San Antonio industrial news on the Real Estate Center's website:

​Source: San Antonio Business Journal

San Antonio Business Journal
San Antonio-New Braunfels
Industrial
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40K-sf senior-living community coming to Pflugerville 40K-sf senior-living community coming to Pflugerville https://www.recenter.tamu.edu/news/newstalk-texas/?Item=245722020-07-10T05:00:00Z2020-07-10T15:00:00Z

PFLUGERVILLE – Heritage Lakes Development is building Heritage Lakes of Pflugerville, a 40,000-sf senior-living community at 19100 Pleasant Bay Dr.

The project will have assisted-living, memory-care, and independent-living residences as well as cottages. 

Amenities will include a fitness center, theater, beauty and barber shop, library, pool, game rooms, and walking trails. 

The community opens this fall.

texaslogo.pngLooking for more Austin-Round Rock senior living news? The Real Estate Center's got you covered. ​

Source: Connect Media
Connect Media
Austin-Round Rock
Senior Living
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Partnership acquires 556 acres for Fort Worth industrial park Partnership acquires 556 acres for Fort Worth industrial park https://www.recenter.tamu.edu/news/newstalk-texas/?Item=245732020-07-10T05:00:00Z2020-07-10T15:00:00Z

​​FORT WORTH – A partnership between Clarion Partners, Crow Holdings Capital, and Rob Riner Cos. has acquired 556 acres at the southeast corner of Oak Grove and Joel East Roads.

The site will be home to Carter Park East, a seven million-sf industrial park. It will have both speculative and built-to-suit structures accommodating tenants needing up to 1.8 million sf. 

Stream Realty Partners is handli​​ng leasing.

Construction begins this month. The first speculative buildings will deliver in summer 2021. 

Texas logoThe Real Estate Center has more on DFW's industrial market:

REBUSINESS
Dallas-Fort Worth-Arlington
Industrial
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Colliers: Houston office market weakens in 2Q2020Colliers: Houston office market weakens in 2Q2020https://www.recenter.tamu.edu/news/newstalk-texas/?Item=245682020-07-10T05:00:00Z2020-07-10T14:00:00Z

​​2Q2020 office market info houston

HOUSTON – ​The local office market weakened over the second quarter and will likely not see much short-term improvement, according to Colliers International. 

Market-wide office vacancy hit 20.5 percent last quarter, up from 20.1 percent in 1Q2020 and 19​.9 percent in 2Q2019. This increase in the vacancy rate was caused by net negative absorption of 513,316 sf and the delivery of 454,523 sf of new product. 

Houston’s office leasing activity fell 35 percent over the quarter from 4.5 million sf to 2.9 million sf primarily due to the stay-at-home orders in response to the COVID-19 pandemic. 

Local sales volume decreased significantly over the quarter from $462 million in the first quarter to $74 million in the second. 

Currently, there is 4.3 million sf of office space under construction that is 64 percent preleased. 

Asking rents were relatively flat from the previous quarter and the second quarter last year. Downtown Class A asking rents saw the biggest decline, falling $1.80 from last year to $43.84 per sf. 

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

​Source: Colliers Internati​onal

Colliers International
Houston-The Woodlands-Sugar Land
Office
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Read all about it: Statesman leases 35K-sf in South Austin Read all about it: Statesman leases 35K-sf in South Austin https://www.recenter.tamu.edu/news/newstalk-texas/?Item=245642020-07-09T05:00:00Z2020-07-09T17:00:00Z

AUSTIN – The Austin American-Statesman has leased 35,000 sf in the MetCenter Creative Office Building A at 80​00 Metropolis Dr. 

The newspaper publisher will move out of its prime​ location at S. Congress Ave. around mid-2021 to make way for redevelopment

Texas logoThe Real Estate Center has more office news for Austin-Round Rock:

Austin Business Journal
Austin-Round Rock
Office
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First National Bank Tower redevelopment almost completeFirst National Bank Tower redevelopment almost completehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=245652020-07-09T05:00:00Z2020-07-09T17:00:00Z

DALLAS – Todd Interests is almost finished redeveloping the former First National Bank Tower in downtown into a 219-room Hyatt Thompson hotel.

It will have two rooftop restaurant and bar concepts, a pool, fitness center, spa and pet parks, and 22,000 sf of meeting and event space. 

Opening is set for November 2020.

Texas logoGet more Dallas hotel news​ on the Real Estate Center's website.

