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Uptown Dallas gon' give it to youUptown Dallas gon' give it to youhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=201882018-05-24T05:00:00Z2018-05-24T22:45:00Z

​​​Image of 3131 McKinney AveDALLAS – An affiliate of TIAA-CREF has purchased the 150,000-sf high-rise, located at 3131 McKinney Ave., from Invesco Advisers Inc.

The building, which is more than 80 percent leased, sold for more than $330 per sf. 

Invesco bought the 3131 McKinney building in 2014 and recently completed a $2.25 million renovation of the property.
Dallas Business Journal
Dallas-Fort Worth-Arlington
Office
https://www.bizjournals.com/dallas/news/2018/05/23/pension-fund-investor-buys-uptown-dallas-office.html

​Che​ck out Dallas-Fort Worth-Arlington Office Market Research.

Read more at the {Source}
Children's Health specialty centers on sportsChildren's Health specialty centers on sportshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=201212018-05-24T05:00:00Z2018-05-24T22:30:00Z

​​Image of the New Specialty center at Children's Health Plano​PLANO – Children’s Health Plano, a new specialty center for rehabilitation and prevention of sports injuries, surgery, training, and nutrition is open.

The four-story, 200,000-sf facility houses the hospital’s Andrews Institute for Orthopaedics & Sports Medicine and Sports Performance, a service center, imaging center, and physicians’ clinics.

The new building is located at 7211 Preston Rd.

Community Impact Newspaper
Dallas-Fort Worth-Arlington
Medical
https://communityimpact.com/dallas-fort-worth/plano/development-construction/2018/05/10/childrens-health-plano-hospital-celebrates-opening-of-new-specialty-center-on-preston-road/Read the full article at the {Source}
Icon to HewittIcon to Hewitthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=200442018-05-24T05:00:00Z2018-05-24T22:20:00Z

​​​​Image of the Icon at Hewitt apartment complex.HEWITT – A 256-unit apartment complex, The Icon at Hewitt, has opened at 201 Ritchie Rd.

As previously reported by the Waco Tribune-Herald, the facility was built on 13 acres for $30 million.

The high-end community offers one- and two-bedroom floorplans ranging from $939–$1,339 per month.​​

​In other news, Cracker Barrel Old Country Store chain has broken ground next to Hewitt’s Walmart Supercenter at Sun Valley Blvd. and I-35. ​Opening is planned for November 2018.

Waco Tribune-Herald
Waco
Multifamily
http://www.wacotrib.com/news/business/cracker-barrel-retail-strip-going-up-near-hewitt-walmart/article_077889e1-ac7d-5815-894f-81834fddfe96.htmlSource: {Source}
Building boom to Austin's outskirtsBuilding boom to Austin's outskirtshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=200492018-05-24T05:00:00Z2018-05-24T22:20:00Z

​​​​​DEL VALLE, MANOR – Annual housing starts have steadily climbed in both cities since 2014, yet the market really started heating up in the past of couple years, Metrostudy data show.

In Del Valle, construction has started on 1,020 new homes in the 12-month period ending in first quarter 2018, compared to only 279 home starts in the same period ending in 1Q 2014.

In Manor, housing starts over 12 months hit 1,210 homes in first quarter, up from 502 four years earlier.

Developers say the growth spurt is fueled by buyers’ quest for affordability, as most homes in the new communities range from $200,000–$400,000.

Graph of Manor and Del Valle housing starts since 2014.

Austin Business Journal
Austin-Round Rock
Housing
https://www.bizjournals.com/austin/news/2018/05/03/affordability-crisis-fuels-home-building-boom.htmlSource: {Source}
DFW East Logistics Center sold at 15 percent occupancyDFW East Logistics Center sold at 15 percent occupancyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=200502018-05-25T05:00:00Z2018-05-24T22:00:00Z

image of a building a DFW East Logistics Center​IRVING – Hines has acquired DFW East Logistics Center, a 260,000-sf industrial park located at 4400 and 4450 W. Walnut Hill Ln, from Bradford Commercial Real Estate Services.

