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Top-selling master-planned communities: mid-year 2018Top-selling master-planned communities: mid-year 2018https://www.recenter.tamu.edu/news/newstalk-texas/?Item=206262018-07-17T05:00:00Z2018-07-18T00:55:00Z

​​​​U.S. – Every year since 1994, RCLCO has conducted a national survey identifying the top-selling MPCs (Master-Planned Communities) through a rigorous search of high-performing communities in each state. 

In this update for mid-year 2018, we have surveyed MPCs throughout the country to establish the updated rankings following the release of The Top-Selling Master-Planned Communities of 2017.

The list below is NOT comprehensive so check them all out here! See Sienna Plantation, Missouri City, for an example​.


Online news
U.S.
Housing
https://www.mystatesman.com/business/austin-hotel-market-state-strongest/olcuDjEqSkIca7GKxsgxlO/?ref=cbTopWidget



Source: {Source}
Apartment mismatch: San Antonio's renters the pickiestApartment mismatch: San Antonio's renters the pickiesthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=206162018-07-17T05:00:00Z2018-07-17T23:55:00Z

​​​SAN ANTONIO – America’s pickiest renters hail from none other than Alamo City.

San Antonio renters have the biggest list of demands when it comes to choosing a property, according to the report "Rental Mismatch​" from Apartment List.


According to the data, San Antonio renters can afford to be choosy.

The city is one of the most affordable places to rent in the nation, with median rent on a two-bedroom apartment at just $1,050.

Across the nation, renters have to give up creature comforts, though—even in affordable San Antonio, where just 63 percent of properties offer air conditioning.

In addition, half of San Antonio renters want in-unit laundry, but just 12 percent of local properties have it. Remember, San Antonio is home to ​numerous military installations including Fort Sam Houston, ​Camp Bullis, JBSA-Randolph​ and more.
Forbes.com
San Antonio-New Braunfels
Multifamily
https://www.forbes.com/sites/alyyale/2018/07/06/this-texas-city-claims-the-nations-most-demanding-renters/#1b1f1c1a7635

​Check out San Antonio-New Braunfels Multifamily Market Research.

Read more at {Source}
Austin's retail 'hotter than a preacher's knees'Austin's retail 'hotter than a preacher's knees'https://www.recenter.tamu.edu/news/newstalk-texas/?Item=206212018-07-17T05:00:00Z2018-07-17T23:45:00Z

​​​Retail Occupancy for 4 Texas Cities: Austin, DFW, Houston, and San Antonio—from the Weitzman AUSTIN – Despite several recent high-profile closures—and more still on the horizon—the Central Texas retail sector is red hot.

Weitzman's mid-year ​2018 retail report "The Texas Snapshot" found that Austin’s 96.1 percent retail occupancy rate is the highest in the state—and one of the best in the nation.

Britt Morrison, senior vice president in Weitzman’s Austin office, does not many of those newly vacant spots expect to stay empty for long, considering a relatively small amount of new retail space in the development pipeline.

In addition, the space crunch means rents will continue to rise.

“This is the third or fourth year in a row with minimal new construction, so we’re continuing to see rental rates increase,” he said. “Austin is tops among Texas’ major metros, yet the market still reports only 700,000 sf being added this year to an inventory of 49.5 million sf. That’s between one and 2 percent increase total in leasable space, hence the rising rates across the state.”​​
Austin American-Statesman
Austin-Round Rock
Retail
https://www.mystatesman.com/business/report-austin-state-healthiest-retail-market/UZXroQCgrEcqBiTsdvf9JI/

​​Check out more 2Q 2018 Austin-Round Rock Retail Market Research.

Read more at the {Source}
Houston office sector: increasing vacancy, leasing volumeHouston office sector: increasing vacancy, leasing volumehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=205952018-07-17T05:00:00Z2018-07-17T23:25:00Z

Availability Rate Comparison: Houston SubmarketsGREATER HOUSTON – Although deal volume is up slightly in region’s office market, the sector's vacancy and sublease rates are continuing to creep upward, according to Savills Studley's “Houston Office Sector Report: 2Q 2018.”

