{{titleBar.title}}

{{titleBar.tagline}}

 

 

2021 Texas rural land market ‘explosion’ brings record high prices2021 Texas rural land market ‘explosion’ brings record high priceshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=259112021-05-11T05:00:00Z2021-05-11T22:00:00Z

​​​COLLEGE STATION – Booming countryside sales that marked the third and fourth quarters of last year were just a prelude to what’s happened so far in 2021.

"In the aftermath of the COVID-induced economic lockdown, 2021 Texas rural land markets have exploded in a burst of activity," said Dr. Charles Gilliland, research economist and rural land expert for the Texas Real Estate Research Center at Texas A&M University.

"First quarter 2021 sales of large acreage rural properties grew more than 50 percent in West Texas and 37 percent statewide compared to 2020," said Gilliland. "First quarter activity exceeded the remarkable levels seen in the third and fourth quarter of 2020 in most areas.

"This vigorous demand has sent the statewide price 9.5 percent higher than 2020 prices to a record high at $3,251 per acre. This unprecedented sales volume confirms reports of buyers flocking to rural environments during these uncertain times."

In first quarter 2021, the Texas rural land industry posted a record annualized total dollar volume of $1.99 billion, up more than 38 percent with 612,699 acres changing hands.

"These developments mark one of the most active times in the history of Texas land markets as urban-based buyers seek out rural retreats," said Gilliland. "The pandemic-inspired lockdown prompted a growing number of individuals to review their lives and seek out a more relaxed mode of living.

"Anecdotal reports from market participants have pointed to a desire to escape the problems faced by cities mired in political and social unrest. In addition, some buyers seem to be concerned about governments' ability to sustain its debt burdens."

Sales by region

Activity in West Texas expanded driving dollar volume up 103.97 percent with the number of sales up 53.28 percent. In the Gulf Coast-Brazos Bottom and Austin-Waco-Hill Country regions, the number of transactions increased 48.34 and 39.81 percent, respectively.

The Northeast region grew 31.60 percent in sales volume. Even the Panhandle and South Plains had a sales increase of 17.76 percent. Bucking this trend, Far West Texas sustained a sizable drop in activity, retreating 22.61 percent due to a sudden halt in purchases from the oil and gas industry.

Prices by region

The uptick in demand began to incite price increases with the Northeast region’s prices rising 12.11 percent to $5,423 per acre. Prices in the Gulf Coast-Brazos Bottom followed suit, increasing 11.22 percent to $7,069 per acre.

In Central Texas, Austin-Waco-Hill Country prices rose 7.07 percent to $4,424 per acre. The abundance of West Texas sales saw regional prices grow by a modest 2.9 percent to $1,702.

South Texas prices remained steady, retreating 0.35 percent to $3,950 per acre. Although volume expanded in the Panhandle and South Plains region, prices retreated, falling 4.68 percent to $1,120 per acre. The Far West Texas region did not register enough sales to provide an accurate indication of price dynamics there.

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

Source: Texas Real Estate Research Center
Texas Real Estate Research Center
Texas
Land
Read more at {Source}
Fore! Golf venue planned for Katy GrandFore! Golf venue planned for Katy Grandhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=259122021-05-11T05:00:00Z2021-05-11T22:00:00Z

​​​​HOUSTON – Florida-based PopStroke Entertainment Group is opening a new golf venue at Katy Grand.

The project will have two 18-hole mini-golf courses designed​ by TGR Design. The concept will have a full-service restaurant and bar, ice cream parlor, outdoor games, and playground.

Opening is set for summer 2022.

Katy Grand is a Cinemark-anchored retail power center at the northeast corner of I-10 and the Grand Pkwy. 

Project owner NewQuest was represented internally in lease negotiations. ​​

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

​Source: R​EBusiness Online

REBUSINESS
Houston-The Woodlands-Sugar Land
Retail
Read more at {Source}
279-unit multifamily breaks ground in Dallas’ Bishop Arts District279-unit multifamily breaks ground in Dallas’ Bishop Arts Districthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=259082021-05-11T05:00:00Z2021-05-11T21:00:00Z

​​DALLAS – Banyan Resi​dential has broken ground on Banyan Beckley, a 279-unit multifamily complex at 1710 N.​ Beckley Ave.

Designed by JHP, the five-story community will offer micro-units, studios, and one-, two-, and three-bedroom residences. ​​

Amenities include a pool, multi-purpose clubhouse, rooftop deck, and mobile workspace areas.

Banyan Beckley is being developed in collaboration with Milhaus. Construction financing was provide​d by Hillcrest Bank.

Completion is set for 2023. 

