Dip in El Paso unemployment, sweeter than summertime double dip of ice creamDip in El Paso unemployment, sweeter than summertime double dip of ice creamhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=132982016-05-26T05:00:00Z

​​EL PASO - El Paso County's unemployment rate dipped to 4.9 percent in April 2016 as area job growth remained strong, new data show.

The local unemployment rate was 5 percent in March 2016, and 5.3 percent in April 2015, according to the Federal Reserve Bank of Dallas​.

The local rate remained at the same level as the national rate, but continued to be above the Texas rate, which was 4.4 percent in April 2016.

El Paso County added an estimated 1,900 jobs in April, and an estimated 8,900 jobs since April 2015, for an annual gain of 3 percent, according to the Texas Workforce Commission​.

The strongest job gains for April and for the last 12 months were in the leisure and hospitality sector, which includes hotels and restaurants; the retail sector; and the health-services sector.

El Paso Times
El Paso
http://www.elpasotimes.com/story/money/business/2016/05/23/el-paso-unemployment-jobs-workforce/84790992/Read more at {Source}
Houston 2Q 2016 retail market leads the nation, Cushman & WakefieldHouston 2Q 2016 retail market leads the nation, Cushman & Wakefieldhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=133222016-05-26T05:00:00Z

​HOUSTON - Houston is leading the nation in shopping center construction, according to the Marcus & Millichap real estate firm.

In its 2Q 2016 retail research report, the firm predicted 3.3 million sf of retail space will be completed in the Houston area this year, more than any other market in the country.

Job growth is rather puny, but at least Houston’s economy is growing, instead of losing jobs.

Population growth is strong and retailers are still playing catch-up with the home construction boom that’s added a lot of rooftops in the suburbs and multifamily density near the urban core.

And the retail vacancy rate is low—around 5 percent. Inside the Loop, it’s even tighter—only 3.8 percent.

Grocers invade Houston full-speed ahead in 2016. HEB is building a revolutionary two-story grocery store in Bellaire and a 107,000-sf store in Kingwood.

The 1.8 million-sf Valley Ranch is under construction north of Kingwood and 450,000 sf Shoppes at Parkwest is being developed on the west side.

Even though the energy industry has rattled the Houston economy, home building is still fairly strong for now.

Realty News Report
Houston-The Woodlands-Sugar Land

Check out more reports under Houston's Retail Market Research.

Read more at {Source}
Millennials refuse to spread their wings and buyMillennials refuse to spread their wings and buyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=133162016-05-26T05:00:00Z

​​UNITED STATES - Many of America’s young adults appear to be in no hurry to move out of their old bedrooms.

For the first time on record, living with parents is now the most common arrangement for people ages 18 to 34, an analysis of census data by the Pew Research Center has found.

Nearly one-third of millennials live with their parents, slightly more than the proportion who live with a spouse or partner.

It’s the first time that living at home has outpaced living with a spouse for this age group since such record-keeping began in 1880.

The remaining young adults are living alone, with other relatives, in college dorms, as roommates or under other circumstances.

The sharp shift reflects a long-running decline in marriage, amplified by the economic upheavals of the Great Recession. The trend has been particularly evident among Americans who lack a college degree.

The pattern may be a contributing factor in the sluggish growth of the U.S. economy, which depends heavily on consumer spending.

With more young people living with their parents rather than on their own, fewer people need to buy appliances, furniture or cable subscriptions.

The recovery from the 2008-09 recession has also been hobbled by historically low levels of home construction and home ownership.

As recently as 2000, nearly 43 percent of young adults ages 18 to 34 were married or living with a partner. By 2014, that proportion was just 31.6 percent.

In 2000, only 23 percent of young adults were living with parents. In 2014, the figure reached 32.1 percent.

The shift may also be disrupting the housing market.

One mystery that has confounded analysts since housing began to recover in 2012 is why there aren’t more homes for sale. 

The lack of available houses has driven up prices and made it less affordable for many would-be purchasers to buy homes.

Dallas Morning News
http://bizbeatblog.dallasnews.com/2016/05/a-new-economic-indicator-millennials-living-longer-with-parents-delaying-major-purchases.html/Source: {Source}
Southwest spreading “Wings” with new building near Love FieldSouthwest spreading “Wings” with new building near Love Fieldhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=133002016-05-26T05:00:00Z

​​​​DALLAS - McCarthy Building Companies Inc. won the award to build Southwest Airlines' new office and training facility on the company's corporate campus in Dallas.