The area’s overall office market vacancy rate increased to 28.2 percent in 2Q 2018, a modest increase from first-quarter's rate of 27.7 percent.

That is only a 1.8 percent increase in availability, which is promising, since the amount of leasing volume increased 6.7 percent quarter-over-quarter to 3.2 million sf.

Currently 9.5 million sf of sublease space is available in Houston.

The availability of Houston office space exceeds 20 percent in most submarkets, as energy companies continue to reshuffle their footprints and either downsize or relocate to newer office space.

Houston Business Journal
Houston-The Woodlands-Sugar Land
Office
https://www.bizjournals.com/houston/news/2018/07/10/despite-steady-deal-flow-houstonoffice-vacancy.html

Check out more Houston-The Woodlands-Sugar Land Office Market Research​.

Read more at the {Source}
Old, but sold: North Texas multifamily portfolioOld, but sold: North Texas multifamily portfoliohttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=205812018-07-17T05:00:00Z2018-07-17T23:15:00Z

​​DFW – Exponential Property Group acquired an eight-property, 2,048-unit portfolio in North Texas from Canadian-based Berezan Investments. 

The portfolio traded for the first time in 28 years.​

Built between 1977 and 1985, most of the communities in the Quality Estates Value-Add Portfolio feature swimming pools, parking spaces, playgrounds, and laundry facilities. 

The properties included in the transaction are located in the following cities:

Quality Estates Value-Add Portfolio.Arlington:
  • Cedar Point of Ar​​lington, 272 units.

Fort Worth

  • The Woodlands, 346 units;
  • Marine Creek, 248 units;
  • Normandale Manor, 122 units;
  • Emerald Hills, 276 units.

Garland:

  • Pecan Knoll, 358 units;
  • Broadway Manor, 134 units.

Grand Prairie:

  • Quail Ridge, 292 units.
Multi-Housing News
Dallas-Fort Worth-Arlington
Multifamily
https://www.multihousingnews.com/post/ipa-brokers-2000-unit-texas-portfolio-deal/

S​ee also: Dallas-Fort Worth-Arlington Multifamily Market Research​.

Source: {Source}
Big Bend ghost town hits the marketBig Bend ghost town hits the markethttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=205472018-07-17T05:00:00Z2018-07-17T22:45:00Z

​​​​​The main house at The Villa de la Mina, a ghost town in Terlingua, which is near Big Bend in West Texas. The Villa de la Mina is for sale for $1.75 million.TERLINGUA, BREWSTER COUNTY – A 62-acre town with all the amenities of an early 1900s village recently hit the market for $1.75 million.

The Villa de la Mina, a ghost town in Terlingua, has about 20 standing buildings, each with rock walls and cement floors.

Near Big Bend National Park in West Texas, it includes the largest mine in the area with a railroad track entering it.​

On the property are normal resort amenities: a two-story hotel, private cabins, several fireplaces, and a pool. 

Then there are the reminders that The Villa was built a hundred years ago: the reptile-holding tank, a reinforced-door dynamite shack, an outdoor oven.
San Antonio Express-News
El Paso
Land
https://www.expressnews.com/business/local/article/West-Texas-ghost-town-hits-the-market-13048010.php#photo-15819384Read more at the {Source}
Incoming 660-home subdivision to KilleenIncoming 660-home subdivision to Killeenhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=205962018-07-17T05:00:00Z2018-07-17T22:35:00Z

​​​Heritage Oaks ​KILLEEN – Homes are beginning to pop up in the 660-home Heritage Oaks subdivision on Chaparral Rd. near the border of Killeen and Harker Heights.

According to Carothers Homes, the homebuilder in the subdivision, the largest homes will cost around $300,000 and be up to 2,000 sf in size.

The subdivision is at the intersection of a number of ongoing and future infrastructure projects to expand utility and roadway capacity for incoming residents to that area.

Directly to the east of the subdivision, the City of Killeen is in the construction phase of the $5.3 million Rosewood Dr. extension project that will extend the road south to Chaparral Rd.

