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New York buyer picks up Sugar Land pharmacyNew York buyer picks up Sugar Land pharmacyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252502020-12-01T06:00:00Z2020-12-01T16:00:00Z

​​​​SUGAR LAND – ​A New York investor has purchased a CVS Pharmacy at 5757 New Territory Blvd. for $2.96 million.

CVS has over 11 years remaining on its lease with four five-year renewal options. 

The Boulder Group represented both the seller, a Texas developer, and buyer. ​​

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

​Source: Connect Media​

Connect Media
Houston-The Woodlands-Sugar Land
Retail
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Peloton expanding in Plano Peloton expanding in Plano https://www.recenter.tamu.edu/news/newstalk-texas/?Item=252512020-12-01T06:00:00Z2020-12-01T16:00:00Z

​​​​PLANO – New York-based Peloton Interactive Inc. has boosted its local footprint with a 103,759-sf lease.

The filing did not specify where Peloton's new lease will be, though state plans show the company is moving to Legacy Central 1. 

The indoor cycling company was already leasing 28,000 sf at Legacy Central 3 at 6600 Chase Oaks Blvd. The lease was set to expire in 2023.

The larger lease term ends Jan. 31, 2029. 

Peloton will commit an additional $19.7 million in the lease and will start preparing the new space for use this month.​

Trans​western represented the landlord, Los Angeles-based Regent Properties.​

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

Dallas Business Journal
Dallas-Fort Worth-Arlington
Office
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Vacant hospital getting second lifeVacant hospital getting second lifehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252522020-12-01T06:00:00Z2020-12-01T16:00:00Z

​​​​​​DALLAS – Houston-based Advanced Diagnostics Hospital & Clinics has purchased an eight-story, 199,182-sf vacant hospital at 7502 Greenville Ave.

Built in 1984, the b​​uilding was converted into a surgical hospital in 2014. The previous tenant, Walnut Hill Medical Center, opened its doors in April 2014 before abruptly closing in June 2017.

The building has 84 private patient rooms, 16 ICU rooms, six operating rooms, two cath labs, an imaging center, pharmacy, lab, emergency department, commercial kitchen, and connected vacuum tube system. There is also an attached four-story parking garage. 

The acute-care hospital had about 420 employees at its busiest. It was co-managed by Medistar and Surgical Development Partners. 

The seller, Tampa, Fla.-based Sila Realty Trust Inc., was represented by CBRE. 

Texas logoThe Real Estate Center has more DFW medical news on our website for free. 

​​Source: Dallas Business Journal

Dallas Business Journal
Dallas-Fort Worth-Arlington
Medical
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Renaissance Austin Hotel trades handsRenaissance Austin Hotel trades handshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252532020-12-01T06:00:00Z2020-12-01T16:00:00Z

​​​​​​​​AUSTIN – ​​An affiliate of San Francisco-based ​The Axton Group has purchased the 492-room Renaissance Austin Hotel for $70 million. 

The hotel, part of​ the Marriott International family of brands, is at 9721 Arboretum Blvd. It includes 88 suites and 77,600 sf of meeting and event space.

An affiliate of Walton Street Capital LLC provided acquisition financing. Eastdil Secured served as financial advisor. 

Axton Group plans to upgrade the meeting rooms and other common spaces.

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

REBUSINESS
Austin-Round Rock
Hotel
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Keller Williams franchise relocates in San AntonioKeller Williams franchise relocates in San Antoniohttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252542020-12-01T06:00:00Z2020-12-01T16:00:00Z

​SAN ANTONIO – Keller Williams City View has signed a full-building lease for 30,000 sf at The Park at Vance Jackson. 

The property​​​ at 15510 Vance Jackson Rd. was delivered this past February. 

Transwestern and Drake Commercial represented the landlord, The Park on Vance Jackson LLC. KW Commercial City View represented the tenant.

The Keller Williams franchise had been at 10999 W. I-10 for more than 30 years. ​​​​​

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

Source: Connect Media
Connect Media
San Antonio-New Braunfels
Office
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Texas factory activity expands for sixth month in a rowTexas factory activity expands for sixth month in a rowhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252552020-12-01T06:00:00Z2020-12-01T16:00:00Z

​​DALLAS – Texas factory activity expanded for the sixth straight month in November​​, though at a markedly slower pace, according to the Dallas Fed’s Texas Manufacturing Outlook Survey.

The production index, a key measure of state manufacturing conditions, fell from 25.5 to 7.2, indicating a deceleration in​​ output growth.​

Other measures of manufacturing activity and broader​​ business conditions point to slower growth in November, as the indexes remained positive but came in below October’s readings.

