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120K-sf Craig Ranch office building sold 120K-sf Craig Ranch office building sold https://www.recenter.tamu.edu/news/newstalk-texas/?Item=262642021-07-30T05:00:00Z2021-07-30T22:00:00Z

​​​​PictureMcKINNEY – The McKinney Corporate Center I building on Weiskopf Ave. has sold to Orangestar Property Advisors.

Built in 2013, the 120,000-sf building is leased to tenants including Cotiviti Healthcare.

The seller was VanTrust Real Estate.

Veritex Community Bank financed the acquisition with a $19.2 million loan.

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Dallas Morning News
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Medline Industries Inc. opens Katy distribution centerMedline Industries Inc. opens Katy distribution centerhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=262682021-07-30T05:00:00Z2021-07-30T21:00:00Z

​​​KATY – Illinois-based Medline Industries Inc. is opening a 1.3 million-sf distribution center.

The facility, located at 29895 U.S. 90 near Brookline Rd., will​​ bring 100 jobs to the area.

The LEED-certified facility has 37-ft clear height, five drive-in bays, and 204 exterior dock doors.

The location will be Medline's fourth in Texas; the others are in Dallas, Laredo, and Wilmer.​

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

​Source: Houston Business Journal​

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Houston-The Woodlands-Sugar Land
Industrial
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44K-sf office building sold near Fort Worth’s Cultural District 44K-sf office building sold near Fort Worth’s Cultural District https://www.recenter.tamu.edu/news/newstalk-texas/?Item=262672021-07-30T05:00:00Z2021-07-30T19:00:00Z

​​​PictureFORT WORTH – A three-story, 43,729-sf office building at 200 Bailey Ave. has been sold.

More than a third of the building is vacant. Lead tenant Hahnfeld Hoffer & Stanford Architects will sta​y in the building.

Transwestern Real Estate Services brokered the sale.

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Fort Worth Star-Telegram
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PuttShack opens 26,000-sf minigolf course, restaurantPuttShack opens 26,000-sf minigolf course, restauranthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=262732021-07-30T05:00:00Z2021-07-30T17:00:00Z

​​​HOUSTON – PuttShack will open a 26,000-sf venue at The Shops in Houston Center in late 2022.

​The venue wi​ll combine tech-infused minigolf with a new onsite restaurant. 

The property is owned by Brookfield Properties in partnership with Spear Street Capital. 

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

​Source: REBusiness Online

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Houston-The Woodlands-Sugar Land
Retail
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Arch-Con Corp. starts on Rainey Street District hotelArch-Con Corp. starts on Rainey Street District hotelhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=262772021-07-30T05:00:00Z2021-07-30T15:00:00Z

​​​​AUSTIN – Houston-based general contractor Arch-Con Corp. is constructing a 17-story Fairfield Inn & Suites in the Rainey Street District near downtown.

The 152,000-sf hotel w​ill be at 76 East Ave. There will be a six-level, 57,930-sf concrete parking garage.

The 126-room Fairfield Inn & Suites is being developed by RGB Hospitality and designed by MCS Architects.

Texas logoGet more Austin hotel news​​ on the Texas Real Estate Research Center's website.

​Source: Realty News Report
Realty News Report
Austin-Round Rock
Hotel
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Addison apartment community goes to Ohio investorAddison apartment community goes to Ohio investorhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=262262021-07-29T05:00:00Z2021-07-29T22:00:00Z

PictureADDISON – White Oak Partners has acquired the Elan Addison Grove apartment​s on Belt Line Rd.

Built in 2018, the 321-unit rental community is just west of Midway Rd.

Greystar Real Estate represented the seller. 

Texas logoThe Texas Real Estate Research Center​​​​ has more multifamily news online for free:

​Source: Dallas Morning News​

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Dallas-Fort Worth-Arlington
Multifamily
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Texas Children’s Pavilion for Women adding $201M expansionTexas Children’s Pavilion for Women adding $201M expansionhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=262692021-07-29T05:00:00Z2021-07-29T21:00:00Z

​​​​​​HOUSTON – Texas Children's Hospital is working on a $201 million expansion project at the Texas Children's Pa​vilion for Women in the Texas Medical Center.

The former Baylor Clinic building will be renamed Main Tower and connect to the Pavilion for Women with a new skybridge. It will also add 190,000 sf to the obstetrics and gynecology facility.

The first phase of the project will be complete by spring 2022. Full completion is slated for 2024.​​

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

​Source: Houston Business Journal

Business Journal
Houston-The Woodlands-Sugar Land
Medical
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Allen breaks ground on $40M, 150K-sf recreation centerAllen breaks ground on $40M, 150K-sf recreation centerhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=262422021-07-29T05:00:00Z2021-07-29T20:00:00Z

​​​​​​​​​​PictureALLEN – Adolfson & Peterson Construction and the city have broken ground on the Stephen G. Terrell Recreation Center. 

The two-story, 150,000-sf facil​ity at 1680 W. Exchange Pkwy. will include two gyms, an indoor jogging track, weight room, group fitness areas, children’s play areas, and catering kitchen.​

Opening is set for early 2023.​

BRS is the architect of record. 

