Texas General Land Office captures three buildings around AlamoTexas General Land Office captures three buildings around Alamohttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107602015-10-08T05:00:00Z

​​SAN ANTONIO - The Texas General Land Office is buying three major historic buildings across from the Alamo, raising the potential for a plaza renovation or a new museum to house artifacts.

The agency is under contract to buy the Woolworth, Palace and Crockett buildings at 518 E. Houston St., 319 Alamo Plaza and 321 Alamo Plaza.

The seller is Service Life and Casualty Insurance Co. of Austin.

All three buildings, among several others on the plaza, stand within the original footprint of the Alamo.

The Land Office has committed to working jointly with the city, which owns Alamo Plaza, to develop a master plan for the Alamo and the plaza, with completion expected in less than a year.

The Legislature this year appropriated $31.5 million as a starting point for the historic mission and battle site, including $25 million for the master plan process and projects resulting from the plan.
San Antonio Express-News
San Antonio-New Braunfels
Public Facilities
http://www.expressnews.com/news/local/article/Land-Office-to-buy-Alamo-Plaza-property-6552271.php#photo-8744631Read more at the {Source}
$4.2M Hyatt House reservation in Bryan$4.2M Hyatt House reservation in Bryanhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107772015-10-10T05:00:00Z

​​​BRYAN - A new four-story Hyatt House Bryan hotel is set to start construction soon on Wildflower Dr.​

The 69,852-sf hotel will have 112 rooms, ranging from 431 sf to 721 sf.

The cost of construction is $4.2 million.

The project is to start November 1, and is slated to be complete by December 2016.

City of Bryan
College Station-Bryan
,%20Hyatt%20House,,%209-29-2015.pdf, http://docs.bryantx.gov/planning_development/SDRC/2015%20SDRC/9-29-2015/SP15-53,%20Hyatt%20House,%209-29-2015.pdf

Click here to see more details on the project at the Texas Department of Licensing and Regulation.

Source: {Source}
Peninsula at Rough Hollow claims last gated community at Lake TravisPeninsula at Rough Hollow claims last gated community at Lake Travishttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107562015-10-09T05:00:00Z

​​AUSTIN - Developers Haythem Dawlett, founder and principal of Legend Communities, and Tommy Tucker, Central Texas residential vice president for Crescent Communities, said the new Rough Hollow neighborhood will be the last gated community on Lake Travis.

The developers broke ground on the 1,800-acre The Peninsula at Rough Hollow in March and are offering the first 20 lots of the three-phase, 80-lot project to buyers.

The entrance is located at 903 Highlands Blvd. in Lakeway.

The sites are priced from the upper $200,000s to more than $1 million, Dawlett said.

"This is the last undeveloped large parcel on the south shore of Lake Travis. It just presents a unique opportunity to create an incredible community," Tucker said.

Community Impact Newspaper
Austin-Round Rock

​Also see Rough Hollow's interactive map.

Read more at {Source}
Homebuying flourishes in Parker CountyHomebuying flourishes in Parker Countyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107692015-10-09T05:00:00Z

PARKER COUNTY - With demand increasing, it is a good time to sell a house in Parker County as existing home sales and prices are up, according to Multiple Listing Service data collected by North Texas Real Estate Information Systems.

As of August, home sales were up 11.7 percent over the same time last year in Parker County, with more than 1,400 homes sold so far this year. 

The average home sales price was $246,506, up 10.2 percent over the same time last year. 

The median sales price of a home was $220,000, up 10.6 percent over the same time last year.

Buyers have been paying 95.5 percent of the original list price, also slightly up over last year.

Parker County is not alone. Home sales are rising in the DFW area and the state.

The Real Estate Center at Texas A&M University earlier this week announced that MLS data show Texas home sales had a 7 percent year-over-year increase in August as the median price went up 7.4 percent. 

Weatherford Democrat
Dallas-Fort Worth-Arlington
http://www.weatherforddemocrat.com/news/home-buying-market-flourishes-in-county/article_cdf5aeee-67c8-11e5-9170-f794363780c5.htmlRead more at the {Source}
Aggieland Inn attracts new ownerAggieland Inn attracts new ownerhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107502015-10-09T05:00:00Z

​​COLLEGE STATION - Marcus & Millichap announced the sale of Aggieland Inn, a 167-room hospitality property located at 1502 Texas Ave. South, only one block away from the Texas A&M University complex. 

