DFW home values soar high pushing foreclosures down lowDFW home values soar high pushing foreclosures down lowhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=112992015-12-02T06:00:00Z

​​​DALLAS-FORT WORTH - As home prices in North Texas have hit record highs, the number of houses set for forced sale by lenders has dropped to the lowest point in almost 15 years.

A huge turnaround from the recession in 2010 when a record 63,835 DFW homes were scheduled for foreclosure, sent to the courthouse steps by plunging residential values and rising unemployment. 

North Texas was one of the last U.S. markets to see the housing crash and one of the first to make it to a recovery.

This year, only 15,846 homes were posted for foreclosure by lenders, according to Addison-based Foreclosure Listing Service.

The smallest number of foreclosure filings has been in Collin and Denton counties, where only about 3,100 properties went into default.

Home prices in DFW are up about 10 percent this year and prices have risen 35 percent since 2012, according to the Case-Shiller Home Price Index.

Dallas now has one of the lowest big-city foreclosure volumes in the country, and at midyear, the area had the second highest home equity levels in the country.

Continued strong employment gains and record population growth will keep demand for houses high and foreclosure signs will be fewer and farther between in 2016.
Dallas Morning News
Dallas-Fort Worth-Arlington

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REOC: Austin 3Q 2015 office marketREOC: Austin 3Q 2015 office markethttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=112972015-12-01T06:00:00Z

​​​​AUSTIN - The ​Austin Office Building Update report for third quarter 2015 has been released by REOC Austin.

Austin's strong population and job growth have helped continue the strong demand for office space.​

The Austin office market closed 3Q 2015 with a citywide vacancy rate of 9.5 percent, which is slightly up compared to the 9.0 percent recorded a year ago.

Over the past four quarters, the market experienced more than 1.3 million sf of positive net absorption, with 705,793 sf being absorbed in 3Q 2015.

Analysis by REOC Austin based on data provided by Xceligent and approved by Austin Office Advisory Board. Includes all multi-tenant office projects of 20,000 sf or more (excluding Owner-Occupied, Medical, Single-Tenant and Government-only buildings).


Don't fo​rget to check out Austin Office Market Research for more information.
Austin-Round Rock
https://assets.recenter.tamu.edu/Documents/MktResearch/Austin_REOC_Office.pdfSee the full report at {Source}
200,000-SF Embassy Suites' reservation near Amarillo convention center200,000-SF Embassy Suites' reservation near Amarillo convention centerhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=112692015-12-01T06:00:00Z

​​​AMARILLO - Irving-based hotel developer NewcrestImage has landed more than $28 million in financing to develop a 225-room, full-service Embassy Suites hotel, which will help anchor Amarillo's civic center. 

The new 200,000-sf Hilton-branded hotel is part of the planned improvements for downtown Amarillo surrounding the city's civic center, which includes a multipurpose convention center, parking garage, entertainment venue and ballpark.

Plans for the new development include 30,000 sf of meeting and function space, 300 parking spots in an adjacent parking garage for the hotel's exclusive use, lounge and lobby bar, full-service restaurant, pool and fitness center.

Construction on the new hotel development in Amarillo is slated for completion in 2017.

Dallas Business Journal
http://www.bizjournals.com/dallas/blog/morning_call/2015/11/irving-based-developer-gets-28m-to-build-new-hotel.htmlRead more at the {Source}
The Cottages at Hickory Crossing arrive for Dallas' homelessThe Cottages at Hickory Crossing arrive for Dallas' homelesshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=113002015-12-02T06:00:00Z

​​​DALLAS - Fifty homeless men and women are set to move into basic, 400-sf cottages on the edge of downtown Dallas beginning in February 2016.

The Cottages at Hickory Crossing, a new model of permanent housing in North Texas, cost $6.8 million to build, including $1.1 million for the purchase of land.

More than 3,100 people are homeless in Dallas and Collin counties, according to one count this year by Metro Dallas Homeless Alliance.

Of those, 615 were chronically homeless — meaning they have been homeless more than a year and have a disability, such as mental illness, drug addiction or a physical issue. The number of chronically homeless people rose by 26 percent from 2014 to 2015, according to the alliance.