Expectations regarding future activity remained positive in last month, although several key indexes moved down from their October readings. The future production index fell six points to 40.8, and the future general business activity index edged down three points to 25.8. 

Other measures of future manufacturing activity showed mixed movements but remained solidly in positive territory.

Texas logoRead the Real Estate Center​​Texas Quarterly Commercial Report for more.

Source: Connect Media
Connect Media
Texas
Industrial
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H-E-B working on New Braunfels storeH-E-B working on New Braunfels storehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252492020-12-01T06:00:00Z2020-12-01T15:00:00Z

​​​NEW B​​RAUNFELS ​– H-E-B is building a 122,222-sf store at 651 S. Walnut Ave. 

​Work will start on the $17.5 million ​proje​ct early next year. Opening is slated for fourth quarter​ 2021.

An existing 99,000-sf H-E-B opened in the same retail center in 1994.

Texas logoGet more San Antonio-area retail news on the Real Estate Center's website:

​​Source: REBusiness Online​

REBUSINESS
San Antonio-New Braunfels
Retail
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Austin condo tower set for 2021 groundbreakingAustin condo tower set for 2021 groundbreakinghttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252462020-11-30T06:00:00Z2020-11-30T21:00:00Z

​​​AUSTIN – Locally based Pearlstone Partners and New York-based ATCO Properties and Management are developing a 41-story condominium tower in the Rainey Street Historic District.

Currently referred to as "The East Tower," the project will include 284 units averaging 975 sf. Prices will be between $499,000 and ​​$999,000.​

Work starts in second quarter 2021 with completion set for fourth quarter 2023.

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

​​​Source: Connect Media

Connect Media
Austin-Round Rock
Housing
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Downtown SA's Hotel Contessa soldDowntown SA's Hotel Contessa soldhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252472020-11-30T06:00:00Z2020-11-30T21:00:00Z

SAN ANTONIO – Hotel Contessa, a 265-room hotel in the Riverwalk area, has been sold.

The 12-story building at 306 W. Market St. was built in 2005. 

It has 10,000 sf of event spac​e, a rooftop pool, restaurant/bar, and full-service spa.

Hodges Ward Elliott represented the seller and arranged financing on behalf of the buyer. ​​

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

REBUSINESS
San Antonio-New Braunfels
Hotel
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'Cost-efficient' rental housing debuts in Katy'Cost-efficient' rental housing debuts in Katyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252482020-11-30T06:00:00Z2020-11-30T21:00:00Z

KATY – Alliance Residential Co. ​has opened Prose West Cypress, a 336-unit "cost-efficient" apartment community at 19770 Clay Rd. 

The Prose brand is intended to be more ​affordable by eliminating lavish amenities and upscale common area features many area apartments have. 

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

​Source: Realty News Report

Realty News Report
Houston-The Woodlands-Sugar Land
Multifamily
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Affordable housing complex changes handsAffordable housing complex changes handshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252432020-11-30T06:00:00Z2020-11-30T20:00:00Z

​DALLAS – Ridge at Trinity Apartments, a 230-unit affordable housing community at 7203 Great Trinity Forest Way, has been sold. 

Built in 1970 and renovated b​etween 2015 and 2019, the 19-building property spans 17.4 acres.

It has a mix of one-, two-, and three-bedroom units ranging from 676 to 1,117 sf.

Amenities include onsite laundry facilities and open green spaces with playgrounds. 

Colliers International represented the seller, Hope Housing.

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

Source: REBusiness Online

REBUSINESS
Dallas-Fort Worth-Arlington
Multifamily
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GVA Management acquires apartment assetGVA Management acquires apartment assethttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252442020-11-30T06:00:00Z2020-11-30T20:00:00Z

​​​DALLAS – GVA Manag​ement has purchased Bella Vista Creek, a 272-unit, Class B multifamily community at 3402 S. Buckner Blvd. 

Built in 1985 and 1987, the complex has a mix of one- and two-bedroom un​its. Amenities include a business center, clubhouse, swimming pool, and gated access. 

The buyer plans an extensive rehab project.

CBRE represented the seller, ​Canada-based AmeriCan Multifamily Alliance Group.

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

Source: Connect Media

Connect Media
Dallas-Fort Worth-Arlington
Multifamily
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Japanese subsidiary picks up industrial buildingJapanese subsidiary picks up industrial buildinghttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252452020-11-30T06:00:00Z2020-11-30T20:00:00Z

​AUSTIN – CKD ​USA, the U.S. subsidiary of Japanese manufacturer CKD Crop., has purchased a 50,000-sf industrial building. 

The new owner will i​nvest about $13 million in revamping the facility at 4401 Supply Court.

CKD will bring 70 new jobs to the area when it begins operations in fall 2021. 

