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ScaleFactor leases 53K-sf in East Austin for new HQScaleFactor leases 53K-sf in East Austin for new HQhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=229752019-08-22T05:00:00Z2019-08-24T00:00:00Z

​​​​​​​​​AUSTIN – ScaleFactor Inc. has leased 53,000 sf for a new headquarters in the former Drink Daily Greens warehouse at 979 Springdale Rd.

The office has outdoor patios, mezzanines, and multiple kitchens.

Neighbor tenants include FloSports, Austin Bouldering Project, Friends and Allies Brewing, Austin Eastciders, and ZeroCater.

Colliers International was the broker. The designer was Chioco Design. ​​

texaslogo.pngHead to the Real Estate Center's website for more on Austin's office market:

Source: Austin Business Journal​

Austin Business Journal
Austin-Round Rock
Industrial
Read more at {Source}
Tenant plans $2.2M renovation at Three Allen Center Tenant plans $2.2M renovation at Three Allen Center https://www.recenter.tamu.edu/news/newstalk-texas/?Item=229712019-08-22T05:00:00Z2019-08-23T23:00:00Z

​​​​​HOUSTON – Plains All American Pipeline LP is planning a $2.2 million renovation to its headquarters in Three Allen Center at 333 Clay St.

The building permit was issued to O’Donnell/Snider Construction. The property is owned by Brookfield Properties, which is represented by JLL for leasing.

The Allen Center office complex is undergoing a major renovation that is scheduled to wrap up next year.

texaslogo.pngThe Real Estate Center has more information on Houston's office market:

Source:Houston Business Journal​
Houston Business Journal
Houston-The Woodlands-Sugar Land
Office
Read more at the {Source}
358-unit Margo breaks ground at Frisco’s Canals at Grand Park358-unit Margo breaks ground at Frisco’s Canals at Grand Parkhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=229702019-08-22T05:00:00Z2019-08-23T22:00:00Z

​​​​​​FRISCO – StreetLights Residential has started ​construction on The Margo, a 358-unit, four-story apartment complex.

The Margo will offer studios and townhomes as well as one-, two-, and three-bedroom apartments. Amenities include two pools, a fitness club, game and theater rooms, and coworking space.​

This​​ is the third phase of StreetLight's residential project within the Canals a​t Grand Park.

LRK is the architect, and ​Ink + Oro designed the leasing and amenity spaces. SLR Construction is the general contractor. 

​​TexasRead more Dallas multifamily news on the Real Estate Center's website. ​​

Source: ConnectMedia​​​​

Connect Media
Dallas-Fort Worth-Arlington
Multifamily
Read more at {Source}
Austin July home sales hit all-time highAustin July home sales hit all-time highhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=229692019-08-21T05:00:00Z2019-08-23T21:00:00Z

​​​​​​​​AUSTIN – Area home sales set an all-time high for any July on record as sales through the MLS increased 11.7 percent over the year to 3,439, according to the Austin Board of Realtors (ABOR).

The median sales price for a single-family home in the metro was $325,000 last month, up 3.2 percent.

Across the market, new listings increased 4 percent year-over-year to 3,841. Active​ listings fell 3.5 percent to 7,197. Pending sales jumped 17.4 percent to 3,385. 

The total dollar volume of single-family properties sold through the MLS grew 15.4 percent since July 2018 to $1.4 billion. 

Austin-Round Rock had 2.7 months of inventory in July, down 0.2 months. The Real Estate Center considers six to 6.5 months of inventory a balanced market.

Other highlights from the report include:

  • Travis County single-family home sales increased by 4.6 percent to 1,641. Sales dollar volume rose 10 percent to $827.2 million. 

  • New listings increased 10.7 percent to 1,330 in Williamson County, while pending sales experienced an increase of 20.1 percent to 1,206.

  • In Hays County, single-family home sales jumped 22.4 percent to 431 while pending sales increased 11.8 percent.

  • Bastrop County single-family home sales also saw a big increase of 41.1 percent to 127. Housing inventory increased 0.3 months to 4.3 months.

  • Caldwell County experienced the biggest spike, with single-family home sales jumping 52.2 percent to 35. During the same period, new listings decreased 19.6 percent to 37.​

texaslogo.pngGet more information on Austin's housing market from the Real Estate Center:
Austin Board of Realtors
Austin-Round Rock
Housing
Read more at {Source}
Grand Dominion Homes set to build in Lago MarGrand Dominion Homes set to build in Lago Marhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=229722019-08-22T05:00:00Z2019-08-23T19:00:00Z

​​​​​​​HOUSTON – Grand Dominion Homes is building within CBD Land Capital's ​​Lago Mar master-planned community near the intersection of Gulf Fwy. and Lago Mar Blvd. 

