Block sold: Rice Mansion, Beyoncé former studioBlock sold: Rice Mansion, Beyoncé former studiohttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=166682017-05-26T05:00:00Z2017-05-26T22:45:00Z

​​Rice Mansion front view 2017HOUSTON – Music World Entertainment's Midtown property, located at 1505 Hadley St., has been sold.

The sale of the property, a full city block in Midtown, includes a historic estate, known as the Rice Mansion, which is a three-story home built in the early 1900s.

The House of Dereon Media Center, an event space, is also on the 62,500-sf block, which is appraised by the Harris County Appraisal District at $4.7 million.

In 2002, Music World purchased the property, bordered by Webster, LaBranch, Crawford and Hadley streets, from an attorney for $2.5 million.

Additionally the property houses the studio where Houston-born superstar Beyoncé 's career was launched.​​

Houston Chronicle
Houston-The Woodlands-Sugar Land

​​Check out Houston Market Research for property sales, rents and stats.

Read more at the {Source}
High-flying retail to George Bush Intercontinental AirportHigh-flying retail to George Bush Intercontinental Airporthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=166852017-05-26T05:00:00Z2017-05-26T22:45:00Z

​​HOUSTON – World-class retail shopping options and new restaurants now awaits customers at George Bush Intercontinental Airport with the completion of an ambitious new restaurant and retail program executed by the Houston Airport System, United Airlines, and dining and retail partners.

The massive makeover produced 43 new and diverse retail-shopping options, 30 restaurants, and nine new coffee shops.

Global brands, local favorites, chef-inspired cuisine and fine dining have been added.

​The new program includes global brands such as Chanel, Hugo Boss, iStore Boutique, MAC, The Body Shop, TUMI, Hard Rock Café and more.​​

Online news
Houston-The Woodlands-Sugar Land

​Check out Houston Retail Market Research.

Check {Source} for more information
Pearl polishes up CellersPearl polishes up Cellershttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=166892017-05-26T05:00:00Z2017-05-26T22:30:00Z

​​​SAN ANTONIO – Silver Ventures is putting the finishing touches on Cellars, its new ten-story luxury residential development.

The luxury residence is located at the Pearl, a historic brewery site, bringing a higher end multifamily rental market to the city.The Pearl 10 story luxury apartments.

The 122-unit development's monthly rental rates range from $1,830 for a single-bedroom apartment to penthouse spaces that are commanding more than $8,600.

The list of amenities includes private dining space, specially curated art and a rooftop pool complete with cabanas crafted from portions of original brewery tanks.

San Antonio Business Journal
San Antonio-New Braunfels
http://www.bizjournals.com/sanantonio/news/2017/05/25/see-inside-pearls-new-luxury-apartment-development.htmlRead more at {Source}
Jan's jotted notes: Austin real estate deals to knowJan's jotted notes: Austin real estate deals to knowhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=166612017-05-26T05:00:00Z2017-05-26T22:00:00Z

​​​AUSTIN – It is 'catch-all' column time to mention some worthy and interesting projects, reports Jan Buchholz, senior staff writer at the Austin Business Journal.

  • The American Association of Nurse Practitioners has purchased a 4.2-acre parcel in far Southwest Austin with plans to build a 34,000-sf, standalone office.

  • A joint venture of Washington Prime Group Inc. and O'Connor Mall Partners LP has acquired three high-profile retail properties in Northwest Austin including: 

    The Arboretum, 
    10000 Research Blvd., received a loan for $59.4 million, according to SEC filings​.
    Gateway Market at 9607 Research Blvd. and The Shops at Arbor Walk, 10515 N. MoPac Expressway, were also sold.

    Also included was the Palms Crossing in McAllen.

  • ​​Allegiant Realty Partners is developing a 445-acre master-planned community in Kyle, which will encompass 1,500 homes.

    Phase I is set to deliver about 226 single-family units.

