Historical W.T. Waggoner Ranch sells: six counties, 800 square miles of pure legendHistorical W.T. Waggoner Ranch sells: six counties, 800 square miles of pure legendhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=120752016-02-10T06:00:00Z

​​​​​VERNON - Texas’ legendary W.T. Waggoner Ranch—13 miles south of Vernon—is getting a new owner with ties to the Dallas area.

Sports team owner and real estate developer Stan Kroenke is buying the 535,000-acre ranch, which is located northwest of Wichita Falls near the Red River.

Dating back to 1849, it’s the biggest contiguous ranch property in the U.S. and has always been in the hands of the same family.

The sprawling property—spread over parts of six counties and almost 800 square miles— was offered for sale at close to $725 million.

The purchase includes thousands of head of cattle, more than 1,000 oil wells and 30,000 acres of farmland.
Dallas Morning News
Wichita Falls
http://bizbeatblog.dallasnews.com/2016/02/fabled-w-t-waggoner-texas-ranch-sells-to-sports-team-owner-who-has-lots-of-dallas-ties.html/Read more at the {Source}
Austin American-Statesman's land cues great deal of intrigueAustin American-Statesman's land cues great deal of intriguehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=120632016-02-10T06:00:00Z

​AUSTIN - In the first formal step toward redeveloping its prime Austin waterfront site, the family that owns the Austin American-Statesman land announced that it wants to hear ideas from qualified developers who would be interested in transforming the 18.9-acre site into a large mixed-use project. 

The Statesman site, at 305 S. Congress Ave. along the southern banks of Lady Bird Lake, has long been coveted by developers.

The solicitation, known as a request for interest and qualifications, is the first official step toward redeveloping the site, which many in the Austin real-estate community and at City Hall have for some time said is the property's inevitable destiny.

Cox Enterprises, the Atlanta-based company that owns the American-Statesman, announced in December that a separate entity composed of Cox family members was buying the newspaper land from the Cox corporation, which retains ownership of the newspaper operations.

"There is no predetermined plan, but in general we want to see the area develop in a way that is commensurate with Austin—a thriving economy in a beautiful environment." Alex Taylor, executive vice president of Cox Enterprises and Cox family member said.

​According to the request for qualifications being sent out to developers by the Austin law firm Armbrust & Brown, the Cox family "will evaluate information provided by qualified developers and determine potential next steps and timing with respect to any future development activities."

In the meantime, the newspaper continues to be based at the site through a lease with the Cox family.

In a written statement, Susie Gray, publisher of the American- Statesman, said: "We do not have plans to leave our offices in Austin. It will continue to be business as usual for our team."

Local developers and real estate experts have long said the site is underused.

With a zoning change from the city, it potentially could accommodate as much as 3 million sf of development, some experts estimate. 

Austin American-Statesman
Austin-Round Rock
http://www.statesman.com/news/business/ownership-group-seeks-developers-proposals-for-sta/nqLtQ/Read more at {Source}
San Antonio sale easy as 1, 2 and a 3: Walker Ranch, Hidden Lake, TimberockSan Antonio sale easy as 1, 2 and a 3: Walker Ranch, Hidden Lake, Timberockhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=120712016-02-10T06:00:00Z

​SAN ANTONIO - Dallas-based Milestone Apartments REIT has closed on a 15-property portfolio, which includes the 325-unit Walker Ranch apartment complex at 14500 Blanco Rd. and the 380-unit Hidden Lake at 8910 N Loop 1604 W.

Walker Ranch was built in 2006 on a 20-acre parcel in North Central San Antonio, and includes 17 buildings that are a mix of two and three stories.

Hidden Lake spans nearly 23 acres in the city's northwestern submarket, and includes 19 three-story buildings built in 2004.

Milestone acquired the 4,172-unit multifamily portfolio—which includes properties in Georgia, North Carolina, Florida and Texas—for a total of $502 million. Walker Ranch accounted for $44 million, and Hidden Lake accounted for $51 million.

A local investor operating as Wurzbach Advisors LLC has acquired the 216-unit Timberock apartment complex at 7220 Marbach Rd. in West San Antonio.

Timberock, which was built in 1983, is a two-story garden-style complex on a 7.42-acre site.

