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Texas jobless claims hit post-pandemic lowTexas jobless claims hit post-pandemic lowhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=249152020-09-18T05:00:00Z2020-09-18T21:00:00Z

​​​​​​COLLEGE STATION – ​Initial unemployment insurance claims in Texas decreased to over 51,600 the week ending Sept. 12 after increasing the previous two week​​s​​.

This brings the total number of initial claims to 3.48 million, according to data from the U.​S. Department of Labor (DOL).​

Last week's jobless claim count is the lowest weekly number since the pandemic hit the economy. 

Continuing unemployment claims also decreased, falling to 988,500 the week ending Sept. 5. 

"Even though absolute numbers for both weekly initial and continuing claims remain high, the fall in both unemployment numbers allude to some improvements in labor conditions​," ​said Real Estate Center Research Economist Dr. Luis Torres. 

More people in Texas' major metropolitan statistical areas (MSAs) filed for initial unemployment during the week ending Sept. 5, but the border metros saw fewer new claims. 

"Initial claims were expected to increase due to the increase in the statewide numbers during the week of Sept. 5, but only increased in the four major MSAs, not in the border ones." Torres said. ​​​"The Texas Triangle MSAs represented around 56.3 percent of the state's increase in claims during that week."

However, Torres expects a decrease in new claims​​ for both major and border MSAs the week ending Sept. 12 to match the state's decrease.

Using data from the DOL and the Employment and Training Administration, the Center estimates that from March 21 to Sept. 5 ​over 794,300 seasonally adjusted claims were filed in Houston-The Woodlands-Sugar Land. The metro continues to lead the state in total number of claims.

In the past 25 weeks, an estimated 754,900 claims were filed in Dallas-Fort Worth-Arlington, 240,700 in San Antonio-New Braunfels, and 205,300 in Austin-Round Rock. ​

Along the border, an estimated 92,900 claims were filed in McAllen, 79,000 in El Paso, 41,000 in Brownsville, and 24,500 in Laredo.

The total number of jobless claims in all metros remains around three times greater than the historical average before the pandemic hit the economy.

Retail trade, administrative​/support/waste management/remediation services, healthcare/social assistance​​, and accommodation and food services had the biggest unemployment claims through the week ending Sept. 5.​

​​Almost 61 million Americans have filed initial unemployment claims in the past 26 weeks. New claims decreased last week to 859,600​.

Texas logoThe Real Estate Center has a wealth of economic information online for free.
​Source: Real Estate Center​
Real Estate Center
Texas
Employment
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Retailer leases warehouse space in Urban District 30Retailer leases warehouse space in Urban District 30https://www.recenter.tamu.edu/news/newstalk-texas/?Item=249142020-09-17T05:00:00Z2020-09-18T19:00:00Z

​​​​​​​MESQUITE – ​E-commerce retailer 1000Bulbs.com has leased 203,040 sf of warehouse space in Urban District 30.

Stream Realty​ Partners represented both the tenant and the landlord, Dallas-based Urban Logistics Realty. ​​

Urban District 30 is at the northeast intersection of I-30 and I-635. 

At ​​buildout, the Class A ​​business park will ​​consist of five buildings totaling 977,000 sf. Delivery is set for fourth quarter 2020.

Texas logoThe Real Estate Center has more on DFW's industrial market:

Source: Realty News Report
Realty News Report
Dallas-Fort Worth-Arlington
Industrial
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State unemployment rate falls for fourth straight monthState unemployment rate falls for fourth straight monthhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=249202020-09-18T05:00:00Z2020-09-18T15:00:00Z

​​AUSTIN – The Texas economy added 106,800 nonfarm jobs in August, pushing the unemployment rate down to 6.8 percent , reports the Texas Workforce Commission. 

This is the fourth consecutive monthly decrease and the lowest rate since Texas' economy was initially impacted by the COVID-19 pandemic in March. 

"In a span of four months, the Texas economy has recovered 615,000 of the 1.4 million jobs lost between March and April," said Real Estate Center Research Economist Dr. Luis Torres. "There is still a long road ahead to recuperate around 800,000 jobs.​"

The national unemployment rate is 8.5 percent, also down from July. 

Amarillo had the lowest nonseasonally adjusted unemployment rate in the state at 4.2 percent. Odessa had the highest at 11.1 percent. 

All employment sectors had seasonally adjusted job losses since August 2019 except for the financial activities industry, which saw a slight increase of 0.4 percent. Mining and logging had the largest job loss with employment falling 24.6 percent.​

Texas logoThe Real Estate Center has a wealth of economic information online for free.

