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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
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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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Todd Interests building 20-story mixed-use tower at East Quarter Todd Interests building 20-story mixed-use tower at East Quarter https://www.recenter.tamu.edu/news/newstalk-texas/?Item=237162020-01-15T06:00:00Z2020-01-17T22:00:00Z

​​​​​​The first ground-up development at East Quarter, called 300 PearlDALLAS – Todd Interests has started on 300 Pearl, the first of four ground-up developments within the East Quarter revitalization project.

Located between Pearl St. and Cesar Chavez Blvd., the 20-story building will include 180,000 sf of office space, 25,000 sf of ground-floor retail, and 336 Class A apartments.

Other features will include enclosed parking, a fitness center, and a private bar.​

The project will preserve two 1940s-era buildings along Cesar Chavez Blvd.

The building will cost around $130 million, according to the Texas Department of Licensing and Regulation.

Altschuler and Co. are leasing the office space, while Shop Cos. will lease the retail. Merriman Anderson Architects is the designer, and Andres Construction is the builder.​

The office portion is set for completion by early 2021, while the residential portion will be delivered by mid-2022.

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

Dallas Business Journal
Dallas-Fort Worth-Arlington
Mixed-Use
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Longview affordable apartments nearing completion Longview affordable apartments nearing completion https://www.recenter.tamu.edu/news/newstalk-texas/?Item=237182020-01-15T06:00:00Z2020-01-17T22:00:00Z

​​Rendering of Alton Plaza at 202 E. Whaley St.LONGVIEW – Saigebrook Development's Alton Plaza affordable housing project at 202 E. Whaley St. will deliver by the end of this month.

The former Petroleum Building has become an apartment complex offering 49 ​​studio and one- and two-bedroom units. 

Most units are reserved for residents earning 50 to 60 percent of the area's median income (AMI). Four apartments are reserved for residents earning 30 percent of the AMI.

​Amenities include a theater, library, cybercafe, and fitness center. ​

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

​Source: Connect Media​
Connect
Texas
Multifamily
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Rezoning approved for potential Amazon center in PflugervilleRezoning approved for potential Amazon center in Pflugervillehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=237152020-01-15T06:00:00Z2020-01-17T21:00:00Z

​​Prototype design for the Amazon warehouse at 2000 E. Pecan St.PFLUGERVILLE – The city council has approved the rezoning of 94 acres at 2000 E. Pecan St. for a proposed Amazon distribution center.

Dubbed Project Charm, the four-and-a-half-story, 3.8 million-sf facility will feature 43,000 sf of office space, 780,552 sf of warehouse space, and three million sf for robotics on a mezzanine level. There will be 1,706 parking spaces. 

Jones/Carter is the civil engineer, SMDH Inc. is the structural engineer, and Dialectic Engineer is the mechanical, electrical, and plumbing engineer.

A final reading of the rezoning ordinance will occur later this month.

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

Austin Business Journal
Austin-Round Rock
Industrial
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Transamerica moving office to Legacy CentralTransamerica moving office to Legacy Centralhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=237172020-01-15T06:00:00Z2020-01-17T21:00:00Z

​​Legacy Central developmentPLANO – Transamerica Corp. will move its local office to nearly 37,000 sf at Legacy Central.

The building at 6600 Chase Oaks Blvd. is home to Samsung, Peloton, Space, and other office tenants.

​​​​The 84-acre Legacy Central development is 65 percent leased.

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

Dallas Business Journal
Dallas-Fort Worth-Arlington
Office
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Orr Commercial hands off Bay Area Plaza Orr Commercial hands off Bay Area Plaza https://www.recenter.tamu.edu/news/newstalk-texas/?Item=237092020-01-15T06:00:00Z2020-01-17T00:00:00Z

​​​​​Image of bay area plaza on a sunny day.WEBSTER – Orr Commercial has sold Bay Area Plaza, a 72,569-sf mixed-use center at 100-160 Bay Area Blvd., to a local buyer.

The property includes 45,269 sf of retail and 27,300 sf of industrial space. It was 98 percent occupied at the time of sale.

​JLL Retail Capital Markets represented the seller. ​​​

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

​Source: JLL​

JLL
Houston-The Woodlands-Sugar Land
Mixed-Use
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JLC Omni flips 68K-sf office building JLC Omni flips 68K-sf office building https://www.recenter.tamu.edu/news/newstalk-texas/?Item=237102020-01-15T06:00:00Z2020-01-17T00:00:00Z

​​​​​Image of the Class B property on a sunny day surrounded by trees.HOUSTON – JLC Omni LLC has sold a four-story, 68,000-sf Class B office building at 397 N. Sam Houston Pkwy. 

The three-acre property has a three-story parking garage. 

Major tenants include Bank of the Ozarks. 