Over the past decade, the alliance has worked on a plan to end chronic homelessness in Dallas and Collin counties by this year.

The cottages will have on-site medical care and round-the-clock security. They will provide intensive support for 50 people who are in danger of dying on the street.

Much of the money to support the cottages and their residents will come through the federal government. Some will come through donations and other private assistance.

Dallas Morning News
Dallas-Fort Worth-Arlington
http://www.dallasnews.com/news/metro/20151128-can-cottages-cure-homelessness-dallas-project-to-offer-answers.eceRead more at the {Source}
Houston: Lower rent in Exxon Mobil's vacant Greenspoint officeHouston: Lower rent in Exxon Mobil's vacant Greenspoint officehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=112912015-12-02T06:00:00Z

​​HOUSTON - Champions Pipe & Supply will fill a bit of space vacated by Exxon Mobil Corp. in Greenspoint, a market in north Houston with an abundance of available office space.

The global distributor of drill pipe and supplies has leased 19,457 sf at 4 Greenspoint Place at 16945 Northchase Dr.

The 23-story, 403,384-sf building is part of Greenspoint Place, a 36-acre office and retail development owned by Hines and the General Motors Pension Fund. Located just north of Beltway 8, the complex surrounds the 480-room Hilton Houston North hotel.

Champions Pipe & Supply is relocating within Greenspoint from 2 Northpoint. New amenities at the complex, including a 7,000-sf fitness center and a 10,000-sf conference center, were draws.

Exxon Mobil, which is consolidating most of its Houston offices to its new 3 million-sf campus in Springwoods Village, moved out of a portion of the 1.2 million sf it leased in Greenspoint Place last year. Its current leases there expire at the end of 2016 and the end of 2018.​

Exxon Mobil is one of three big energy companies that left large blocks of space in Greenspoint for new suburban buildings recently.

Southwestern Energy relocated to its new 515,000-sf headquarters building in Springwoods Village earlier this year. Noble Energy, which was headquartered in Greenspoint until 2012, now occupies a new corporate campus off Texas 249 and Louetta in northwest Houston.

This has helped push the vacancy rate for Class A office buildings in the North Belt/Greenspoint submarket to 31.3 percent in third quarter 2015, or 43 percent including sublease space, according to CBRE.

Class A rents in the Greenspoint Place complex range from $16 to $22 net per sf per year. That compares with $18 to $28 net for top buildings in the Galleria submarket.​

Houston Chronicle
Houston-The Woodlands-Sugar Land

Click here to see the latest Market Research on Houston's office market.

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Waco's 119-unit Car Mel sellsWaco's 119-unit Car Mel sellshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=112962015-12-02T06:00:00Z

​​​​WACO - Car Mel, a 119-unit apartment property, has sold.

Car Mel is located at 3638 W. Waco Dr., just one-half mile northeast of North Valley Mills Dr. 

Constructed in 1974, the property is situated on approximately 4.15 acres of land adjacent to the Castle Heights neighborhood. 

The community consists of 16 apartment buildings and three amenity buildings and has a unit mix of 94 one-bedroom/one-bath units, 16 two-bedroom/one-bath units, eight two-bedroom/two-bath units and one three-bedroom/three-bath unit. 

Historically, Car Mel has successfully maintained occupancy rates in the mid-to-high 90 percent range.

Marcus & Millichap Real Estate Investment Services
http://www.marcusmillichap.com/Read more at {Source}
Clarksville 76,000-SF hospital shows signs of lifeClarksville 76,000-SF hospital shows signs of lifehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=112902015-12-02T06:00:00Z

​​​CLARKSVILLE, RED RIVER COUNTY - ​Wert-Berater Inc. has been engaged to provide a feasibility study for the renovation and expansion of the recently closed three-story, 76,000-sf general hospital that was formerly operated as the 86-bed East Texas Medical Center Clarksville​. 

The renovation plan includes an interior renovation that will see the gutting and replacement of the plumbing, electrical, furniture, fixtures, equipment and technology on all three floors.