Built in 1972, the interior corridor, midscale, limited service hotel — formerly ​Ramada — is situated on nearly four acres of land. 

At the time of closing, the buyer commented the property would undergo a multimillion dollar renovation before reopening for guests in first quarter 2016.

Marcus & Millichap Real Estate Investment Services
College Station-Bryan
http://www.marcusmillichap.com/about-us/news-events#/overviewRead more at {Source}
Cushman & Wakefield: DFW office occupancy up nearly 50 percentCushman & Wakefield: DFW office occupancy up nearly 50 percenthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107662015-10-09T05:00:00Z

​DALLAS-FORT WORTH - As businesses grow, office occupancy across DFW has grown about 50 percent in 2015.

A Cushman & Wakefield report shows net office leasing of 4 million sf through the first three quarters, up from 2.7 million sf at this time last year. DFW-Office-BISNOW-October-8-2015.png

The demand is also triggering increases in rental rates with an almost 6 percent increase from third quarter last year.

DFW is adding more office space, too, with almost 7 million sf under construction with almost half of that pre-leased.

It's no surprise where the majority of the office leasing is occurring either in Richardson's Telecom Corridor (think CityLine pictured above), Las Colinas, Legacy West in Plano and the $5 billion mile in Frisco.

Dallas-Fort Worth-Arlington

Want more? See North Texas net office leasing up almost 50 percent in 2015​ from the Dallas Morning News. 

Source: {Source}
Port of Galveston to funnel BMWs through island portPort of Galveston to funnel BMWs through island porthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107762015-10-09T05:00:00Z

​​​GALVESTON - The Port of Galveston’s governing board approved a series of contracts totaling $1.3 million for work to ready the Wallenius Wilhelmsen Logistics vehicle-processing center by January 1, 2016.

The vehicle-processing center is underway at Pier ten and promises to funnel thousands of new BMWs through the island port and potentially attract the attention of other automakers.

Security grants will pay about $390,000 of the $1.3 million and Wallenius will reimburse the port for capital costs on the project during a ten-year period.

The processing center will import more than 32,000 BMW and MINI vehicles a year. Workers at the facility will perform vehicle inspections, mechanical repairs and accessory installation.

The vehicle-processing center will consist of 44,000 sf in two buildings. The $11 million facility is expected to create 35 jobs.

Galveston Daily News
Houston-The Woodlands-Sugar Land
http://www.galvnews.com/news/article_1ba65444-68bf-11e5-b1d8-bb383603216f.htmlRead the full article at the {Source}
Houston’s medical construction boom slowing?Houston’s medical construction boom slowing?https://www.recenter.tamu.edu/news/newstalk-texas/?Item=107642015-10-09T05:00:00Z

​​HOUSTON - The healthcare construction boom in Houston’s suburbs is going to slow down somewhat as medical organizations’ building programs have caught up with city’s population expansion.

Marshall Heins, chief facilities service officer of Memorial Hermann Health System, told the Texas Healthcare Real Estate 2015 Summit that growth could continue to sustain some degree of future construction.

But it appears this wave of suburban medical construction is winding down. Some $3 billion of medical related construction is under construction in the Houston area, according to Colliers International.

Construction costs have been high, Heins says, because so many office buildings, apartments and other commercial projects have been built in Houston in recent years, which pushed up construction costs.

The expansion in Houston area petrochemical plants is significant and that trend may apply upward pressure on construction costs and provide economic stimulus that creates demand for medical facilities.

Tod Fetherling, founder Perception Health, a demographic and medical site selection consultant based in Nashville, says some submarkets in Houston offer opportunity for new medical development.