LandPark Advisors represented the seller.

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

​Source: LandPark Advisors​

LandPark Advisors
Houston-The Woodlands-Sugar Land
Office
Check {Source} for more information
131K-sf Concourse at Westway trades hands 131K-sf Concourse at Westway trades hands https://www.recenter.tamu.edu/news/newstalk-texas/?Item=237122020-01-15T06:00:00Z2020-01-17T00:00:00Z

​​​​Image of the property with clear skies in the back ground and two large trees out front. HOUSTON – Griffin Partners has purchased Concourse at Westway, a two-story, 130,223-sf office building at 4700 W. Sam Houston Pkwy. N. 

Completed in 1999, the Class B property is currently 56 percent leased. 

The value-add property is on 11 acres in Westway Park. 

​JLL marketed the property on behalf of the seller, EverWest.

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

​Source: JLL​

JLL
Houston-The Woodlands-Sugar Land
Office
Check {Source} for more information
The Grove Frisco phase two underwayThe Grove Frisco phase two underwayhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=237142020-01-15T06:00:00Z2020-01-16T23:00:00Z

​​​​​A patio within The Grove Frisco communityFRISCO – Newland Communities and North America Sekisui House LLC are gearing up for the second phase of The Grove Frisco community.

​The 735-acre project on S. Custer Rd. near the Sam Rayburn Tollway opened last sum​​​​​mer. Three-thousand homes are planned for the community.

The second phase will have patio homes, townhomes, luxury apartments, retail, and restaurants.​

JPI will build the 424-unit apartment community at the southwest corner of Main St. and Custer Rd. The eight-building apartment complex was designed by JHP Architecture.

The townhome community will have 129 units.​

American Legend Homes, Drees Custom Homes, Highland Homes, and Southgate Homes are building in the community.

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

Dallas Morning News
Dallas-Fort Worth-Arlington
Housing
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12-story mixed-use tower replaces Still Golden building12-story mixed-use tower replaces Still Golden buildinghttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=237082020-01-14T06:00:00Z2020-01-16T22:00:00Z

​​​​​Rendering of mixed-use tower that will replace the Still Golden buildingSAN ANTONIO – The Still Golden Social House building is being transformed into a 12-story mixed-use tower that will house Jefferson Bank's new headquarters.  

The development at 1900 Broadway St. will have​​​ 190,000 sf of office space and 15,000 sf of retail on the ground floor.

Construction will begin in second quarter 2020 and wrap up in 2022. 

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


San Antonio Business Journal
San Antonio-New Braunfels
Mixed-Use
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Cielo buys downtown Brazos Lofts for redevelopmentCielo buys downtown Brazos Lofts for redevelopmenthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=237132020-01-15T06:00:00Z2020-01-16T20:00:00Z

Street view of Brazos Loft at 411 Brazos St.AUSTIN – Cielo Property Group has purchased Brazos Lofts at 411 Brazos St. for future redevelopment.

The new owner plans to build an 885,200-sf high-rise tower on the .81-acre site at the southeast corner of Brazos and Fifth Streets.

According to Towers Austin, the property was purchased for $55 million.

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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Boutique office park opens in Las ColinasBoutique office park opens in Las Colinashttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=237072020-01-14T06:00:00Z2020-01-16T19:00:00Z

​​​​Phase I of Westridge ParkIRVING – T2V Properties LLC has completed the first phase of Westridge Park, a boutique office development at 1410 N. Westridge Circle.

The three-story building was completed in December 2019 and has 34,000 sf of Class A office space for lease.

Groundbreaking for the 88,000-sf Phase II is set for summer 2020.

CBRE is handling leasing​.​

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

Source: CBRE​​​​​​​
CBRE
Dallas-Fort Worth-Arlington
Office
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Robust job growth boosts DFW office sectorRobust job growth boosts DFW office sectorhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=237042020-01-14T06:00:00Z2020-01-16T01:00:00Z

​​​​DALLAS-FORT WORTH – North Texas' robust job growth of 107,300 nonfarm jobs (2.9 percent annually) since October 2018 has driven the area's office market.

Net absorption grew 1.5 million sf over the quarter, totaling 3.5 million sf for 2019, the third highest for the decade. The metro had 31 million sf of net absoprtion since 2010.


Vacancy dropped only slightly to 20.3 percent despite the large positive absorption figure, largely due to 1.9 million sf of inventory introduced to the market.

There are currently 28 leased projects in the construction pipeline, totaling 4.6 million sf with a preleased rate of 30.7 percent. The average asking rate was $25.17 per sf at the end of the year. 