The project will install 0.6 miles of road a 284-foot-long bridge over Trimmier Creek.
Killeen Daily Herald
Killeen-Temple
Housing
http://kdhnews.com/news/local/new-subdivision-at-center-of-infrastructure-projects/article_766d1c7e-80a3-11e8-a813-2fe7426e21c2.htmlRead more at the {Source}
The Noah’s Ark of NW Houston’s commercial space The Noah’s Ark of NW Houston’s commercial space https://www.recenter.tamu.edu/news/newstalk-texas/?Item=206232018-07-17T05:00:00Z2018-07-17T22:20:00Z

​​​Aerial image of where the property is located at.​WALLER, WALLER COUNTY – Houston-based Wolff Cos. acquired 521 acres in northwest Houston and is planning a major development with light industrial, office, and single-family homes—all of which sits high above sea level.

Named Beacon Hill, the $15-$20 million flood-resistant business park is located on one of the highest points of elevation in the Houston region, situated 300 feet above sea level.

The project is located right off US 290 and Farm to Market Rd. 362.

In addition, the company sold 270 acres to Houston-based Long Lake Ltd., a single-family home developer that's planning to build 1,000 homes on the land.
Houston Business Journal
Houston-The Woodlands-Sugar Land
Mixed-Use
https://www.bizjournals.com/houston/news/2018/07/12/exclusive-houston-developer-acquires-500-acres.htmlRead more at the {Source}
Retail, land, and industrial dealsRetail, land, and industrial dealshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=205802018-07-17T05:00:00Z2018-07-17T22:00:00Z

HANLEY INVESTMENT GROUP REAL ESTATE ADVISORS Renaissance Square spans 105,605 square feet.DALLAS-FORT WORTH – Albanese Cormier Holdings purchased the 105,605-sf Renaissance Square shopping center located at 2700 Renaissance Dr. in Fort Worth.

The 20.67-acre property, built in 2014, was 98.5 percent occupied at the time of its purchase.

​Other deals include:

Land

  • MESQUITE: YA Live Oak Landholdings LLC sold 16.49 acres at 2749 I-30 to T&T Realty Corp. 

Industrial

  • FARMERS BRANCH: LCG Spring Valley LLC has purchased Spring Valley Tech Center, a 61,139-sf flex property at 4200–4288 Spring Valley Rd.​
  • CARROLLTON: Hobby products company MMD Holdings LLC d.b.a. Squadron has renewed its lease for 50,979 sf at 1115 Crowley Dr. 
Dallas Business Journal
Dallas-Fort Worth-Arlington
Retail
https://www.bizjournals.com/dallas/news/2018/07/06/albanese-cormier-holdings-renaissance-square.html

​Check out more DFW Real Estate News here​.

Source: {Source}
U.S. Army to locate Futures Command in AustinU.S. Army to locate Futures Command in Austinhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=206192018-07-17T05:00:00Z2018-07-17T21:50:00Z

​AUSTIN – Austin will be home to the U.S. Army Futures Command​, the Department of Defense has announced—making it one of the most substantial centers of private-sector military activity outside Washington D.C.

The Futures Command joins DIUx, the Pentagon’s innovation section, and AFWERX, the Air Force’s innovation and research hub—both of which are based at Capital Factory.

Federal research dollars to area universities and the opening of Central Texas offices by companies looking to work with the military are two of the economic benefits regional leaders may expect.

Army officials describe the Futures Command as the military branch’s most significant reorganization since 1973.

Its job is to modernize the Army, leveraging “private sector innovation, cutting-edge science and technology, prototyping and demonstrations, and warfighter testing and feedback,​​​” according to Army officials.

The command is projected to employ about 500 members of the armed services and civilians.

