Top 50 office leases by industry 2016Top 50 office leases by industry 2016https://www.recenter.tamu.edu/news/newstalk-texas/?Item=158682017-02-22T06:00:00Z2017-02-22T23:00:00Z

​​​DALLAS-FORT WORTH – DFW had a big year for leases last year—especially in the tech industry, which grew 333 percent year-over-year—with a variety of leases landing in nearly every category, according to CBRE research​.

The top 50 office leases signed in the region were well distributed between business services, retail, technology, insurance and financial services, which marks the region as quite diverse.

Technology dominated the leasing activity in 2016, with a 333 percent growth in industry-specific leases. 

By excluding any single-tenant building or government agency, the largest lease signed last year for 193,725 sf of space at 14675 Dallas Pkwy. 

Here's a look at some of the top five deals to land in North Texas:
  • ​Mortgage Contracting Services LLC (business services) for 120,000 sf at 350 Highland Dr., Lewisville;

  • ​FedEx Corporate Services Inc. (business services) for 110,628 sf at 4200 Regent Blvd., Irving;

  • MultiView (creative) for 110,000 sf at 7701 Las Colinas Ridge, Irving; and

  • Atos SE (technology) for 101,000 sf at 4851 Regent Blvd., Irving​​.​

Dallas Business Journal
Dallas-Fort Worth-Arlington

​Want​ more data? See Dallas Office Market Research, Houston Office Market Research​, and ​​Austin Office Market Research.

Read more at the {Source}
Construction 'digs' to GeorgetownConstruction 'digs' to Georgetownhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=156592017-02-22T06:00:00Z2017-02-22T23:00:00Z

​​​​​​​​GEORGETOWN – Lured in part by city incentives, HOLT CAT will open a construction equipment sales and service center in Georgetown for Caterpillar Inc. machinery. 

The $20 million facility will occupy 60,000 sf at 2101 Airport Rd. near I-35 in Georgetown—a town about 35 miles north of downtown Austin.

After it opens in 2018, the facility is expected to generate at least $27.5 million in sales per year over the next five years.

The company will need heavy-equipment mechanics plus administrative support. 
San Antonio Business Journal
Austin-Round Rock

​Want more data? See Austin Industrial Market Research.

Read more at the {Source}
$15M march to Waterloo Park $15M march to Waterloo Park https://www.recenter.tamu.edu/news/newstalk-texas/?Item=158582017-02-22T06:00:00Z2017-02-22T22:45:00Z

​​​​​AUSTIN – ​A $15 million grant will fund a dramatic makeover of Waterloo Park, bringing new energy to a sleepy corner of downtown Austin.

The money to improve the park—​​including the addition of an amphitheater and great lawn that can accommodate up to 5,000 people—comes from the Moody Foundation​.

Aside from the Moody Amphitheater and great lawn, the revamped Waterloo Park will also feature a mile and a half of trails, gardens and play spaces, among other features.​​

Work on Waterloo Park—a key part of a much larger effort to remake downtown’s Waller Creek from Lady Bird Lake to the UT campus—will kick off this year and should be completed by 2019, the Waller Creek Conservancy said.​

Austin American-Statesman
Austin-Round Rock
Public Facilities
http://www.mystatesman.com/news/local/million-grant-fund-waterloo-park-makeover-new-amphitheater/3TgXjDUl9TC4VLhKqd0rXO/Read more at the {Source}
Abilene buyers may need extra closet spaceAbilene buyers may need extra closet spacehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=158822017-02-22T06:00:00Z2017-02-22T22:40:00Z

​​​​​ABILENE – Burlington Stores announced that it will open a 40,000-sf store in spring 2018.

The new Burlington will be near South Clack St. and Village Dr. 

This opening will bring approximately 50–100 new jobs to the community and will be one of 67 Burlington locations in Texas. 

This winter, interested candidates can visit Burlington’s website for more information about employment opportunities.​
Abilene Reporter-News

​Want more​ data? See Abilene Market Research. 

Source: {Source}
On the shores of... Pedernales RiverOn the shores of... Pedernales Riverhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=158412017-02-22T06:00:00Z2017-02-22T22:00:00Z

TRAVIS COUNTY – The Travis County Commissioners Court has approved Blakefield LLC’s plans to develop Thomas Ranch, a 2,200-acre master-planned community off Hwy. 71 and Paleface Ranch Rd. in Western Travis County near Austin. 

The community will be situated around the shoreline along the Pedernales River.

