Keener picks up Clear Lake apartmentsKeener picks up Clear Lake apartmentshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=219572019-02-15T06:00:00Z2019-02-16T02:00:00Z

​​​CLEAR LAKE — Houston-based Keener Investments has acquired the 150-unit Terrace Villas at 17700 El Camino Real.

The property sits on 6.2 acres near the NASA-Johnson Space Center and Medical Center of the South.

It was purchased from Moneil Premier Properties LLC as a value-add play.

Keener is planning to upgrade unit interiors, amenities, and the exterior. 

Terrace Villas offers a mix of one, two, and three-bedroom units averaging 831 sf. 

Keener Construction will oversee the rehab, and Keener Management will handle leasing and management.​
Connect Media
Houston-The Woodlands-Sugar Land

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Work starts on 210K-sf Park Place TowerWork starts on 210K-sf Park Place Towerhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=219592019-02-15T06:00:00Z2019-02-16T01:00:00Z

​​​HOUSTON – Stonelake Capital Partners has broken ground on its 15-story office building inside the loop near the River Oaks District.

The 210,000-sf Park Place Tower will be at 4200 Westheimer Rd. within the Park Place River Oaks development. The office building is Stonelake’s third phase at Park Place.

It will have first-floor retail and a landscaped terrace on the ninth floor. The building will be surrounded by a one-acre park.

Park Place Tower will be available for occupancy in spring 2020 and is currently in negotiations with three tenants.

Dallas-based Beck Architecture designed the project. Harvey Builders is the general contractor. 
Houston Business Journal
Houston-The Woodlands-Sugar Land

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Energy Corridor office trades hands for $5.1MEnergy Corridor office trades hands for $5.1Mhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=219542019-02-15T06:00:00Z2019-02-16T01:00:00Z

​​​​Image of 11211 Katy Fwy.HOUSTON – Hartman Income REIT has purchased a nearly 78,000-sf office building in Energy Corridor. 

The six-story asset on 2.6 acres at 11211 Katy Fwy. was completed in 1976 and underwent cosmetic improvements in 2013.

It​ features 2,000 sf of retail space and is 68 percent leased to tenants such as Farmers Insurance, Texas Health School, Jones Engineering Solutions, Genesis Merchant Solutions, and DexaFit.

San Antonio-based Cotter & Sons sold the asset for $5.1 million, according to Yardi Matrix data.
Commercial Property Executive
Houston-The Woodlands-Sugar Land

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Welcome home: 525k residents moved to Texas in 2017Welcome home: 525k residents moved to Texas in 2017https://www.recenter.tamu.edu/news/newstalk-texas/?Item=219582019-02-14T06:00:00Z2019-02-16T00:50:00Z

​​​AUSTIN – The Lone Star State ranked second in the nation for relocation activity in 2017, according to the 20​19 Texas Relocation Report by Texas Realtors (formerly the Texas Association​​ of Re​alt​ors).

The state welcomed 524,511 new residents in 2017, fewer than the 531,966 out-of-state residents who moved to Texas in 2016. 

The net gain of out-of-state residents in Texas in 2017 fell from 87,656 in 2016 to 57,173 residents in 2017.

Residents moving to Texas from outside of the United States made up nearly half of the total inflow of residents. 

Among U.S. states, the highest number of new Texans relocated from California (63,175), Florida (33,740), Louisiana (28,700), Illinois (26,214),​​​​ and New York (20,644).

Texas ranked third in the United States for the number of residents moving out of state (467,338) in 2017. 

The most popular out-of-state relocation destinations for Texans were California (40,999), Oklahoma (32,430), Florida (31,625), Colorado (25,212), and Louisiana (17,674).

At the metro level, Los Angeles-Long Beach-Anaheim, New York-Newark-Jersey City, and Chicago-Naperville-Elgin produced the highest volume of residents relocating to Texas. Dallas-Fort Worth-Arlington had the highest number of incoming residents from out of state (230,118), followed by Houston-The Woodlands-Sugar Land (203,279).