It will build on 45 lots within the 2,033-acre development. Lots ​will feature 50-ft home sites and 12 different floor plans. 

Homes will have up to five bedrooms and three-bay garages. Each will have a "DropZone" for mail, keys, and phone chargers, as well as a mudroom, video doorbell, and back-porch swing.

Grand Dominion broke ground on its first mode​​l home in Lago Mar earlier this month. Prices will start at $250,000.  

texaslogo.pngGet more on Houston's housing market from the Real Estate Center:
Houston Business Journal
Houston-The Woodlands-Sugar Land
Housing
Read more at the {Source}
SA Holiday Inn getting new face, new nameSA Holiday Inn getting new face, new namehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=229742019-08-22T05:00:00Z2019-08-23T19:00:00Z

​​​​SAN ANTONIO – A joint venture led by The Bricton Group Inc. will invest​​ $36 million to redevelop the Holiday Inn San Antonio International Airport into a Marriott full-service hotel.

The team will reduce the number of rooms from 400 to 365 redesigned rooms. Plans include transforming 16,700 sf ​​to accommodate a new ballroom and high-tech meeting spaces.

The hotel's first floor will be gutted and expanded to include raised ceilings, more lobby space, and a new outdoor area with a patio bar and pool.

Additional improvements will include a new fitness center and an M Club VIP lounge for Marriott’s Bonvoy program​ members.

The property at 77 N.E. I-410 Loop ​​will be rebranded as the Marriott San Antonio Airport Hotel. The project is expected to be completed in fall 2020.

TexasGet more San Antonio hotel stories on the Real Estate Center's website. ​​

Source: San Antonio Business Journal

San Antonio Business Journal
San Antonio-New Braunfels
Hotel
Read more at the {Source}
Texas job growth up 2.6 percent year over year in JulyTexas job growth up 2.6 percent year over year in Julyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=229762019-08-23T05:00:00Z2019-08-23T15:00:00Z

​​​​​COLLEGE STATION – Texas' job creation has accelerated since March 2019. According to the Real Estate Center's latest Monthly Review of the Tex​as Economy, the state gained 323,300 nonagricultural jobs from July 2018 to July 2019, an annual growth rate of 2.6 percent, higher than the nation’s employment growth rate of 1.5 percent.

The nongovernment sector added 316,600 jobs, an annual growth rate of 3 percent, also more than the nation’s employment growth rate of 1.7 percent in the private sector.

Texas’ seasonally adjusted unemployment rate in July 2019 was 3.4 percent, lower than the 3.8 percent rate in July 2018. The nation’s rate decreased from 3.9 to 3.7 percent.

All Texas industries except the information industry had more jobs. The construction industry ranked first in job creation followed by other services; leisure and hospitality; transportation, warehousing, and utilities; mining and logging; financial activities; and manufacturing.

All Texas metro areas except Victoria had more jobs. Dallas-Plano-Irving ranked first in job creation followed by Killeen-Temple-Fort Hood, Houston-The Woodlands-Sugar Land, Odessa, McAllen-Edinburg-Mission, and Austin-Round Rock.

The state’s actual unemployment rate in July 2019 was 3.7 percent. Midland had the lowest unemployment rate followed by Amarillo, Odessa, Austin-Round Rock, College Station-Bryan, and Sherman-Denison.​​

texaslogo.pngClick here​ to subscribe to this montly report.
Real Estate Center
Texas
Economy
Read more at {Source}
25K-sf Plano industrial property changes hands25K-sf Plano industrial property changes handshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=229672019-08-21T05:00:00Z2019-08-23T01:00:00Z

​​​​PLANO – A 24,464-sf industrial property at 1304 Summit Ave. has been sold.

The asset was built on 2.3 acres in 1981.

Marcus & Millichap marketed the property on behalf of the seller and procured the buyer, both of which were private investors.

REBUSINESS
Dallas-Fort Worth-Arlington
Industrial
http://rebusinessonline.com/marcus-millichap-arranges-sale-of-24464-sf-industrial-property-in-plano/Read more at {Source}
Dallas retail center to undergo redoDallas retail center to undergo redohttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=229652019-08-21T05:00:00Z2019-08-23T00:00:00Z

​​DALLAS – CanTex Capital has purchased the Stemmons Center retail project with plans for a redo.

Located on Stemmons Fwy. south of Inwood Rd., the 42,594-sf property is near Love Field and the Design District.

The new owners will renovate the buildings to include more showroom space.

Stream Realty Partners will market the property.

Dallas Morning News
Dallas-Fort Worth-Arlington
Retail
https://www.dallasnews.com/business/real-estate/2019/08/21/retail-center-near-dallas-medical-district-getting-makeoverRead more at the {Source}
390K-sf Chase Tower sold in downtown Austin390K-sf Chase Tower sold in downtown Austinhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=229632019-08-21T05:00:00Z2019-08-22T22:00:00Z

​​​​​​AUSTIN – Los Angeles-based CIM Group is now the owner of Chase Tower, a 21-story, 390,000-sf, Class A office building at 221 W. 6th St. in downtown.