Situated on an 18-acre site, the three-building asset features a total of 84 dock-high and six grade-level loading doors, as well as more than 300 parking spaces.

At the time of sale, the property was 15 percent occupied.

Tenants include Universal Health Services and Bisco Industries.

The facilities are situated in the vicinity of President George Bush Turnpike and about six miles from DFW International Airport and I-635.​​

Commercial Property Executive
Dallas-Fort Worth-Arlington
Industrial
https://www.cpexecutive.com/post/hines-expands-dfw-industrial-footprint/

​Check out DFW Industrial Market Research.

Read the full article at the {Source}
Out with the steel, in with the timber frameOut with the steel, in with the timber framehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=201462018-05-28T05:00:00Z2018-05-24T22:00:00Z

Rendering of mass timber frame building ​SAN ANTONIO – The first mass timber frame mixed-use building in Texas, at the intersection of Broadway St. and Eighth St.

The building will be 150,000 gross sf, with 130,000 sf of office space and 10,000 sf of retail on the ground floor.​

The building will also feature underground parking.

The building will use mass timber frame construction in lieu of concrete or steel.

Groundbreaking is expected to occur between late May 2018 and early June 2018, and for construction to last about 18 months.​
San Antonio Business Journal
Dallas-Fort Worth-Arlington
Mixed-Use
https://www.bizjournals.com/sanantonio/news/2018/05/14/exclusive-hixon-properties-investment-chief-talks.html

​Check out​ San Antonio Office Market Research.

Read more at {Source}
Dallas downtown: Still more than 86 acres of vacant landDallas downtown: Still more than 86 acres of vacant landhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=201572018-05-24T05:00:00Z2018-05-24T22:00:00Z

​​​Rendering of The Top 5 cities that have the most vacant land in their Central Business Districts DALLAS – The Big D skyline has a lot more room to grow if researchers have it right.

Dallas already has one of the busiest downtowns with new apartments and retail developments, office buildings opening, and a program to build four new downtown parks.

But there's even more property available to ramp up construction in downtown Dallas, according to a new report by researchers at Yardi Systems Inc.

Downtown Dallas still has more than 86 acres available to build more—the most of more than two dozen U.S. cities Yardi looked at.​
Dallas Morning News
Dallas-Fort Worth-Arlington
Market Overview
https://www.dallasnews.com/business/real-estate/2018/05/17/new-report-dallas-skyline-room-grow-us-cityRead the full article at the {Source}
365-Unit Broadstone Tinsley Park sold365-Unit Broadstone Tinsley Park soldhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=200672018-05-24T05:00:00Z2018-05-24T20:00:00Z

​​The complex is a 365-unit, 311,290-sf luxury multifamily community that is currently 23.3 percent vacant. HOUSTON – Hines has acquired Broadstone Tinsley Park from Crow Holdings at 919 Gillette St.

The complex is a 365-unit, 311,290-sf luxury multifamily community that is currently 23.3 percent vacant.

As part of the deal, the community was renamed Tinsley On The Park. 

CoStar Group
Houston-The Woodlands-Sugar Land
Multifamily
http://www.costar.com/News/Article/Hines-Continues-Multifamily-Expansion-with-Tinsley-Park-Deal/200737Read the full article at {Source}
Harvey hazard costing Lakeside CC $32MHarvey hazard costing Lakeside CC $32Mhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=201782018-05-23T05:00:00Z2018-05-23T22:40:00Z

​​​Image of the entrance sign for Lakeside Country ClubHOUSTON – Lakeside Country Club, located at 100 Wilcrest Dr., will soon break ground on its $32 million rebuild and renovation after sustaining significant damage from Hurricane Harvey.

Construction on the property will begin in June 2018 on a new 101,000-sf clubhouse and country club that will be ready in November 2019.

The new clubhouse will include a ballroom, multiple kitchens, covered terraces, and storage spaces for golf carts.

The development is located on more than 200 acres near Buffalo Bayou.