Texas logoThe Texas Real Estate Research Center​​​​ has more multifamily news online for free:

​Source: MultifamilyBiz

MultifamilyBiz.com
Dallas-Fort Worth-Arlington
Multifamily
Read more at {Source}
69 acres in El Paso becoming industrial park69 acres in El Paso becoming industrial parkhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=259102021-05-11T05:00:00Z2021-05-11T21:00:00Z

​​​​EL PASO – Stonelake Capital Partners LLC has purchased 69 acres off I-10 at Eastlake Blvd., adjacent to Amazon's new fulfillment center. 

The site will be home to a 1.1 million-sf spec industrial project called Eastlake Logistics Park. 

Work will start on the first industrial building in fourth quarter 2021. First delivery is set for third quarter 2022. 

CBRE will handle leasing.

Texas logoThe Texas Real Estate Research Center has more news like this:

Austin Business Journal
El Paso
Industrial
Read more at {Source}
Local group building first professional office park in ConverseLocal group building first professional office park in Conversehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=259062021-05-11T05:00:00Z2021-05-11T20:00:00Z

​CONVERSE – A local development group is planning Converse Town Center, a 29,000-sf office park at the southeast corner of S. Seguin Rd. and Converse Center St.

The property will have four office buildings geared toward tenants such as dentists, doctors, accountants, real estate agents, and dry cleaners.

Construction begins late this summer. 

The project team includes WGA Consulting Engineers and Drash Contracting. 

Texas logoThe Texas Real Estate Research Center has more on San Antonio's office market:

San Antonio Business Journal
San Antonio-New Braunfels
Office
Read more at {Source}
Major renovations planned for 22-acre RV sales facilityMajor renovations planned for 22-acre RV sales facilityhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=259072021-05-11T05:00:00Z2021-05-11T20:00:00Z

​​​BUDA – RV Retailer LLC is renovating its 22-acre Camper Clinic II facility at 15855 S. I-35 Exit 220. 

The company will add two new facilities for Airstream and ExploreUSA. 

The project will double the staff to 90 people. 

Texas logoThe Texas Real Estate Research Center has more local commercial real estate news like this online:

Community Impact Newspaper
Austin-Round Rock
Retail
Read more at {Source}
Cousins Properties developing $147M office building in The DomainCousins Properties developing $147M office building in The Domainhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=258992021-05-10T05:00:00Z2021-05-10T15:00:00Z

​​AUSTIN – Cousins Properties is developing Domain 9, a 335,000-sf office building in The Domain. 

The $174 million building at 2904 Palm Way will have nine floors of office space above nine floors of parking and ground-floor office space. 

Construction begins in the second quarter and will be complete by mid-2023. 

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

REBUSINESS
Austin-Round Rock
Office
Read more at {Source}
Midway, GrayStreet working on Lone Star Brewery redevelopmentMidway, GrayStreet working on Lone Star Brewery redevelopmenthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=259002021-05-10T05:00:00Z2021-05-10T15:00:00Z

​​​SAN ANTONIO – Midway and GrayStreet Partners will​ break ground on the first phase of the Lone Star Brewery redevelopment in the fourth quarter. ​

The first phase will include:

  • 301 multifamily units; 

  • 1,187 parking spaces;

  • 133,729 sf of office space;

  • 5,914 sf of retail, food, and beverage space; and

  • 38,312 sf of commercial space.

Phase two will have:

  • 199 multifamily units; 

  • 1,560 parking spaces;

  • 186 hotel rooms; 

  • 225,323 sf of office space; 

  • 44,560 sf of retail, food, and beverage space; and 

  • 25,456 sf of market space. 

The third and final phase will include:
  • 782 multifamily units; 

  • 1,422 parking spaces; and 

  • 14,746 sf of retail, food, and beverage space. 

The development will be complete in 2030. 

Texas logoThe Texas Real Estate Research ​Center has more news like this:

San Antonio Business Journal
San Antonio-New Braunfels
Mixed-Use
Read more at {Source}
West Dallas industrial space soldWest Dallas industrial space soldhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=259012021-05-10T05:00:00Z2021-05-10T15:00:00Z

​​​DALLAS – Dogwood Industrial Properties has acquired Turnpike 3 and Turnpike 4, two industrial buildings totaling 600,000 sf.

The properties are at 2170-2180 and 2130​-2160 French Settlement Rd.

They were previously owned by Billingsley Company. 

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

Source: Holt Lunsford
Holt Lunsford Commercial
Dallas-Fort Worth-Arlington
Industrial
Read more at {Source}
Kalterra Capital Partners sells Waxahachie multifamilyKalterra Capital Partners sells Waxahachie multifamilyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=259022021-05-10T05:00:00Z2021-05-10T15:00:00Z

​​​WAXAHACHIE – Kalterra Capital Partners has sold Park Place, a 213-unit apartment community.