The new building, called "Wings", consists of a 414,000-sf office building and an attached 367,000-sf flight training center which will house 18 flight simulator bays, associated offices, and ancillary areas.

The training portion of the structure will be constructed out of a special hardened building that can withstand 210 mile winds as it must remain operational every day of the year in all weather conditions.

Included in the project is a 1,900 car parking garage and surface parking that together will provide for a total of 2,500 cars, as well as additional site work and construction of pedestrian bridges.

Southwest's corporate campus is adjacent to Love Field Airport.

The project architect is BOKA Powell.

The project will start in June 2016. 

​It is expected to be completed early 2018.​​

Online news
Dallas-Fort Worth-Arlington
http://www.mccarthy.com/locations/dallas/Read more at {Source}
Food trucks and all in Hall Park, oh my! Frisco rebootFood trucks and all in Hall Park, oh my! Frisco reboothttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=133122016-05-26T05:00:00Z

​​​​FRISCO - The almost 20-year-old 162-acre Hall Park at the Dallas North Tollway and Gaylord Pkwy., just north of SH 121 is being rebooted.

The development contains 16 office buildings with more than 2 million sf.

Construction is underway on The Hall Plaza project, a shopping center on Gaylord Pkwy, that will include four or five new restaurants opening in January 2017.

A food truck court and gathering area is being built in the center of the park.

The developer is expanding and renovating the office park's 10,000-sf fitness center.

And new conferencing facilities, a training center with a lounge and more meeting rooms are being added to the park.

Hall Group is upgrading jogging and walking trails around the park and adding outdoor seating areas.

The developer is building a car care center with on-site car wash, air and mobile fueling.

Remodeling is starting at two of the older office buildings at 2595 and 2591 Dallas Pkwy.

Hall Park—formerly called the Hall Office Park—the largest and oldest major office project in Frisco.​

Dallas Morning News
Dallas-Fort Worth-Arlington

​See DFW Office Market Research​ for free quarterly reports.​​​​

Read more at {Source}
One million jobs milestone in the Alamo CityOne million jobs milestone in the Alamo Cityhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=132952016-05-26T05:00:00Z

​SAN ANTONIO - The metropolitan area hit a historic point in its economic evolution last month with its total workforce count eclipsing 1 million jobs for the first time ever.

In April, the San Antonio-New Braunfels area produced 1,001,700 jobs.

That's an increase of 25,400 jobs since April 2015, representing a growth rate of 2.6 percent, according to a new report​ from Workforce Solutions Alamo.

The job count last month was strong enough that unemployment in the San Antonio metro area dropped to 3.4 percent—down from 3.7 percent in March.

The education/health care sector added 7,100 jobs since April 2015, while the leisure/hospitality industry added 3,600 new jobs over the same period.

There were some job losses in April. The financial activities sector, for example, lost 1,300 positions in April. However, that industry has seen a net gain of 600 jobs since April 2015.​

San Antonio Business Journal
San Antonio-New Braunfels

​For more information, see Workforce Solutions Alamo's reports​.

Read more at {Source}
Treasures lock up in Austin, Cedar Park self-storageTreasures lock up in Austin, Cedar Park self-storagehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=133112016-05-26T05:00:00Z

​​​​​​​​​​​AUSTIN, CEDAR PARK​​​ - ​​​Baranof Holdings has broken ground on four multi-story self-storage facilities.

Construction is expected to be complete this year.

620 Self Storage will be constructed at 11200 Ranch Rd.

The property will comprise 91,600 sf of storage space in 601 climate-controlled units. It will also offer boat and RV storage.

Walden Park Self Storage will be located at 13100 Ranch Rd. 620 in Cedar Park. The facility will encompass 101,645 sf of storage space in 709 climate-controlled units.

The facility is on the northeast corner of the SH 45 and US 183 interchange.​

Inside Self-Storage
Austin-Round Rock

​​​See Austin-Round Rock Retail Market Research reports here​.​

Read more at {Source}
Transload Forwarding to 125,000-SF lease in El PasoTransload Forwarding to 125,000-SF lease in El Pasohttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=133102016-05-25T05:00:00Z

​​​EL PASO - Transload Forwarding, a local supply chain solutions company, has signed a long-term, 124,436-sf lease at 9600 Pan American Dr.

