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Montgomery slated for 100K-sf medical office park Montgomery slated for 100K-sf medical office park https://www.recenter.tamu.edu/news/newstalk-texas/?Item=238762020-02-13T06:00:00Z2020-02-22T00:00:00Z

​​​​Rendering of the 8-acre development.MONTGOMERY – CMK Real Estate is building Woodforest Professional Plaza at Fish Creek, a 100,000-sf office and medical building development. 

Phase one includes a two-story, 50,481-sf building called Woodforest Medical Plaza I. It is on four acres at the corner of Central Pine St. and the Fish Creek Thoroughfare. 

Sterling Ridge Orthopedics and Sports Medicine has signed on as the building’s anchor tenant. Construction will wrap up late this year​. 

Phase two will add a 10,000-sf built-to-suit facility. The final phase will include a 42,000-sf medical and office building. 

The J. Beard Real Estate Co. assisted CMK Properties LLC in the land acquisition. 

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

​​Source: Houston Business Journal​

Houston Business Journal
Houston-The Woodlands-Sugar Land
Medical
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Tessa at Katy coming this springTessa at Katy coming this springhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=239142020-02-20T06:00:00Z2020-02-22T00:00:00Z

​​KATY – The Tessa at Katy will open this spring at 150 Cobia Dr. 

The multifamily complex will have one- to three- bedroom units ranging from 680 to 1,500 sf. Monthly​ rents start at $1,135. 

Amenities will include a resort-style pool, gaming lawn, hammock park, gym, and an entertainment room.

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

​Source: Community Impact Newspaper​

Community Impact Newspaper
Houston-The Woodlands-Sugar Land
Multifamily
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Southstar heads west for multifamily buySouthstar heads west for multifamily buyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=239132020-02-20T06:00:00Z2020-02-21T23:00:00Z

​​​Image of the community pool with apartments in the background.CONROE – Southstar Capital Group has purchased West Creek Apartment Homes, a 228-unit community at 2211 Montgomery Park Blvd. 

The property has one- to three-bedroom floor plans. Amenities include a pool, business center, and resident clubhouse. 

Institutional Property Advisors represented the seller, Partin Real Estate Management, and procured the buyer.

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

​Source: REBusiness Online​

REBUSINESS
Houston-The Woodlands-Sugar Land
Multifamily
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RangeWater building 236-unit multifamily in Lower GreenvilleRangeWater building 236-unit multifamily in Lower Greenvillehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=239152020-02-20T06:00:00Z2020-02-21T21:00:00Z

​​​The as-yet-unnamed eight-story projectDALLAS – RangeWater Real Estate is building a multifamily development in the Lower Greenville neighborhood.

The eight-story, 236-unit project will be on 1.3 acres at 5714 Richmond Ave. 

GFF is the designer. Oden Hughes is the general contractor.

Residents will start moving in in ​spring 2022. 

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

​Source: Connect Media​

Connect Media
Dallas-Fort Worth-Arlington
Multifamily
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City approves 80-acre Allen mixed-use projectCity approves 80-acre Allen mixed-use projecthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=239052020-02-19T06:00:00Z2020-02-21T20:00:00Z

​​​​​The 80-acre Avenue developmentALLEN – The city council has approved The Avenue, an 80-acre mixed-use development at the southwest corner of SH 121 and Alma Rd.

The development, previously known as Allen Sports Village, will include: 

  • one million sf of office space,

  • 65 single-family homes,​

  • 1,600 urban residential units,

  • three hotels, and 

  • 275,000 sf of retail and restaurant space.

Many of the shops and dining venues will be built in old shipping containers. A food hall and a central outdoor plaza with water features will be included. 

Developer Thakkar originally proposed building a $500 million sports complex with a cricket stadium, but the deal was canceled after neighborhood opposition and the departure of a key player.

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

​Source: Dallas Morning News​
Dallas Morning News
Dallas-Fort Worth-Arlington
Mixed-Use
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Bowling venue rolls into 285K-sf Cottonwood Creek MarketBowling venue rolls into 285K-sf Cottonwood Creek Markethttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=239112020-02-19T06:00:00Z2020-02-21T20:00:00Z

​​​WACO – NewQuest is adding a bowling venue to ​its 285,000-sf Cottonwood​​ Creek Market entertainment district at I-35 and New Rd.