Texas logoThe Texas Real Estate Research Center​​​​ has more Dallas real estate news​ online for free. 

​Source: Adolfson & Peterson Construction​

Adolfson & Peterson Construction
Dallas-Fort Worth-Arlington
Public Facilities
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Vacant land to become mixed-use projectVacant land to become mixed-use projecthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=262752021-07-29T05:00:00Z2021-07-29T14:00:00Z

​​SAN ANTONIO – Eight acres of vacant land will be home to a mixed-use project. 

Essex Modern City LLC will develop 80,000 sf of retail space, 80,000 sf of office space, and 800 residential units. There will also be parking and an open park.

Kennedy Funding secured a $3.46 million land loan for the seven parcels.

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

Source: Connect Media
Connect Media
San Antonio-New Braunfels
Mixed-Use
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248-unit Falconhead Apartments sold248-unit Falconhead Apartments soldhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=262762021-07-29T05:00:00Z2021-07-29T14:00:00Z

AUSTIN – SWBC has sold Falconhead Apartments, a 248-unit community at 3400 Ranch Rd. 620 S. in the Bee Cave/Lakeway submarket of Austin. 

Built in 2003, the property had one-, two-, an​d three​-bedroom units and amenities such as a pool, spa, outdoor grilling areas, clubhouse, fitness center, and dog park. 

Berkadia represented SWBC, which purchased the property in 2019. The buyer was Domain Communities.

texaslogo.pngThe Texas Real Estate Research Center has more news like this online for free:
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Austin-Round Rock
Multifamily
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Madisonville self-storage facility trades handsMadisonville self-storage facility trades handshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=262652021-07-27T05:00:00Z2021-07-28T20:00:00Z

​​​​​MADISONVILLE – D&J Storage, a 292-unit self-storage facility spanning 41,740 sf, has been sold. 

The property is at US 190 and S. Short St. in downtown.

Marcus & Millichap arranged the deal.

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REBUSINESS
NonMSA Texas
Retail
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Keener Investments acquires Montelago ApartmentsKeener Investments acquires Montelago Apartmentshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=262602021-07-27T05:00:00Z2021-07-28T17:00:00Z

​​​​​HOUSTON – Locally-based Keener Investments has acquired the 312-unit multifamily Montelago Apar​tments. 

The property was built in 2004 with one-, two-, and three-bedroom floor plans. Amenities include a newly remodeled clubhouse, outdoor grilling stations, coffee bar, business center, fitness center, and a pool. 

Keener will implement a value-add program as well as 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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Multifamily project planned for College StationMultifamily project planned for College Stationhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=262612021-07-27T05:00:00Z2021-07-28T17:00:00Z

​​​​​COLLEGE STATION – Cross Development and StoneCreek Real Estate Partners are constructing Midtown Station Apartments.

The 264-unit multifamily project will have 178 one-bedroom, one-bathroom units and 86 two-bedroom, two-bathroom units.

Amenities will include a clubhou​se, pool and deck, mail kiosk, dog parks, and dog wash station.

Completion is slated for spring 2023.​

Berkadia ​provided a $33.3 million construction loan.

texaslogo.pngThe Texas Real Estate Research Center has more College Station real estate news ​online for free.​

REBUSINESS
College Station-Bryan
Multifamily
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Casci Plaster moving into landmark East Dallas buildingCasci Plaster moving into landmark East Dallas buildinghttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=262632021-07-27T05:00:00Z2021-07-28T17:00:00Z

​​PictureDALLAS – Casci Plaster is moving int​o the former Mrs Baird's bakery building at 1401 N. Carroll Ave.

Built in 1928, the 44,000-sf building has been vacant for years.

WDG Architecture is designing Casci Plaster's new space.

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

Dallas Morning News
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Industrial
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Taylor Morrison takes 500 home sites in Frisco’s Fields communityTaylor Morrison takes 500 home sites in Frisco’s Fields communityhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=262702021-07-27T05:00:00Z2021-07-28T16:00:00Z

​​​PictureFRISCO – Taylor Morrison Homes has purchased sites for 500 single-family homes in the 2,500-acre Fields development on the Dallas North Tollway.

The homes will be in the Brookside neighborhood on the north side of Panther Creek Pkwy., east of Legacy Dr.

The sellers were Hunt Realty Investments and Karahan Cos.

Construction starts this fall.

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

          ​​​​Source: Dallas Morning News

          Dallas Morning News
          Dallas-Fort Worth-Arlington
          Housing
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          Stassney Heights retail center soldStassney Heights retail center soldhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=262712021-07-28T05:00:00Z2021-07-28T15:00:00Z

          ​​AUSTIN – Newport Capital Partners has acquired Stassney Heights on behalf of its Newport Capital Partners Fund III. 

          The 103,030-sf shopping ce​nter is on the southwest corner of Stassney Ln. and I-35. It is currently 93 percent leased and anchored by Houston-based supermarket Fiesta Mart. 