San Antonio Business Journal
San Antonio-New Braunfels
http://www.bizjournals.com/sanantonio/news/2016/02/05/transaction-action-lunch-crowds-rejoice-salata.htmlRead more at the {Source}
Houston office downturn? Upper Kirby to attract 'specific' tenantHouston office downturn? Upper Kirby to attract 'specific' tenanthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=120742016-02-10T06:00:00Z

​​HOUSTON - The Kirby Collection, a $146 million mixed-use project in Upper Kirby, is one of the city's most ambitious undertakings.

The million-plus-sf development will have a 13-story, 210,000-sf Class A office building.

Thor Equities is developing the project, and Jack Bousquet, a developer at Thor Equities, said he's received interest from law firms, real estate companies, brokers and other boutique-oriented users. He's also designing the office space with a specific kind of tenant in mind.

"Houston's office (market) isn’t great right now. But, at the same time, we never thought that this building would attract an energy user," said Bousquet. "We specifically designed this to attract a nonenergy user."​

CBRE, which is handling the development's office leasing, lists 192,758 sf of Kirby Collection office space as available, and lists the office rental rate as being $32.50 per sf.

Plans for the Kirby Collection were revealed in February 2015. The development broke ground in October 2015 and should be complete in fourth quarter 2017.

Houston Business Journal
Houston-The Woodlands-Sugar Land
http://www.bizjournals.com/houston/news/2016/02/05/upper-kirby-mixed-use-is-targeting-these-types-of.htmlRead more at the {Source}
Austin office hot streak 4Q2015: Cushman & WakefieldAustin office hot streak 4Q2015: Cushman & Wakefieldhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=120412016-02-10T06:00:00Z

​​​AUSTIN-ROUND ROCK - The office market continued its hot streak, recording strong absorption and steady vacancy for fourth quarter 2015.

The office market recorded 712,782 sf of overall absorption during 4Q2015, bringing the year-to-date total to 2.5 million sf of overall absorption.

The Far Northwest submarket experienced the strongest amount of absorption, recording 300,240 sf of overall absorption.

Vacancy rates in the Austin market remained steady with 3Q2015 at 9.1 percent.

Strong absorption rates coupled with low vacancy rates continue to raise full service asking average rental rates to historic highs.

The overall full service rental rate for the entire Austin market was recorded at $33.37 per sf for 4Q2015, an increase of 13.9 percent from the rate recorded during 4Q2014.

The Central Business District average rental rate of $46.34 per sf, maintained its position as the highest across all submarkets.

Additionally, the average full service rate for the CBD is $6.19 per sf higher than the average rate at the end of 4Q2014.

Key sales transaction for the year include two Far Northwest properties, the 1,112,236-sf IBM campus for $205 million and the 913,000-sf 7700 Parmer property for $274 million.

Cushman & Wakefield
Austin-Round Rock

See Austin Office Market Research for a variety of source reports. For U.S. cities' information, see Cushman & Wakefield's website​.

Read more at {Source}
Cabela's tackles March 17 League City openingCabela's tackles March 17 League City openinghttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=120312016-02-10T06:00:00Z

​LEAGUE CITY - Cabela’s Inc., a retailer of hunting, fishing and outdoor gear, will open its first Houston-area store on March 17.

The 72,000-sf store, which was announced in October 2014, is at 2421 S. Gulf Fwy.

It is an anchor tenant in Houston-based Pinnacle Alliance Fund Inc.’s new League City development, Pinnacle Park.

The store features Cabela’s new layout and will include an aquarium, an indoor archery range, an express cafe and other elements. Cabela’s hired 170 employees for the League City store, and they will host educational seminars and demonstrations throughout the year.

This is Cabela’s sixth store in Texas, in addition to its stores in Fort Worth, Buda, Allen, Waco and Lubbock.

Cabela’s will be adjacent to Big League Dreams Sports Parks in the northern portion of Pinnacle Park. The approximately 100-acre development is along I-45 South at Big League Dreams Parkway. 

Pinnacle Alliance bought the site in December 2013 with plans to turn it into a high-quality, mixed-use development that would include office, medical, dining, leisure, retail and multifamily/residential uses.

