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Houston medical office absorption up 48K sf last monthHouston medical office absorption up 48K sf last monthhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=241142020-04-03T05:00:00Z2020-04-03T17:00:00Z

​HOUSTON – Overall vacancy for local medical office space was at 17 percent and availability was at 18.5 percent in February, both down from the previous month. 

According to NAI Partners, leasing activity was 230,000 sf in February 2020. Net absorption (move-ins minus move-outs) was at 157,000 sf, up from 109,000 sf in January 2020. 

There was 251,000 sf of medical space under construction, and one project delivered 65,000 sf. 

The average asking full-service rent was $27.25 per sf, while Class A medical office space averaged $32.93 per sf.

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

​​Source: NAI Partners

NAI Partners
Houston-The Woodlands-Sugar Land
Medical
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TxDOT proposes $28M FM 1488 widening project TxDOT proposes $28M FM 1488 widening project https://www.recenter.tamu.edu/news/newstalk-texas/?Item=241152020-04-03T05:00:00Z2020-04-03T17:00:00Z

​​Drawing of proposed FM 1488 widening

MAGNOLIA – The Texas Department of Transportation has proposed widening FM 1488 from US 290 Business to Joseph Rd. to improve safety, mobility, and connectivity. 

The $28 million project will widen the current two-lane road to a four-lane road with a median that spans approximately 20 miles. 

The project also seeks to improve connectivity between I-45 and US 290.

Texas logoThe Real Estate Center has more infrastructure and transportation news for Houston.

Source: Community Impact Newspaper

Community Impact Newspaper
Houston-The Woodlands-Sugar Land
Infrastructure & Transportation
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55K-sf Rockwall shopping center sold55K-sf Rockwall shopping center soldhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=241092020-04-03T05:00:00Z2020-04-03T16:00:00Z

Rockwall shopping center ROCKWALL – Ridge Road Towne Center, a 54,250-sf neighborhood shopping center, has been sold.

Built in 2005, the property at 1107 Ridge Rd. was 74 percent leased at the time of sale. 

Wellington Realty represented the seller.

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

REBUSINESS
Dallas-Fort Worth-Arlington
Retail
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Trinity Industries takes 150K-sf at International Plaza Trinity Industries takes 150K-sf at International Plazahttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=241102020-04-03T05:00:00Z2020-04-03T16:00:00Z

International Plaza in Farmer's Branch

​FARMERS BRANCH – Trinity Industries is moving its headquarters to the International Plaza office campus on the Dallas North Tollway.

The company is taking 150,000 sf in th​e high-rise project just north of Spring Valley Rd. on the west side of the tollway. 

Trinity Industries owns its current location at 2525 N. Stemmons Fwy. ​in Dallas.

Built in 1999 and 2002, International Plaza is owned by Taconic.

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

Dallas Morning News
Dallas-Fort Worth-Arlington
Office
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ABOR reopens in-person showings after executive order ABOR reopens in-person showings after executive order https://www.recenter.tamu.edu/news/newstalk-texas/?Item=241112020-04-03T05:00:00Z2020-04-03T16:00:00Z

​AUSTIN – Realtors in the metro are being told they can show properties again under a new statewide COVID-19 order. 

After Central Texas’ first shelter-in-place orders ​were announced, the Austin Board of Realtors (ABOR) strongly discouraged its members from in-person showings in certain locations. 

​However, after a recent executive order from Gov. Greg Abbott, ABOR said, "Realtors can show property across the market but should exercise great caution in doing so."

The order went into effect April 2.

Texas logoGet more COVID-19-related news on the Real Estate Center's website:

​​​Source: Austin Business Journal

Austin Business Journal
Austin-Round Rock
Housing
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$1.2M New Life Apostolic Church opens in Killeen $1.2M New Life Apostolic Church opens in Killeen https://www.recenter.tamu.edu/news/newstalk-texas/?Item=241122020-04-03T05:00:00Z2020-04-03T16:00:00Z

new church in Killeen

KILLEEN – New Life Apostolic Church has opened a new $1.2 million building at 4712 E. Rancier Ave. 

The church can seat 279 people. 

Due to the coronavirus outbreak, the church will offer streaming services until it is able to open to the public.

Texas logoThe Real Estate Center​​​​ has more Killeen-Temple real estate news​ online.

​Source: Killeen Daily Herald

Killeen Daily Herald
Killeen-Temple
Public Facilities
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Gov. Abbott introduces rental assistance program to ease COVID-19 strain Gov. Abbott introduces rental assistance program to ease COVID-19 strain https://www.recenter.tamu.edu/news/newstalk-texas/?Item=241132020-04-03T05:00:00Z2020-04-03T16:00:00Z

​​​AUSTIN – Governor Greg Abbott and the Texas Department of Housing and Community Affairs (TDHCA) have introduced a tenant-based rental assistance program for Texans experiencing financial hardships. 