    At build-out the community is projected to be valued at $375 million. 
Austin Business Journal
Austin-Round Rock
http://www.bizjournals.com/austin/news/2017/05/24/5-key-austin-real-estate-deals-to-know-creative.htmlRead more at {Source}
The Great Southwest building transformation to hotelThe Great Southwest building transformation to hotelhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=166732017-05-26T05:00:00Z2017-05-26T22:00:00Z

side view of the The Great Southwest building​HOUSTON – The Great Southwest building, built in 1927 in downtown Houston, is being redeveloped into a hotel.

The 148,000-sf building, located at 1314 Texas Ave., is two blocks east of Hines’ new 609 Main building and two blocks west of Minute Maid Park.

Choice Hotels International bought the property in 2016 as part of its plan to open ten Cambria hotels in Texas.​

Realty News Report
Houston-The Woodlands-Sugar Land

​Check out Houston Hotel Market Research.

Source: {Source}
Brownsville area office 4Q 2016 report: BurbachBrownsville area office 4Q 2016 report: Burbachhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=166912017-05-26T05:00:00Z2017-05-26T22:00:00Z

BROWNSVILLE-HARLINGEN – The local market contained approximately 3.7 million sf as of fourth quarter 2016, according to Burbach & Associates and CoStar Group.

The overall vacancy rate was 5.2 percent in 4Q 2016.

The average total market rental rate was $15.64 per sf, with Class A office showing $20.76 per sf.

Burbach & Associates Inc.
https://assets.recenter.tamu.edu/Documents/MktResearch/Brownsville_Harlingen_Burbach_Commercial.pdfRead more at {Source}
Entertainment centers to East Side, West SideEntertainment centers to East Side, West Sidehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=166882017-05-26T05:00:00Z2017-05-26T21:10:00Z

​​EL PASO – Cinergy Entertainment Group of Dallas and an El Paso developer are planning to put two entertainment centers in the city, one in the East and one in the West.

The entertainment center, in East El Paso, will be located at the Plaza del Rey shopping center on the southeast corner of I-10 and Americas Ave., becoming the second planned center in El Paso.

A rendering of a proposed Cinergy entertainment complex.

The center in West El Paso is a 90,000-sf complex, costing $28 million to $30 million and will be located at the Franklin Galleria shopping center.

Both Cinergy complexes would have a ten screen, dine-in cinema, bowling lanes, an arcade and bars, Cinergy officials said.

Jeff Benson, Cinergy CEO, said Cinergy and West Retail would work together to build the two complexes, which Cinergy would lease from West Retail after construction is completed.

The proposed 240-acre Plaza del Rey and proposed 112-acre Franklin Galleria are the first shopping center developments to be done by West Retail.

The West Side Cinergy complex is projected to open in May 2018, and the East Side complex is projected to open in summer 2018, according to news releases issued by Cinergy and West Retail.

El Paso Times
El Paso
http://www.elpasotimes.com/story/news/local/el-paso/2017/05/24/el-paso-real-estate-development-movie-theater/102013168/Source: {Source}
Lubbock housing market's power houseLubbock housing market's power househttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=166472017-05-26T05:00:00Z2017-05-26T21:00:00Z

​​​​LUBBOCK – Lubbock has started 2017 on a high note, with first quarter 2017 home sales outpacing last year by nearly 5 percent while the median price in​​creased about 1 percent to $144,000, according to data released by the Texas Association of Realtors.​

Housing market by the numbers:

  • 98,399 - Texas home sale listings for 1Q 2017, a 6 percent increase over the first quarter of 2016
  • 68,420 - Texas home sales, a 4.6 percent increase over the first quarter of 2016
  • 803 - Lubbock home sales, a 4.8 percent increase over the first quarter of 2016
  • 365 - Number of residential permits issued in Lubbock through the first quarter of 2017, up 52.1 percent from 2016
  • $144,000 - Median Lubbock home sales price in the first quarter of 2017, a 0.7 percent increase from the same period in 2017
  • 6.1 - Percent increase in Lubbock home sales in March 2017 compared to March 2016
Lubbock Avalanche-Journal

​Want​ to see the full report? Check it out here​.