In November, Memorial Hermann Health System’s board of directors approved the purchase of 13 acres in Pinnacle Park to build a nearly 47,000-sf convenient care center—the largest of its kind for the Houston-based health system.

Houston Business Journal
Houston-The Woodlands-Sugar Land
http://www.bizjournals.com/houston/news/2016/02/04/cabelas-announces-opening-date-for-first-houston.htmlSource: {Source}
Job growth falling, but demand may hold for Houston apartmentsJob growth falling, but demand may hold for Houston apartmentshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=120562016-02-10T06:00:00Z

​​HOUSTON - There’s an adage in Houston’s apartment industry: For every five or six new jobs created, demand for housing grows by one apartment unit.

By that logic, Houston developers have been constructing tens of thousands of new apartment units in recent years as the fracking frenzy flooded Houston with jobs.

However, job growth is slowing in Houston as energy companies announce thousands of employee layoffs amid the oil slump.

The Bayou City is expected to generate about 21,900 jobs in 2016, a far cry from the 105,100 jobs created in 2014, according to the Greater Houston Partnership.

Houston currently has 102 properties totaling 29,000 units in the pipeline for the next two years, according to Apartment Data Services LLC.

Economists say that’s too many apartments for the number of jobs predicted for the region.

However, some multifamily developers believe demand for new apartments may hold despite poor job projections during the energy downturn. These developers argue Houston can support new luxury apartments even while job growth is slowing.

Developers believe demand will hold up for Class A apartments despite energy layoffs, which are affecting a segment of Houston’s population who are more likely to be homebuyers, not apartment renters.

Houston Business Journal
Houston-The Woodlands-Sugar Land

​See The Greater Houston Partnership's 2016 Employment Forecast for more information.

Read more at the {Source}
Austin airport breaks all-time record in 2015Austin airport breaks all-time record in 2015https://www.recenter.tamu.edu/news/newstalk-texas/?Item=120552016-02-10T06:00:00Z

​AUSTIN - The Austin-Bergstrom International Airport continues to live up to being one of the fastest growing airports in the country, shattering its all-time passenger record in 2015. 

Last year's record was set at 11.9 million passengers, the airport said. That's up 1.2 million passengers from the previous record set in 2014 of 10.7 million.

The news doesn't come as too much of a surprise, as the airport's single-month passenger record was beat four times in 2015. 

The standing monthly record is nearly 1.2 million passengers reached in July 2015.

Part of what fueled the increase in passenger traffic was the launch of several new flights for the airport.

In 2015, the airport saw the launch of eight new nonstop routes and new additional service for six existing nonstop routes.

This, as the airport expanded its own amenities to address larger crowds and completed several major projects in 2015.

The Terminal East Infill added about 56,700 sf to the terminal and renovated another 17,000 sf of the existing space at the airport. 

In October, the airport added a new five-level, 1.6 million-sf garage complex that included a newly expanded rental car facility and 800 parking spots for travelers on the ground floor.

The airport also added two new domestic bag carousels and saw improved passenger flow through the airport.​

The growth isn't done yet.

This year, the airport will see construction begin on a nine-gate terminal expansion and a new Hyatt Place hotel.

Late this year, a new facility is expected to be added to the airport that will offer another 2,000 parking spaces and a pet boarding service.

Austin American-Statesman
Austin-Round Rock
Infrastructure & Transportation

​To s​ee more data on Austin-Bergstrom International Airport, visit Austin-Bergstrom Aviation Activity Reports​.

Read more at the {Source}
This just in! KPRC building 60K-SF studio, moving HQ (next door)This just in! KPRC building 60K-SF studio, moving HQ (next door)https://www.recenter.tamu.edu/news/newstalk-texas/?Item=120732016-02-10T06:00:00Z

​HOUSTON - Construction is underway on a 60,000-sf office building for KPRC Channel 2, Houston’s NBC affiliate. 

Located at 8181 Southwest Fwy. in Southwest Houston’s Sharpstown District, KPRC’s new headquarters will house all aspects of the broadcast business and more than 180 employees.

It is being built 15 feet away from KPRC’s existing broadcast station, allowing critical utilities to be relocated while the station remains active.

Completion is slated for February 2017.