Abbott has waived statutes related to the Department of Housing and Urban​ Development's (HUD) HOME Investments Partnership program, which provides grants in partnership with nonprofits to build, buy, and rehabilitate affordable housing projects. 

Waiving these statutes will give Texans more flexibility in using these funds to pay rent. 

The governor’s office has officially requested federal waivers from HUD to allow funds to be reprogrammed for that purpose. 

Texas logoGet more COVID-19-related news on the Real Estate Center's website:

​​​Source: REBusiness Online

REBUSINESS
Texas
Multifamily
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278-unit Windrush Apartments trades hands in Fort Worth278-unit Windrush Apartments trades hands in Fort Worthhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=241082020-04-03T05:00:00Z2020-04-03T15:00:00Z

​​​​Windrush Apartments

FORT WORTH – Shore to Shore Properties has sold the 278-unit Windrush Apartments to a California-based buyer. 

​​Built in 1984, the property at ​3500 Renzel Blvd. has both apartments and townhomes. 

Amenities include two pools, a fitness center, basketball court, and picnic areas. 

FourPoint Investment Sales Partners arranged the transaction. The new owner will implement a value-add program.

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

​Source: REBusiness Online

REBUSINESS
Dallas-Fort Worth-Arlington
Multifamily
Read more at {Source}
Turnbridge Equities planning high-rise hotel in downtown AustinTurnbridge Equities planning high-rise hotel in downtown Austinhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=241022020-04-02T05:00:00Z2020-04-02T19:00:00Z

​AUSTIN – New York-based Turnbridge Equities is planning a high-rise hotel on a 10,000-sf lot at 617 Colorado St. 

An entity connected to the company purchased the site from 712 Congress Holdings LLC.  

Texas logoGet more Austin hotel news​​ on the Real Estate Center's website.

Austin Business Journal
Austin-Round Rock
Hotel
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Zinkpower moves forward on $32M galvanizing plant Zinkpower moves forward on $32M galvanizing plant https://www.recenter.tamu.edu/news/newstalk-texas/?Item=241032020-04-02T05:00:00Z2020-04-02T19:00:00Z

​​WACO – Zinkpower has secured a $15 million permit to build a 161,000-sf galvanizing plant at 7401 Mars Dr.

The company will receive tax incentives and a $350,000 grant by hiring 100 employees and offering wages of at least $12/hour.

Mitchell Construction is the general contractor. 

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

​Source: Waco Tribune-Herald

Waco Tribune-Herald
Waco
Industrial
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Wallisville Industrial Park adds two tenants totaling 29K sf Wallisville Industrial Park adds two tenants totaling 29K sf https://www.recenter.tamu.edu/news/newstalk-texas/?Item=241042020-04-02T05:00:00Z2020-04-02T19:00:00Z

​WALLISVILLE – Two tenants have leased a combined 28,138 sf in Wallisville Industrial Park at 9135 Wallisville Rd.

Universal Wiping Rags will occupy 17,531 sf. Mariners Trading Corp. will move into a 10,607-sf building. 

Moody Rambin represented the owner during lease negotiations.

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

​Source: Realt​y News Report

Realty News Report
Houston-The Woodlands-Sugar Land
Industrial
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Star Cinema to open 57K-sf Woodlands location at former Randall’s siteStar Cinema to open 57K-sf Woodlands location at former Randall’s sitehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=241052020-04-02T05:00:00Z2020-04-02T19:00:00Z

THE WOODLANDS – Star Cinema Grill has leased 56,911-sf within the Windvale Center at 9429 College Park Dr. 

The company, which was recently acquired by Cinemex, will replace a Randall’s grocery store.

The J. Beard Real Estate Co. represented the landlord, Brixmor Property Group.

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

​Source: Houston Chronicle

Houston Chronicle
Houston-The Woodlands-Sugar Land
Retail
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Houston Mini Storage under new management after acquisition Houston Mini Storage under new management after acquisition https://www.recenter.tamu.edu/news/newstalk-texas/?Item=241062020-04-02T05:00:00Z2020-04-02T19:00:00Z

​​Aerial view of Houston Mini Storage on Main St.

HOUSTON – A locally based buyer has acquired the 31,490-sf Houston Mini Storage at 12841 S. Main St.

The 240-unit facility was 84 percent occupied at the time of sale.

Bellomy & Co. represented the buyer. NGKF represented the locally based seller.

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

​Source: Bellomy & Co.

Bellomy & Co.
Houston-The Woodlands-Sugar Land
Retail
Read more at {Source}
Waterpoint Center’s 40K-sf expansion slated for August completion Waterpoint Center’s 40K-sf expansion slated for August completion https://www.recenter.tamu.edu/news/newstalk-texas/?Item=241072020-04-02T05:00:00Z2020-04-02T19:00:00Z

​​Rendering of Waterpoint Center

CONROE – Gordon Partners is nearing completion of its expansion of Waterpoint Center, a mixed-use development that fronts Lake Conroe at 15290 SH 105. 