Built in 2019, the Class-A community is on 12 acres ​at 240 Park Place Blvd.

The property has one-, two-, and three-bedroom units, as well as a pool, fitness center, dog park, and courtyards. 

Premium Property USA partnered with Kalterra in the closing.

Texas logoThe Texas Real Estate Research Center​​​​ has more multifamily news online for free:

​Source: Fort Worth Inc.

Fort Worth Inc
Dallas-Fort Worth-Arlington
Multifamily
Read more at {Source}
Former Amerihome hotel getting new lifeFormer Amerihome hotel getting new lifehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=259032021-05-10T05:00:00Z2021-05-10T15:00:00Z

​​​​​​HOUSTON – The Siegel Group Nevada Inc. has acquired a former Amerihome Inn & Suites hotel. 

The three-story, 110,700-sf building was built in 1983. 

The new owner will renovate and rebrand the property under its Siegel Suites flagship hospitality brand, which has fully furnished apartment-style units with full kitchens. 

Texas logoGet more Houston-area hotel news​ on the Texas Real Estate Research Center's website.

​Source: REBusiness Online
REBUSINESS
Houston-The Woodlands-Sugar Land
Hotel
Read more at {Source}
Richmond self-storage project trades handsRichmond self-storage project trades handshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=259042021-05-10T05:00:00Z2021-05-10T15:00:00Z

​​RICHMOND – HPI Real Estate, in conjunction with Naples, Fla.-based Extra Space Storage, has acquired a 745-unit self-storage facility.

The asset at 10535 Mas​on Rd. spans 93,620 net rentable sf. It was more than 95 percent occupied at the time of sale. 

Extra Space Storage manages and operates the facility.​​​

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

​Source: R​EBusiness Online

REBUSINESS
Houston-The Woodlands-Sugar Land
Retail
Read more at {Source}
Zekelman Industries acquires 240 acres north of Tesla factoryZekelman Industries acquires 240 acres north of Tesla factoryhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=259052021-05-10T05:00:00Z2021-05-10T15:00:00Z

​AUSTIN – Zekelman Industries has purchased 240 acres along SH 130, a few miles from Tesla’s gigafactory in eastern Travis County. 

Zekelman began acquiri​ng land in December. The latest purchase was for 127 acres from an entity of Sabot Development Ltd. 

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

Austin Business Journal
Austin-Round Rock
Land
Read more at {Source}
Exhibit Hall & Collections Building slated for downtown SA Exhibit Hall & Collections Building slated for downtown SA https://www.recenter.tamu.edu/news/newstalk-texas/?Item=258982021-05-07T05:00:00Z2021-05-07T16:00:00Z

SAN ANTONIO – The Alamo Trust is developing the Exhibit Hall & Collection Building, a 24,000-sf building at the northeast corner of the Alamo Complex. 

The two-story facility will have interactive exhibits, gallery space, and the entire Alamo and Phil Collins collections.

Construction begins this summer. ​​

Texas logoThe Texas Real Estate Research Center​​​​ has more San Antonio real estate news​ online for free. 

​Source:​ San Antonio Business Journal​

San Antonio Business Journal
San Antonio-New Braunfels
Public Facilities
Read more at {Source}
Decline in Texas' initial jobless claims continues Decline in Texas' initial jobless claims continues https://www.recenter.tamu.edu/news/newstalk-texas/?Item=258932021-05-07T05:00:00Z2021-05-07T15:00:00Z

​​​​​​​​​​​​​​​​​​​​​​COLLEGE STATION – Initial jobless claims in Texas decreased to​​​​ 29,000 the week ending May 1, m​arking five straight weeks of declines.

​​About 5.05 ​​million unemplo​​yment cla​ims have​​​ been filed since​ March 21, 2020, according ​to U.S. Department​ of Labor (DOL) data. 

Continuing unemployment claims decreased ​to​ 255,400 the week ending April 24, recording ​the lowest level since the pandemic and two straight weeks of declines.

"Despite the decreases, levels of both initial and continuing claims still remain around 1.7 and 1.6 times higher, respectively, than their pre-COVID-19 levels," said Dr. Luis Torres, a research economist for the Texas Real Estate Research Center. 

"Anecdotal evidence from service sector businesses point toward the lack of available applicants and generous unemployment benefits as major impediments in rehiring workers," said Torres.​

The number of workers receiving benefits through the pandemic unemployment assistance program, which is open to gig workers and others who don’t typically receive benefits, decreased the week ending May 1​.​​​​

​Last week, U.S. initial claims decreased to 498,200, the lowest level of the pandemic. This brings the 59-week total to 81.3​ million. 