The new location will be used to support Transload Forwarding’s logistics, custom brokerage and warehousing operation services.

Arturo De la Mora and Chad McCleskey, with CBRE’s Industrial & Logistics division in El Paso, represented the tenant in lease negotiations. ​

According to CBRE Research, the El Paso industrial market was 8.4 percent vacant at the end of 1Q 2016.​​

El Paso

​​See El Paso ​Industrial Market Research for 1Q 2016 here.

Read more at {Source}
Austin's rising rents show hot demandAustin's rising rents show hot demandhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=133192016-05-25T05:00:00Z

AUSTIN - Austin's rising rents, like overall housing prices in the region, are not slowing down.

Austin was the 20th-most expensive city in the U.S. for renters in April, according to a blog post from real estate website Zumper.com.

According to the post, one-bedroom units had a median price of $1,150 per month, while two-bedroom units came in at a median price of $1,500.

That's an 11 percent increase over the year-before period for single-bedroom units and a 9 percent increase for two-bedroom units.

View the map here. It breaks down the median one-bedroom rent in several neighborhoods. The most expensive area is downtown Austin with median rents hovering around $1,900.

Lower rents can be found near the University of Texas, where the median rent was $990.

Austin Business Journal
Austin-Round Rock

​Check out Austin Multifamily Market Research for more free reports and data!

Read more at the {Source}
HB Homes extends reach to 1,200-acre parkHB Homes extends reach to 1,200-acre parkhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=132712016-05-25T05:00:00Z

​​​SAN ANTONIO - Nearly 75 acres along the Hwy. 211 corridor near Potranco Rd. in far west Bexar County was purchased by KB Home.

The builder plans to construct 234 new homes at Texas Research Park ​(TRP).

Land development at the site is currently underway, with the community's grand opening anticipated in early 2017.

KB Home's planned Hidden Canyons at TRP neighborhood will be the first residential community in Texas Research Park, a 1,200-acre campus-like environs established more than 25 years ago to further the economic development mission of the Texas Research and Technology Foundation.

Hidden Canyons at TRP will also be KB Home's first new development in San Antonio's far Northwest since 2013.

Floor plans for Hidden Canyons at TRP will include two home design collections and are expected to range from 1,516 sf to 3,475 sf.​​​​

San Antonio Business Journal
San Antonio-New Braunfels
http://www.bizjournals.com/sanantonio/news/2016/05/17/kb-home-extends-reach-to-this-far-northwest-area.htmlRead more at the {Source}
No quarrel as Quorum International expands in Fort WorthNo quarrel as Quorum International expands in Fort Worthhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=133052016-05-25T05:00:00Z

​​FORT WORTH - Quorum International has leased 305,000 sf in an early renewal and expansion of its headquarters and distribution center in Fort Worth's Railhead Industrial Park.

Quorum has picked up 101,000 sf of extra operating room at 400 Railhead Rd., a 3.3-acre rail-served property on the city's north side.

Quorum has begun renovations on the expansion space.It is one of the oldest tenants in the 633-acre Railhead Industrial Park, which is the largest industrial center in Fort Worth with dual-rail service.​

The operations hub features 22 dock-high doors and 28-foot clear heights.

Dallas Business Journal
Dallas-Fort Worth-Arlington

​​For more information on Quorum's previous leasing transactions, click here​.​​

Also see DFW Industrial Market Reports here​.

Read more at {Source}
Record tax incentives for Allergan seen as price of progressRecord tax incentives for Allergan seen as price of progresshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=132672016-05-25T05:00:00Z

​​WACO - Allergan is up for a record amount of economic development incentives to expand its Waco plant, but local officials said they didn’t hesitate to make the offer.

Waco City Council signed off on a tax deal unprecedented in size and length for this community—worth $13 million over 20 years for the $177.6 million plant expansion.

McLennan County commissioners in June will consider a similar deal worth $8.1 million over 20 years.

For both entities, the tax grants represent about two-thirds of the new tax revenue coming from the expansion.
Waco Tribune-Herald

​See previous story Allergan coughs up $200M for 322,000-SF expansion in Waco​​.