It will be led by a four-star general and should be fully up and running by summer 2019.​
Austin Business Journal
Austin-Round Rock
Military
https://www.bizjournals.com/austin/news/2018/07/12/austin-lands-army-futures-command-a-nerve-center.htmlRead more at the {Source}
CBRE: Austin office market resilientCBRE: Austin office market resilienthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=206372018-07-17T05:00:00Z2018-07-17T17:00:00Z

​​AUSTIN ​​​– ​​The local office market continued to expand in second quarter 2018. 

According to a CBRE report, the average asking rent hit $35.84 per sf, a historic high. ​​

Vacancy and absorption also grew in the second quarter, hitting 10.7 percent and 76,902 sf, respectively. 

There was almost 4.2 million sf of office space under construction across the metro. Nearly 580,000 sf was delivered. 

CBRE
Austin-Round Rock
Office
Read more at {Source}
Dallas-area million dollar home sales down in second quarterDallas-area million dollar home sales down in second quarterhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=206382018-07-17T05:00:00Z2018-07-17T17:00:00Z

DALLAS ​​– ​Last quarter, 357 North Texas homes priced at a million dollars or more changed hands. 

That's down 4 percent over the year, according to Coldwell Banker. ​

But during that same time, median prices for luxury homes rose almost 5 percent to $1.47 million. ​

Coldwell Banker reports that DFW million dollar homes sold in an average of 69 days. Last year, it took 80 days. ​​

Sellers received an average of 93.6 percent of their asking price, up slightly from 93.3 percent in second quarter 2017. ​​​The most expensive​ second quarter sale was a $13.5 million estate in Dallas. 

For the first half of the year, North Texas luxury home sales are still up about 4 percent with 896 sales. 

Sixteen area homes priced at $10 million or more are on the market now, according to Realtor.com.

Dallas Morning News
Dallas-Fort Worth-Arlington
Housing
https://www.dallasnews.com/business/real-estate/2018/07/16/fewer-dallas-area-million-dollar-homes-sold-second-quarterRead more at {Source}
Fein buys land for 304-unit Post Oak apartment complexFein buys land for 304-unit Post Oak apartment complexhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=206302018-07-17T05:00:00Z2018-07-17T16:00:00Z

​​HOUSTON – Locally based Fein has acquired 3.3 acres for the development of Reverie at River Hollow. ​​

The 304-unit apartment community offers one-, two- and three-bedroom floor plans ranging from 558 to 1,966 sf. It was designed by Steinberg Dickey Collaborative. 

Groundbreaking is set for August, and completion is scheduled for fourth quarter 2020.

JLL brokered the land sale. ​​​

REBUSINESS
Houston-The Woodlands-Sugar Land
Multifamily
http://rebusinessonline.com/fein-to-develop-304-unit-apartment-community-in-houstons-post-oak-submarket/Read more at {Source}
23-story senior-living community underway23-story senior-living community underwayhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=206312018-07-17T05:00:00Z2018-07-17T16:00:00Z

​​​HOUSTON – Tradition Senior Living LP has broken ground on the Tradition-Woodw​​ay, a 23-story, high-rise, senior-living rental community.

The tower at 6336​ Woodway Dr. ​​will include 222 independent-living units and 92 assisted-living/memory-care units.

Completion is set for ​April 2020. The on-site information center will open in fourth quarter 2018. 

Jackson & Ryan Architects is the architect. D.E. Harvey Builders is the general contractor.

Tradition Senior Living
Houston-The Woodlands-Sugar Land
Senior Living
Read more at {Source}
Frisco, McKinney among best cities for first-time homebuyersFrisco, McKinney among best cities for first-time homebuyershttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=206322018-07-17T05:00:00Z2018-07-17T16:00:00Z

​​​WASHINGTON – Frisco and McKinney have ranked seventh and eighth, respectively, on WalletHub's list of the 2018's best cities for first-time homebuyers. 

Frisco ranked second in real estate market "hotness" and 44th in quality of life. It was 152nd in affordability. 

McKinney ranked first​​ in real estate market "hotness." It was 42nd in quality of life and 165 in affordability. 

Last year, 38 percent of all U.S. single-family home purchases were made by first-time buyers, according to WalletHub.  

