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Former chief economist rejoins Center on limited basisFormer chief economist rejoins Center on limited basishttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=257842021-04-13T05:00:00Z2021-04-13T20:00:00Z

​​​​​COLLEGE STATION – After retiring in 2020, Economist Dr. James Gaines has rejoined the Texas Real Estate Research Center staff. 

His new role is a slimmed-down version of his position as chief economist, which he held for five years. Gaines continues making presentations, reviewing manuscripts, and giving media interviews.

Hired as an economist in 2005, Gaines was named chief economist in 2015. 

During his 15 years at the Center, Gaines has specialized in housing and land development issues. He is author of more than 50 Center reports and articles and is the organization’s principal speaker.

His decades of experience included a broad array of professional activities, primarily in real estate research and education, urban economics, land-use analysis and development, and project risk assessment.

In 2019, Gaines was part of the Texas Realtors delegation representing the United States at the MIPIM 30th Engaging the Future conference in Cannes, France.

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
Center News
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Dalfen Industrial planning 1M-sf Mesquite Airport Logistics CenterDalfen Industrial planning 1M-sf Mesquite Airport Logistics Centerhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=257852021-04-13T05:00:00Z2021-04-13T17:00:00Z

​​​MESQUITE – Dalfen Industrial plans to construct two distribution buildings totaling ​one million sf on E. Scyene Rd.

Work will start on the $33 million Mesquite Airport Logistics Center in May.

Completion is set for the first half of 2022.

GSR Andrade Architects designed the project.

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

Dallas Morning News
Dallas-Fort Worth-Arlington
Industrial
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Mansfield storage property changes hands Mansfield storage property changes hands https://www.recenter.tamu.edu/news/newstalk-texas/?Item=257862021-04-13T05:00:00Z2021-04-13T17:00:00Z

​MANSFIELD – Bassdale Investments LLC has acquired Stadium Self Storage, a Class B property totaling​ 43,745 sf across 343 units.

Bellomy & Co. represented t​​he seller, Stadium Self Storage Inc., and procured the Austin-based buyer.

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

Source: Bellomy & Co.
Bellomy & Co.
Dallas-Fort Worth-Arlington
Retail
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362-unit Cypress Creek Apartment Homes to rise in Austin362-unit Cypress Creek Apartment Homes to rise in Austinhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=257872021-04-13T05:00:00Z2021-04-13T17:00:00Z

​AUSTIN – Bonner Carrington is developing Cypress Creek Apartment Homes, a 362-unit multifamily community at 1417 W. Howard Ln. 

The property will have one- to four-bedroom units. 

The apartment will reserve 289 units for those earning​ up to 60 percent of the median area income. 

texaslogo.pngThe Texas Real Estate Research Center has more news like this online for free:
Austin Business Journal
Austin-Round Rock
Multifamily
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160K-sf mixed-use development slated near Apple campus 160K-sf mixed-use development slated near Apple campus https://www.recenter.tamu.edu/news/newstalk-texas/?Item=257882021-04-13T05:00:00Z2021-04-13T17:00:00Z

​​​LEANDER – Ronald Reagan Crossing LLC is breaking ground on Ronald Reagan Crossing, a 160,000-sf mixed-use development at 15101 Ronald E. Reagan Blvd. north of Apple's new campus.

The first phase will include:

  • 38,235 sf of office space across two buildings,

  • 43,125 sf of retail space across two buildings, 

  • a daycare, and 

  • drive-through restaurant. 

An additional 60,000 sf will be added in a separate phase. Zoning is in place to allow a hotel.

Construction begins this month and will be complete by the end of 2022. 

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

​​​Source: Austin Business Jo​urnal

Austin Business Journal
Austin-Round Rock
Mixed-Use
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Houston multifamily trades handsHouston multifamily trades handshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=257892021-04-13T05:00:00Z2021-04-13T17:00:00Z

​​​​SPRING – ​An entity managed by CDC Houston has purchased Mark at CityPlace Springwoods Village, a 268-unit apartment complex at 1600 Springwoods Plaza Dr. 