Negotiations are underway with a high-tech bowling and family-entertainment brand.

The district will be anchored by a single-story Topgolf complex and a 14-screen Cinemark movie theater. 

​Construction ​began last summer and will wrap up this winter. ​

Texas logoThe Real Estate Center has more Waco real estate news:

Source: KVVX-TV​
KXXV-TV
Waco
Retail
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Austin housing market takes off in 2020Austin housing market takes off in 2020https://www.recenter.tamu.edu/news/newstalk-texas/?Item=239122020-02-19T06:00:00Z2020-02-21T20:00:00Z

​​​​AUSTIN – The metro kicked off 2020 with record-​high home sales and median sales prices in January.

Last month, sales volume increased by 8.6 percent from January 2019 to 1,738 single-family homes sold, according to the Austin Board of Realtors. 

The median sales price increased by 5.1 percent year over year to $310,000.

Austin proper also set a January record for median home price. It saw a 16 percent year-over-year​ increase to $405,500.

Within city limits, single-family home sales decreased 1.7 percent over the year to 472 sales.

texaslogo.pngThe Real Estate Center has more information on housing:​
Austin American-Statesman
Austin-Round Rock
Housing
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TAMU saying 'howdy!' to Texas Medical CenterTAMU saying 'howdy!' to Texas Medical Centerhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=239162020-02-20T06:00:00Z2020-02-21T19:00:00Z

​​​Rendering of Texas A&M's three-building project in the texas medical centerHOUSTON – ​​The Texas A&M University System is developing a three-building, $546 million complex in the Texas Medical Center.

The system purchased the 5.5 acres at 1020 Holcombe Blvd. in 2017.  

An existing 18-story building is being renovated for the Engineering Medicine program. The system will spend $145 million on purchasing and renovating the tower.

A 19-story, 365,000-sf building will have 572 student housing units with 704 beds. It will also have a 1.2 million-sf parking garage with 3,444 spaces. 

A&M medical students and Prairie View A&M nursing students will have priority housing. 

Completion is set for June 2022. 

The final building is the 30-story, 587,000-sf Integrated Medical Plaza. It will have a 13-story parking garage, 72,000 sf of retail space, and 8,700 sf of green space. It​​ will deliver by June 2023.

The development is the largest current project in the center. The two new construction projects are public-private partnerships with Medistar Corp. 

Texas logoThe Real Estate Center has more informati​on like this online:

​Source: The Eagle​
The Eagle
Houston-The Woodlands-Sugar Land
Mixed-Use
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Coastal Bend records record-low December unemploymentCoastal Bend records record-low December unemploymenthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=239042020-02-19T06:00:00Z2020-02-21T00:00:00Z

​​​​​Market data over the Coastal Bend region's housing market.CORPUS CHRISTI – The Coastal Bend region ended 2019 on a high note with steady growth in employment and business activity despite uncertainty at the national and global levels.

According to the South Texas Economic Development Center at Texas A&M University-Corpus Christi, 1,327 jobs were added across the area last year. Several sectors, including mining and construction, contributed​ to the job growth, but trade and business services saw an annual decline. 

The 4.2 percent unemployment rate was a historical low for the month of December. Across the Coastal Bend, Live Oak County experienced the lowest unemployment at 2.9 percent.

Strong labor market and business conditions have contributed to a tight housing market locally and statewide. The region's median home sales price hit $215,500 by the end of 2019. 

Inventory shrank to 4.7 months, the lowest since mid-2014. The Real Estate Center considers six to 6.5 months of inventory a balanced market. 

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

South Texas Economic Development Center
Corpus Christi
Economy
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HCA Healthcare plans 49K-sf Pearland training facility HCA Healthcare plans 49K-sf Pearland training facility https://www.recenter.tamu.edu/news/newstalk-texas/?Item=239082020-02-19T06:00:00Z2020-02-21T00:00:00Z

​​​​​​​Rendering of the 48,400-sf training facility. PEARLAND – HCA Houston Healthcare is developing a 48,400-sf training center at 11200 Broadway St. in Pearland Town Center. 

The facility, dubbed the HCA Healthcare Center for Clinical Advancement, will provide clinical education and training for the health system’s nearly 7,000 nurses.

It will standardize training across the health system’s operations and offer new-hire orientation and leadership education.

Construction begins later this month with completion scheduled for early 2021.