The project will add roughly 40,000 sf of retail, restaurant, and office space, as well as 60 new boat slips. 

Several tenants have signed on, including Akashi Asian Bistro, Kenz Mediterranean, Gary Greene Realtors, and Optimus Med Spa.

Completion is set for August 2020.

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

REBUSINESS
Houston-The Woodlands-Sugar Land
Mixed-Use
Read more at {Source}
Houston partnership sells 44K-sf shopping center Houston partnership sells 44K-sf shopping center https://www.recenter.tamu.edu/news/newstalk-texas/?Item=240982020-04-01T05:00:00Z2020-04-01T19:00:00Z

HOUSTON – A locally based partnership has sold a 43,631-sf shopping center at 7555 Bellaire Blvd. 

The property was built in 2004 and houses Family Thrift Center, Alegria Dental Care, ​and Club Fit. 

Marcus & Millichap represented the seller.

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

​Source: REBusiness Online

REBUSINESS
Houston-The Woodlands-Sugar Land
Retail
Read more at {Source}
Two dozen homes slated for Northwest Dallas Two dozen homes slated for Northwest Dallas https://www.recenter.tamu.edu/news/newstalk-texas/?Item=240992020-04-01T05:00:00Z2020-04-01T19:00:00Z

​​DALLAS ​​–​ Olerio Homes is building Modella Park, a 24-home residential project south of Webb Chapel Rd. and Forest Lane. 

Homes will start in the high $400,000s and have four floor plans. 

The houses were designed by Watson Design Group. ​

Texas logoGet more Midland-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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          Work wraps up on $4.73M Dairy Ashford Rd. widening project Work wraps up on $4.73M Dairy Ashford Rd. widening project https://www.recenter.tamu.edu/news/newstalk-texas/?Item=241002020-04-01T05:00:00Z2020-04-01T19:00:00Z

          ​SUGAR LAND – Work on widening Dairy Ashford Rd. from US 59 to just north of SH 90A has been completed, and all lanes are open.

          The $4.73 million project, which began in July 2018, is part of the city’s thoroughfare plan and its hike-and-bike master plan.

          Improvements included:

          • ​widening northbound Dairy Ashford Rd. from four to five lanes approaching SH 90A and from two to three lanes between SH 90​A and Julie Rivers Dr.;

          • widening southbound Dairy Ashford Rd. from two to three lanes between SH 90A and Parklane Blvd. and from four to six lanes approaching SH 90A; and

          • adding a six-ft sidewalk on the west side of Dairy Ashford and a ten-foot trail on the east side of the road.

          Construction eased the entries and exits to the Sugar Land Business Park along the roadway. 

          Texas logoThe Real Estate Center has more infrastructure and transportation news for Houston.

          Source: Community Impact Newspaper

          Community Impact Newspaper
          Houston-The Woodlands-Sugar Land
          Infrastructure & Transportation
          Read more at {Source}
          Stonebridge at City Park strategically trades handsStonebridge at City Park strategically trades handshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=241012020-04-01T05:00:00Z2020-04-01T19:00:00Z

          ​​​HOUSTON – Strategic Realty Holdings LLC has acquired Stonebridge at City Park, a 240-unit apartment community at 11800 City Park Central Ln. ​

          The property offers one- and two-bedroom units ranging from 680 to 1,107 sf.

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

          Florida-based Electra Capital contributed a $5.5 million preferred equity investment for the acquisition. 

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

          ​Source: REBusiness Online

          REBUSINESS
          Houston-The Woodlands-Sugar Land
          Multifamily
          Read more at {Source}
          CA Ventures plans mixed-use tower on half-blockCA Ventures plans mixed-use tower on half-blockhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=240962020-04-01T05:00:00Z2020-04-01T17:00:00Z

          ​​Mixed-use rendering in Austin

          AUSTIN – CA Ventures is planning a mixed-use tower on half of a block along E. 4th St. between Brazos St. and San Jacinto Blvd.

          Before building the tower, the company will demolish Brazos Hall and the 4th & Brazos offices. 

          Garza EMC LLC is the civil engineer. 

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

          ​​​Source: Austin Business Journal​

          Austin Business Journal
          Austin-Round Rock
          Mixed-Use
          Read more at {Source}
          New owner checks into Karnes City La QuintaNew owner checks into Karnes City La Quintahttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=240972020-04-01T05:00:00Z2020-04-01T17:00:00Z

          ​KARNES CITY – La Quinta Inn & Suites by Wyndham Karnes City-Kenedy at 1025 S. SH 123 has been sold for $5.4 million. 

          Amenities include a pool, busin​ess center, fitness center, and complimentary breakfast. ​

          Marcus & Millichap arranged the transaction. 

          Texas logoGet more Texas hotel news​​ on the Real Estate Center's website.

          REBUSINESS
          NonMSA Texas
          Hotel
          Read more at {Source}

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