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Nabors Drilling sells former 112K-sf campus Nabors Drilling sells former 112K-sf campus https://www.recenter.tamu.edu/news/newstalk-texas/?Item=237322020-01-21T06:00:00Z2020-01-23T00:00:00Z

​​​​​​​​​Aerial view of the property.HOUSTON – Rhone Brittmoore Logistics LP has purchased the former Nabors Drilling campus at 11330 Brittmoore Park Dr.

Situated on 7.9 acres, the property consists of 111,530 sf​ of industrial office and manufacturing space. 

NAI Partners will handle leasing. The team also represented the buyer in the transaction. 

Cushman & Wakefield represented the seller, Nabors Drilling Technologies USA​ Inc.

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

​Source: NAI Partners​

NAI Partners
Houston-The Woodlands-Sugar Land
Industrial
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New owner for 114K-sf York CentreNew owner for 114K-sf York Centrehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=237292020-01-17T06:00:00Z2020-01-23T00:00:00Z

​​​​​Image of the entrance to the parking lot which is surrounded by trees.HOUSTON – Interra York Centre LLC has purchased York Centre, a 114,474-sf office building at 10235 W. Little York Rd.

Built in 1982, the Class B asset is on 5.3 acres.

Colliers International represented the seller. The buyer was self-represented. ​​​​

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

​Source: REBusiness Online​

REBUSINESS
Houston-The Woodlands-Sugar Land
Office
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38K-sf industrial property on Wynnwood sold38K-sf industrial property on Wynnwood soldhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=237342020-01-21T06:00:00Z2020-01-22T23:30:00Z

​​​HOUSTON – A private investor has sold a 37,736-sf industrial building at 7200 Wynnwood Ln.

The 1.3-acre property was built in 1971 then renovated in 1979 and 1982.

Marcus & Millichap represented the seller.

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

​Source: REBusiness Online​

REBUSINESS
Houston-The Woodlands-Sugar Land
Industrial
Read more at {Source}
Redwood acquires 302K-sf Exterran campus Redwood acquires 302K-sf Exterran campus https://www.recenter.tamu.edu/news/newstalk-texas/?Item=237332020-01-21T06:00:00Z2020-01-22T23:00:00Z

​​Aerial view of the property.HOUSTON – Redwood Property Investors III LLC has purchased the former Exterran Energy Solutions campus at 12001 N. Houston Rosslyn Rd.

The nearly 32-acre campus consists of 301,127 sf of industrial office and manufacturing buildings. ​

NAI Partners represented the buyer, while JLL represented the seller, Exterran Energy Solutions L.P.

NAI will market the property.

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

​Source: NAI Partners​

NAI Partners
Houston-The Woodlands-Sugar Land
Industrial
Read more at {Source}
181K-sf Mesquite retail center changes hands181K-sf Mesquite retail center changes handshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=237352020-01-21T06:00:00Z2020-01-22T22:00:00Z

​​Marketplace at Towne CenterMESQUITE – Marketplace at Towne Center, a 180,522-sf retail center, has been sold.

The center is on about 20.5 acres at the northwest corner of US 80 and I-625.

Tenants include Kohl's, Home Depot, PetSmart, Ross Dress for Less, Old Navy, Dress Barn, Five Below, Famous Footwear, and Applebee's. 

JLL marketed the property on behalf of the seller, Retail Value Inc.

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

​Source: JLL
JLL
Dallas-Fort Worth-Arlington
Retail
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Elm at River Park construction underwayElm at River Park construction underwayhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=237362020-01-21T06:00:00Z2020-01-22T21:00:00Z

​​​The Elm at River Park renderingFORT WORTH – Embrey Partners will begin construction this month on The Elm at River Park.

The 293-unit property will offer a mix of one-, two-, and three-bedrooms with structured parking.

Amenities will include a pool, fitness center, dog park, and bike storage.

Embrey purchased the site, which is adjacent to The Shops at Clearfork on River Park Dr., in late December.

First occupancy is planned for summer 2021.