Lakeside Country Club—one of the city’s toughest golf courses—was founded in 1951.
Houston Business Journal
Houston-The Woodlands-Sugar Land
Public Facilities
https://www.bizjournals.com/houston/news/2018/05/22/exclusive-lakeside-country-club-to-start-32m.htmlRead more at the {Source}
DFW apartment rentals on the rise; 40K units rise tooDFW apartment rentals on the rise; 40K units rise toohttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=199832018-05-23T05:00:00Z2018-05-23T22:30:00Z
​​​Average Rent per unit Vacancy 12-Month Net AbsorptionDALLAS-FORT WORTH – Rental rates per square foot rose to $1.24 in first quarter 2018, according to Transwestern’s 1Q 2018 DFW Multifamily Market Outlook.

This rental rate rise was a year-over-year increase of 1.6 percent for the average apartment unit of 894 sf.​

Submarkets that reported the highest rental rates included:
  • ​Park Cities at $2,297/unit,
  • Uptown at $1,937/unit, 
  • Downtown Dallas at $1,529/unit, and 
  • Grapevine at $1,308/unit.
During the previous 12 months, there have been 93 buildings with 23,579 units delivered across the DFW metro.

Currently, there are 154 buildings and 39,865 units under construction.​
Transwestern
Dallas-Fort Worth-Arlington
Multifamily
https://assets.recenter.tamu.edu/Documents/MktResearch/DFW_Multifamily_Transwestern.pdf

Click here to view Transwestern's 1Q 2018 DFW Multifamily Metro Outlook.​

Check out more DFW Multifamily Market Research.

Source: {Source}
160-Room Hyatt House to MetroPark Square 160-Room Hyatt House to MetroPark Square https://www.recenter.tamu.edu/news/newstalk-texas/?Item=200622018-05-23T05:00:00Z2018-05-23T22:00:00Z

The 160-room extended stay hotel will feature studios, one- and two-bedroom kitchen suites, and den guestrooms. SHENANDOAH – Sam Moon Group officials named ​Hyatt House as one of the hotels featured in the new MetroPark Square—a 69-acre, mixed-use development.

The under construction property is at the southeast intersection of I-45 and Hwy. 242.

The 160-room extended stay hotel will feature studios, one- and two-bedroom kitchen suites, and den guestrooms.

MetroPark Square itself is slated to open in October 2018.

Community Impact Newspaper
Houston-The Woodlands-Sugar Land
Hotel
https://communityimpact.com/local-news/houston/the-woodlands/impacts/2018/05/04/sam-moon-group-names-hyatt-house-as-hotel-coming-to-metropark-square/Read the full article at {Source}
Alamo City's 300th anniversary and office spaceAlamo City's 300th anniversary and office spacehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=201432018-05-23T05:00:00Z2018-05-23T22:00:00Z

Image of San Antonio Office 1Q 2018 Net Absorption/Overall Asking Rent​SAN ANTONIO – With a foundation rooted in the U.S. military, tourism, healthcare, and international trade, the Alamo City carries its strong and vibrant economy into its 300th anniversary.​

It continues to expand its inventory of office space, according to Cushman & Wakefield’s San Antonio Office first quarter 2018 report.

The amount of new office space under construction has more than doubled from 1Q 2017 to 1Q 2018—with average rental rates increasing 70 cents per sf.

First quarter 2018 showed total employment of 1.05 million jobs, up 22,000 from 1Q 2017—and an unemployment rate that fell a full percentage point over the same period.​
Cushman & Wakefield
San Antonio-New Braunfels
Office
http://www.cushmanwakefield.com/en/research-and-insight

See San Antonio Office Market Research to see the latest.

Source: {Source}
Wedge Group buys 'needle in a haystack'Wedge Group buys 'needle in a haystack'https://www.recenter.tamu.edu/news/newstalk-texas/?Item=201492018-05-23T05:00:00Z2018-05-23T21:00:00Z

​​​​​​​​​Image of Three Sugar Creek office buildingSUGAR LAND – The Wedge Group acquired the Three Sugar Creek office property located at 3 Sugar Creek Center Blvd.