Thomas Ranch will include approximately 3,300 single-family homes; apartments; a marketplace of shops, entertainment venues and restaurants; a resort hotel and spa; a town square; and community gardens.

Construction on the community’s infrastructure is scheduled to begin in 2018, with single-family homes following in 2019. 

​​Each section will be built in four to five phases over the course of 15 to 20 years, according to the developers.​

Austin-Round Rock

​W​ant to know more? Check out Austin-Round Rock Housing Market Research. ​​​

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$85M spred across 1,600 units in five cities$85M spred across 1,600 units in five citieshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=158492017-02-22T06:00:00Z2017-02-22T22:00:00Z

​DALLAS, GARLAND, MESQUITE, FORT WORTH, AND TYLER​ – Tranwestern has brokered five sales of properties totalling 1,600 multifamily units valued at $85 million.

In the first deal, a New York-based investment group acquired North Park Terrace, a 310-unit property located at 8662 Park Lane in Dallas. 

Also sold was Pecan Tree, a 173-unit community located at 3001 Kendale Dr. in Dallas.

In the second transaction, an Oregon-based investment group purchased Eastfield Plaza, a 216-unit community located at 2626 John West Rd. in Mesquite.

The buyer plans to renovate the property.

In the third deal, a New York-based investment group acquired Parque Del Sol, a 200-unit property located at 238 E. Oates Rd. in Garland.

In the fourth transaction, a Northern California-based investment group purchased Woods of Ridgmar, a 235-unit community located at 2200 Taxco Rd. and 2200 Ridgmar Plaza in Fort Worth.

In the final deal, a Dallas-based investment group acquired 34 Hundred, a 484-unit complex located at 3400 Varsity Dr. in Tyler.

The buyer plans to renovate the property, which is located across the street from the University of Texas at Tyler.

Dallas-Fort Worth-Arlington
https://rebusinessonline.com/transwestern-arranges-sales-of-1600-multifamily-units-in-dallas-fort-worth-area-totaling-85m/Read more at {Source}
The concluding bottom line: Texas has 390 million of themThe concluding bottom line: Texas has 390 million of themhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=158462017-02-21T06:00:00Z2017-02-22T00:40:00Z

​​​TEXAS – The Wilson Center estimates that U.S. trade with Mexico alone supports more than 382,000 jobs in Texas—the state with the highest volume of U.S./Mexico trade.

Trade activities in Texas​​ influence approximately 234 million sf of industrial space, with an additional 160 million sf of Texas-based warehouse and distribution space for the flow of goods out-of-state according to CBRE's research method.

Demand for commercial industrial real estate originating from U.S./Mexico trade flows totals more than 390 million sf of net occupied Texas industrial space.

The passage of the North American Free Trade Agreement (NAFTA) of 1993 between the U.S., Mexico, and Canada created economic linkages that accelerated trade between the U.S. and Mexico.

In 2016, the state's population soared to nearly 28 million residents, a 55 percent increase since 1993 when NAFTA was passed.​

An interruption of U.S./Mexico international trade could directly:

  • affect up to 3.5 percent of total U.S. employment;
  • disrupt a significant driver of the U.S. GDP via exports; and
  • weaken occupancy and demand for 390 million sf of net occupied industrial space​.
https://assets.recenter.tamu.edu/Documents/MktResearch/Texas_Industrial_CBRE_MarketView.pdfSource: {Source}
Gravity-defying zip line, escape rooms swing to...Gravity-defying zip line, escape rooms swing to...https://www.recenter.tamu.edu/news/newstalk-texas/?Item=157622017-02-21T06:00:00Z2017-02-21T23:50:00Z

​​​​​​EDINBURG – ​An entertainment group, Cinergy Entertainment, has announced plans to build an entertainment complex projecting to create 375 new jobs in the Resaca Market​ at La Sienna​.

The size of the new 90,000-sf venue will include state-of-the-art and upscale facilities with interactive games and premium dining including:

  • ​ten state-of-the-art auditoriums, 
  • 18 lanes of upscale bowling,
  • two full-service bars, 
  • multiple escape rooms,
  • a fully-loaded game floor with more than 110 interactive games, redemption store, 
  • a multi-level laser tag arena, and
  • Skywalker with zip line (a gravity-defying, black light overhead ropes course).

It will also feature Cinergy's premium large-format auditorium, EPIC "Experience Perfection in Cinema."