The facility will have two new studios with supporting control rooms for broadcasting live news programs and the building is specially equipped to go live from anywhere on site. ​

KPRC’s new facility will have a two-story atrium and staircase in the center of the building to provide natural light and a central meeting location.

Additional space will be allocated for the sales department, creative services department, and a new equipment room to process and store all of the network’s data.

Houston-The Woodlands-Sugar Land
http://www.globest.com/sites/lisabrown/2016/02/08/new-broadcast-facility-to-adapt-to-fast-paced-media-world/Source: {Source}
No buffalo to roam but Houston's bayou park opens today! Feb. 10No buffalo to roam but Houston's bayou park opens today! Feb. 10https://www.recenter.tamu.edu/news/newstalk-texas/?Item=120702016-02-10T06:00:00Z

​​​​HOUSTON - The newest park along Buffalo Bayou in Houston’s East End will open to the public on February 10.

The ten-acre green space, dubbed the Buffalo Bend Nature Park, is located at a former abandoned industrial site off Sgt. Macario Garcia Dr. near the Port of Houston's turning basin.

The transformed park now includes hike and bike trails, a bayou overlook shelter and interpretive signs, as well as three wetland ponds.

Development of the park was funded by a $500,000 grant from the Texas Parks & Wildlife and matching funds raised by Buffalo Bayou Partnership and Harris County Precinct 2. 

The property was acquired by a group of non-profit organizations, including Buffalo Bayou Partnership, in 2004. Once the deal was completed, the park was transferred to Harris County Precinct 2.

The Buffalo Bayou Partnership opened the Buffalo Bayou Park from Shepherd Dr. to Sabine St. last October.

The park features pavilions, a dog park, miles of trails and lush wildlife.

Houston Business Journal
Houston-The Woodlands-Sugar Land
Public Facilities
http://www.bizjournals.com/houston/morning_call/2016/02/new-portion-of-buffalo-bayou-park-to-open-soon.htmlRead more at the {Source}
Waco: Where (will) the Elite meet to eat?Waco: Where (will) the Elite meet to eat?https://www.recenter.tamu.edu/news/newstalk-texas/?Item=120212016-02-10T06:00:00Z

​​​WACO - The Elite Cafe, which can trace its founding back almost 97 years, has closed.

After decades as a dining tradition downtown and then on Waco’s bustling traffic circle, owner Creed Ford III said competition from new restaurants and a bleeding bottom line forced him to shutter the landmark.

For decades the restaurant’s marquee proclaimed it “where the elite meet to eat,” and that included entertainer Elvis Presley, who reportedly visited the restaurant while in basic training at Fort Hood in the late 1950s.

It served steaks, burgers and salads during most of its time operating in South Waco, where it anchored the circle and became a popular stopping point for travelers between Austin and Dallas even before I-35 was built nearby.

Ford, whose Austin-based restaurant group acquired The Elite in 1999, said he made the difficult decision to close The Elite for economic reasons, following months, even years, of subpar sales and customer counts made worse by a recent influx of new dining establishments.

The Elite Cafe, which for a time operated as The Elite Circle Grille after one of its ownership changes, has been a part of Waco’s history since 1919, when it first opened in downtown Waco.

A year later, four Colias brothers bought the restaurant after emigrating from Sparta, Greece. They opened a second location in 1941 on the circle, which would become the classic venue Waco diners and others from around the state came to know and love. 

The original Elite downtown closed in the 1960s.
Waco Tribune-Herald
http://www.wacotrib.com/news/business/historic-elite-cafe-on-waco-s-traffic-circle-has-closed/article_4e2fb4cb-fb5e-550d-8cef-058aad2bf7d4.htmlRead more at the {Source}
Colliers: Houston office, hotels, multifamily year-end 2015 oversupplyColliers: Houston office, hotels, multifamily year-end 2015 oversupplyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=120062016-02-10T06:00:00Z

​​​HOUSTON - Houston has an oversupply of office space, hotels and apartments, but the market looks good for shopping centers and industrial buildings.

However, some of Colliers’ year-end research is startling.

Only 125 apartment units were absorbed in fourth quarter 2015, while some 29,000 units are under construction.

With 100 apartment complexes now under construction, Houston multifamily is destined for negative absorption in 2016. 

The oversupply of office space will not vanish quickly either.