Read more at {Source}
Criminal Justice training facility breaks ground in KyleCriminal Justice training facility breaks ground in Kylehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=166552017-05-26T05:00:00Z2017-05-26T21:00:00Z

​​​​​​AUSTIN​ – Austin Community College representatives say an expansion at their Hays campus will give them a world-class training facility for their criminal justice program.

Rendering of criminal justice centerThe $22.4 million space, located next to the current Hays campus at 1200 Kohlers Crossing, Kyle, will house the criminal justice and emergency medical services professions programs.

It will feature a law-enforcement training center, emergency vehicle operations track, an indoor firing range, space for police simulation training and classrooms specially designed for emergency management operations training.

ACC is on track to offer courses at the new space by fall 2018. ​

Community Impact Newspaper
Austin-Round Rock
https://communityimpact.com/austin/development-construction/2017/05/08/acc-hays-campus-break-ground-second-phase/Source: {Source}
Austin housing sales heat up for summerAustin housing sales heat up for summerhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=166492017-05-26T05:00:00Z2017-05-26T20:30:00Z

​​​​​AUSTIN – There were 2,640 single-family home sales in the metro in April, up 3.2 percent from the same month in 2016, according to data released by the Austin Board of Realtors.

Infographic for the Austin housing market Listings were up by nearly 17 percent in April and there were more than 14,000 home starts in the first quarter.

Median price increased 5.8 percent year-over-year to $305,000—the second-highest monthly median price ever recorded in the metro, according to the Austin American-Statesman​—and the number of active listings climbed 16.9 percent to 6,474.

Housing inventory, which refers to how long it would take to sell all the homes in the market if new listings stopped, was 2.6 months, up from 2.3 months in April 2016. ​

Austin Board of Realtors
Austin-Round Rock

​Check out housing data from other Texas cities and the United States at ​Prudential Ada, Realtors​.

See the full report at the {Source}
Georgetown housing market data by ZIPGeorgetown housing market data by ZIPhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=166672017-05-25T05:00:00Z2017-05-26T20:00:00Z

​​GEORGETOWN – The latest housing market data has been released by Community Impact Newspaper. 

Graphs of market data

Community Impact Newspaper
Austin-Round Rock
https://communityimpact.com/austin/georgetown/housing-real-estate/2017/05/15/median-home-prices-april-increase-georgetown/Source: {Source}
Pflugerville's welcome mat for hotelPflugerville's welcome mat for hotelhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=166802017-05-26T05:00:00Z2017-05-26T20:00:00Z

​PFLUGERVILLE – The four-story Courtyard by Marriott Austin Pflugerville has officially opened its doors.

Courtyard Marriott in PflugervilleLocated at 16100 Impact Way, the 147-room hotel will operate as a Marriott franchise.

The hotel offers 20,177 sf of flexible meeting space to accommodate functions of up to 1,100 people.​

Online news
Austin-Round Rock
https://www.traveldailynews.com/post/courtyard-hotel-to-open-in-pflugerville-texasSource: {Source}
All Texas industries except information see year-over-year job gain in AprilAll Texas industries except information see year-over-year job gain in Aprilhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=166922017-05-26T05:00:00Z2017-05-26T15:00:00Z

​​​COLLEGE STATION – Texas’ pace of job creation continued to exceed the nation’s in April. The state gained 258,900 nonagricultural jobs from April 2016 to April 2017, an annual growth rate of 2.2 percent, higher than the nation’s employment growth rate of 1.6 percent.

The nongovernment sector added 224,300 jobs, an annual growth rate of 2.2 percent, higher than the nation’s employment growth rate of 1.7 percent in the private sector.

According to the Real Estate Center’s latest Monthly Review of the Texas Economy, Texas’ seasonally adjusted unemployment rate in April was 5 percent, up from 4.6 percent a year ago 2016. The nation’s rate decreased from 5 to 4.4 percent.