Texas Workforce Commission
Texas
Employment
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154-unit Spanish Keys Apartments trades hands154-unit Spanish Keys Apartments trades handshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=249162020-09-18T05:00:00Z2020-09-18T14:00:00Z

​​SAN ANTONIO – Spanish Keys Apartments, a 154-unit multifamily complex at 1150 Babcock Rd., has been ​sold. 

Built in 1965, the property has studio and one- and two-bedroom units. Rents range from $637 to $925 per month. 

Amenities include a pool, business center, and laundry facilities. 

The Multifamily Group arranged the sale. ​

Texas logoThe Real Estate Center​​​​ has more information like this online for free:

​Source: REBusiness Online

REBUSINESS
San Antonio-New Braunfels
Multifamily
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280-unit affordable apartments slated for Manor280-unit affordable apartments slated for Manorhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=249172020-09-18T05:00:00Z2020-09-18T14:00:00Z

​​​​MANOR – The Strategic Housing Finance Corporation and ICON Builders are developing Austin Manor Apartments, a 280-unit affordable housing​ development at 6625 E. Parmer Ln. 

All of the units will be reserved for renters earning 60 percent or less of the area median income. 

Amenities will include a pool, clubhouse, playground, and sports courts. 

Bellwether Enterprise Real Estate Capital provided a $42.6 million Freddie Mac permanent loan for the project. 

texaslogo.pngThe Real Estate Center has more news like this online for free:
REBUSINESS
Austin-Round Rock
Multifamily
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$52M mixed-use development coming to San Antonio$52M mixed-use development coming to San Antoniohttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=249182020-09-18T05:00:00Z2020-09-18T14:00:00Z

​​SAN ANTONIO – The San Antonio Housing Authority and Franklin Development are developing 100 Labor, a mixed-use development on Cesar E. Chavez Blvd. and Labor St. 

The project will have 213 residential units, two swimming pools, and an outdoor plaza space. 

Construction begins in the next couple of months. 

Alamo Architects designed the project. ​​​

Texas logoThe Real Estate Center has more news like this:

San Antonio Business Journal
San Antonio-New Braunfels
Mixed-Use
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Government-leased Corpus Christi facility soldGovernment-leased Corpus Christi facility soldhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=249192020-09-18T05:00:00Z2020-09-18T14:00:00Z

​​​​​CORPUS CHRISTI – Government Investment Partners​ has sold t​he State of Texas Department of Family and Protective Services ​​office​​​​ at 4102 Greenwood Dr. ​​​

Built on 4.27 acres in 1995​​, the 51,307-sf facility ​​was renovated in 2010.

Colliers International brokered the deal.

Texas logoThe Real Estate Center has more Corpus Christi news online for free:

Source: Connect Media
Connect Media
Corpus Christi
Office
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U.S. homebuilder confidence hits all-time highU.S. homebuilder confidence hits all-time highhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=249112020-09-17T05:00:00Z2020-09-17T19:00:00Z

​​WASHINGTON – Builder confidence for newly built single-family homes increased five points to hit an all-time high of 83 in September, according to the latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI).

This is a strong signal that housing is leading the post-COVID-19 economic recovery.​

The previous highest reading in the 35-year history of the series was 78. It was set in December 1998 and matched last month.

"Historic traffic numbers have builders seeing positive market conditions, but many in the industry are worried about rising costs and delays for building materials, especially lumber," said NAHB Chairman Chuck Fowke. "More domestic lumber production or tariff relief is needed to avoid a slowdown in the market in the coming months."

​All the HMI indexes posted their highest readings ever in September. The index gauging current sales conditions rose four points to 88, the component measuring sales expectations in the next six months increased six points to 84, and the measure charting traffic of prospective buyers posted a nine-point gain to 73.

The HMI in the South—the region that includes Texas—rose eight points to 79.

Texas logoThe Real Estate Center has a wealth of economic information online for free.

National Association of Home Builders
U.S.
Housing
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MOB coming to Generation ParkMOB coming to Generation Parkhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=249122020-09-17T05:00:00Z2020-09-17T19:00:00Z

​​​​HOUSTON – ​McCord Developing is adding a 101,000-sf medical office building within Redemption​​ Square.

The Class ​A projec​t will be at 100 N. Redemption Square Rd. It is now available for preleasing. 