          The property was marketed by CBRE.​​ Financing was provided by Wintrust Bank and arranged through Newmark.

          Texas logoThe Texas Real Estate Research Center has more local commercial real estate news like this online:

          ​Source: Connect Media
          Connect Media
          Austin-Round Rock
          Retail
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          American Landmark picks up 368-unit Dallas multifamily American Landmark picks up 368-unit Dallas multifamily https://www.recenter.tamu.edu/news/newstalk-texas/?Item=262182021-07-27T05:00:00Z2021-07-27T20:00:00Z

          ​​​​​​​​​​PictureDALLAS – American Landmark has acquired Olympus at Ross, a 368-unit apartment community near I-345 in the Bryan Place neighborhood.

          Built in 2015, th​e property has one- and two-bedroom units and amenities including a pool, outdoor grilling area, fitness studio, social lounge, cybercafé, and dog park.

          American Landmark will rebrand the property as Macallan at Ross.

          Texas logoThe Texas Real Estate Research Center​​​​ has more multifamily news online for free:

          ​Source: REBusiness Online​

          REBUSINESS
          Dallas-Fort Worth-Arlington
          Multifamily
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          Texas existing-home sales slow in June, inventory improves slightlyTexas existing-home sales slow in June, inventory improves slightlyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=262562021-07-27T05:00:00Z2021-07-27T19:00:00Z

          ​​​COLLEGE STATION – Texas’ existing-home sales were almost flat in June increasing just 1.6 percent over May to 27,000 transactions. Experts say the sales trend is slowing amid constrained inventories. 

          "Mortgage rates are still hovering around 3 percent, and ongoing demographic trends continue to support housing demand," said Dr. Luis Torres, research economist for the Texas Real Estate Research Center at Texas A&M University.  

          The average Texas home stayed on the market for just 26 days, the shortest time since the Center began keeping records in 1997.

          According to the National Association of Realtors (NAR), national existing-home sales rose moderately in June, rebounding slightly from a four-month slide. Along with the 1.4 percent monthly increase, national sales were up 22.9 percent from last year.

          "Standard year-over-year (YOY) calculations should be viewed cautiously due to the effects of the pandemic in June of last year," said Torres.

          Along with a June increase in sales, a 9.2 percent increase in new listings pulled Texas’ months of inventory of existing homes to 1.3 months.

          "It appears the persistent low level of inventory is easing as more homes hit the market," said Torres. "However, the limited inventory for homes priced less than $300,000 is particularly distressing and is putting pressure on home affordability."

          While reaching an all-time high, Texas’ median existing home sales price fell 19.3 percent YOY to $298,000. NAR reported an annual national increase of 23.4 percent to $363,300.

          Torres said a shift in the composition of sales toward higher-priced homes due to limited inventory at the bottom price cohorts explains some of the increase in the median sales price.

          "Our Texas Repeat Sales Home Price Index accounts for this compositional bias and indicates annual home-price appreciation was closer to 15 percent in June. Although less extreme than the median price metric suggests, the rise in home prices is still impairing Texas housing affordability."

          Texas logoThe Texas Real Estate Research Center has more housing news online for free​​:

          Source: Texas Real Estate Research Center
          Texas Real Estate Research Center
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          Housing
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          403-unit multifamily breaks ground in Lake Highlands403-unit multifamily breaks ground in Lake Highlandshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=262432021-07-27T05:00:00Z2021-07-27T18:00:00Z

          ​​​PictureDALLAS – OHT Partners LLC has broken ground on the 403-unit Lenox Lake Highlands multifamily community at the northeast corner of Walnut Hill Ln. and Skillman St.

          It will have one-, two-, a​nd three-bedroom units ranging from 600 to 1,640 sf. 

          Amenities will include a 1,300-sf collaborative work studio, three pools, a dog run and dog-washing station, and 24-hour fitness center.

          Part of the mixed-use Lake Highlands Town Center, the community will open in mid-2022.

          GFF is the architect, Pacheco Koch is the civil engineer, Bud Creative is the landscape architect, and Ink and Oro is handling interior design​.

          Texas logoThe Texas Real Estate Research Center​​​​ has more multifamily news online for free:

          ​Source: OHT Partners

          OHT Partners
          Dallas-Fort Worth-Arlington
          Multifamily
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          Florida investors purchase Five Post Oak Park towerFlorida investors purchase Five Post Oak Park towerhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=262572021-07-27T05:00:00Z2021-07-27T13:00:00Z

          ​​​​HOUSTON – Florida-based CP Group has acquired the 28-story Five Post Oak Park office tower.

          The 567,000-sf tower is in the inner loop on the north side of San Felipe St. 

          The new owner will modernize interior finishes and add amenities ​such as a top-tier restaurant, coffee bar, an outdoor patio, and concierge services. Current amenities include a conferencing facility and a 3,000-sf fitness center.

          The purchase is CP Group’s first in Houston since 2014. JLL Capital Markets represented the seller.​

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

          ​Source: Realty News Report​

          Realty News Report
          Houston-The Woodlands-Sugar Land
          Office
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