Three exceptionally promising zip codes are ZIP code 77073, west of Bush Airport; the Richmond area west of Houston and ZIP code 77007, west of downtown, Fetherling says.​
Realty News Report
Houston-The Woodlands-Sugar Land
http://realtynewsreport.com/2015/10/06/houstons-medical-construction-boom-may-be-winding-down/Read more at {Source}
209-Unit South 400 breaks ground in downtown Fort Worth209-Unit South 400 breaks ground in downtown Fort Worthhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107632015-10-09T05:00:00Z

​​​FORT WORTH - Ventures Development Group (VDG) has begun construction on the first multifamily development in the Near Southside Community of downtown Fort Worth at 400 S Jennings Ave. 

The 2.1-acre parcel is located at the corner of Jennings and Broadway Ave. across the street from the Broadway Baptist Church.

In conjunction with the development, the local tax increment district has approved infrastructure improvements, updated streetscapes and environmental remediation.

The five-story, 209-unit community, will include 2,600 sf of ground-floor retail space and four live/work studio lofts.

South 400 Apartments will include amenities such as a sky lounge overlooking the Fort Worth skyline and private terraces.

Dallas-Fort Worth-Arlington
http://rebusinessonline.com/ventures-development-begins-construction-on-south-400-apartments-in-fort-worth/Source: {Source}
125,000 sf of self-storage trades in Humble, Beaumont125,000 sf of self-storage trades in Humble, Beaumonthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107832015-10-09T05:00:00Z​​​​LONGVIEW – ​Deason Financial Group LLC of Longview arranged acquisition financing for two separate self-storage facility purchases totaling just shy of 125,000 sf.

The first was for Via Bayou Inc.'s purchase of the 42,475-sf Affordable Self Storage at 8569 E. North Belt Dr. in Humble. Expansion financing was also provided.

Two separate loans were arranged:
  • Acquisition loan of $2.5 million at 75 percent LTV with a five-year term and 25-year amortization.
  • Construction and min-perm financing of the expansion at $2 million at interest-only for 24 months, converting to principal and interest payments for months 25–36.
Sixty-eight percent of the ten-year-old facility is climate-controlled. The expansion will add 70,000 sf.

Meanwhile, in Beaumont, AA Storage Beaumont Ltd. purchased the 82,390-sf AA Climate Control Storage at 9040 SH 105. Built in 2010, the facility has 632 self-storage units, 83 percent of which are climate-controlled.

Financing of $4.5 million was obtained at 75 percent LTV with a ten-year term, 30-year amortization and three years interest only.​
Deason Financial Group LLC
Houston-The Woodlands-Sugar Land
Read more at {Source}
Register today for our 19th Annual Commercial Real Estate CourseRegister today for our 19th Annual Commercial Real Estate Coursehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107822015-10-09T05:00:00Z​​​​​​COLLEGE STATION – There's still time to register​ for the Center's 19th Annual Commercial Real Estate Course. It is Oct. 19–20 at the Norris Conference Center in Houston.

The conference addresses residential real estate effects on commercial markets, demographics and transportation and provides an overview of the Texas economy. TREC CE credit includes nine elective hours plus six legal hours (Legal Update/Ethics).

​Cost is $275. For more information or to register, visit the conference website.
Real Estate Center
College Station-Bryan
Center News
Read more at {Source}
58-Room Sleep Inn & Suites coming to North Bryan58-Room Sleep Inn & Suites coming to North Bryanhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107792015-10-09T05:00:00Z

​​​BRYAN - Construction is underway for a 58-room Sleep Inn & Suites — a three-story hotel at 2815 N. Earl Rudder Fwy.

The first floor consists of 10,572 sf. Hotel construction is valued at $4 million.

Construction is expected to be complete by July 2016.

City of Bryan
College Station-Bryan
,%20Sleep%20Inn,,%207-28-2015.pdf, http://docs.bryantx.gov/planning_development/SDRC/2015%20SDRC/7-28-2015/SP15-36,%20Sleep%20Inn,%207-28-2015.pdf

Click here to see more information about this development at the Texas Department of Licensing and Registration.

Source: {Source}
UTSA launching Embrey Real Estate Finance and Development ProgramUTSA launching Embrey Real Estate Finance and Development Programhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107802015-10-09T05:00:00Z​​​​SAN ANTONIO – Local real estate legend Walter M. Embrey Jr. has made a $1 million gift in support of graduate student real estate education at the University of Texas at San Antonio (UTSA) College of Business.