All Texas industries except the information industry had more jobs than a year ago. The transportation, warehousing, and utilities industry ranked first in job creation followed by education and health services, professional and business services, other services, leisure and hospitality, financial activities, and mining and logging.

All Texas metro areas except Wichita Falls, Odessa, Beaumont-Port Arthur, Longview, Victoria, San Angelo, and Texarkana, had more jobs. Dallas-Plano-Irving ranked first in job creation followed by El Paso, Austin-Round Rock, Killeen-Temple-Fort Hood, San Antonio-New Braunfels, and Laredo.

The state’s actual unemployment rate last month was 4.5 percent. Amarillo had the lowest unemployment rate followed by Austin-Round Rock, College Station-Bryan, Lubbock, Midland, and San Antonio-New Braunfels.​​

Real Estate Center
Read more at {Source}
DFW commercial building jumps in AprilDFW commercial building jumps in Aprilhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=166942017-05-26T05:00:00Z2017-05-26T15:00:00Z

​​​​DALLAS – More than $1.5 billion in nonresidential building projects were begun in the area last month,​ according to a new report by Dodge Data & ​Analytics. That's almost three times more than a year ago.

The strong April commercial building total pushed commercial construction for the year up 6 percent from the first five months of 2016.

Residential building fell 6 percent last month from a year ago. It's down 7 percent so far this year. 

DFW had $21 billion in construction activity last year, putting it behind only New York City.​​

Dallas Morning News
Dallas-Fort Worth-Arlington
https://www.dallasnews.com/business/real-estate/2017/05/25/d-fw-commercial-building-surged-aprilRead more at {Source}
TPWC awards $3.46 million in recreational trail grantsTPWC awards $3.46 million in recreational trail grantshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=166932017-05-26T05:00:00Z2017-05-26T14:00:00Z

​​​​AUSTIN – The Texas Parks and Wildlife Commission (TPWC) approved $3.46 million dollars in grants to enhance 22 motorized and nonmotorized recreational trail-related projects across the state.

The National Recreational Trails Fund (NRTF) supports recreational trail construction, renovation, and acquisition. The grants are funded from a portion of the federal gas tax generated by gasoline purchases for off-road motorcycles and four-wheelers.

Of the total NRTF grants, 30 percent must be earmarked for motorized recreational trails, and another 30 percent must be spent on nonmotorized trail projects. The remaining 40 percent is discretionary.​​

​Visit the TPWC website to see a complete listing of counties and projects. ​

Texas Parks & Wildlife
http://tpwd.texas.gov/newsmedia/releases/?req=20170525b&nrtype=all&nrspan=2017&nrsearch=Read more at {Source}
New distribution hub neighbor to AmazonNew distribution hub neighbor to Amazonhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=166722017-05-25T05:00:00Z2017-05-25T22:50:00Z

​​​GRAPEVINE – Real estate investment and development firm DCT Industrial Trust Inc. has acquired a tract adjacent to a massive Amazon distribution hub with plans to develop the second phase of an industrial park in Grapevine.

The 12.88-acre tract east of the intersection of Enchanted Way and Bass Pro Dr. is slated to include a two-building complex totaling 194,000 sf of industrial space.

DCT Industrial hired Dallas-based Pross Design Group to design the two distribution warehouse buildings, one of which will total about 110,000 sf and the second totaling about 84,000 sf of industrial space.
Dallas Business Journal
Dallas-Fort Worth-Arlington

​​Want more data? See DFW Industrial Market Research. 

Read more at the {Source}
REOC San Antonio medical office 1Q 2017 REOC San Antonio medical office 1Q 2017 https://www.recenter.tamu.edu/news/newstalk-texas/?Item=166532017-05-25T05:00:00Z2017-05-25T20:20:00Z

SAN ANTONIO – The medical office market experienced a slight shift in occupancy in first quarter 2017 from 1Q 2016.

A new report by REOC San Antonio​ shows that just over 1.4 million of the 7.2 million sf of medical space available for lease in the San Antonio market was unoccupied during 1Q 2017.