Designed by WGW Architects and built in 2017, the property has one- to three-bedroom floor plans ranging from 572 to 1,599 sf. 

Amenities include a pool, outdoor kitchen, fitness center, demonstration kitchen, library, conference rooms, and club area. 

The seller, a subsidiary of Martin Fein Interests Ltd., will continue to manage the property. 

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

​Source: REBusiness Online

REBUSINESS
Houston-The Woodlands-Sugar Land
Multifamily
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Lexicon Pharmaceuticals signs for new corporate HQLexicon Pharmaceuticals signs for new corporate HQhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=257902021-04-13T05:00:00Z2021-04-13T17:00:00Z

​​THE WOODLANDS – Lexicon Pharmaceuticals has signed a 25,288-sf lease for its new corporate headquarters at 2445 Technology Forest Blvd.

The deal comes after Lexicon sold its corporate campus at the end of last year.

NAI Partners represented the tenant. ​

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

​Source: NAI Partners

NAI Partners
Houston-The Woodlands-Sugar Land
Office
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Stonemont takes 29 acres for 500K-sf warehouse Stonemont takes 29 acres for 500K-sf warehouse https://www.recenter.tamu.edu/news/newstalk-texas/?Item=257792021-04-12T05:00:00Z2021-04-12T19:00:00Z

​​​FORT WORTH – Stonemont Financial Group has purchased 29.2 acres for a two-building speculative warehouse project totaling 500,000 sf.

The project at 12901 Harmon Rd. will deliver in first quarter 2022.

Lee & Associates DFW represented the seller, LCT Properties. The buyer was represented internally. 

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

Source: Lee & Associates
Lee & Associates
Dallas-Fort Worth-Arlington
Industrial
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That's a wrap for Lake Highlands HS renovationThat's a wrap for Lake Highlands HS renovationhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=257802021-04-12T05:00:00Z2021-04-12T19:00:00Z

​​​RICHARDSON – Cadence McShane Construction has completed an addition and renovation project on Lake Highlands High School for Richardson Independent School District. 

Designed by HKS, the project included:

  • a multipurpose activity center with a​ 78,000-sf indoor practice facility (including an 80-yard practice field) and a 24,000-sf Class A structure with offices, locker rooms, and sport support areas;

  • 144,000-sf “HUB” addition with expanded cafeteria and kitchen, common spaces, learning stairs, and library; and

  • two-story ICF storm shelter addition.

Texas logoThe Texas Real Estate Research Center​​​​ has more Dallas-area education news​ online for free. 

​​Source: Cadence McShane 

Cadence McShane Construction
Dallas-Fort Worth-Arlington
Education
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Work underway on apartments in PorterWork underway on apartments in Porterhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=257812021-04-12T05:00:00Z2021-04-12T19:00:00Z

​​PORTER – The Woodlands-based The Signorelli Co. has started construction on The Gregory Apartments, a 269-unit multifamily community within the Valley Ranch master-planned community.

The property will have one- and two​-bedroom units averaging 900 sf. Amenities will include a pool, fitness center, social lounge areas, business center, and direct access to several acres of open green space. 

The first units will be available for occupancy later this year.

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

​Source: REBusiness Online​​

REBUSINESS
Houston-The Woodlands-Sugar Land
Multifamily
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Crunch time: Gym opening at former Michaels storeCrunch time: Gym opening at former Michaels storehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=257822021-04-12T05:00:00Z2021-04-12T19:00:00Z

​SUGAR LAND – New York-based Crunch Fitness is opening a 30,240-sf gym at a former Michaels store at the 410,000-sf First Colony Commons retail center. 

Opening is set for Oct. 1, 2021. ​

Houston-based NewQuest Properties represented the tenant. Wulfe & Co. represented the landlord, a Dallas-based entity doing business as TPP 306 First Colony LLC. 

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
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Columbus industrial project soldColumbus industrial project soldhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=257832021-04-12T05:00:00Z2021-04-12T19:00:00Z

​COLUMBUS – Los Angeles-based DWG Capital Partners has acquired a light in​dustrial facility at 1317 Business Hwy. 71 N.