In recognition of his gift, the college’s planned two-year, cohort-based master's program will be named the Embrey Real Estate Finance and Development Program.

Embrey is the founder and chief executive officer of Embrey Partners, a 41-year-old firm that has partnered in projects that total 40 million sf in ten states.
University of Texas at San Antonio
San Antonio-New Braunfels
Read more at {Source}
La Frontera finishing off with $100 million office campusLa Frontera finishing off with $100 million office campushttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107752015-10-09T05:00:00Z

​​ROUND ROCK – W2 Real Estate Partners is building a $100 million office campus that will be the last piece of the La Frontera mixed-use project.

The 400,000-sf campus, called Frontera Ridge, will be near SH 45 and Mopac Blvd. on the last major tract of the one million-sf, 328-acre development.

Frontera Ridge will include two five-story buildings with 200,000 sf each and expandable to 800,000 sf. 

The project is expected to receive development permits from the city and the Texas Commission on Environmental Quality by year's end. Work on the site could begin as soon as January.

Frontera Ridge will include a central outdoor area modeled after major Silicon Valley campuses, with special events space, a food truck plaza, lounge areas, rain gardens and shaded terraces for outdoor work and entertainment. W2 will preserve a grove of 100-year-old oak trees on the site.

Austin American-Statesman
Austin-Round Rock
http://www.mystatesman.com/news/business/100-million-office-campus-planned-at-la-frontera-s/nnyFZ/Read more at {Source}
Houston drops in real estate market rankings; Dallas, Austin at top spotsHouston drops in real estate market rankings; Dallas, Austin at top spotshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107722015-10-09T05:00:00Z

​​​HOUSTON – Houston fell from being last year's top commercial real estate market to No. 30 in the 2016 rankings, while Dallas and Austin ranked first and second, respectively, according to Emerging Trends​ in Real Estate 2016. The report is co-published by PwC US and the Urban Land Institute (ULI).

The report attributes Houston's drop to the fall in oil prices.

Dallas is ranked as the top real estate market since it has been leading the nation in job growth with about 480,000 new jobs over the last five years.

Other high-ranking cities include Charlotte, Seattle and Atlanta. 

Realty News Report
http://realtynewsreport.com/2015/10/07/houston-falls-from-top-ranking-to-no-30-while-dallas-and-austin-and-no-1-2-in-uli-emerging-trends-forecast/Read more at {Source}
Hot housing spot points to BastropHot housing spot points to Bastrophttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107532015-10-08T05:00:00Z

​BASTROP - As Austin's housing market becomes overly saturated and less affordable, Bastrop stands ready to absorb incoming growth and new home construction, according two recent studies commissioned by the Bastrop Economic Development Corporation.

The studies found that Bastrop's proximity to Austin and Houston, and its quality-of-life community amenities will increase its share of the Austin regional housing market.

As prime and high-activity submarkets along I-35 fill up and become less affordable, continued growth will shift new home construction to emerging, attractive areas in the southeast sector.

According to a housing market study by real-estate market advisor Robert Charles Lesser & Co.​,​ home sales in Bastrop could reach up to 250 per year in five years, and about 325 closings per year in the next five to ten years.

Meanwhile, multifamily housing demand in Bastrop can support between 150 and 225 new rental units, or a small to medium size apartment community, per year over the next five years, according to a multifamily feasibility analysis by Capitol Market Research Inc.

With Bastrop primed for growth, the city is suited for immediate and expanding demand for diverse housing.​

Austin American-Statesman
Austin-Round Rock
http://www.statesman.com/news/news/local/bastrop-poised-to-be-next-housing-hot-spot/nnxGT/Read more at the {Source}
PMRG: Dallas-Fort Worth office market 3Q 2015PMRG: Dallas-Fort Worth office market 3Q 2015https://www.recenter.tamu.edu/news/newstalk-texas/?Item=107682015-10-08T05:00:00Z​​​​​​​DALLAS-FORT WORTH - The DFW office market recorded 827,441 sf of direct net absorption during third quarter 2015, increasing its year-to-date absorption count to more than 4.0 million sf — which puts 2015 on pace to record its highest absorption level since 2000. 