The rest of the top ten are:

  • No. 1 Broken Arrow, Okla.;

  • No. 2 Tampa, Fla.;​

  • No. 3 Centennial, Colo.;

  • No. 4 Boise​, Idaho;

  • No. 5 ​Grand Rabids, Mich.;​

  • No. 6 Thornton, Colo.;

  • No. 9 Cary, N.C.; and 

  • No. 10 Gilbert, Ariz. 

WalletHub
Dallas-Fort Worth-Arlington
Housing
https://wallethub.com/edu/best-and-worst-cities-for-first-time-home-buyers/5564/Read more at {Source}
Exxon Mobil buys 93 Baytown acresExxon Mobil buys 93 Baytown acreshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=206332018-07-17T05:00:00Z2018-07-17T16:00:00Z

​​BAYTOWN – Irving-based Exxon Mobil​ has purchased 93 acres off Baker Rd. adjacent to its refinery. 

New York-base​​d SI Group Inc. sold the land in two contiguous​ 55-acre and 38-acre tracts. 

The new owner has no immediate plans for the land. 

Houston Business Journal
Houston-The Woodlands-Sugar Land
Land
https://www.bizjournals.com/houston/news/2018/07/13/exclusive-exxon-mobil-buys-nearly-100-acres-in.htmlRead more at {Source}
El Paso industrial rents up in 2Q 2018El Paso industrial rents up in 2Q 2018https://www.recenter.tamu.edu/news/newstalk-texas/?Item=206342018-07-17T05:00:00Z2018-07-17T16:00:00Z

​EL PASO – ​​Industrial rents were up $0.04 over the quarter to $4.06 per sf, according to a new CBRE market ​report. 

Second quarter net absorption tripled to 436,979 sf since last quarter but is still 100,000 sf less than this time last year. Vacancy remained steady at 7.9 percent. 

There was 586,500 sf of industrial space underway across the metro, and 102,189 sf was delivered. 

Class A industrial​ rents hit a new record of $4.50 per sf in second quarter 2018.

CBRE
El Paso
Industrial
Read more at {Source}
Houston medical office market remains strongHouston medical office market remains stronghttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=206352018-07-17T05:00:00Z2018-07-17T16:00:00Z

​​​​​​​​HOUSTON –​​ The metro has the most active medical office pipeline in the southeast with 620,508 sf underway​​​​, according to a CBRE report. 

Completions were down to 189,938 sf​​​​​​​ in first half 2018 while net absorption​​ climbed to 287,299 sf. ​​

Medical office vacancy increased to 12.7 percent​ this year. ​​​​​

CBRE
Houston-The Woodlands-Sugar Land
Medical
Read more at {Source}
19-building Houston industrial portfolio sold19-building Houston industrial portfolio soldhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=206292018-07-17T05:00:00Z2018-07-17T15:00:00Z

​​HOUSTON – California-based Wilson Investment Properties has purchased​ 19 buildings across six area industrial parks.​​

The 460,000-sf portfolio​ is leased to 103 tenants. 

Realty News Report
Houston-The Woodlands-Sugar Land
Industrial
http://realtynewsreport.com/2018/07/17/california-investor-buys-19-houston-industrial-buildings/Read more at {Source}
Flix Entertainment plots in the Far West SideFlix Entertainment plots in the Far West Sidehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=206222018-07-16T05:00:00Z2018-07-17T00:00:00Z

​​​​Flix Entertainment LogoSAN ANTONIO – Flix Entertainment, a Round Rock-based microbrewery and movie theater chain, purchased a vacant plot within a future shopping center on the booming Far West Side.

Flix purchased the 5.9 acres along Loop 1604, three-quarters of a mile south of the Walmart Supercenter on Potranco Rd. from a partnership linked with local development firm Blackburn Properties.

The company identifies San Antonio as one of the markets where it is considering building a movie theater by 2021.
San Antonio Express-News
San Antonio-New Braunfels
Land
https://www.expressnews.com/business/local/article/Round-Rock-theater-chain-enters-San-Antonio-13072734.phpRead more at the {Source}

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