The suburban Class A office vacancy rate has risen to 16 percent, up from 10.2 percent at the end of 2014. Some 8 million sf of office space is under construction in Houston and the oversupply will become more acute as the buildings are finished.

With West Texas Intermediate crude at $30 a barrel, energy companies are laying off employees and cutting capex budgets. So the companies, which signed leases in 2014 when oil was $100 a barrel, are placing huge blocks of brand new office space on the sublease market.

Colliers reports Houston has 8 million sf of available sublease space and 6 million of that is in Class A buildings.

West Houston, where the Energy Corridor is located, has an abundance of sublease space and over 2 million sf in under construction there. On the north side of Houston, Greenspoint has a 20 percent vacancy rate.

The citywide office vacancy rate was 15.4 percent at the end of 2015, up from 11.1 percent at the end of 2014.

Retail is the strongest sector in the Houston commercial real estate market. The retail vacancy rate was 5.8 percent at the end of 2015, down from 6.1 percent a year earlier.

The Houston area industrial market had a 5 percent vacancy rate at year-end.

Realty News Report
Houston-The Woodlands-Sugar Land

See Colliers ​4Q2015 Retail Report​Colliers 4Q2015 Industrial ReportColliers 4Q2015 Office Report to see more data. Don't forget to check out Houston's Market Research for free data on more markets also!

Source: {Source}
San Antonio luxury home prices rise to the occasionSan Antonio luxury home prices rise to the occasionhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=119792016-02-09T06:00:00Z

SAN ANTONIO - Just when it seems like San Antonio's housing market couldn't get any stronger, home prices post an even bigger increase—this time focusing on the top.

The Texas Association of Realtors’ latest luxury home salesreport posted a whopping 36.4 percent increase in luxury home sales, or those priced at $1 million and higher, between January and October 2015.

That number was posted alongside a 3 percent rise in home sales for the San Antonio-New Braunfels metropolitan statistical area for the final three-month period of 2015.

Statewide, luxury home sales continued to be one of the fastest-growing areas of the residential market, with the sweet spot falling between the $1 million and $1.5 million price range.

The report found sales volume increases among the four large metros—San Antonio, Houston, Austin, Dallas-Fort Worth—between 4.5 percent to 36.4 percent.

In San Antonio, homes with price tags in the seven-figure range still account for less than 1 percent of the market, and while active listings increased by 33 percent, the median price of about $1.3 million for a luxury home here is the lowest compared to Austin, Houston and Dallas.

Comparably, Austin's median is $1.38 million and Dallas' is $1.4 million.

But there are two major trends unfolding that could shake up San Antonio's ranking among its three sister cities.

For starters, San Antonio's 3 percent increase in home sales for fourth quarter 2015 far outweighed the statewide 0.3 percent jump, and came alongside a 4 percent rise in the city's median home price. Further, inventory levels and the time a house spends on the market continue to drop.

The next is a statewide trend of rising land values. Forget the homes themselves, since a growing portion of homebuyers shopping on the highest end of the market are purchasing smaller lots, but those in more desirable locations and with more upscale amenities.
San Antonio Business Journal
San Antonio-New Braunfels

Looking for more free housing data? Go see San Antonio's Housing Market Research!​

Read more at the {Source}
New York, DFW tote most bricks, sticks in U.S.New York, DFW tote most bricks, sticks in U.S.https://www.recenter.tamu.edu/news/newstalk-texas/?Item=120392016-02-09T06:00:00Z

​​​​DALLAS-FORT WORTH - New York City and Dallas-Fort Worth were the two fastest growing commercial construction markets in 2015.

In the DFW area,​​ construction of commercial buildings and apartments increased by 35 percent last year from the year before, according to a new report by Dodge Data & Analytics.

DFW ranked third for total building volume with $6 billion in new project starts, behind New York with $34.9 billion in new construction and Miami at $6.3 billion.

Nationwide commercial and apartment building starts rose 8 percent from 2014 levels.

North Texas’ construction totals last year were boosted by the start of the $570 million Facebook data center in North Fort Worth and the $260 million Liberty Mutual Insurance campus in Plano.