Redemption Square is a mixed-use lifestyle district within McCord's 4,000-acre Generation Park master-planned community. ​​

Texas logoThe Real Estate Center has more Houston-area medical news​ on our website for free. 

​​Source: Connect Media

Connect Media
Houston-The Woodlands-Sugar Land
Medical
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California buyer acquires Dallas land for industrial projectCalifornia buyer acquires Dallas land for industrial projecthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=249132020-09-17T05:00:00Z2020-09-17T19:00:00Z

​​​​​DALLAS – ​California-based CT Realty has purchased 18.4 acres in the South​ Stemmons​​ submarket for the development of a $40 million industrial project.

Called Stadium Logistics Center, the 329,402-sf project ​​​is along​​ US 183 just west of I-35. It will have 36-ft clear heights and a front-park/rear-load configuration. 

Avison represented the seller, NCH Corp., in the land deal. JLL represented CT Realty and will market the project for lease. ​

Pross Design Group is the architect and Talley Riggins Construction Group is the general contractor. ​​​California Bank & Trust provided construction financing.

Work starts this month. The project will deliver in September 2021.

Texas logoThe Real Estate Center has more on DFW's industrial market:

Source: REBusiness Online
REBUSINESS
Dallas-Fort Worth-Arlington
Industrial
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Ag, workforce education complex opens at RELLISAg, workforce education complex opens at RELLIShttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=249082020-09-17T05:00:00Z2020-09-17T18:00:00Z

​​​BRYAN – The Blinn College District and the​ Texas A&M University​​ System​​​ has opened the $15 million Agriculture and Workforce Education Complex. 

The 38,000-sf complex includes a 16,000-sf classroom building​​ and two 11,000-sf trades pavilions as well​​ as faculty offices.

It is the new home of Blinn's workforce training​ offering, which includes public and electrical trades; advanced manufacturing; welding; carpentry; and heating, ventilation, and air conditioning. 

Texas A&M's agricultural science program will also be in the facility.

The complex is within the RELLIS Campus at the intersection of SH 21 and SH 47.​​​​​

Texas logoGet more College Station-Bryan real estate news online.​

​Source: The E​agle​
The Eagle
College Station-Bryan
Education
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141K-sf Amazon logistics center slated for Northwest SA141K-sf Amazon logistics center slated for Northwest SAhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=249092020-09-17T05:00:00Z2020-09-17T18:00:00Z

​​​​SAN ANTONIO – Trammell Crow Co. is developing a $19.75 million, 141,360-sf ​warehouse building at 4886 N. Loop 1604.​​

The developer is also building an​ Amazon delivery facility​ on the South Side. 

Texas logoThe Real Estate Center has more on San Antonio's office market:

San Antonio Business Journal
San Antonio-New Braunfels
Industrial
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Borei Olam picks up 268-unit apartment complexBorei Olam picks up 268-unit apartment complexhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=249102020-09-17T05:00:00Z2020-09-17T18:00:00Z

NEW BRAUNFELS – Borei Olam Management has purchased Springs at Creekside, a 268-unit apartment community at 2980 Creek Bend Dr. ​

Built in 2015, the property has studio and one-, two, and three-bedroom units. Rents range from $958 to $1,944 per month. 

Amenities include a pool, clubhouse, and fitness center. 

Rosewood Realty Group represented both the buyer and the seller, Continental Properties.​

Texas logoThe Real Estate Center​​​​ has more information like this online for free:

​Source: REBusiness Online

REBUSINESS
San Antonio-New Braunfels
Multifamily
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JV developing Parkside on Legacy phase threeJV developing Parkside on Legacy phase threehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=249062020-09-16T05:00:00Z2020-09-16T19:00:00Z

​​​​​​PLANO – ​​Locally based KD has partnered with JBP Properties to develop the third phase of Parkside on Legacy. ​​​​

The 16-acre phase will offer office space from 200,000 to 500,000 sf. 

Myers Commercial will market the buildings​​​​​​ for lease.​​​​​​

Texas logoThe Real Estate Center has more on DFW real estate news:

REBUSINESS
Dallas-Fort Worth-Arlington
Office
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Collin College Technical Campus completeCollin College Technical Campus completehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=249072020-09-16T05:00:00Z2020-09-16T19:00:00Z

​​ALLEN – McCarthy Building Cos. has completed the Collin College Technical Campus, a 340,000-sf civic project.