An estimated 10,000 to 15,000 sf of usable building area is planned to be added to the gross building area, along with an unspecified bed number expansion. 

The scope of this study includes four tests of project viability: economic feasibility; market feasibility; cost feasibility; and financial feasibility.​

http://www.pr.com/press-release/647714Read more at {Source}
Cushman Wakefield: DFW Industrial Snapshot 3Q 2015Cushman Wakefield: DFW Industrial Snapshot 3Q 2015https://www.recenter.tamu.edu/news/newstalk-texas/?Item=113012015-12-01T06:00:00Z

​DALLAS-FORT WORTH - Developers responded to the surge in demand for industrial space in 2013-2014 with a multitude of build-to-suit and speculative projects in DFW, and many of those projects have been completed this year. 

Overall vacancy recorded 7.7 percent in third quarter 2015, a slight uptick from 7.4 percent in 2Q 2015, but below last year's 8.0 percent.

New supply delivered in 2015 totals 10.9 million sf with approximately two-thirds being spec buildings and 45 percent of the spec space pre-leased.

The amount of industrial space under construction currently totals a record 20.9 million sf with 76 percent spec, of which almost half is already preleased.

Approximately 6.8 million sf is scheduled to deliver by year-end. The unusually heavy rains this spring delayed work on several construction projects and could push completion on many buildings into 1Q 2016.

Cushman & Wakefield
Dallas-Fort Worth-Arlington

​See Dallas-F​ort Worth Industrial Market Research​ for free data!

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Shadow Creek Marketplace sells in Pearland Shadow Creek Marketplace sells in Pearland https://www.recenter.tamu.edu/news/newstalk-texas/?Item=113232015-12-01T06:00:00Z

​PEARLAND - Shadow Creek Marketplace, a 42,332-sf retail center situated on 20.5 acres, located at 11005 Shadow Creek Parkway in Pearland has sold.

The property was completed in 2009 and is shadow-anchored by a 100,000-sf Kroger Signature grocery store. Tenants include national retailers Subway, Little Caesar’s, Cricket Wireless, Sport Clips and Nationwide Insurance.

The center is approximately 94 percent leased, with 2,604 sf available for occupancy.

JLL Capital Markets experts negotiated the sale.

Houston-The Woodlands-Sugar Land
http://www.us.jll.com/united-states/en-us/news/3770/jll-negotiates-sale-of-shadow-creek-marketplace-in-pearland-texasCheck {Source} for more information
Land purchase paves way for tall IndependentLand purchase paves way for tall Independenthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=113242015-12-01T06:00:00Z

​​AUSTIN – CIM Group, Constructive Ventures and Aspen Heights have closed on the purchase of 1.7 acres at the northeast corner of West Third St. and West Ave. in downtown Austin, marking a milestone in the development of The Independent, a 370-unit condominium tower.

The developers are touting the 58-story Independent as "the tallest residential tower west of the Mississippi." The Austin Business Journal reports​ that the City of Austin was paid $14.5 million for the land.

Demolition and site work begin this month.​

In 2010, the City of Austin and Constructive Ventures entered into a master development agreement for the sale and redevelopment of the full city block, the former site of the Austin Energy Control Center. The economic development department led the project on behalf of the city.

Completing the land acquisition is the final step in the predevelopment process. The development team has engaged Balfour Beatty Construction as general contractor, and the project has secured construction financing.  

Columbus Communications
Austin-Round Rock
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Texas economy cooling with the weatherTexas economy cooling with the weatherhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=113262015-12-01T06:00:00Z

​​COLLEGE STATION – Texas’ economy is cooling. The state gained 204,800 nonagricultural jobs from October 2014 to October 2015, an annual growth rate of 1.7 percent, lower than the nation’s growth rate of 1.9 percent. The nongovernment sector added 181,900 jobs, an annual growth rate of 1.8 percent compared with 2.2 percent for the nation’s private sector.

According to our latest Monthly Review of the Texas Economy, Texas’ seasonally adjusted unemployment rate fell to 4.4 percent in October 2015 from 4.7 percent in October 2014. The nation’s rate decreased from 5.7 to 5 percent.