NAI Partners represented the buyer, and CBRE represented the seller. 

Texas logoThe Real Estate Center has more Austin real estate news: 

REBUSINESS
Austin-Round Rock
Industrial
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Dallas senior housing community undergoes $77M expansion Dallas senior housing community undergoes $77M expansion https://www.recenter.tamu.edu/news/newstalk-texas/?Item=252422020-11-30T06:00:00Z2020-11-30T19:00:00Z

​​DALLAS – Presbyterian Village North is undergoing an expansion project that will add 112 new independent living units in a five-story building named The Hawthorne. 

The 66-acre comm​​unity ​currently consists of 89 buildings with 253 independent-living, 101 a​ssisted-living, 44 memory-care units, and 106 skilled nursing beds. 

Of the 97 units being marketed, 72 percent are already pre-sold. 

The project also includes renovations to ​​​common areas.

Ziegler arranged $77.1 million in financing.​

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

​​Source: REBusiness Online​
REBUSINESS
Dallas-Fort Worth-Arlington
Senior Living
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265-unit Riverwalk hotel trades hands265-unit Riverwalk hotel trades handshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252392020-11-25T06:00:00Z2020-11-25T16:00:00Z

​SAN ANTONIO – Wheelock Street Capital has purchased Hotel Contessa, a 26​5-unit all-suite hotel at 306 W. Market St. 

Built in 2005, the 12-story building has a rooftop pool, restaurant and bar, spa, and 10,000 sf of event space. 

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


San Antonio Business Journal
San Antonio-New Braunfels
Hotel
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1M-sf former Titan tire plant rolls to new owner 1M-sf former Titan tire plant rolls to new owner https://www.recenter.tamu.edu/news/newstalk-texas/?Item=252402020-11-25T06:00:00Z2020-11-25T16:00:00Z

​​BROWNSVILLE – Phoenix Investors has acquired the 1.04 million-sf former Titan International Inc. tire plant at 6700 Paredes Line Rd.  

Built in 1997, the 108-acre pro​perty was converted into a multitenant asset in 2003. 

Newmark represented Titan in the sale. 

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

​​Source: REBusiness Online

REBUSINESS
Brownsville-Harlingen
Industrial
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Jenkins breaks ground on Bryan RV resort Jenkins breaks ground on Bryan RV resort https://www.recenter.tamu.edu/news/newstalk-texas/?Item=252412020-11-25T06:00:00Z2020-11-25T16:00:00Z

​​BRYAN – The Jenkins Organization has broken ground on an RV resort near Texas A&M University. 

The park will include 304 RV sites a​nd 64 cabins. 

Amenities will include a sports court, camp store, two clubhouses, pools, covered pavilions, walking trails, two dog parks, and two workout facilities. 

Construction will be complete in summer 2021. 

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

REBUSINESS
College Station-Bryan
Retail
Read more at {Source}
804-unit workforce housing complex sold in South Dallas804-unit workforce housing complex sold in South Dallashttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252352020-11-25T06:00:00Z2020-11-25T15:00:00Z

​DALLAS – Nitya Capital has purchased The Muse, an 804-unit workforce housing community at 3035 W. Pentagon Pkwy. 

The Muse offers 30 different floor plans with an average size of 926 sf. 

Amenities include a fitness center, busines​s center, and onsite laundry facilities. 

NorthMarq represented the seller, S2 Capital LLC. 

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

Source: REBusiness Online

REBUSINESS
Dallas-Fort Worth-Arlington
Multifamily
Read more at {Source}
JV developing Texas Wesleyan student housingJV developing Texas Wesleyan student housinghttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252362020-11-25T06:00:00Z2020-11-25T15:00:00Z

​​FORT WORTH – Panteras Development Partners and Miyama USA Texas have entered a long-term ground lease with Texas Wesleyan University to de​velop a student housing community. 

Called the Rosedale, the three-story single-building community at 3228 E. Rosedale St. contains 101 beds across 56 units.

Amenities will include 101 gated parking spaces, student lounges with large-screen televisions, and dedicated study areas.

Miyama is overseeing funding and management of the community. The architect is 97w.

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
Read more at {Source}
Surface parking transforming in Parmer business parkSurface parking transforming in Parmer business parkhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=252372020-11-25T06:00:00Z2020-11-25T15:00:00Z

​​AUSTIN – The Austin Zoning and Platting Commission has approved​ a plan to expand the 138-acre 7700 Parmer business park.

A surface parking lot will be transformed into a 340-room hotel, 80,000 sf of retail and restaurant space, and 1,800 multifamily units.

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

​​​Source: ​Austin Business Journal

Austin Business Journal
Austin-Round Rock
Mixed-Use
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