Fewer people in all of Texas' major and border metros filed new unemployment claims the week ending April 24. This marks three straight weeks of declines.

Using data from the DOL and the Employment and Training Administration, the Center has estimate d unemployment claims for Texas' major and border metros since March 21, 2020:

  • Houston-The Woodlands-Sugar Land, 1.19 million claims;

  • Dallas-Fort Worth-Arlington, 1.15 million claims;

  • San Antonio-New Braunfels, 350,700 claims;

  • Austin-Round Rock, 296,500 claims;

  • McAllen-Edinburg-Mission, 138,700 claims;

  • El Paso, 120,400 claims;

  • Brownsville-Harlingen, 61,200 claims; and

  • Laredo, 34,700 claims. ​​

"Increasing vaccination rates should lead to a faster recovery in the leisure and hospitality sector, possibly creating a wave of hiring that would allow thousands of laid-off workers to find jobs," said Torres.

Retail registered the highest number of initial claims the week ending April 24. The sector was followed by administrative/support/waste management/remediation services, healthcare and social assistance services, and construction. 

Texas logoThe Texas Real Estate Research Center has a wealth of economic information online for free.
​​Source: Texas Real Estate Research ​Center​​​​​​​​​
Texas Real Estate Research Center
Texas
Employment
Read more at {Source}
Caterpillar Inc. blossoming in new office at Williams SquareCaterpillar Inc. blossoming in new office at Williams Squarehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=258942021-05-07T05:00:00Z2021-05-07T15:00:00Z

​​​IRVING – Caterpillar Inc. is opening a regional office at​ Williams Square, a 1.4 million-sf office campus.

The tenant will occupy ​multiple floors at Williams Square West Tower by early 2022. 

Cushman & Wakefield represented Caterpillar. The landlord, a partnership between Ap​ollo Global Real Estate, Vanderbilt Partners, and Hillwood Urban, was internally represented. ​​

Texas logoThe Texas Real Estate Research​ Center has more on DFW real estate news:

REBUSINESS
Dallas-Fort Worth-Arlington
Office
Read more at {Source}
California firm bags 323K-sf Dallas office buildingCalifornia firm bags 323K-sf Dallas office buildinghttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=258952021-05-07T05:00:00Z2021-05-07T15:00:00Z

​DALLAS – Fenway Capital Advisors has acquired Campbell Centre, a 322,283-sf office building at 8150-8350 N. Central Expy. 

The 20-story property was originally built in 1978 and was renovated in 1999 and 2009. 

Amenities include a 6,000-sf fitness center, 70-seat conference facility, deli, and tenant lounge. 

Fenway will modernize the building's interior.​

Texas logoThe Texas Real Estate Research​ Center has more on DFW real estate news:

REBUSINESS
Dallas-Fort Worth-Arlington
Office
Read more at {Source}
38K-sf industrial flex property trades hands 38K-sf industrial flex property trades hands https://www.recenter.tamu.edu/news/newstalk-texas/?Item=258962021-05-07T05:00:00Z2021-05-07T15:00:00Z

​​ROUND ROCK – A 38,024-sf industrial flex property at 1700 Royston Lane has traded hands. 

NorthMarq arranged a $5 million acquisiti​on loan on behalf of the borrower.

At the time of the loan closing, the property was fully leased to two medical and diagnostic lab users.​​​

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

    REBUSINESS
    Austin-Round Rock
    Industrial
    Read more at {Source}
    Work starts on Tomball medical centerWork starts on Tomball medical centerhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=258972021-05-07T05:00:00Z2021-05-07T15:00:00Z

    ​​​TOMBALL – General contractor Arch-Con Corporation has broken ground on the first phase of the Medical Center of Tomball at 155 School St.

    ​Phase I is a three-story, 64,395-sf medical office building. The project is 97 percent preleased.​

    The project is developed by Bryant + Stacy Group in collaboration with Global Healthcare Partners.

    Browne McGregor Architects designed the building.​

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

    ​Source: Realty News Report​

    Realty News Report
    Houston-The Woodlands-Sugar Land
    Medical
    Read more at {Source}
    New Topgolf hits WacoNew Topgolf hits Wacohttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=258912021-05-06T05:00:00Z2021-05-06T19:00:00Z

    ​​​WACO – Topgolf has completed its latest location at 2301 Creekview Dr. 

    The complex features a nine-hole miniature course, relaxation area with TVs, cornhole courts, and 30 climate-controlled hitting bays. 

    Texas logoGet more Waco-area real estate news on the Texas Real Estate Research Center's website:

    ​Source: Waco Tribune-Herald

    Waco Tribune-Herald
    Waco
    Retail
    Read more at {Source}

     Search NewsTalk Texas