A​ccording to the Edinburg EDC, the project will create 375 new jobs and $29 million in capital investment.​

“We know how fast Edinburg and ​​The Valley in general are growing,” said Cinergy co-founder Jamie Benson. 

“With all the other excitin​g tenants and yet-to-be-announced uses, the location in Resaca Market​ at La Sienna​ could not be any more ideal for a successful cinema entertainment center.”​​

Construction is expected to start in summer 2017 with a target opening of May 2018.

Valley Business Report

​​​See PRN Newswire​ for more.

Read more at the {Source}
2017 multifamily investment forecast2017 multifamily investment forecasthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=158752017-02-21T06:00:00Z2017-02-21T23:40:00Z

​UNITED STATES – ​​​​Marcus & Millichap has released their 2017 U.S. Multifamily Investment Forecast.

Below is an example of some of the Texas data from the report.​

See the two-page full listing of the U.S. Investment Forecast from Atlanta to West Palm Beach.​​

And see Marcus & Millichap's full report for more U.S. cities.

Marcus & Millichap Real Estate Investment Services
Houston-The Woodlands-Sugar Land
https://www.marcusmillichap.com/research/researchreports/reports/2017/01/17/multifamily-investment-forecastSee the full report at {Source}
How's your congestion?How's your congestion?https://www.recenter.tamu.edu/news/newstalk-texas/?Item=158772017-02-21T06:00:00Z2017-02-21T23:40:00Z

​​​​HOUSTON AREA – Houston drivers can't rejoice in much as they plod along crowded streets and highways, but just released data suggests congestion improved between 2015 and 2016 just enough for them to cook pizza rolls, maybe even microwave popcorn if they have a long commute.

In its latest annual ranking of congestion around the world, TomTom—which operates mapping and traffic software common in car navigation systems—found Houston traffic improved slightly last year from 2015.

TomTom also released the "Top 20​ Congested Cities in​ the U.S." as seen below.


Houston Chronicle
Houston-The Woodlands-Sugar Land
Infrastructure & Transportation
http://www.houstonchronicle.com/news/transportation/article/Houston-falls-in-new-congestion-ranking-10946041.phpSource: {Source}
Classic Car Center focus on Porsche historic vehiclesClassic Car Center focus on Porsche historic vehicleshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=158622017-02-21T06:00:00Z2017-02-21T23:35:00Z

​​​​​​​GRAPEVINE – Park Place Dealerships announced plans to build a two-story, 70,000-sf Porsche dealership. The five-acre site is located off Texan Trail and SH 114 near Park Place Motorcars and Park Place Lexus.

The project should start construction within the next 30 days​ and will be completed by spring 2018. 

The project will create more than 180 construction jobs and approximately 50 permanent jobs.

Park Place Porsche will have the capacity to feature 21 display vehicles on the showroom floors, including two classic display vehicles in a Porsche Classic Car Center that will be captivating to the Porsche enthusiast. 
The Classic Car Center will be the link between the old and the new, showcasing the heritage of Porsche and the future generation of the legendary brand. 

Park Place will be a select Porsche Classic Partner with an objective to assist clients in maintaining and caring for historic vehicles that have not been produced in standard production for at least ten years.

Park Place Porsche Grapevine will be only of nine dealerships in the nation built around the new Porsche prototype.
Fort Worth Business Press
Dallas-Fort Worth-Arlington

​Want more ​data? See DFW Retail Market Research. 

Read more at the {Source}
20 stories tell a tale20 stories tell a talehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=158672017-02-21T06:00:00Z2017-02-21T23:35:00Z

​​​SAN ANTONIO – Downtown San Antonio will soon get 20 stories of luxury hotel and condominium space.

The mixed hotel-condominium development will include a Thompson Hotel—with 167 rooms—and The Arts residence, a 66-unit luxury condominium.

The 337,000-sf mixed-use project is along the River Walk and will be located at 115 Lexington Ave. ​

​There will be a steep price-per-sf breakdown, with one-bedroom units as small as 735 sf, and a three-bedroom penthouse as large as 7,324 sf.

The price range for The Arts starts at $400,000 and goes up to as much as $5 million for one of the five penthouses.

The two-parcel site directly across from Tobin center will include a restaurant on the ground floor and a pool deck overlooking the river, as well as 6,900 sf of meeting space and a 3,600-sf ballroom.

The DC Partners and Universal Service Group partnership is moving toward a spring 2017 groundbreaking.