All Texas industries except mining and logging and manufacturing had more jobs. The state’s leisure and hospitality industry ranked first in job creation followed by education and health services, professional and business services, information and trade.

All Texas metro areas except Wichita Falls and Texarkana had more jobs. San Antonio-New Braunfels ranked first in job creation, followed by Dallas-Plano-Irving, Austin-Round Rock, McAllen-Edinburg-Mission and Victoria.

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

Real Estate Center
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October 2015 building permit data now onlineOctober 2015 building permit data now onlinehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=113272015-12-01T06:00:00Z​COLLEGE STATION – October 2015 building permit data are now on our website.

The site also allows direct data downloads of the complete history in three separate CSV files — one for all states, one for all MSAs and one for all Texas counties. This means each complete data set can be imported into analysis tools like Excel for further analysis and graphing.
Real Estate Center
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Waco booming home, car sales, 'Fixer-Upper' drive economyWaco booming home, car sales, 'Fixer-Upper' drive economyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=113282015-12-01T06:00:00Z

​​WACO - Residents of Greater Waco continue to buy vehicles and homes as if they’re going out of style, pushing the Greater Waco Economic Index again into record territory in October, according to a report this week by Amarillo-based economist Karr Ingham.

Chip and Joanna Gaines continue to make waves with their hit cable show “Fixer Upper,” as well as their new Magnolia Market at the Silos at South Eighth St. and Webster Ave. that is attracting tens of thousands of visitors from around the nation.

Kevin Vander Woude, a real estate agent for the Gaines’ Magnolia Homes, said he’s fielding calls from viewers in many states, but particularly California, Nevada and Arizona, who like what they see of Waco on the show and want to move here.

Woude says California residents are lured by the prospect of spending $200,000 for a 2,000-sf home that would cost $600,000 in the Golden State.

Ingham reported that 2,362 homes have changed hands through the first ten months of the year, an 11.4 percent jump from 2014. Increased demand and diminishing supply are pushing home prices upward in Greater Waco, where the average price of a house sold this year stands at $164,601, an increase of more than 10 percent.

Inflation-adjusted spending on cars and trucks nearly hit $45 million last month, an 8.4 percent increase over October of last year, which in turn was up 10 percent from October the previous year. Sales through October were pushing $450 million, a 6 percent increase from last year.

Ingham and other observers of the local economic scene attribute the surge to the increasing number of restaurants and retail establishments opening in the Waco area, including Saltgrass Steakhouse, Freddy’s Frozen Custard & Steakburgers, La-Z-Boy Home Furnishings and Decor, Five Below, World Market and Haverty’s Furniture, among others.

“The number of jobs in the Greater Waco metro area economy is at an all-time high and continues to grow; the pace of that growth is at or above its average over the last 15 years or so at about 1.5 percent through October,” Ingham said in his report. “The Waco metro area unemployment rate of 4.1 percent in October ranks as 10th best among the state’s 26 metro areas, and is the lowest for the month of October over the entire history of the GWEI analysis, based in the year 2000.”

Several high-profile construction projects have wrapped up this year, including Magnolia Market; the conversion of the former Percy Medicine building downtown into a shop called The Findery; the opening of a new retail strip in Central Texas Marketplace; and creation of space for an Amish furniture store at Westview Village.

Whitney Richter, who oversees marketing and business development for the Greater Waco Chamber of Commerce, said the totals for home construction reflect only those in the City of Waco, not in hot spots such as China Spring, Hewitt and Woodway, whose numbers Ingham did not provide in this economic snapshot.

Waco Tribune-Herald

See Waco's Market Research to see the latest market data.

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Dallas Fed survey: Texas manufacturing improvingDallas Fed survey: Texas manufacturing improvinghttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=113202015-12-01T06:00:00Z​DALLAS – Texas factory production continues to recover from a long decline earlier this year, according to a survey released yesterday by the Federal Reserve Bank of Dallas.

The Fed’s production index, which measures the growth of manufacturing activity, was positive for the third month in a row, rising to 5.2 in November from 4.8 in October. The index was below zero from March to August, the longest negative stretch since 2009.