​​​The report used data from U-Haul and the U.S. Census Bureau's 2017 American Community Survey five-year estimates.​​

2019 Texas Relocation Report

Demographics & Population
https://www.texasrealestate.com/about-us/newsroom/news-releases/texas-ranks-second-in-the-u-s-for-relocation-activity-in-2017/Source: {Source}
'80s apartments sell to investors'80s apartments sell to investorshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=219562019-02-15T06:00:00Z2019-02-16T00:20:00Z

​​​​​A picture of Smith Creek apartments.DALLAS – Multifamily Property Group purchased the 192-unit, Class B Smith Creek apartments.

The 185,440-sf community is at 4791 W. Ledbetter Dr. and is accessible from both Loop 12 and I-35.

The complex was built in 1983 and includes two swimming pools and a clubhouse with resident lounge.

Smith Creek was 93 percent occupied at the time of sale, which was facilitated by CBRE.
Dallas-Fort Worth-Arlington

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Mortgage delinquencies fall amid stable foreclosure ratesMortgage delinquencies fall amid stable foreclosure rateshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=219612019-02-15T06:00:00Z2019-02-16T00:15:00Z

​​​​​Comparisons for Texas' top four metros between Nov. 2017 and Nov. 2018 for delinquency rates and foreclosure ratesIRVINE, Calif. – CoreLogic’s Loan P​erformance Insights ​​Report shows that, nationally, 4.1 percent of mortgages were in some stage of delinquency in November 2018, representing a 1.1 percent-point decline year over year. 

Additionally, the foreclosure inventory rate stood at 0.4 percent, which was down 0.2 percent from November 2017 and was the lowest for any month since January 2000.

Delinquency in the Texas metros also declined year over year, with foreclosure rates remaining steady.

Texas' largest rate drop in 30-days-or-more delinquenc​y was in Houston, where it fell to 5.2 percent in November from 10.4 percent.

In Austin, the delinquency rate was 2.6 percent, the lowest of Texas' major metros and down from 3 percent.

Delinquency rates in Dallas and San Antonio were also down in November. DFW's rate fell to 4 percent from 4.6 percent while San Antonio's was down from 6.5 percent to 5.7 percent​​. 

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Cardone Capital secures 351-unit Class A property Cardone Capital secures 351-unit Class A property https://www.recenter.tamu.edu/news/newstalk-texas/?Item=219532019-02-15T06:00:00Z2019-02-16T00:00:00Z

​​​​​​​Image of Stella at Riverstone.SUGAR LAND – Miami-based Cardone Capital has acquired the Stella at Riverstone, a 351-unit garden-style apartment community at 4711 LJ Pkwy. 

The Class A asset's amenities include a business center, clubhouse, athletic center, and​ swimming pool with tanning shelves and water features.

This is Cardone’s first acquisition of 2019.
Houston-The Woodlands-Sugar Land

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Big Alliance industrial project will have room to growBig Alliance industrial project will have room to growhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=219622019-02-15T06:00:00Z2019-02-16T00:00:00Z

​​​A rendering of the project.FORT WORTH – ​Developer Hillwood announced another round of warehouse construction would begin in March totaling 1.5 million sf of industrial space in the AllianceTexas development.

Alliance ​Westp​ort 11, located off the SH 156 frontage road, is designed to become one of the biggest modern distribution centers in the United States. It will offer one million sf of usable space with the ability to expand to more than two million sf. 

In the Northlake portion of Alliance at I-35W and SH 114, Hillwood will build two smaller warehouses totaling 500,000 sf.
Fort Worth Star-Telegram
Dallas-Fort Worth-Arlington

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Hines inks 154K sf over two leasesHines inks 154K sf over two leaseshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=219552019-02-15T06:00:00Z2019-02-15T23:00:00Z

​​​​​Image of 717 Texas.HOUSTON – ​Hines has inked two office leases totaling 154,000 sf at the 717 Texas building. 