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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NuHomes for new buyersNuHomes for new buyershttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=239092020-02-19T06:00:00Z2020-02-21T00:00:00Z

​​​Image of a NuHome.PORTER – Miami-based Lennar Corp. is opening its second Houston-area NuHome community, dubbed Country Colony, at 5803 Rosehill Forest Ln.

The community, which aims to provide low-cost homes to entry-level buyers, will offer more than 90 homesites with houses starting in the $170,000s. 

Buyers will choose from six floor plans, ranging from 1,174 to 2,229 sf, which come in three- and four-bedroom layouts. One- and two-story floor plans will be available.

Each home will have a​ two-car garage.

Down payment assistance will be available to qualified buyers. The first homes will be available for move-in this spring.

texaslogo.pngThe Real Estate Center has more information on housing:​
Houston Business Journal
Houston-The Woodlands-Sugar Land
Housing
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Hunington breaks ground on 168-unit multifamily project Hunington breaks ground on 168-unit multifamily project https://www.recenter.tamu.edu/news/newstalk-texas/?Item=239102020-02-19T06:00:00Z2020-02-21T00:00:00Z

​​Rendering of the Interpose.HOUSTON – Hunington Properties has broken ground on The Interpose, a 168-unit multifamily project on 1.4 acres at 1107 Shepherd Dr.

The six-story building in the Washington Heights district will include ​​20,475 sf of ground-level retail space and a two-level parking garage. 

Amenities will include a rooftop deck, swimming pool, outdoor kitchen, fitness center, clubhouse, business center, and dog park.

The project will deliver in second quarter 2021. 

Greystone Capital Advisors arranged a $38 million loan from Parkview Financial on behalf of the developer. 

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

​Source: Multi-Housing News​

Multi-Housing News
Houston-The Woodlands-Sugar Land
Multifamily
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Work kicks off on 3.5M-sf South Belt Central Business ParkWork kicks off on 3.5M-sf South Belt Central Business Parkhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=239072020-02-19T06:00:00Z2020-02-20T23:00:00Z

​​​Rendering of Phase I's completion. HOUSTON – Locally based Investment & Development Ventures LLC (IDV) has broken ground on the two-building first phase of the 3.5 million-sf South Belt Central Business Park. 

​​According to IDV, the first building will be a 274,680-sf cross dock facility with 32-ft clear heights, ESFR sprinklers, trailer parking, and 307 parking spaces.

The second will be a 130,800-sf building featuring 32-ft clear heights, a 130-ft truck court, ESFR sprinklers, side load space, and 260 parking spaces. 

Phase I will deliver in fourth quarter 2020. 

Cushman & Wakefield will handle leasing for the project.

South Belt Central Business Park is on 214 acres at the northeast corner of Beltway 8 and Cottingham St. 

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

​Source: REBusiness Online​

REBUSINESS
Houston-The Woodlands-Sugar Land
Industrial
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110-unit seniors housing community underway in Aledo110-unit seniors housing community underway in Aledohttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=239062020-02-19T06:00:00Z2020-02-20T21:00:00Z

​​​ALEDO – A partnership between Civitas Senior Living and Journey Capital will develop Harvest Senior Living, a 110-unit senior housing community at 900 Bailey Ranch Rd.

The 7.5-acre, 68,000-sf community will have 70 assisted-living, 20 memory-care, and 20 independent-living units.

Amenities will include a salon and creative arts studio.

Construction begin in June and will ​​be complete by winter 2021.

texaslogo.pngLooking for more Dallas-area senior living news? The Real Estate Center's got you covered. ​

Source: REBusiness Online​
REBUSINESS
Dallas-Fort Worth-Arlington
Senior Living
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Odyssey inks 50K-sf industrial lease in Texas City Odyssey inks 50K-sf industrial lease in Texas City https://www.recenter.tamu.edu/news/newstalk-texas/?Item=238972020-02-17T06:00:00Z2020-02-20T01:00:00Z

​​​​TEXAS CITY – Odyssey 2020 Academy Inc. has signed a 50,000-sf industrial lease at 10000 Emmett F. Lowry Expy.

The property is just east of where the expressway meets I-45.​

Lee & Associates represented the tenant in the lease negotiations.