The 35,835-sf​ property was acquired from The Theut Co. in a sale-leaseback transaction. 

SAB Capital represented the tenant. Washington Federal Bank provided acquisition financing.

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

​Source: REBusiness Online​​

REBUSINESS
Houston-The Woodlands-Sugar Land
Industrial
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Texas jobless claims drop after three consecutive increasesTexas jobless claims drop after three consecutive increaseshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=257782021-04-12T05:00:00Z2021-04-12T18:00:00Z

​​​​​​​​COLLEGE STATION – Initial jobless claims in Texas decreased to 79,900 the week ending April 3 after three straight weeks of increases.

​​About 4.9 million unemployment claims h​ave been filed since​ March 21, 2020, according to U.S. Department​ of Labor (DOL) data. 

Continuing unemployment claims decreased to​ 314,900 the week ending March 27.

"The U.S. labor market seems equipped to hire currently unemployed people as the number of job openings continues to rise back to pre-pandemic levels," said Dr. Luis Torres, a research economist for the Texas Real Estate Research Center. "The most current numbers for February 2021 have job openings at 7.4 million."

According to Torres, there were 9.7 million unemployed people through March 21. After subtracting the average number of people unemployed before the pandemic (six million), there are 7.4 million job openings versus 3.7 million unemployed, a ratio of two to one. This ​exercise does not consider issues like skill mismatches. 

"For the labor market to fully recover going forward, significant downward movement in initial and continuing claims needs to happen, given that claims levels remain high," 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, increased considerably the week ending April 3.​

​Last week, U.S. initial claims increased to 743,600, bringing the 55-week total to 79 million. 

Fewer people in most of Texas' major and border ​metros filed new unemployment claims the week ending March 27. The exception was Laredo, which registered its third weekly increase in a row.

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, 1.12 million claims;

  • ​​Dallas-Fort Worth-Arlington, 1.08 million claims;

  • San Antonio-New Braunfels, 330,900 claims;

  • Austin-Round Rock, 278,300 claims;

  • McAllen-Edinburg-Mission, 133,000​ claims;

  • El Paso, 114,500 claims;

  • Brownsville-Harlingen, 58,700 claims; and

  • ​​Laredo, 33,2​​00​ 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.

Healthcare and social assistance registered the highest number of initial claims the week ending March 27. That sector was followed by educational services, retail trade, and administrative/support/waste management/remediation services.

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
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Jordan Foster building 16-story The FloodgateJordan Foster building 16-story The Floodgatehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=257742021-04-09T05:00:00Z2021-04-09T18:00:00Z

​​​S​AN ANTONIO – Jordan Foster Construction is building The Floodgate, a 16-story mixed-use tower at 139 E. Commerce St. 

The building will include 60 luxury apartments, 10,000 sf of River Walk restaurant space, and a 56-space automated parking system. 

Occupancy is set for March 2022 with commercial finish-outs beginning around October.

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

San Antonio Business Journal
San Antonio-New Braunfels
Mixed-Use
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$75M Allegiant Travel operations center landing at Austin airport $75M Allegiant Travel operations center landing at Austin airport https://www.recenter.tamu.edu/news/newstalk-texas/?Item=257752021-04-09T05:00:00Z2021-04-09T18:00:00Z

​​AUSTIN – Allegiant Travel is developing a $75 million operations center at Austin-Bergstrom International Airport’s South Terminal. 

The center will create 89 jobs.    

Construction will begin on Nov. 18, 2021.

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

Austin American-Statesman
Austin-Round Rock
Office
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Giglio Distributing expands in BeaumontGiglio Distributing expands in Beaumonthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=257762021-04-09T05:00:00Z2021-04-09T18:00:00Z

​​​​BEAUMONT – Catamount Constructors and HDA Architects have completed a 61,300-sf industrial expansion project for Giglio Distributing. 

The project added a 40,000-sf warehouse, 12,800-sf receiving dock area, 5,900-sf side bay loading area, 1,600 sf of office space, and 800-sf customer pickup space. 

Prior to the expansion, the facility included 74,000 sf of warehouse and office space. 