San Antonio Business Journal
San Antonio-New Braunfels
http://www.bizjournals.com/sanantonio/news/2017/02/17/the-numbers-behind-sas-future-20-story-high-rise.htmlRead the full article at the {Source}
Thanks a million, mega industrial warehouses!Thanks a million, mega industrial warehouses!https://www.recenter.tamu.edu/news/newstalk-texas/?Item=158232017-02-21T06:00:00Z2017-02-21T23:30:00Z

​​​​​​U.S. – The rapid growth of e-commerce has created a big trend in U.S. industrial markets: a proliferation of warehouses spanning 1 million sf or larger. 

Dallas-Fort Worth has seen the construction of 13 such facilities since 2010, making it one of the top three markets in the country for mega-warehouses. 

The massive warehouses and distribution centers have sprouted from Southern California to Philadelphia, clustering around metro areas that provide the mix of road, rail and sea access that e-commerce users covet, according to the new report from CBRE Group Inc. 
All told, 117 such facilities were built across the U.S. from 2010 to 2016 for a total of 141.2 million sf, which shows an increase from the 99 facilities built between 2003 and 2009.

The markets in which the most big-box construction occurred in the 2010–2016 timeframe are led by Philadelphia, California’s Inland Empire and Dallas-Fort Worth.

Dallas-Fort Worth-Arlington

​Wa​nt more data? ​​​See Industrial Market Research from a variety of sources for Dallas​, Austin, Houston and San Antonio.

Source: {Source}
Breaking down breakbulk: Texas ports offload $503BBreaking down breakbulk: Texas ports offload $503Bhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=156072017-02-21T06:00:00Z2017-02-21T23:20:00Z

​​​​TEXAS GULF COAST – Total global trade for Texas ports is estimated to be valued at more than $503 billion annually.

The Port of Houston ranks as the top breakbulk cargo port in the U.S., and the other Texas ports of Corpus Christi, Brownsville, Houston, Galveston, Freeport, Beaumont, and Port Arthur are also important to this highly specialized segment. 

Major breakbulk commodities for these Texas Gulf Coast ports include steel, forest products (wood pulp in particular), wind energy production components, and the many feedstocks and products related to the energy industry.

Unlike other land-constrained U.S. port markets, Texas ports have a significant contingent of land available for development—totaling 76,000 acres. 

Ports of Brownsville, Corpus Christi, Freeport and Houston have the most acreage available, which will ultimately lead to occupier demand.​

Container shipping is clearly the dominant form of shipping goods, so why do shippers prefer container vessels to breakbulk vessels?​​ ​​First, size matters; a large majority of breakbulk cargo is too large or unusually shaped to fit efficiently in a container.  ​

CBRE makes better sense of this full report here.
Houston-The Woodlands-Sugar Land
Infrastructure & Transportation

See Houston Economy Market Overview.​

Read more at {Source}
Beyond oil and gas: industrial vacancy, absorption, rent 4Q 2016Beyond oil and gas: industrial vacancy, absorption, rent 4Q 2016https://www.recenter.tamu.edu/news/newstalk-texas/?Item=157642017-02-21T06:00:00Z2017-02-21T22:20:00Z

​​​​​​​​​​HOUSTON – Newmark Grubb Knight Frank (NGKF) has released its fourth quarter 2016 industrial market report. 

The Houston industrial real estate market remained active through 4Q 2016, which marked over five straight years of overall vacancy at or below the current rate of 5.6 percent.

Concerning net absorption, almost 1.4 million sf was absorbed during the quarter.
Newmark Grubb Knight Frank
Houston-The Woodlands-Sugar Land

​​See Newmark Grubb Knight Frank (NGKF)​ Houston Quar​terly Industrial Market Report 4Q 2016 (PDF)​​.

Also check out more sources under the full page at​​ Houston Industrial Market Research. 

Source: {Source}
Mason Creek flowing to sleek suitesMason Creek flowing to sleek suiteshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=158592017-02-21T06:00:00Z2017-02-21T21:35:00Z

​​​​HOUSTON – Ross Perot Jr.'s Hillwood has acquired an industrial park in Houston, with plans to construct office suites to help lease up the four-building park.

The business park, called Mason Creek Business Center, totals 340,000 sf of Class A industrial park space in Houston's northwest submarket at the northeast corner of Mason Rd. and Park Row Dr. 

It sits less than two miles from I-10 and Grand Pkwy. 

There is 70,000 sf of vacancy currently in the park.

Mason Creek Business Center sits on 23.6 acres of land, with a truck court and a blend of office and warehouse space. The industrial park was developed 14 years ago.