Wedge Properties Management bought the six-story, 154,263-sf Class A property in early May 2018.

​Sugar Land ended 2017 with around 93 percent Class A office occupancy.

The building is 94 percent occupied.

Rent rates are listed at $22.50 per sf, and floor plates as large as 8,949 sf are available in the building.
Houston Business Journal
Houston-The Woodlands-Sugar Land
Office
https://www.bizjournals.com/houston/news/2018/05/15/houston-office-investor-sugar-land-acquisition-was.htmlRead the full article at the {Source}
Lots of Scotch near GM, Home Depot, Blue ApronLots of Scotch near GM, Home Depot, Blue Apronhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=201582018-05-22T05:00:00Z2018-05-22T23:35:00Z

​​​​AUSTIN – A rendering of what the future 11-acre pond could look like at Parmer Innovation Center in Northeast Austin.

Developers hope residents of The Domain and hundreds of office workers will enjoy walks, concerts and beer.​

A four-story, 116,000-sf spec-office space in the 300-acre Parmer Innovation Center at 319 E Parmer Ln. should be completed in August 2018.

In addition, Karlin Real Estate will pay $10.85 million as the winning bidder on the IO at Tech Ridge property—located at 12600 McAllen Pass.

3M will also be moving 500 employees to new a building being constructed at the Parmer Innovation Center. The maker of Scotch tape leased about 300,000 sf across two buildings.

​The company is negotiating with Karlin another approximately 40,000 sf in the complex.
Austin Business Journal
Austin-Round Rock
Mixed-Use
https://www.bizjournals.com/austin/news/2018/05/17/parmer-innovation-center-to-become-mammoth.html

​Check​ out Austin Office, Retail, and Multifamily Market Research. ​

Source: {Source}
East Quarter makeover (not in New Orleans)East Quarter makeover (not in New Orleans)https://www.recenter.tamu.edu/news/newstalk-texas/?Item=201592018-05-22T05:00:00Z2018-05-22T22:50:00Z

​​​Image of the East Quarter SignDALLAS – Developers are rebranding the historic neighborhood—Deep Ellum—on the east side of the Central Business District as the East Quarter.

The name change is part of a redevelopment plan for more than two dozen historic buildings and construction sites along Cesar Chavez Blvd., Commerce St., and Jackson St.

Developer Todd Interests unveiled plans for the makeover of 1920s and 1930s buildings at the recent groundbreaking.

Todd Interests plans to convert most of the 18 brick commercial buildings into a combination of office and retail space.

"This is a neighborhood that's been over 100 years in the making," said Todd. "Some think it's the best-kept secret in our city."

All of the construction will be completed by year-end 2018.
Dallas Morning News
Dallas-Fort Worth-Arlington
Mixed-Use
https://www.dallasnews.com/business/real-estate/2018/05/17/downtown-dallas-new-east-quarter-redevelopment-kicks-constructionRead the full article at the {Source}
Saloon included; 5,000-acre Champion Ranch on the marketSaloon included; 5,000-acre Champion Ranch on the markethttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=201102018-05-22T05:00:00Z2018-05-22T22:45:00Z

Leon County Champion Ranch in Centerville

CENTERVILLE, LEON COUNTY – The 5,000-acre Champion Ranch— located midway between Dallas and Houston along I-45—has hit the market.

The property includes an owner’s home on a 78-acre lake, as well as several barns, eight guest and ranch houses, and a 16-person bunkhouse.

A 2,200-sf on-property saloon also offers two bars, a piano, sound system, and seats for 180 guests.

Included in the sale will be 1,000 head of purebred Brangus breeder cattle, horses, and ranch equipment, along with 100 percent of the oil and gas rights on the property.

A majority of the proceeds from the ranch’s sale will benefit the Richard Wallrath Educational Fund, which plans to distribute the money between the 4-H Youth Development Foundation and FFA.