Calpine, a building anchor since 2003, extended its 126,000-sf lease, while law firm Smyser Kaplan & Veselka LLP signed a new 28,000-sf lease.

Hines is completing a renovation on the 15-year-old building, which include a new lobby, elevator finishes, lighting, and security console upgrades. 

New food and beverage concepts will also be offered. The ground-floor upgrades are scheduled to be completed by April 2019.

CBRE represented energy company Calpine in lease negotiations, while Cushman & Wakefield negotiated on behalf of the law firm.
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Houston-The Woodlands-Sugar Land

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Transwestern to start on 834K-sf distribution center Transwestern to start on 834K-sf distribution center https://www.recenter.tamu.edu/news/newstalk-texas/?Item=219452019-02-14T06:00:00Z2019-02-15T02:30:00Z

​​​Site of the development.​HOUSTON – Transwestern Development Co. plans to break ground on the Sam Houston Distribution Center, an 833,720-sf industrial project off Fairbanks N. Houston Rd. between Fallbrook Dr. and Taub Rd.

The 60-acre site will have three buildings and additional land for added trailer storage or a build-to-suit opportunity. 

The buildings in the first phase consists of:

  • ​a 200,200-sf front-load building with a 32-ft clear height; 

  • a 494,800-sf, cross-dock facility with a 36-ft clear height; and 

  • a 138,720-sf, front-load facility with a 32-ft clear height.

Completion is planned for 2020, positioning the park to benefit from the $1.8 billion expansion of US 290 that is expected to be completed in late 2019.

Transwestern acquired the land and will develop the project with institutional investors advised by J.P. Morgan Asset Management.

Houston Chronicle
Houston-The Woodlands-Sugar Land

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Indus Management Group acquires 164-unit Vanderbilt CourtIndus Management Group acquires 164-unit Vanderbilt Courthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=219512019-02-14T06:00:00Z2019-02-15T02:00:00Z

​​​Image of Vanderbilt Court.​HOUSTON – Locally based Indus Management Group has acquired Vanderbilt Court, a 164-unit garden-style apartment complex from 37th Parallel.

The Class B asset on five acres at 12630 Ashford Point Dr. recently underwent $1.2 million in renovations.

Built in 1983, it offers studio units and one- and two-bedroom townhomes averaging 835 sf.

HFF represented the seller​ and procured the buyer. ​​

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Houston-The Woodlands-Sugar Land

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TAR rebrands as 'Texas Realtors'TAR rebrands as 'Texas Realtors'https://www.recenter.tamu.edu/news/newstalk-texas/?Item=219602019-02-14T06:00:00Z2019-02-15T01:35:00Z

​​​​The new Texas Realtors logo.AUSTIN – As of December 2018, the Texas Association of Realtors has rebranded itself as the Texas Realtors.

The last time the association made changes to branding was 1996.
https://www.texasrealestate.com/members/communications/texas-realtor-magazine/issues/december-2018/updated-branding-brings-new-name-new-logo/Check {Source} for more information
Palo Alto firm pays the Bill for 25K-sf office Palo Alto firm pays the Bill for 25K-sf office https://www.recenter.tamu.edu/news/newstalk-texas/?Item=219482019-02-14T06:00:00Z2019-02-15T01:30:00Z

​​​​​HOUSTON – Palo Alto, Calif.-based Bill.com Inc. will take 25,000 sf at the CityWest development near the intersection of Beltway 8 and Westheimer Rd. in Westchase.

The company plans to hire 125 local employees ​over the next three years. 

Bill.com is still in the process of selecting an architect and a developer to build out its office space.
Houston Business Journal
Houston-The Woodlands-Sugar Land

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San Antonio median home price under $200KSan Antonio median home price under $200Khttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=219422019-02-13T06:00:00Z2019-02-15T01:00:00Z

​​​​SAN ANTONIO – January 2019​ housing statistics have been released by the San Antonio Board of Realtors (SABOR) through Clarus MarketMetrics.SABOR home statistics for January 2019.