REBUSINESS
Dallas-Fort Worth-Arlington
Hotel
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Sandman Signature Hotel underway at Star ParkSandman Signature Hotel underway at Star Parkhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=245662020-07-09T05:00:00Z2020-07-09T17:00:00Z

IRVING – Northland Properties Corp. plans to build the Sandman Signature Hotel on SH 161 near Carpenter Fwy.

The 205-room, six-story hotel will have a 6,788 sf, 224‐seat Moxie’s Grill restaurant with an outdoor patio.​

It will be part of Blue Star Land's 36-acre Star Park mixed-use development.

Texas logoGet more Dallas hotel news​ on the Real Estate Center's website.

Dallas Morning News
Dallas-Fort Worth-Arlington
Hotel
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Tricon Precast inks 98K-sf industrial lease near downtown DallasTricon Precast inks 98K-sf industrial lease near downtown Dallashttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=245672020-07-09T05:00:00Z2020-07-09T17:00:00Z

​DALLAS – Tricon Precast has signed a 98,259-sf industrial lease at 5200 E. Grand Ave.

The 109,108-sf warehouse has 19-ft clear heights and 200 parking spaces. 

Holt Lunsford Commercial represented the landlord, HLC Investments. Laughlin Commercial Realty Group represented the tenant.

Texas logoThe Real Estate Center has more on DFW's industrial market:

REBUSINESS
Dallas-Fort Worth-Arlington
Industrial
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Brownsville Doctors Hospital soldBrownsville Doctors Hospital soldhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=245602020-07-09T05:00:00Z2020-07-09T16:00:00Z

BROWNSVILLE – ​​Boston-based Capital Crossing has sold the Brownsville Doctors Hospital.

The three-story, 79,296-sf vacant hospital is on five acres at 4750 N. Expy. It was licensed for 56 beds. 

Originally built as a one-story facility in 2001, it was expanded in 2008 with an additional two stories and free-standing wound center. 

CBRE arranged the sale. ​

Texas logoThe Real Estate Center has more RGV news you may find interesting:

​​Source: CBRE

CBRE
Brownsville-Harlingen
Medical
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Houston home sales return to typical levels . . . for nowHouston home sales return to typical levels . . . for nowhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=245612020-07-09T05:00:00Z2020-07-09T16:00:00Z

​​HOUSTON – ​​An increase of homes going under contract in May after COVID-19-related stay-at-home orders expired led to a surge of closings in June. This drove home sales volumes back up to more typical summertime levels and even beyond 2019’s record pace.

However, renewed coronavirus concerns, stemming from a spike in cases across the metro and the state, may bring this sense of normalcy to an end by the fall. 

According to the Houston Association of Realtors, 9,328 single-family homes sold in June compared with 8,063 a year earlier. That translated to a 15.7 percent jump, a strong rebound from two straight months of declines brought on by coronavirus and ongoing strains in the energy industry. 

The single-family home median price increased 3.6 percent to a historic high of $262,000. The average price dipped less than one percent to $319,881. 

Sales of all property types totaled 11,153, up 18.3 percent from June 2019. Total dollar volume for the month increased 15.1 percent to $3.3 billion. 

June leases of single-family homes surged 15.3 percent year over ​year. However, leases of townhomes and condominiums were flat. 

The average rent for single-family homes was down 1​ percent to $1,906 while the average rent for townhomes and condominiums rose 7.9 percent to $1,731.

texaslogo.pngThe Real Estate Center has more information on housing:​
Houston Association of Realtors
Houston-The Woodlands-Sugar Land
Housing
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Compass Rose Legacy campus relocating in Brooks expansionCompass Rose Legacy campus relocating in Brooks expansionhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=245622020-07-09T05:00:00Z2020-07-09T16:00:00Z

SAN ANTONIO – The Compass Rose Legacy charter school is expanding its campus within the Brooks mixed-use community.

Compass Rose will relocate to 70,000 sf at 3300 Sidney Brooks. 

The school will remodel the building for its use, with the first floor complete by August 17. 

Texas logoThe Real Estate Center​​​​ has more San Antonio education news​ online for free. 

​Source: Connect Media

Connect Media
San Antonio-New Braunfels
Education
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Affordable senior housing project coming to North Austin Affordable senior housing project coming to North Austin https://www.recenter.tamu.edu/news/newstalk-texas/?Item=245632020-07-09T05:00:00Z2020-07-09T16:00:00Z

AUSTIN – A partnership between Generation Housing Development, Hill Tide Partners, and the Austin Affordable Housing Corp. is developing Heritage Estates at Owen Tech.

The 174-unit affordable housing project will be on five acres at 14011 Owen Tech Blvd. 