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

​Source: REBusiness Online​

REBUSINESS
Houston-The Woodlands-Sugar Land
Industrial
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Western Wealth picks up 272-unit Oak Grove Apartments Western Wealth picks up 272-unit Oak Grove Apartments https://www.recenter.tamu.edu/news/newstalk-texas/?Item=238962020-02-17T06:00:00Z2020-02-20T00:00:00Z

​​​​​Image of one of the 15 buildings on the property. HOUSTON – Western Wealth Capital has acquired Oak Grove Apartments, a 272-unit community at 10770 Barely Ln. 

The 24.5-acre property has 15 two- and three-story buildings with one- to three-bedroom floor plans.

Amenities include a swimming pool, gym, dog park, and playground. 

Berkadia arranged $22.6 million in financing​ from Voya Financial on behalf of the buyer.

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

​Source: Multi-Housing News​

Multi-Housing News
Houston-The Woodlands-Sugar Land
Multifamily
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Space City buyer lands on 26.5K-sf Mars Plaza Space City buyer lands on 26.5K-sf Mars Plaza https://www.recenter.tamu.edu/news/newstalk-texas/?Item=238982020-02-17T06:00:00Z2020-02-20T00:00:00Z

​​​​​Image of the shopping center. ​BEAUMONT – A Houston-based LLC has purchased Mars Plaza, a 26,500-sf shopping center at 2949 College St. 

Built on 2.5 acres in 2013, the two-building property is home to Little Caesars, Lone Star Tax Service, Farmers Insurance, and Magic Fiesta. 

Marcus & Millichap represented the seller, a locally based developer.

Texas logoIf you're looking for more news like this, head to the Center's website.

REBUSINESS
Beaumont-Port Arthur
Retail
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Lake Jackson slated for Olin's new Texas HQ Lake Jackson slated for Olin's new Texas HQ https://www.recenter.tamu.edu/news/newstalk-texas/?Item=238992020-02-17T06:00:00Z2020-02-20T00:00:00Z

​​​​Rendering of the 62.5K-sf building.LAKE JACKSON – Missouri-based Olin Corp. is building its new Technology and Administration Center to serve as the main building for its ​Texas operations.

Formerly a Randall’s grocery store, the 62,500-sf property at 604 SH 332 will consolidate more than ​200 employees from seven area offices. 

When renovations wrap up this summer, the building will feature an open floor plan with glass interior walls, large windows, and a 130-seat industrial design training hall.

Dallas-based owner/developer St. Ives Realty and partner LandPlan Development Corp. are leading the construction. LSI Construction is also on the building team. 

Houston-based Osborn & Vane Architects designed the building.

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

​Source: Houston Business Journal​

Houston Business Journal
Houston-The Woodlands-Sugar Land
Office
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Houston-based manufacturer injects itself into 64K-sf facility Houston-based manufacturer injects itself into 64K-sf facility https://www.recenter.tamu.edu/news/newstalk-texas/?Item=239022020-02-18T06:00:00Z2020-02-20T00:00:00Z

​​​Rendering of 64,000-sf manufacturing facility. HOUSTON – Texas Injection Molding has purchased 6.8 acres at 11016 Bay Commerce Dr.​ to develop a 64,000-sf production plant.

Phase one will be construction of the $6.5 million plant. The second phase will expand the facility to 94,000 sf. Phase one will be delivered late this year. 

The buyer, a manufacturer of plastic injection molded products, purchased the land from Wycoff Development Corp.​

Bank of America is financing the project via a 504 SBA loan.

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

​Source: Houston Business Journal​

Houston Business Journal
Houston-The Woodlands-Sugar Land
Industrial
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222-unit property package sold in Fort Worth222-unit property package sold in Fort Worthhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=238922020-02-17T06:00:00Z2020-02-19T23:00:00Z

​​​​​​Villas Del Sol and WedgewoodFORT WORTH – A Dallas-based limited liability company has sold two multifamily communities totaling​ 222 units.

Villas Del Sol at 6100 Westcreek Dr. and Wedgewood Apartments at 2819 Walton Ave. have 104 and 118 units, respectively. 

Marcus & Millichap marketed the properties on behalf of the seller and secured the buyer, a private investor. 

The new owners will change property management and implement ​a capital improvement program.  

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

​Source: Marcus & Millichap

Marcus & Millichap
Dallas-Fort Worth-Arlington
Multifamily
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