Read more at the {Source}
Can't hold a candle to Buda's 81 percent growthCan't hold a candle to Buda's 81 percent growthhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=132702016-05-25T05:00:00Z

​​​​​​​BUDA - There is simply no city in the Austin area growing as fast as Buda.​ 

​Over the past five years, Buda has grown an astounding 81.4 percent, rising from a population of 7,556 in 2010 with the addition of 6,149 new residents.

The U.S. Census announced Georgetown to be the nation' fastest-growing city with more than 50,000 residents.

Austin Business Journal's analysis of those numbers also highlighted Leander's growth as the fastest in the region with a population of more than 25,000.

But when you include all of Austin's cities, no one can hold a candle to Buda. ​The Hays County city's population rose by 19.8 percent between 2014-2015 to 13,705 with the addition of 2,263​​ residents, according to the Census.

Austin, in contrast, grew by about 2 percent during that time and Georgetown's population spiked 8 percent.​​​​​

Listen to Podcast 302 for this story and more.​
Austin Business Journal
Austin-Round Rock
Demographics & Population

​See the interactive map! "Mapping population growth in Austin's smallest suburbs​" and ​"Unincorporated areas of Central Texas booming​​."

Read more at {Source}
Ready, set, go! Construction begins on Chase’s Plano campusReady, set, go! Construction begins on Chase’s Plano campushttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=133072016-05-25T05:00:00Z

​​PLANO - Construction has begun on JPMorgan Chase & Co.'s 50-acre campus on the south side of SH 121.

Site work has started on the 1.4 million-sf office campus, which will house almost 6,000 workers for the banking and financial services firm when it opens in 2017.

The more than $300 million project will include a handful of large office buildings and parking garages connected by landscaped areas and water features.

The first phase of Chase's project will include three office buildings and two parking garages, said KDC president Toby Grove.

With the Chase work starting, Legacy West now has more office space being built in one place than anyplace in the Southwest—more than 4 million sf.

It is next to Plano's $3 billion Legacy West development.

Dallas Morning News
Dallas-Fort Worth-Arlington

​For more ​information on the JPMorgan Chase & Co.'s campus development, click here​.​

Check out Dallas Office Market Research 1Q 2016.

Read more at {Source}
How the “West” was won; Walnut Hill West wins buyerHow the “West” was won; Walnut Hill West wins buyerhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=133062016-05-25T05:00:00Z

​​​​​DALLAS - Walnut Hill West, a 54,000-sf office property, has sold. The two-story office was built in 1971 on 2.8 acres and has been periodically updated between 2001 and 2015.

Walnut Hill West is located at 2639 Walnut Hill Lane near Shady Trail and Harry Hines Blvd.

At the time of listing, Walnut Hill West was 75 percent leased.

Texas Real Estate Business
Dallas-Fort Worth-Arlington

​See DFW Office Market Research​ for quarterly reports.

Read more at {Source}
San Antonio flood control to recreationSan Antonio flood control to recreationhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=132682016-05-25T05:00:00Z

​SAN ANTONIO - The Old Spanish Walking Trail and Flood Control Basin in the 3600 block of Fredericksburg Rd. will provide recreational facilities when not deployed as a regional stormwater retention facility during major storms.

Built on the former site of a flea market on the Northwest Side, the $28 million project that was funded by Bexar County will be operated as a 26-acre city park.

There are soccer fields in the sunken area.

A half-mile walking trail and parking lots are located at street level.​

San Antonio-New Braunfels
Public Facilities
http://www.mysanantonio.com/news/local/article/Basin-park-to-provide-duel-benefit-with-flood-7919985.phpRead more at {Source}
Victoria home sales, active listings April 2016 Swearingen ReportVictoria home sales, active listings April 2016 Swearingen Reporthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=132922016-05-25T05:00:00Z

​VICTORIA - The Swearingen Report for residential homes has been released for the 12 months ending April 2016 by Coldwell Banker The Ron Brown Company.

Economic indicators for the area are surprisingly steady considering the challenges of the oil and gas industry.

Inventories are up, the number of units sold is up, but average price and median price are down.

Looking at the numbers, we see that 91.5 percent (245) of homes sold were below $300,000 while only 8.5 percent were above.