Prudential Ada, Realtors
San Antonio-New Braunfels
http://sweethomeamarillo.housingtrendsenewsletter.com/ShowLocalMarkets.cfm?MYURL=75Source: {Source}
Allen apartment complex to include medical officesAllen apartment complex to include medical officeshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=219522019-02-14T06:00:00Z2019-02-15T00:45:00Z

An image of Dolce Living Twin Creeks in Allen.ALLEN – Sovereign Properties is developing the $73 million Sovereign at Twin Creeks apartment community at 729 Junction Dr. 

The 366-unit development will include a resident club house, fitness center, business lounge, and resort-style pool. 

The project will also feature a 15,000-sf Class A medical office building adjacent to the community. 

Delivery is expected for late summer 2020.​​

The community is next to Sovereign ​Properties' Dolce Living Twin Creeks apartment community that opened in 2016. ​
Business Wire
Dallas-Fort Worth-Arlington

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Cold storage industrial project underway in south DallasCold storage industrial project underway in south Dallashttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=219492019-02-14T06:00:00Z2019-02-15T00:40:00Z

​​​​​​​A rendering of the project.DALLAS – New Jersey-based Preferred Freezer Services is building a 267,000-sf cold​​ storage facility at 7750 Dynasty Dr. near Hutchins south of I-20.

This will be the company’s first facility in North Texas when it opens in late summer 2019.

The storage facility has 62-ft ceilings—double the industry standard—and 15 million cubic feet of space.

Construction costs are estimated​ to be in the $65 million to $70 million range.
Dallas Business Journal
Dallas-Fort Worth-Arlington

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Democracy offices sold to Big Apple investorsDemocracy offices sold to Big Apple investorshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=219502019-02-14T06:00:00Z2019-02-15T00:10:00Z

​​​A picture of Parkwood Place.PLANO – New York-based Admiral Capital Group has​ bought the 98,750-sf Parkwood Place offices on Democracy Dr. east of the Dallas North Tollway.

The two-story office complex was sold by California investor KBS, which has owned the building since 2007.

CBRE brokered the sale.
Dallas Morning News
Dallas-Fort Worth-Arlington

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ABOR: 1,355 home sales in JanuaryABOR: 1,355 home sales in Januaryhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=219412019-02-13T06:00:00Z2019-02-15T00:00:00Z

​​​​​​​​​​​AUSTIN – January 2019 housing statistics have been released through Clarus MarketMetrics by the Austin Board of Realtors (ABOR).​ABOR housing statistics for January 2019.

Prudential Ada, Realtors
Austin-Round Rock
http://sweethomeamarillo.housingtrendsenewsletter.com/ShowLocalMarkets.cfm?MYURL=45Source: {Source}
NTREIS: Home prices rise slowly, sales drop a seventhNTREIS: Home prices rise slowly, sales drop a seventhhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=219382019-02-13T06:00:00Z2019-02-14T01:00:00Z

​​​NORTH TEXAS – Housing statistics for January 2019 have been released by the North Texas Real Estate Information System (NTREIS) through Clarus MarketMetrics.

DFW January 2019 home sales report from NTREIS through Clarus MarketMetrics.
Prudential Ada, Realtors
Dallas-Fort Worth-Arlington

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East Texas home sales surge in the new yearEast Texas home sales surge in the new yearhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=219392019-02-13T06:00:00Z2019-02-14T00:50:00Z

​​​​​​​​​​​​GREATER EAST TEXAS – January 2019 housing statistics have been released by the Greater Tyler Association of Realtors (GTAR).

Tyler area home sales for January 2019
Prudential Ada, Realtors

​See also: January 2018 Tyler-area Housing Statistics from GTAR​.

Source: {Source}

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