It will have one- and two-bedroom units, the majority of which will be reserved for renters earning u​p to 60 percent of the area's median income. About 10 percent of the units will be reserved for renters earning up to 40 percent. 

Construction will be complete by early 2022. 

Keybank provided $20 million in Freddie Mac financing for the project. 

texaslogo.pngLooking for more Austin-Round Rock senior living news? The Real Estate Center's got you covered. ​

REBUSINESS
Austin-Round Rock
Senior Living
Read more at {Source}
Partnership building lakefront hotel and conference center Partnership building lakefront hotel and conference center https://www.recenter.tamu.edu/news/newstalk-texas/?Item=245582020-07-08T05:00:00Z2020-07-08T20:00:00Z

​​​​MARBLE FALLS – The city, the Marble Falls Economic Development Corporation, and Boerne-based Phoenix Hospitality Group are developing a full-service hotel and conference center at the south end of Main St. 

The hotel will have 120 guest rooms; 21,000 sf of conference, event, and ballroom space; a lakefront restaurant and bar; and rooftop venue. 

Texas logoGet more Austin hotel news​​ on the Real Estate Center's website.

​Source: Connect Media​
Connect Media
Austin-Round Rock
Hotel
Read more at {Source}
118-room WoodSpring Suites opens in Georgetown118-room WoodSpring Suites opens in Georgetownhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=245592020-07-08T05:00:00Z2020-07-08T20:00:00Z

​​GEORGETOWN – WoodSpring Suites has opened a 118-room hotel at 904 Rockmoor Dr. 

Amenities include a fitness center, laundry facility, and free WiFi.

Texas logoGet more Austin hotel news​​ on the Real Estate Center's website.

Community Impact Newspaper
Austin-Round Rock
Hotel
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Tenant taking 78K sf in new Star Business Park buildingTenant taking 78K sf in new Star Business Park buildinghttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=245542020-07-08T05:00:00Z2020-07-08T19:00:00Z

​​FRISCO – GEA Group is leasing 78,000 sf of industrial space in the Star Commerce Center II building.

The industrial building at 16005 Gateway Dr. is a new addition to Star Business Park. 

Outfitting the building for fall 2020 occupancy will cost $3.2 million.

Alliance Architects is designing the project. Lincoln Property brokered the lease.

Texas logoThe Real Estate Center has more on DFW's industrial market:


Dallas Morning News
Dallas-Fort Worth-Arlington
Industrial
Read more at {Source}
$111M expansion underway at Westminster senior community $111M expansion underway at Westminster senior community https://www.recenter.tamu.edu/news/newstalk-texas/?Item=245552020-07-08T05:00:00Z2020-07-08T19:00:00Z

​AUSTIN – LCS is expanding Westminster, a 9.3-acre senior living community at 4100 Jackson Ave. 

The expansion will add two five-story buildings. ​

The first will deliver 43 independent-living apartments, 38 memory-care units, 36 assisted-livi​ng units, dining options, parking, and amenity areas. 

The second will include a fitness center, physical therapy space, salon, clinic, 15 underground parking spaces, and 18 independent-living apartments. 

Ziegler arranged $110.9 million in financing for the project. ​​

texaslogo.pngLooking for more Austin-Round Rock senior living news? The Real Estate Center's got you covered. ​

REBUSINESS
Austin-Round Rock
Senior Living
Read more at {Source}
233-unit Simple Self Storage trades hands233-unit Simple Self Storage trades handshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=245562020-07-08T05:00:00Z2020-07-08T19:00:00Z

​​WACO – Simple Self Storage, a 233-unit self-storage facility at 2172 E. Loop 340, has been sold. 

Built in 2017, the 24,740-sf facility off​ers units ranging from 25 to 200 sf. 

The site also include​s two acres for future expansion. 

Marcus & Millichap arranged the transaction. 

Texas logoIf you're looking for more news like this, head to the Center's website.

REBUSINESS
Waco
Retail
Read more at {Source}
Carlisle Port Arthur LP sells 27K-sf industrial building Carlisle Port Arthur LP sells 27K-sf industrial building https://www.recenter.tamu.edu/news/newstalk-texas/?Item=245572020-07-08T05:00:00Z2020-07-08T19:00:00Z

​​​PORT ARTHUR – Carlisle Port Arthur LP has sold a 26,504-sf industrial building about six miles from the port.

Built on 10.3 acres, the prop​erty has 18-ft clear heights and a 26 percent office finish. 

Lee & Associates brokered the sale. 

Texas logoIf you're looking for more news like this, head to the Center's website.

​Source: REBusiness Online
REBUSINESS
Beaumont-Port Arthur
Industrial
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