Texas logoHead to the Center's website for more Beaumont-Port Arthur real estate news.

​Source: REBusiness Online​​
REBUSINESS
Beaumont-Port Arthur
Office
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Supply-side factors weigh on Texas’ manufactured housing industry optimismSupply-side factors weigh on Texas’ manufactured housing industry optimismhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=257772021-04-09T05:00:00Z2021-04-09T18:00:00Z

​​COLLEGE STATION – Prices paid for raw materials soared for the fourth consecutive month, according to the latest Texas Manufactured Housing Survey (TMHS), with a spike in supply-chain disruptions and increased regulatory burden. 

Rob Ripperda, vice president of operations for the Texas Manufactured Housing Association (TMHA), noted, “The U.S. Department of Housing and Urban Development (HUD) announced building-code changes in January that were scheduled to go into effect on March 15, forcing manufacturers to gear up for making a switch while also dealing with supplier shortages and lengthy backlogs. Fortunately, HUD has extended the effective date of implementation to July 21, giving manufacturers time to recover from the impacts of both the pandemic and Winter Storm Uri."

While manufacturers do not expect additional regulation in the next six months, there are no signs of reduced pricing pressure. Moreover, manufacturers observed slower growth in the labor supply as well as higher labor costs.

Survey data indicate a sluggish start to the spring season, with the volume of new orders and sales flattening. Backlogs remained elevated but showed initial signs of improving through summer.

"We still aren’t seeing much reduction in supply-chain bottlenecks," said Dr. Harold Hunt, research economist at the Texas Real Estate Research Center. “This is becoming a significant drag on the manufacturing process from end to end. If companies can’t make informed decisions about product deliveries to and from their factories, we may see more business uncertainty in the months ahead."

This sentiment was reflected in the March TMHS as the uncertainty index worsened for the second straight month. While industry optimism has waned during the first quarter, the overall outlook remains positive across the industry.

The Center and TMHA partner to produce a monthly survey of business conditions and expectations surrounding the manufactured housing industry.

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
Housing
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Technical Transportation inks lease at Southlake Business ParkTechnical Transportation inks lease at Southlake Business Parkhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=257722021-04-09T05:00:00Z2021-04-09T17:00:00Z

​​SOUTHLAKE – Technical Transportation has signed a 39,812-sf industrial lease at Southlake Business Park at 415 Bank St.

Lee & Associates DFW represented the tenant. The landlord, Southlake Industrial, was represented by Holt Lunsford Commercial.

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

Source: Lee & Associates
Lee & Associates
Dallas-Fort Worth-Arlington
Industrial
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300-unit workforce housing coming to SA300-unit workforce housing coming to SAhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=257732021-04-09T05:00:00Z2021-04-09T17:00:00Z

​​​SAN ANTONIO – Cohen-Esrey Development is developing a 300-unit mixed-income apartment complex at 3623 E. Commerce St. 

The four-story workforce housing building will feature one- to three-bedroom units. 

Amenities will include a pool, courtyard, and connection to the Salado Creek Trail. 

Construction will begin this year and be complete in 14 months. 

Southtown Engineering is the civil engineer. 

texaslogo.pngThe Texas Real Estate Research Center has more news like this online for free:
San Antonio Business Journal
San Antonio-New Braunfels
Multifamily
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Mixed-use project blooming in MagnoliaMixed-use project blooming in Magnoliahttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=257702021-04-08T05:00:00Z2021-04-08T17:00:00Z

​​​MAGNOLIA – Gulf Coast Commercial is developing Magnolia Village, a 60-acre mixed-use project along Spur 149.

The project that will feature residential, office, retail, and restaurant uses.

The 36-acre first phase will include office and retail elements as well as 300 multifamily units. Phase I will deliver in fall 2022.

Ironbridge Realty will market the retail and restaurant space for lease. 

Gulf Coast purchased the site from Houston-based Parkside Capital.

Texas logoTheTexas Real Estate Research Center has more information​ like this online:

​​Source: REBusiness Online

REBUSINESS
Houston-The Woodlands-Sugar Land
Mixed-Use
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