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

Source: CBRE
CBRE
Dallas-Fort Worth-Arlington
Office
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Houston Methodist Clear Lake phase one breaks groundHouston Methodist Clear Lake phase one breaks groundhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=237002020-01-14T06:00:00Z2020-01-15T23:00:00Z

​​​Rendering of the project.NASSAU BAY – Hoar Construction has broken ground on the Houston Methodist Clear Lake Medical Office Building, a 158,000-sf project at 18300 Houston Methodist Dr. 

The six-story building will house orthopedics and sports medicine practices. Two floors will be devoted to physical therapy and a sports medicine gym and clinic. 

The ​building is the first phase of the hospital’s master-planned site.​​​

C​​​ompletion is scheduled for first quarter 2021. ​

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

​​​Source: REBusiness Online

REBUSINESS
Houston-The Woodlands-Sugar Land
Medical
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DFW industrial demand tops 20M sf for fourth successive yearDFW industrial demand tops 20M sf for fourth successive yearhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=237022020-01-14T06:00:00Z2020-01-15T23:00:00Z

​​​​​​​DALLAS-FORT WORTH – Last year, 2019, marked the fourth consecutive year DFW's industrial market topping 20 million sf of positive net absorption.

DFW Industrial Market (annual)According to CBRE, annual absorption totaled 23.7 million sf. 

The marketwide vacancy rate increased by 19 basis points and closed the year at 5.8 percent, below the long-term average vacancy rate of 8 percent.

The construction pipeline pulled back over the quarter and totaled 23.5 million sf at the end of 2019.

Quarter deliveries totaled ten million sf and were 63.2 percent pre​leased. Annual deliveries totaled 25.1 million sf and had an average preleased rate of 63.4 percent.

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

Source: CBRE​
CBRE
Dallas-Fort Worth-Arlington
Industrial
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JV acquires 171K-sf River Oaks Bank Building JV acquires 171K-sf River Oaks Bank Building https://www.recenter.tamu.edu/news/newstalk-texas/?Item=237012020-01-14T06:00:00Z2020-01-15T22:00:00Z

​​​​​​HOUSTON – A joint venture between Fuller Realty Partners and Independencia Asset Management has acquired The River Oaks Bank Building, a 170,233-sf office building at 2001 Kirby Dr.

The deal includes the recently​ renovated 14-story building, an attached 323-space parking garage, and 185 surface parking spaces.

JLL represented the seller, a client of L&B Realty Advisors LLP, and arranged acquisition financing on behalf of the buyer.​​

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

​Source: REBusiness Online​

REBUSINESS
Houston-The Woodlands-Sugar Land
Office
Read more at {Source}
Hawaiian Falls water park waves in new $500K attractionHawaiian Falls water park waves in new $500K attractionhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=236952020-01-13T06:00:00Z2020-01-15T21:00:00Z

One of the attractions at the Hawaiian Falls water park​​WACO – The city has approved waiving $500,000 in rent over seven years for the Hawaiian Falls water park to offset the cost of a new 12-slide attraction.

The attraction will be a 10,000-sf play structure with water guns, tipping buckets, and other activities. It will also have new seating and cabanas. 

It will replace the sprayground, a playground with water features. ​​

The project will ​open before Memorial Day.  

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

Waco Tribune-Herald
Waco
Retail
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El Paso industrial market hits record-low vacancy, record-high rents El Paso industrial market hits record-low vacancy, record-high rents https://www.recenter.tamu.edu/news/newstalk-texas/?Item=237062020-01-14T06:00:00Z2020-01-15T21:00:00Z

​EL PASO – The local industrial market closed out the year with record-low vacancy and record-high rents, according to CBRE.

Fourth quarter data for El Paso's industrial market

High levels of activity decreased vacancy to 4 percent. Class A vacancy fell to 8.2 percent, a record low for the current cycle.

Net absorption for the quarter fell to 222,734 sf but remained above the ten-year quarterly average.

Decreasing availability has pushed marketwide average asking rents to $5.07 per sf, a $0.69 per sf increase from last year.   

There is 706,000 sf of space under construction.

Texas logoThe Real Estate Center has more news like this:

Source: CBRE
CBRE
El Paso
Industrial
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Montfort Capital Partners picks up 41K-sf storage facilityMontfort Capital Partners picks up 41K-sf storage facilityhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=237032020-01-14T06:00:00Z2020-01-15T20:00:00Z

​​Side view of Kyle Parkway Self Storage & Mini Offices at 5141 Cromwell Dr. KYLE – Dallas-based Montfort Capital Partners has purchased Kyle Parkway Self Storage & Mini Offices at 5141 Cromwell Dr.

Built in 2015, the six-building facility offers 305 units totaling​ 41,283 net rentable sf. It also features seven mini offices and 23 outdoor parking spaces. 

Marcus & Millichap arranged the transaction on behalf of the seller.

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

​Source: REBusiness Online

REBUSINESS
Texas
Retail
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