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

​Source: Fort Worth Business Press​

Fort Worth Business Press
Dallas-Fort Worth-Arlington
Multifamily
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LYND takes out $45M bridge loan for 645-unit portfolioLYND takes out $45M bridge loan for 645-unit portfoliohttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=237222020-01-16T06:00:00Z2020-01-22T20:00:00Z

Fairways 5, one of the properties in LYND's 645-unit multifamily portfolioSAN ANTONIO – The Lynd Co. is refinancing and renovating a 645-unit multifamily portfolio.

The properties are the:

  • ​​224-unit Auburn Creek at 411 Gardendale,

  • 205-unit Fairways 5 at 8710 Datapoint Dr., and

  • 216-unit Meadows Apartments at 14001 Oak Meadows.

Renovations will include new countertops, tile backsplashes, cabinets, plumbing fixtures, lighting fixtures, and appliances.

The owner secured a $45 million bridge loan for the project.​

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

​Source: Connect Media​

Connect Media
San Antonio-New Braunfels
Multifamily
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1.4M-sf P&G distribution center under new ownership1.4M-sf P&G distribution center under new ownershiphttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=237212020-01-16T06:00:00Z2020-01-22T19:00:00Z

​​​​The Procter & Gamble distribution center, front, and the Whirlpool shipping hub, behindWILMER – A unit of John Hancock Life Insurance Co. has acquired the 1.4-million-sf Procter & Gamble distribution center at 101 Mars Rd. near I-45.

Built in 2014, the hub is home to more than 500 workers for the consumer products firm.

Valued at more than $63 million, the building was developed by a partnership of Panattoni Development Co. and the California State Teachers Retirement System.​​​

Cushman & Wakefield brokered the sale. 

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

Source: Dallas Morning News​
Dallas Morning News
Dallas-Fort Worth-Arlington
Industrial
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364K-sf medical office tower slated for Museum District 364K-sf medical office tower slated for Museum District https://www.recenter.tamu.edu/news/newstalk-texas/?Item=237192020-01-16T06:00:00Z2020-01-22T02:00:00Z

​​​​​Rendering of the ten-story tower.HOUSTON – Katy-based Testa Rossa Properties LLC will soon begin construction on Museo Plaza, a mixed-use project in the Museum District. 

Phase one will feature a ten-story, 364,000-sf medical office tower at 5115 Fannin St. 

The $77 million tower will have five parking garage levels above the ground-floor lobby, which will include 16,000 rentable sf.

Floor plates will be nearly 35,000 sf to help accommodate the space requirements of medical service providers.

The building’s anchor tenant, The Mann Eye Institute, will occupy 37,000 sf on the top floor. 

Construction will begin in February and wrap up in first quarter 2022.

It was designed by PJMD Architects. Mission Constructors Inc. and CBRE are leasing the property. J.A. Billipp Co. and Skyhawk Partners are handling development managements. 

Texas logoThe Real Estate Center has more informati​on like this online:

Houston Business Journal
Houston-The Woodlands-Sugar Land
Mixed-Use
Read more at the {Source}
Tazz Enterprise hikes into Gander Mountain's old spaceTazz Enterprise hikes into Gander Mountain's old spacehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=237202020-01-16T06:00:00Z2020-01-22T01:00:00Z

​​​​​HOUSTON – Tazz Enterprise has purchased an 88,492-sf retail building formerly occupied by Gander Mountain at 19820 Hempstead Rd.

The Retail Connection represented the buyer, which plans to convert the building into a multi-level entertainment center.

Colliers International represented the seller, an undisclo​sed REIT.​​

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

​Source: REBusiness Online

REBUSINESS
Houston-The Woodlands-Sugar Land
Retail
Read more at {Source}
NRP breaks ground on 300-unit affordable housing project NRP breaks ground on 300-unit affordable housing project https://www.recenter.tamu.edu/news/newstalk-texas/?Item=237302020-01-17T06:00:00Z2020-01-22T01:00:00Z

​​HOUSTON – The NRP Group and World Premier Investments have broken ground on The Exchange, a 300-unit affordable housing complex at 1250 Leona St.