The survey, based on responses from 124 Texas manufacturers, shows a sharp increase in the number of manufacturers who are hiring. The employment index, which measures how many manufacturers hired employees during the month, rose to 11.6 from 0.3 last month.

Manufacturers also are becoming more optimistic about their companies’ futures, the survey indicates. The company outlook index, which measures whether manufacturers think their companies have better days ahead, rose to 0.8 from minus 4.1 last month — its first entry into positive territory since July.

The general business activity index, which measures manufacturers’ perception of business conditions in the state, remained negative at minus 4.9, but it rose from minus 12.7 last month.​
San Antonio Express-News
http://www.mysanantonio.com/business/local/article/Texas-manufacturing-continues-to-improve-survey-6665567.phpRead more at {Source}
Nearly 260,000 SF of industrial planned near DFW InternationalNearly 260,000 SF of industrial planned near DFW Internationalhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=113222015-12-01T06:00:00Z

​​DALLAS – Construction is advancing on DFW East Logistics Center, a three-building speculative project designed to leverage the record-low industrial vacancy in the Dallas-Fort Worth International Airport submarket.

Bradford Commercial Real Estate Services and its Los Angeles-based investment partner are developing an 18-acre tract on the east side of the aiport, where the present industrial vacancy is less than 10 percent.

The LEED-designed project will add 259,555 sf of Class-A industrial space in single-story structures with 24- and 32-foot clear heights.

"We expect DFW East to be 40 to 60 percent leased when it delivers in the second quarter and fully leased by the end of 2016," says Joe Santaularia, a vice president with Dallas-based Bradford Commercial.

Dallas-Fort Worth-Arlington
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Spreading the wealth from San Antonio suburbs to downtownSpreading the wealth from San Antonio suburbs to downtownhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=112502015-12-01T06:00:00Z

​​​SAN ANTONIO - With companies such as Valero Energy Corp., Rackspace Hosting Inc., Harland Clarke, Tesoro Corp., USAA, Security Service Federal Credit Union and NuStar Energy LLP headquartered in the northern rim of the city, it is no surprise that is where you will find the most affluent neighborhoods and the most expensive submarkets across San Antonio.

Nine of the ten most affluent ZIP codes in the San Antonio area are outside Loop 1604 to the north, northwest and northeast of San Antonio International Airport. The other ZIP code, 78248, borders Loop 1604 on its northern edge.

Much of the city’s new development is in the northwestern submarket around I-10 and Loop 1604, where the average home price has soared in recent years to $617,013 — well above the average San Antonio home price of $231,116.

At the same time, however, there are signs that some of that affluence may be moving south.

San Antonio Board of Realtors Chairman Mary Ann Jeffers said the city’s growth in recent years has resulted in neighborhoods across the city expanding rapidly. Meanwhile, an increase in new home construction and a rising condominium market have triggered shifts among affluent homebuyers.

“Some buyers prefer the location of downtown and opt for a smaller home or condo to be close to the city, while others prefer a larger lot in the suburbs,” Jeffers said. 

Within the next couple of years, several condominium developments will be hitting the market at prices that had previously only been attached to sprawling estates. 

Varga Endeavors’ Southtown for-sale developments — the three of which combined will deliver more than 65 units — are set to command an average of $400,000 for 1,500 sf.

Steve Nivin, Chief Economist for the San Antonio Hispanic Chamber of Commerce and director of Saber Research Institute at St. Mary’s University, has conducted a multitude of economic impact studies, and he is just now beginning to see accelerating demand for — and values in — San Antonio’s urban core.

“Real estate prices in the downtown area and even Southtown area have escalated in the past year with all of the residential activity,” Nivin said, adding that the King William neighborhood has benefited from the most dramatic increases in home values. “From my observation, it’s to the point where you can’t be unaffluent and live in these areas.”

As more projects fill in San Antonio’s city center, a majority of industry professionals are guessing that’s where the values will climb fastest.
San Antonio Business Journal
San Antonio-New Braunfels

​Check out the interactive map at the San Antonio Business Journal.