Construction has already begun to ready office suites ranging from 15,000 sf to 75,000 sf.
Dallas Business Journal
Houston-The Woodlands-Sugar Land

​Want​ more data? See Houston Office and Industrial Research.

Read more at the {Source}
North Texas led nation in industrial space demand in fourth quarter 2016North Texas led nation in industrial space demand in fourth quarter 2016https://www.recenter.tamu.edu/news/newstalk-texas/?Item=158842017-02-21T06:00:00Z2017-02-21T18:00:00Z

​​DALLAS – A new report from Cushman & Wakefield shows the North Texas industrial market had 5.3 million sf of net absorption in fourth quarter 2016, leading the nation in demand for industrial space.

Overall, tenants absorbed nearly 23.7 million sf in North Texas last year—43.2 percent more than in 2015.​

Leasing activity totaled 31.5 million sf at the end of last year, 11.2 percent below the 2015 total.

Vacancy was down by 0.6 percentage points year-over-year to 6.9 percent.

Construction completions totaled nearly 22.4 million sf at the end of the year, 45.9 percent more than the same time the year before. 

Just under 17.1 million sf of new industrial space is in the pipeline. Of that, 86.8 percent is being built on spec.

Dallas-Fort Worth-Arlington
http://www.globest.com/sites/lisabrown/2017/02/16/dfw-leads-nation-in-demand-for-industrial-space/?channel=sectors&section=dallasfort-worthRead more at {Source}
TAR report: 2016 another good year for Texas home sales, pricesTAR report: 2016 another good year for Texas home sales, priceshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=158852017-02-21T06:00:00Z2017-02-21T18:00:00Z

​​​​AUSTIN – Texas home sales volume and home prices reached all-time highs for the second year in a row in 2016, according to the 2016 Texas Real Estate Year in Review Report released today by the Texas Association of Realtors.

Prices rose steadily throughout last year, with the median price increasing 7.7 percent from the previous year to $210,000.

During that time, sales volume increased 4.6 percent to 324,924 homes sold.

Real Estate Center Chief Economist Dr. Jim Gaines said the 2017 market is projected to keep pace with last year’s strong levels, but it may be difficult because of current housing supply levels.

"Household incomes are rising at a disproportionally lower rate than home prices, creating housing affordability challenges across the state," Gaines said. "In housing development, labor shortages and regulatory barriers are slowing construction and in turn, driving up new home prices.”

The state’s low housing inventory level remained consistent with 2015, ending at 3.3 months of inventory in December 2016.

Homes stayed on the market an average of 58 days, and active listings increased 6 percent from 2015 to 2016.​

Texas Association of REALTORS
https://www.texasrealestate.com/news-releases/release/texas-home-sales-prices-set-annual-records-for-second-year-in-a-rowRead more at {Source}
Sunridge Business Park warehouse soldSunridge Business Park warehouse soldhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=158862017-02-21T06:00:00Z2017-02-21T18:00:00Z​WILMER – Makita USA, a manufacturer of industrial power tools, has purchased a 227,230​-sf warehouse on 14.3 acres in Sunridge Business Park.

Scannell Properties built the spec building last year.

As part of the tax abatement agreement, Makita will hire 55 employees and expand the facility, adding some $28 million in new assessed value to the city.

Sunridge Business Park is on I-45 across from Union Pacific's 360-acre Intermodal terminal. Unilever, Osborn-Hessey, Sprouts, Ace Hardware, and Medline currently occupy over 2.6 million sf there.
Wilmer EDC
Dallas-Fort Worth-Arlington
Read more at {Source}
265K sf of Allen office space underway265K sf of Allen office space underwayhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=158792017-02-21T06:00:00Z2017-02-21T17:00:00Z​ALLEN – Two new office projects are in the works here, including a $47 million corporate headquarters building.

WatchGuard Video breaks ground this week on its 140,000-sf HQ project, which will be on the east side of US 75 on Allen Station Pkwy.

Meanwhile, Kazen Development Partners has already broken ground on a 125,000-sf office project in the Watters Creek development at Bethany Dr. and US 75.

The five-story One Bethany building was designed by BOKA Powell. Balfour Beatty Construction is the general contractor, and JLL is handling leasing.​

Both projects will be finished early next year.
Dallas Morning News
Dallas-Fort Worth-Arlington
http://www.dallasnews.com/business/real-estate/2017/02/20/two-office-projects-kicking-along-us-75-allenRead more at {Source}

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