Delivered in 1974, Chase Tower and its adjacent parking lot span a full city block.

Cushman & Wakefield represented the seller, a joint venture between Goldman Sachs Asset Management and Lincoln Property Co.

Connect Media
Austin-Round Rock
Office
https://www.connect.media/los-angeles-buyer-snags-390k-sf-chase-tower-in-austin/Read more at {Source}
Windmill Investments acquires 524K-sf SA office portfolio Windmill Investments acquires 524K-sf SA office portfolio https://www.recenter.tamu.edu/news/newstalk-texas/?Item=229682019-08-21T05:00:00Z2019-08-22T20:00:00Z

​​​​SAN ANTONIO – Windmill Investments has acquired the six-building, 523,255-sf Cotter & Sons office portfolio.

The portfolio includes:

  • the 183,487-sf Alamo Towers;

  • the 230,020-sf Petroleum Towers; and 

  • the 109,748-sf 1800 Plaza.

Windmill borrowed $37 million from Fortress Credit Co. to make the purchase, according to county records.

The Alamo Towers were sold for $13.1 million, and the Petroleum Towers sold for $15 million, according to court documents. 

Cushman & Wake​field represented the seller.

San Antonio Business Journal
San Antonio-New Braunfels
Office
https://www.bizjournals.com/sanantonio/news/2019/08/21/done-deal-523k-sf-cotter-office-portfolio-has.htmlRead more at the {Source}
384-unit Boterra Bay sold, rebranded 384-unit Boterra Bay sold, rebranded https://www.recenter.tamu.edu/news/newstalk-texas/?Item=229662019-08-21T05:00:00Z2019-08-22T19:00:00Z

​​​​BAYTOWN – Passco Cos. has acquired Boterra Bay Apartments, a 384-unit multifamily community at 99 W.E. Cedar Bayou Lynchburg Rd. 

Floor plans consist of one-, two-, and three-bedroom units that feature granite countertops, stainless steel appliances, and walk-in closets. 

Amenities include a pool, fitness center with yoga and spin studios, outdoor kitchen with grilling stations, dog park, business center, and resident clubhouse. 

The Class A property will be rebranded Sapphire Bay Apartments. ​

Newmark Knight Frank represented the seller, a joint venture between The Boterra Group and Edison Capital Holdings.

KeyBank Real Estate Capital secured acquisition financing on behalf of Passco.
REBUSINESS
Houston-The Woodlands-Sugar Land
Multifamily
https://rebusinessonline.com/passco-acquires-384-unit-apartment-community-in-metro-houston/Read more at {Source}
Kyle Field-themed grocery store rising near TAMUKyle Field-themed grocery store rising near TAMUhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=229732019-08-22T05:00:00Z2019-08-22T19:00:00Z

​​COLLEGE STATION – The Texas A&M University System and Brookshire Brothers are partnering on a new grocery store near the school's main campus.

The store on the corner of George Bush Dr. and Penberthy Blvd. will resemble A&M's Kyle Field football​​​ stadium. ​

The 40,000-sf store will feature a beer garden, live music venue, hot deli, full-service pharmacy, and bakery. There will also be a fuel station and curbside pickup.

KBTX
College Station-Bryan
Retail
https://www.kbtx.com/content/news/New-Kyle-Field-themed-grocery-store-being-built-near-campus-557878691.htmlRead more at {Source}
Caris adding 500 DFW jobs with new corporate parkCaris adding 500 DFW jobs with new corporate parkhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=229602019-08-20T05:00:00Z2019-08-22T01:00:00Z

​​​​IRVING – Caris Life Sciences is developing a corporate park that will add 500 new job opportunities to the Metroplex.

The 115,000-sf facility will include new research and development space as well as offices.

Construction on the first of three phases is already underway.

Phase one will deliver in 2020.

Dallas Morning News
Dallas-Fort Worth-Arlington
Industrial
https://www.dallasnews.com/business/jobs/2019/08/20/irving-based-cancer-research-firm-caris-life-sciences-add-500-jobs-develop-new-corporate-parkRead more at the {Source}
New York investor picks up West Dallas multifamilyNew York investor picks up West Dallas multifamilyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=229582019-08-20T05:00:00Z2019-08-21T23:00:00Z

​​​​​​DALLAS – New York-based Beachwold Residential has purchased the Austin at Trinity Green apartments from Stonelake Capital Partners.

Located at 1212 Singleton Blvd., the 355-unit apartment project is part of the 25-acre Trinity Green development west of downtown.