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TAR report: Texas housing market shows strong gains in 2015TAR report: Texas housing market shows strong gains in 2015https://www.recenter.tamu.edu/news/newstalk-texas/?Item=113132015-12-01T06:00:00Z

​​AUSTIN – Texas real estate made a strong showing in all segments of the housing market in 2015 thanks to continued growth in the state’s economy, jobs, and population, according to the 2015 Texas Annual Housing Report released today by the Texas Association of Realtors.

Home sales and prices steadily increased throughout the year, while statewide housing inventory reached a two-year high — four months — in third quarter 2015.

Two of the strongest segments were luxury home sales and small land sales.

According to the 2015 Texas Luxury Home Sales Report, home sales priced at $1 million or higher grew between 9 percent and 26 percent year-over-year in the state’s four largest metros.

Small land sales also had double-digit growth, with 5,282 small land sales statewide. This was a 20.7 percent increase over last year.

Condominium and townhome sales in Texas continued to be strong, remaining fairly consistent with the previous year’s sales volume. Existing condos spent less time on the market than new condos, as rising land and development costs may make new condominiums less affordable for some buyers.

Meanwhile, remodeling projects continued to gain popularity and profitability, with smaller, functional projects that boosted a home’s curb appeal recouping the highest percentage of project costs.

Texas Association of REALTORS
https://www.texasrealestate.com/news-releases/release/all-segments-of-texas-housing-market-show-strong-gains-in-2015Read more at {Source}
New El Paso project feels the need . . . the need for speedNew El Paso project feels the need . . . the need for speedhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=113142015-12-01T06:00:00Z

​​​EL PASO – Gentlemen (and women): start your engines. El Paso Motorplex owner Lyle Byrum is building a Formula 1-style racetrack just off I-10's Clint exit.

Work began on the $1 million project about six weeks ago, and the track is expected to be open by this time next year. The facility will have 500 covered seats and a grass hill where fans can watch races.

"We will have medics and fire crews on call every day," Byrum said. "People can come out and drive their own cars, find out just how fast they can go, and they can also come out and rent a car and try it out. They can learn about performance driving from our certified instructors. The El Paso Police Department will use the course to train for high speed chases."

The track will also have a high performance driving school, a defensive driving school and will be open to bicycle racing, motorcycle racing and cart racing.

El Paso Times
El Paso
http://www.elpasotimes.com/story/news/local/el-paso/2015/11/27/1m-track-give-ep-race-fans-reasons-rev/76461342/Read more at {Source}
Harlingen's tallest building being restoredHarlingen's tallest building being restoredhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=113162015-12-01T06:00:00Z

​​HARLINGEN – One of the city's landmark buildings — and, at nine stories, also its tallest — is about to be restored to its original condition.

MRE Capital is spearheading plans to renovate the 88-year-old Baxter Building at 106 South A St.

City commissioners and members of the Harlingen Community Improvement Board (HCIB) have unanimously voted to sell the building to the Kansas City, Mo., company, on the condition it qualifies for state and federal tax credits.

As part of the agreement, MRE will pay the HCIB $250,000 for the building while investing $4.5 million to renovate it into apartments that would offer affordable housing.​
Brownsville Herald
http://www.brownsvilleherald.com/news/valley/article_59674508-97e1-11e5-ba12-f31495ebf68f.htmlRead more at {Source}
Florida investor's latest big Austin office buyFlorida investor's latest big Austin office buyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=113082015-12-01T06:00:00Z

​​​AUSTIN – Just months after buying the 690,000-sf Riata Corporate Park, Accesso Partners LLC of Florida has purchased another area office property — and this one is even larger.

The 7700 Parmer Lane multitenant development in the far northwest submarket is about 913,000 sf. Tenants include Google, Oracle, eBay/PayPal, Polycom and Dun & Bradstreet.

Williamson Central Appraisal District records have the office park valued at about $159 million in five parcels.

Spear Street Capital was the seller. EastDil Secured handled both sides of the transaction.

Austin Business Journal
Austin-Round Rock
http://www.bizjournals.com/austin/blog/real-estate/2015/11/florida-investor-plunks-down-millions-for-huge.htmlRead more at {Source}

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