The Exchange will offer one, two, and three-bedroom units with amenities like a coworking-style business center, fitness center, luxury pool, 24/7 package reception space, and dog park.

At least 50 percent of the units will be set aside for rent- and income-restricted families earning less than 80 percent of the area's median income.

The development, situated in an Opportunity Zone, is part of Hardy Yards, a 43-acre master-planned community that will have a music center, public parks, retail, restaurants, and grocery stores.

PGIM Real Estate Finance arranged ​​$48 million in permanent financing.

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

​Source: Connect Media​

Connect Media
Houston-The Woodlands-Sugar Land
Multifamily
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New York investor picks up 324-unit apartment communityNew York investor picks up 324-unit apartment communityhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=237262020-01-16T06:00:00Z2020-01-21T22:00:00Z

​​​The Jefferson Landmark apartments in Farmers BranchDALLAS – Beachwold Residential has purchased the Jefferson Landmark apartments at 14650 Landmark Blvd.

​The two-year-old, 324-unit rental community is off the Dallas North Tollway north of the Dallas Galleria near Spring Valley.

Irving-based JPI built and sold the asset​ to two companies represented by Beachwold.

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

​Source: Dallas Morning News​​​

Dallas Morning News
Dallas-Fort Worth-Arlington
Multifamily
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Eight-acre RV, boat storage coming near KilleenEight-acre RV, boat storage coming near Killeenhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=237282020-01-16T06:00:00Z2020-01-21T22:00:00Z

​​​​Future site of Cen-Tex RV and Boat Storage, an 8-acre facilityNOLANVILLE – Cliff Brown is building Cen-Tex RV and Boat Storage, a 696,960-sf storage facility at 1993 E. Central Expy.

The property will offer 335 total spaces, many of which will be 14 ft wide and 40, 45, and 50 ft long. Two-hundred covered spaces will be 1​2 ft wide and 37.5 ft long.

MRI Builders of Thorndale is the ​contractor. ​​​

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

​Source: Killeen Daily Herald

Killeen Daily Herald
Killeen-Temple
Retail
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Former Dallas Cowboys facility becoming housing projectFormer Dallas Cowboys facility becoming housing projecthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=237242020-01-16T06:00:00Z2020-01-21T21:00:00Z

​​​​​​​​Dirt being turned at the former Dallas Cowboys practice facility to make way for a new housing developmentIRVING – The former Dallas Cowboys practice grounds in Valley Ranch is becoming a new housing project called Legends Crossing.

The 36-acre ​project will add 251 units to Valley Ranch's current housing stock: 63 small-footprint bungalows, 86 townhomes, and 102 villas.

The community will include a trail system, community center, lawn care services, and Cowboys-themed road names and memorabilia.

Prices will start at $350,000 and top out between $550,000 and $600,000. Centurion American is the developer.

With utility construction underway, the first building permits will be issued in April.

Construction will take three to four years. ​

texaslogo.pngThe Real Estate Center has more housing information:
Community Impact Newspaper
Dallas-Fort Worth-Arlington
Housing
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Accenture moves office to Congress Ave. Accenture moves office to Congress Ave. https://www.recenter.tamu.edu/news/newstalk-texas/?Item=237252020-01-16T06:00:00Z2020-01-21T21:00:00Z

​​​​View down Congress Ave., where Accenture's new main office will beAUSTIN – Accenture PLC is moving its local ​office to the 21,974-sf McKean-Eilers Building at 323 Congress Ave.

The office will be adjacent to Fjord, Accenture's ​design and innovation studio at 319 Congress Ave.

Pravo Construction is the general contractor for the renovation.

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

Austin Business Journal
Austin-Round Rock
Office
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28-story luxury condos rise in downtown Austin28-story luxury condos rise in downtown Austinhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=237232020-01-16T06:00:00Z2020-01-21T20:00:00Z

​​​Rendering of the Linden at 313 W. 17th St.AUSTIN – New York-based Reger Holdings is developing The Linden, a 28-story residential tower at 313 W. 17th St.