The purchase was funded with a $45 million loan from American General Life Insurance.

Dallas Morning News
Dallas-Fort Worth-Arlington
Multifamily
https://www.dallasnews.com/business/real-estate/2019/08/19/new-york-investor-snaps-west-dallas-apartment-communityRead more at the {Source}
Empty Dallas industrial building to get a face-LyftEmpty Dallas industrial building to get a face-Lyfthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=229622019-08-20T05:00:00Z2019-08-21T22:00:00Z

​​​​​DALLAS – Lyft has filed for a building permit with the city to remodel an empty industrial building at the south end of Love Field for a 31,638-sf vehicle maintenance center.

Located on Cedar Springs Rd. just south of Mockingbird Ln., the facility would include repair facilities for drivers' cars plus a lounge area.

CBRE is marketing the property.

Dallas Morning News
Dallas-Fort Worth-Arlington
Industrial
https://www.dallasnews.com/business/real-estate/2019/08/20/lyft-eyes-new-drivers-center-dallas-love-fieldRead more at the {Source}
Pelican Builders developing luxury condos in Upper Kirby Pelican Builders developing luxury condos in Upper Kirby https://www.recenter.tamu.edu/news/newstalk-texas/?Item=229612019-08-20T05:00:00Z2019-08-21T21:00:00Z

​​​HOUSTON – Pelican Builders is developing​ Westmore, a luxury condominium project at 2323 W. Main St. in Upper Kirby.

Designed by Mirador Group, the seven-story midrise will feature 33 residential units,​​ including four penthouses. 

The penthouses will average 2,500 sf and start at $1.6 million, while the other residences will range from 1,560 to 1,800 sf and start at $960,000. 

All units will have high ceilings, floor-to-ceiling windows, hardwood flooring, ​​​​​stainless steel appliances, and prewiring for smart-home technology. 

Amenities will include same-floor storage, terraces, optional pet porch potty upgrades, and a fitness center.
Houston Business Journal
Houston-The Woodlands-Sugar Land
Multifamily
https://www.bizjournals.com/houston/news/2019/08/20/another-luxe-condo-project-to-rise-in-upper-kirby.htmlRead more at the {Source}
Garage Ultimate to open doors mid-September Garage Ultimate to open doors mid-September https://www.recenter.tamu.edu/news/newstalk-texas/?Item=229572019-08-20T05:00:00Z2019-08-21T20:00:00Z

​​​​​FRIENDSWOOD – Garage Ultimate is opening its luxury vehicle garage at 4650 FM 2351 in mid-September.

Phase one includes 41,000 sf of individually owned garage spaces and a 2,800-sf clubhouse. 

These are the first two buildings of five the business plans to build.
Community Impact Newspaper
Houston-The Woodlands-Sugar Land
Retail
https://communityimpact.com/local-news/houston/pearland-friendswood/features/business/2019/08/20/garage-ultimate-garages-luxury-cars-september-friendswood/Read more at the {Source}
Two Lakes Edge set to deliver spring 2020 Two Lakes Edge set to deliver spring 2020 https://www.recenter.tamu.edu/news/newstalk-texas/?Item=229592019-08-20T05:00:00Z2019-08-21T20:00:00Z

​​​​​THE WOODLANDS – Construction has started on Two Lakes Edge, an eight-story, 386-unit project at Hughes Landing Blvd. and Lake Woodlands Dr.

Adjacent to Lake Woodlands, the complex will offer efficiencies and one-, two-, and three-bedroom apartments averaging 997 sf.

It will also offer a parking garage​, resort-style pool, coworking space, wine room, fitness center, yoga area, and sky lounge.

Additionally, the complex includes 11,000 sf of retail space.

Delivery is set for spring 2020, and preleasing will begin in late 2019.
Community Impact Newspaper
Houston-The Woodlands-Sugar Land
Mixed-Use
https://communityimpact.com/houston/the-woodlands/development-construction/2019/08/17/photos-take-a-look-inside-two-lakes-edge-a-new-multifamily-development-at-hughes-landing/Read more at the {Source}
DMA to build mixed-income apartments in AustinDMA to build mixed-income apartments in Austinhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=229502019-08-19T05:00:00Z2019-08-21T02:00:00Z

AUSTIN – DMA Development Cos. will soon begin construction on Talavera Lofts, a 100-unit, mixed-income apartment complex at E. 5th and Navasota Streets.

Most of the units will lease at rental rates affordable to households with incomes from 30 to 60 percent of the area's median income.​

Nelson Partners designed the complex, which will open in early 2021.

The project is being financed by $1.4 million in tax credits from the Texas Department of Housing and Community Affairs.

Connect Media
Austin-Round Rock
Multifamily
https://www.connect.media/dma-development-moves-forwardmixed-income-talavera-lofts/Read more at {Source}

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