The four-building complex w​ill serve more than 7,000​ students. It includes 192,000 sf of technical and trade classrooms with open lab spaces​ and 42,000 sf of shared classroom space for the Allen Independent School District​​.

It also includes campus support areas and mechanical, electrical, plumbing, welding, auto, and carpentry shops. 

Texas logoThe Real Estate Center​​​​ has more Dallas-area education news​ online for free. 

​​Source: REBusiness Online​

REBUSINESS
Dallas-Fort Worth-Arlington
Education
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Shippy Properties picks up two apartment complexes Shippy Properties picks up two apartment complexes https://www.recenter.tamu.edu/news/newstalk-texas/?Item=249012020-09-16T05:00:00Z2020-09-16T18:00:00Z

​​​​SAN ANTONIO – Locally based Shippy Properties has purchased a two-property multifamily portfolio from The Radco Companies. 

City Crest at 4900 USA​A Blvd. has 200 one- and two-bedroom units. Monthly rents range from $765 to $1,070. 

City Summit at 4041 Medical Dr. has 269 one- to three-bedroom floor plans. Rents range from $845 to $1,465 per month. 

Berkadia brokered the sale. 

Texas logoThe Real Estate Center​​​​ has more information like this online for free:

​Source: Connect Media

Connect Media
San Antonio-New Braunfels
Multifamily
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Dick’s Sporting Goods scores new store at San Pedro Crossing Dick’s Sporting Goods scores new store at San Pedro Crossing https://www.recenter.tamu.edu/news/newstalk-texas/?Item=249022020-09-16T05:00:00Z2020-09-16T18:00:00Z

​​SAN ANTONIO – Dick’s Sporting Goods has opened a new store at San Pedro Crossing, a retail center at the junction of N.W. Loop 410 and San Pedro Ave. 

The 60,000-sf store is the retailer’s fifth in the area. 

Texas logoGet more San Antonio-area retail news on the Real Estate Center's website:

​​Source: REBusiness Online

REBUSINESS
San Antonio-New Braunfels
Retail
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Tight supply pushes up SA home pricesTight supply pushes up SA home priceshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=249032020-09-16T05:00:00Z2020-09-16T18:00:00Z

​​​SAN ANTONIO – The local housing market continued its hot streak in August as prices rose and supply shrank, according to the San Antonio Board of Realtors.  

Area buyers closed on 3,693 homes last month, a 7 percent increase from the year prior. 

The median price jumped 9.4 percent year over year to $259,000. 

Listings fell 30 percent. Inventory also fell to a mere 2.4 months. The Real Estate Center considers six to 6.5 months of inventory a balanced market.

Although home sales plunged in April and May, pent-up demand, loosened restrictions, and low interest rates caused activity to pick up again in June.

texaslogo.pngThe Real Estate Center has more information on housing:​
San Antonio Express-News
San Antonio-New Braunfels
Housing
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Allied Orion breaks ground on The SouthbrookAllied Orion breaks ground on The Southbrookhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=249042020-09-16T05:00:00Z2020-09-16T18:00:00Z

​​LEANDER – Allied Orion Group has broken ground on The Southbrook, a 3​60-unit garden-style apartment home community at 260 S. Brook Dr. 

The property will have one- to three-bedroom units. 

Amenities will include a pool, fitness center, cyber lounge, resident lounge, and dog park. 

The community opens in the fall. ​

texaslogo.pngThe Real Estate Center has more news like this online for free:
Connect Media
Austin-Round Rock
Multifamily
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Townhome, condo project underway in Oak CliffTownhome, condo project underway in Oak Cliffhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=249052020-09-16T05:00:00Z2020-09-16T18:00:00Z

​DALLAS – ​​GroundFloor Development is working on Kessler West, a four-phase residential community on W. Davis St. at N. Oak Cliff Blvd.

The project will have two- and three-story townhouses and a 28-unit luxury mid-rise residential building.

The townhomes will range from 2,960 to 3,103 sf. Prices will start at $880,000.

The first phase will include 20 townhomes, which ​will deliver early next year.​​

Construction on the mid-rise building starts in 2022. Units​​ will range from 1,825 to 2,850 sf. 

Al Coker & Associates will handle marketing and sales. 

Financing is being provided by Bank ​OZK, Civi​tas Capital's Grow South Fund, and Liont LLC. 

Texas logoGet more DFW-area news on the Real Estate Center's website:

          ​​​​Source: Dallas Morning News

          Dallas Morning News
          Dallas-Fort Worth-Arlington
          Housing
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