More tenants are looking beyond traditional medical office buildings and to explore other potential spaces, including retail centers that can provide greater exposure.

The shift to nontraditional space is visible downtown, where CaptureRx is taking five floors in a former Houston Street department store to accommodate its new headquarters and hundreds of personnel.

CaptureRx's planned move downtown will further lower the vacancy rate downtown, which was at 16.6 percent in 1Q 2017.

The vacancy rate outside of the Central Business District was nearly 21 percent during 1Q 2017.​​

San Antonio Business Journal
San Antonio-New Braunfels

Also see San Antonio Market Research for quarterly data for ​​office and ​industrial stats.

Source: {Source}
Bring your baskets! Downtown Austin's grocery store Bring your baskets! Downtown Austin's grocery store https://www.recenter.tamu.edu/news/newstalk-texas/?Item=166542017-05-25T05:00:00Z2017-05-25T20:00:00Z

​​AUSTIN – If you live or work in downtown Austin, there's something exciting in store for you.

shelves of produce in market

A grocery store is on tap for the eastern edge of the central business district.

A mixed-use project planned for Seventh and Trinity streets has carved out 27,109 sf for a grocery store.

That would make it the largest grocery store on the east side of downtown Austin.

A filing with the City of Austin offers no other details about what is simply described as a “supermarket."

CultureMap Austin
Austin-Round Rock
http://austin.culturemap.com/news/city-life/05-21-17-downtown-austin-high-rise-first-supermarket-grocery/Source: {Source}
College graduates 2017: what employers are sayingCollege graduates 2017: what employers are sayinghttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=166302017-05-25T05:00:00Z2017-05-25T19:25:00Z

​​​​​U.S. – More employers plan to hire college graduates this year than they did last year, according to a new CareerBuilder survey.

A whopping 74 percent of employers say they plan to hire recent college graduates this year, up from 67 percent last year and the highest outlook since 2007.​​

Thirty-nine percent of employers hiring recent college graduates also said they will pay a starting salary of $50,000 or more, compared with 27 percent last year.​

Even so, some employers are concerned new college grads aren't ready for the workforce, with 17 percent saying academic institutions are not adequately preparing students for roles needed within their organizations, a decrease from 24 percent last year.

Employers said technology is changing too quickly for an academic environment to keep up and entry-level roles are more complex today.

When asked to name which skills employers think recent college graduates lack for the workplace, most of these employers cited interpersonal or people skills (50 percent) or problem-solving skills (45 percent).​

Other skills these employers say are lacking are as follows:

• Teamwork: 39%​​

• Oral communication: 39%

• Leadership: 38%

• Written communication: 35%

• Creative thinking: 34%

• Project management: 26%

• Research and analysis: 17%

• Computer and technical: 17%

• Math: 14%​
Online news

Source: {Source}
Fortune 100 company distribution center to South SideFortune 100 company distribution center to South Sidehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=166562017-05-25T05:00:00Z2017-05-25T19:00:00Z

​​SAN ANTONIO – A tax incentive package has been approved to lure the Massachusetts parent company of T.J. Maxx and Marshalls to build a $150 million distribution center on the city's South Side.

TJX Companies Inc., a Fortune 100 company, will create 1,000 jobs over five years on the city's South Side and construction on the 1.5 million-sf warehouse is expected to be completed by the end of 2019.

The city agreed to not annex—for at least 15 years—the 1,200 acres near Mission Espada where TJX plans to build the warehouse; a move intended to keep the company's property taxes low.

The 1,200-acre lot—currently owned by Redus Texas Land—land falls outside of city limits so it's ineligible for city incentive funds and tax abatements.

The site will be bounded by Loop 410 on the north, Goeth Rd. on the south, the San Antonio River on the east and US 281 on the west.

TJX has told the city it intends to pay employees at least $10 an hour and provide health and retirement benefits for eligible, full-time employees.

San Antonio-New Braunfels
http://www.mysanantonio.com/business/local/article/San-Antonio-City-Council-OKs-tax-package-for-11155840.phpRead the full article at {Source}

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