On the multifamily building side, the biggest starts were the $170 million Victory Place apartment tower near downtown and the adjacent $150 million Ascent apartment high-rise.
Dallas Morning News
Dallas-Fort Worth-Arlington
http://bizbeatblog.dallasnews.com/2016/02/new-york-d-fw-had-largest-commercial-building-gains-in-2015.html/Read more at the {Source}
CBRE: 2016 Houston retail outlook—balanced, stable and comfyCBRE: 2016 Houston retail outlook—balanced, stable and comfyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=119692016-02-09T06:00:00Z

​​​​​HOUSTON - The retail market is comfortable going into 2016 as it is insulated from some of the contraction within the energy industry.

Steady demand is a result of the strongest population growth in the nation even during previous recessionary periods. According to Moody’s Analytics, the Houston metro area population is forecast to reach 10.9 million by 2045. All of which point to a strong and growing consumer base.​

The strong demand from new consumers and expanding residential development will continue to drive retail employment growth as well.

The Greater Houston Partnership forecasts retail will help bolster employment growth in 2016 adding 4,000 jobs. While the total employment forecast calls for 21,900 jobs to be added with the largest growth sectors being health care, construction and government.

Evolving retail space will dominate the Houston retail market over the next two years. Developers, spurred by population growth and plateauing dirt prices, ramped up construction this year. 

Deliveries added almost 3 million sf of retail space in 2015 which is almost two thirds more than completions in 2014 and future growth is anticipated. ​​

While volatile oil prices hit the office market hard in 2015, resulting in an excess of sublease space, the retail market is the most secure sector in Houston.

Houston-The Woodlands-Sugar Land

​See Houston's Retail Market Research for more retail reports.

Source: {Source}
It's a deal! $130M for Downtown Austin's Radisson HotelIt's a deal! $130M for Downtown Austin's Radisson Hotelhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=120582016-02-09T06:00:00Z

​​​AUSTIN - ​Forestar Group Inc. has agreed to sell the Radisson Hotel & Suites in downtown Austin in a $130 million deal. 

The Radisson is at 111 E. Cesar Chavez St. and overlooks Lady Bird Lake and the Ann W. Richards Congress Ave. Bridge.

The hotel has undergone more than $20 million in renovations since 2013, including the rooms, pool, meeting rooms, ballroom and restaurant.

The buyer is Austin Lakeside Hotel Owner LLC, according to a Forestar Group news release.

The sale is an all-cash deal and is expected to close in the second quarter.

Austin Lakeside has made a $5 million earnest money payment.

Austin American-Statesman
Austin-Round Rock
http://www.mystatesman.com/news/business/forestar-selling-radisson-in-downtown-austin-for-1/nqLmr/Read more at the {Source}
Irving Music Factory hits first high note, Skanska dances to $94M bidIrving Music Factory hits first high note, Skanska dances to $94M bidhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=120322016-02-09T06:00:00Z

​​​LAS COLINAS - Skanska has signed a $94 million contract with the ARK Group to build the Irving Music Factory in Las Colinas. Skanska will convert the existing 16.8-acre greenfield site into an entertainment destination.

The new project will include an 8,000-seating capacity indoor/outdoor concert hall called the Pavilion operated by Live Nation. 

The venue includes seven buildings offering more than 250,000 sf of entertainment, retail and restaurant space and an eight-screen Alamo Drafthouse Cinema.

There will be a four-story, 100,000-sf office tower sitting atop a six-level, 1,200-space parking garage.

The project also features a 50,000-sf plaza and four outdoors stages. The venue is designed to host music performances, fashion shows, farmers markets and food festivals throughout the year. 

Construction for the venue is expected to commence this month and is slated for completion in June 2017.

Dallas-Fort Worth-Arlington
http://rebusinessonline.com/skanska-awarded-94m-construction-contract-for-irving-music-factory-in-metro-dallas/Source: {Source}
U-Haul: Austin still hauls in new residents at No. 3 in U.S.U-Haul: Austin still hauls in new residents at No. 3 in U.S.https://www.recenter.tamu.edu/news/newstalk-texas/?Item=120022016-02-09T06:00:00Z

​​​​AUSTIN - ​The Texas capital remains a hotbed for migration activity and population growth, according to the latest U-Haul migration trends report.​ ​

This comes as no surprise to the hospitable and trendy city that witnessed a larger volume of U-Haul trucks entering and leaving in 2015 than the year prior.