Build-to-suit construction, corporate relocations to the market and company expansions have been the driving force behind the healthy demand witnessed during the year, increasing occupancy rates by 60 basis points to 83.2 percent since the end of 2014.

The DFW office market growth is not expected to slow down any time soon, even with the decline in occupancy rates during the quarter.

The office construction pipeline has increased 20.3 percent within the past year to approximately 6.4 million sf (excluding corporate-owned projects), continuing its surge experienced since late 2013. 

Only about 42 percent of this space has pre-lease commitments as developers are increasingly comfortable breaking ​ground prior to securing a lead-tenant.​ ​​

Office market fundamentals are forecasted to remain healthy resulting from corporate relocations and expansions as companies are attracted to the metro area's business-friendly environment with relatively lower business costs and a well-educated labor force.

Dallas-Fort Worth-Arlington

For the full report, see PMRG's DFW Office Market At A Glance 3Q 2015 (PDF)​

Also see DFW Office Market Research​ for more free reports.

Source: {Source}
Walmart building second Fort Worth distribution hubWalmart building second Fort Worth distribution hubhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107702015-10-08T05:00:00Z

​​​​FORT WORTH – Retail giant Walmart Stores Inc. will open its second Dallas-Fort Worth distribution hub by early 2016.

The company has been working on $32 million in expansion plans with the city for over a year to expand its distribution capabilities.

Located at 15191 N. Beach St. in AllianceTexas, the one million-sf building should be completed by the end of the year.

Walmart​ will hire an additional 400 employees in the region. Currently, the retailer employs 600 at its existing facility at 5300 Westport Pkwy. Hiring should begin in first quarter 2016, and opening is expected soon after.

Dallas Business Journal
Dallas-Fort Worth-Arlington
http://www.bizjournals.com/dallas/news/2013/11/19/walmart-looks-to-build-second.htmlRead more at {Source}
127 Scott Felder Homes 'move in' Plano's Legacy West127 Scott Felder Homes 'move in' Plano's Legacy Westhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107512015-10-08T05:00:00Z

​PLANO - Scott Felder Homes has tied up land for eight Dallas-Fort Worth developments with more than 500 houses.


The builder will start construction soon on a 127-home project in Plano's $2 billion Legacy West development.

The two- and three-story detached high-density contemporary houses will occupy a site between Toyota Motor and Liberty Mutual Insurance's new Plano campuses.

The neighborhood is being built on a triangular piece of property between J.C. Penney's headquarters and the new Legacy West urban village, which has retail, restaurants, apartments and office space.

The 2,000- to 3,000-sf houses will start around $500,000.

Along with the Legacy West project, Felder Homes has purchased building locations in Highland Village, Celina, Prosper and Frisco. The company is starting houses in eight traditional single-family neighborhoods.

The Austin company was recently honored as the 2015 Volume Builder of the Year by the Texas Association of Home Builders.

Dallas Morning News
Dallas-Fort Worth-Arlington
http://www.dallasnews.com/business/residential-real-estate/20151001-builder-making-north-texas-debut-with-high-profile-project.eceRead more at the {Source}
TD Ameritrade diving into new Southlake campusTD Ameritrade diving into new Southlake campushttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107652015-10-08T05:00:00Z

​​SOUTHLAKE – ​​​​Omaha, Neb.-based online stockbroker TD Ameritrade is purchasing 78 acres off SH 114 for a regional campus for its approximately 1,200 North Texas employees.

The ​​campus will consolidate the company's call center, technology and operations staff from two office buildings in Fort Worth, giving more room for what is their second largest office after Omaha.

A TD Ameritrade spokesperson said the building will have a cafeteria, fitness center and other amenities. 

The developer will seek LEED certification​.

Dallas Morning News
Dallas-Fort Worth-Arlington
http://bizbeatblog.dallasnews.com/2015/10/td-ameritrade-moves-on-new-78-acre-southlake-campus.html/Read more at {Source}

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