The tower will have 117 one- to three-bedroom luxury condominiums and a limited selection of two-story penthouses.

Eight levels of parking will be above 5,000 sf of ground-level retail and restaurant space.

Amenities will include a fitness center, pool, hot tub, club house, and grilling areas.

Rhode: Partners is the architect and interior designer.

Construction will begin in March and wrap up in 22 to 24 months. 

texaslogo.pngThe Real Estate Center has more news like this online for free:
Statesman
Austin-Round Rock
Multifamily
Read more at {Source}
Major mixed-use project underway at North Hills MallMajor mixed-use project underway at North Hills Mallhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=237272020-01-16T06:00:00Z2020-01-21T19:00:00Z

​​​​​​​​​​Rendering of Centurion American's City Point projectNORTH RICHLAND HILLS – Centurion American Development group has ​purchased more than 50 acres on the former North Hills Mall site for a major mixed-use development.

Called City Point, the development on Grapevine Hwy. will include 364 single-family lots, eight acres of multifamily development, 60,000 sf of commercial space, a hotel, amenity center, trail system, and green space.

The city has already built a new city hall and a public safety and municipal court complex on the property. 

Centurion American is currently in the design phase and will begin development in first quarter 2020.

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

​Source: Dallas Morning News​
Dallas Morning News
Dallas-Fort Worth-Arlington
Mixed-Use
Read more at the {Source}
Texas fourth-best state for drivingTexas fourth-best state for drivinghttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=237312020-01-21T06:00:00Z2020-01-21T16:00:00Z

​​​WASHINGTON – ​​​Texas is the fourth-best state to drive in, says a WalletHub study.

The Lone Star State ranks second in access to vehicles and maintenance​, 13th in safety, 20th in cost of ownership and maintenance, and 41st in traffic and infrastructure. 

Texas was fifth in both lowest average gas prices and fewest days without precipitation. 

The top three driving states are Iowa, Tennessee, and North Carolina.​

Last year, Texas ranked fifth on WalletHub's list of the top states for summer road trips. 

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

​Source: WalletHub
WalletHub
Texas
Infrastructure & Transportation
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DFW retail construction ramps up in suburbs DFW retail construction ramps up in suburbs https://www.recenter.tamu.edu/news/newstalk-texas/?Item=237052020-01-14T06:00:00Z2020-01-18T00:00:00Z

​​​​​​DALLAS-FORT WORTH – DFW retail construction increased 10 percent over the quarter in 4Q2019, with many new large-scale starts leading the trend.

Most of this activity is concentrated in the northern suburbs, with North Central Dallas and Far North Dallas accounting for 45 percent of new construction.

Total retail sales this holiday season rose 3.4 percent, with e-commerce sales rising 18.8 percent. This accounted for 14.6 percent of overall retail sales.

The DFW economy continued to post stable numbers through the rest of 2019, with the unemployment rate still low at 3.4 percent.

Housing continued to shine with Dallas maintaining its spot as the top​ market for new-home starts, with builders starting 34,361 homes throughout the year.

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

​Source: CBRE​
CBRE
Dallas-Fort Worth-Arlington
Retail
Read more at {Source}
Waterton bags 809-unit portfolio Waterton bags 809-unit portfolio https://www.recenter.tamu.edu/news/newstalk-texas/?Item=237112020-01-15T06:00:00Z2020-01-18T00:00:00Z

​​​​​​​​​HOUSTON – Waterton has acquired a local multifamily portfolio totaling 809 units.

The portfolio includes the:​

  • 348-unit Reserve by the Lake at 18600 S. Parkview Dr. in Houston,

  • 264-unit Madison on the Meadow at 12660 Stafford Rd. in Stafford​, and 

  • 197-unit Summerwind at 2414 County Rd. 90 in Pearland​.

All three of the assets will undergo capital improvement programs, focusing on interior and exterior renovations.

​According to Yardi Matrix information, Hills Properties was the seller of all three properties. 

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

​Source: Multi-Housing News​

Multi-Housing News
Houston-The Woodlands-Sugar Land
Multifamily
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