Austin came in with the number three ranking in the U-Haul Top 10 U.S. Growth Cities for 2015 after claiming first on the list for 2014.

Growth rankings are determined by the net gain of incoming one-way U-Haul truck rentals versus outgoing rentals for the past calendar year. ​

"Austin is one of the fastest-growing cities in the country and has been for some time, and for good reason," Austin Mayor Steve Adler said. "But our challenge now is to make sure these U-Haul vehicles don't get stuck in traffic and that the people driving them—as well as the people already here—can afford to pay their bills."

U-Haul locations in Austin saw 50.8 percent of truck rental customers coming into the city as opposed leaving.

Austin welcomed 6 percent more U-Haul arrivals year-over-year, while its departures were up 7 percent over the same span.

The overall bump in U-Haul traffic made the Live Music Capital of the World a very lively hub for do-it-yourself movers.

"Austin leads the country in job growth, including middle-class jobs, but people also move here to go to the University of Texas and to become immersed in our creative community, whether it's the music scene or our growing film industry," Adler said.

Austin is one of two Texas cities on the growth rankings list, with College Station netting sixth.

Online news
Austin-Round Rock
Demographics & Population

​Want more​ on Austin demographics? See Austin Demographics & Population Market Research​.

Also see U-Haul ranking: College Station 'whoops' to No. 6 in U.S.​​

Read more at {Source}
Blockbuster: downtown Austin's 301 Congress sellsBlockbuster: downtown Austin's 301 Congress sellshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=120342016-02-09T06:00:00Z

AUSTIN - ​One of downtown's largest office towers, 301 Congress Ave., has been sold. ​​

Prudential Real Estate Investors purchased the 428,419-sf building from an entity managed by Commonwealth Partners.

Built in 1986, 301 Congress has realized a 68 percent increase in value since 2011 when it was valued at about $86.8 million.

Last year the Travis Central Appraisal District valued the 22-story property at $146.4 million.

Occupancy is around 89 percent.

One of the largest tenants at 301 Congress is RetailMeNot Inc., which is headquartered there. 

Other large tenants are Teza Technologies LLC and Gerson Lehrman Group Inc.

Austin Business Journal
Austin-Round Rock

​C​heck out Austin's Office Market Research reports​.​​​​

Read more at {Source}
One for the books! Tyler sees record home sales in 2015One for the books! Tyler sees record home sales in 2015https://www.recenter.tamu.edu/news/newstalk-texas/?Item=120542016-02-10T06:00:00Z

​​TYLER - Home sales for 2015 were record-breaking according to Claudia Carroll, chairwoman of the Greater Tyler Association of Realtors.​ ​

Yet, while 2016 seems off to a solid start, there could be trouble brewing if oil and gas prices remain low.

In the 30-county region, which includes Smith and Gregg counties, 4,507 homes were sold in 2015. That's up 7.7 percent over 2014's 4,168 homes sold.

"We're thrilled with the numbers overall," Carroll said. "Consumer confidence in the real estate market is at an all-time high. Tyler, Smith County and the surrounding counties saw the benefits."

The year saw an increase in younger, millennial-generation homebuyers.

"What's really hot on the market right now is anything less than $200,000, because that's your first-time homebuyer market," Carroll said. 

"We're seeing more millennials buying now. They're in their 30s now and feeling more comfortable, so they're looking to buy their first homes."

Home sales in the region ended the year on a positive note, with 313 homes sold in December, up 11.8 percent from November's 280 homes sold.

That was down slightly year-to-year, compared to December 2014's 332 homes sold, but the yearly total more than made up for that. ​

The year's dollar volume was another record, she added. 

Across the region, home sales in 2015 totaled $792.1 million, up 10.7 percent over 2014's $715.2 million.

"In three separate months, we saw sales of more than $80 million," Ms. Carroll said. "That's incredible."

However, there are some other troubling economic indicators, particularly oil and gas prices, that could mean a less-robust 2016. ​

Carroll doesn't expect the kinds of foreclosures that the region saw when oil prices crashed in the 1980s.

"Most of us are seeing a brisk start to 2016," she said. ​

Tyler Morning Telegraph
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