​​Swearingen finds that Victoria is finally increasing inventory of more affordable homes.

Total building permits for Victoria city limits for the 12 months ending April 2016 were 118, down 26.7 percent compared to the same period 2015 when the number of permits was 161.

Coldwell Banker The Ron Brown Company
http://www.ronbrown.com/victoria-market-reportsRead more at {Source}
Introducing newest Dallas' “Uptown Girl,” Cushman & Wakefield sign leaseIntroducing newest Dallas' “Uptown Girl,” Cushman & Wakefield sign leasehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=133082016-05-25T05:00:00Z

DALLAS - A lease totaling 40,863 sf on two floors within McKinney & Olive has been signed by real estate brokerage firm Cushman & Wakefield.

The 20-story tower is expected to open summer 2016.

With the Cushman & Wakefield lease, McKinney & Olive is 88 percent leased three months before the tower is expected to open.

The leasing velocity shows the demand for high-quality buildings with great design, said John Zogg, Crescent's managing director overseeing the leasing of McKinney & Olive.

The 20-story, 530,000-sf office tower is the first building in Dallas designed by Cesar Pelli's award-winning firm, Pelli Clarke Pelli Architects.

Dallas Business Journal
Dallas-Fort Worth-Arlington

​See DFW Office Market Research for quarterly reports.

Read more at {Source}
Grand Parkway fuels home sales surge in CypressGrand Parkway fuels home sales surge in Cypresshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=132882016-05-24T05:00:00Z

​CYPRESS - Builders are monitoring costs and buyers are looking for deals on new homes as Houston's economy continues to sputter amid low oil prices and increasing layoffs.

Despite the slump, officials from Bridgeland recently said sales in the master-planned community are up 64 percent this year.

In April alone, builders sold 51 homes, a near-record month for the ten-year-old community in Cypress.

The reason for the uptick?

Bridgeland vice president Peter Houghton said it's the newly opened Grand Parkway, a public school campus opening next year and recently completed amenities like pools and parks.

The community is experiencing a bit of a comeback.

Several years ago, activity there stalled, and some builders pulled out before the developer received a wetlands permit from the U.S. Army Corps of Engineers in 2014, allowing it to move forward on putting lots on an additional 800 acres.

Construction on the development started in 2006. Some 2,800 homes have been built, and 2,700 are occupied. About 19,000 are planned altogether. Single-family homes start at $230,000 and reach $1 million.

But not all is rosy.

Higher-end homes aren't selling as fast as they did during the boom, and land sales are softer as well.

During the first three months of the year, Bridgeland sold slightly less land to builders and at a lower price than it did in the same period in 2015, the company said in a recent financial filing.

The lower prices were a result of the lot mix sold during that time.

There was a larger percentage of smaller, lower-priced lots sold than last year.

Bridgeland has the same developer as The Woodlands. It will have some similar attributes, including a town center designed to house shopping centers, hotels and office towers.

Houston Chronicle
Houston-The Woodlands-Sugar Land
http://www.houstonchronicle.com/business/columnists/sarnoff/article/Bridgeland-sees-uptick-amid-slump-7708065.phpRead more at the {Source}
Houston's exclusive Briar Club nearing end of posh $33M renovation Houston's exclusive Briar Club nearing end of posh $33M renovation https://www.recenter.tamu.edu/news/newstalk-texas/?Item=132812016-05-24T05:00:00Z

​​HOUSTON - Founded as a gambling club in the 1940s, the Briar Club (originally known as the Coral Club) sits on 5.5 acres among some of the priciest real estate in Houston.

The private club, which has grown to a high-end dining, fitness and tennis facility, is nearing the end of a $33 million renovation that includes a three-story clubhouse, resort-style swimming pool and new tennis courts.

Other amenities include heated and chilled lap pools, a ballroom able to seat 375 guests, nine tennis courts and a youth program.

Located at 2603 Timmons Lane at Westheimer, the Briar Club is nestled between River Oaks, Highland Village and Greenway Plaza.

To join, members pay a $35,000 initiation fee and monthly dues in the $400s.

Houston Chronicle
Houston-The Woodlands-Sugar Land
http://www.chron.com/business/real-estate/article/Briar-Club-soon-to-unveil-33-million-makeover-7940014.phpSource: {Source}

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