San Antonio Business Journal
College Station-Bryan
Land
https://www.bizjournals.com/sanantonio/news/2018/05/10/texas-businessman-puts-5-000-acre-ranch-on-the.htmlRead more at the {Source}
Argyle socks to fit nesters, young buyersArgyle socks to fit nesters, young buyershttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=201612018-05-22T05:00:00Z2018-05-22T22:35:00Z

Rendering of D. R. Horton Home going in Harvest Townside​ARGYLE, DENTON COUNTY – A new neighborhood, Harvest Townside, is aiming at buyers wanting a smaller, more affordable house—both empty nesters and younger buyers.

Harvest Townside will feature patio homes starting near 1,500 sf and priced beginning in the $260,000s.

The project near I-35W is planned for more than 3,000 homes.

With average new single-family homes in North Texas selling at close to $350,000—the developer, Hillwood Communities, is hoping will draw more buyers.
Dallas Morning News
Dallas-Fort Worth-Arlington
Housing
https://www.dallasnews.com/business/real-estate/2018/05/17/new-denton-county-community-aims-buyers-want-smaller-affordable-new-homes

​Check ​out DFW Housing Market Research.

Source: {Source}
'Houston, we have a 200K-SF demolition''Houston, we have a 200K-SF demolition'https://www.recenter.tamu.edu/news/newstalk-texas/?Item=201502018-05-22T05:00:00Z2018-05-22T22:30:00Z

Image of Yorktown PlazaHOUSTON​​​​ – Yorktown Plaza, a roughly 200,000-sf office complex, and its accompanying retail development will be demolished and transformed into anything from a retail, mixed-use, office space, or hospitality development in around five years or less.

The property contains:
  • a ​98,292-sf office building,  
  • a 97,045-sf building, and
  • roughly 13,000 sf of retail space in-between those buildings at 5373 West Alabama St.
The property, which sits on 4.25 acres near the Galleria, will either be sold to a developer or redeveloped by Houston-based Wedge Group.
Houston Business Journal
Houston-The Woodlands-Sugar Land
Mixed-Use
https://www.bizjournals.com/houston/news/2018/05/16/exclusive-galleria-office-building-to-be.htmlSource: {Source}
Where the green grove grows Where the green grove grows https://www.recenter.tamu.edu/news/newstalk-texas/?Item=201562018-05-22T05:00:00Z2018-05-22T22:15:00Z

​​​​​​Concept image of the Grove at Shoal CreekAUSTIN – Developers for the Grove at Shoal Creek got a long-awaited stamp of approval for their plans for the mixed-use community.

The Grove is expected to have more than 1,500 residential units.

Austin's Zoning and Platting Commission approved the preliminary plan and final plat for the dense project envisioned near 45th St. and Bull Creek Rd.

In early June 2018, the development team will open the Grove Store at 1818 W. 35th St. for prospective homebuyers.

The next steps for the Grove are construction plans to build improvements—a site plan depicting the location of specific facilities—with building permits to follow shortly after.
Austin Business Journal
Austin-Round Rock
Mixed-Use
https://www.bizjournals.com/austin/news/2018/05/16/grove-at-shoal-creek-project-clears-major-hurdle.html

​Check out Austin Retail and Multifamily Market Research.

Source: {Source}
'It's-a' Giorgetti to Upper Kirby 'It's-a' Giorgetti to Upper Kirby https://www.recenter.tamu.edu/news/newstalk-texas/?Item=201412018-05-22T05:00:00Z2018-05-22T22:00:00Z

​​Concept image of the GiorgettiHOUSTON – Giorgetti, the luxury condominium project named after a high-end Italian furniture maker, broke ground in May 2018. 

The seven-story condominium off Kirby Dr. and Steel St. is more than 50 percent sold and will include 32 units ranging from 2,700 sf to 6,800 sf.

Located off Kirby Dr. and Steel St., the Giorgetti is priced between $1.4 million and $3.4 million.

The development is set to open by year-end 2019.
Houston Business Journal
Houston-The Woodlands-Sugar Land
Housing
https://www.bizjournals.com/houston/news/2018/05/15/upper-kirby-luxury-branded-condos-break-ground.html

​RELATED: ​Giorgetti Houston lux to Upper Kirby​

Read more at {Source}

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