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RECON for September 30, 2022RECON for September 30, 20222022-09-30T05:00:00Z2022-09-30T05:00:00Z

RECON Texas Real Estate Research Center
Fall aerial view of Austin neighborhood
Amid robust mortgage rate increases, Texas' housing market quickly dialed back sales while housing supply has gradually accumulated. Despite the slowdown, inventory levels remain below historical levels, and prices are still high. While prices have dipped some in recent months, they still remain considerably high compared with before the pandemic. Read more in the latest Texas Housing Insight report. (Photo from Center files.)
September 30, 2022

Multifamily project slated for McKinney

​McKINNEY (Connect CRE) – Billingsley ​Co. is developing Chase at Wilson Creek, an 800,000-sf multifamily project at 6500 W. University Dr.

The project will have 17 residential buildings, three amenity buildings, a detached garage, and standalone garage. Phase I will use 27.6 acres of the 58-acre site.

Construction will begin by the end of November, with phase one wrapping in May 2024.

Billingsley purchased the site in 2005. 
Helping Texans make the best real estate decisions since 1971.

Continental opens 215K-sf plant in New Braunfels

​NEW BRAUNFELS (Connect CRE) – Continental Automotive Systems has opened a 215,000-sf manufacturing plant.

The plant will manufacture radars, sensors, and other products for advanced driver assistance systems.

The $110 million project is on 48 acres near I-35. 
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Phase two of Plano office project beginning this winter

​​​PLANO (REBusiness Online) – Cawley Partners will start this December on the second phase of the Parkwood office project. 

Phase II will include a 120,000-sf building. SFMG Wealth Advisors will lease 22,000 sf​. ​

The first phase includes a 120,000-sf building fully leased to First United Bank​. It is nearing completion. 

Development amenities include conference centers, rooftop terraces, pickleball court, and a fitness center.​
In Other News: From the NewsTalk Texas feed
Looking for more real estate news? Our NewsTalk Texas feed has all the latest headlines. Here's a sample:

Tropicale starts on 227K-sf manufacturing facility

​​​​LUBBOCK (Globe Newswire) – Tropicale Foods has broken ground on a $75 million manufacturing facility at 1001 E. 33rd St.

The 227,000-sf facility will crea​te 500 jobs.

Operations will begin in second quarter 2023.​
market viewer screen shotTexas Realtors' MarketViewer tool helps members and their clients quickly understand the market statistics in their area. This powerful tool is a member benefit available exclusively to Texas Realtors and local Realtor associations in Texas. Data are compiled and analyzed through a research agreement between Texas Realtors, the Texas Real Estate Research Center, and all MLSs across the state. 

Stonefield 35 industrial project in the works

​​​​​​BUDA (REBusiness Online) – Mississippi-based EastGroup Properties has broken ground on Stonefield 35, a 275,559-sf industrial project.

The three-b​uilding project will have 28-ft clear heights, 180-ft truck court depths, and ESFR sprinkler ​systems.

Pross Design Group is the architect. RC Page Construction is the general contractor. Transwestern is the leasing agent.

Construction wraps in mid-2023.

Partnership bringing senior-living community to Spring

​​​​​​​​SPRING (Cadence McShane Construction Co.​) – Braintree Properties and Cadence McShane are building the Aviva Terranova Independent Senior-Living Community.

The four-story, 140,000-sf facility will have 163 one- and two-bedroom units.​

Amenities will include a fitness center, pool, theater, library, café, and 215-space parking garage.

Completion is slated for the end of 2023. 
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RECON for September 27, 2022RECON for September 27, 20222022-09-27T05:00:00Z2022-09-27T05:00:00Z
RECON Texas Real Estate Research Center
WHAT'S HAPPENING IN TODAY'S RECON? Work starting on 49-story Austin apartment tower, Webster future home to Texas' second Great Wolf Lodge, Beacon Hill master-planned community expanding, and more. Keep reading for the details. (Rendering by Stantec.)
September 27, 2022

Construction starting soon on 80 Rainey

​​​​​​​AUSTIN (Connect CRE) – LV Collective will start work soon on 80 Rainey, a 49-story, 550-ft-tall residential tower at 80 Rainey St. 

The 644-unit project will have studios to three-bedroom floor plans. At least 20 units will be designated as affordable housing. 

​An amenity deck on floors 11 to 13 will have coworking space and other services. There will also be a rooftop pool and top-floor loung​​​e. 

80 Rainey​ will have 6,023 sf of restaurant space and 6,778 sf of bar space with a coffee and cocktail lounge and basement speakeasy. 

Completion is slated for 2025. ​​

Two historic bungalows currently occupying the site will be preserved. 
Employment report
Read more in the latest Texas Employment Report. This report will be discontinued effective October 2022. Employment data can be found on the Texas Real Estate Research Center's website and in the Center's monthly Outlook for the Texas Economy report. Sign up to be notified when the report is published.

Texas getting second Great Wolf Lodge

​​​WEBSTER (Houston Business Journal) – Great Wolf Resorts Inc. has broken ground on the Houston area's first Great Wolf Lodge.

The roughly 500,000-sf project will be on 27 acres east of I-45.

It will include a 58,0​00-sf family entertainment area with arcade, bowling, miniature golf, and more; restaurants and retail; outdoor resort pool; 95,000-sf indoor water park; and 532-room hotel.

Stantec is the architect. Vici Properties and J.P. Morgan provided financing for the more than $200 million project.

Completion is slated for mid to late 2024. 
Sketchy drawing of commercial buildingsThe Texas Real Estate Research Center's Texas Quarterly Commercial Report looks at past, present, and future commercial real estate activity in the state's four major metropolitan areas. It covers the office, retail, and warehouse sectors. Read and download the report for free, and subscribe to know when the next issue is published. 

Fort Worth shopping center sold

​​​FORT WORTH (Connect CRE) – Centergy Retail has sold Left Bank, a 114,120-sf retail center anchored by Tom Thumb.

The project is 98 percent occupied by tenants including ​Hopdoddy Burger Bar, Crumbl Cookies, Nékter Juice Bar, and Buffalo Wild Wings.

The retail center is part of a 34-acre mixed-use development.

CBRE National Retail Partners brokered the deal on behalf of the seller.
NewsTalk Texas logoHungry for more Texas real estate news? Then feast your eyes on NewsTalk Texas, our online news database. Here are a few of the stories you'll find there this week: NewsTalk Texas is updated each weekday, throughout the day. 

Wolff adding 22.7 acres to Beacon Hill

​​​​​WALLER (Houston Business Journal) – Wolff Cos. has acquired 22.7 acres adjacent to its Beacon Hill master-planned comm​​unity on US 290.

The land was purchased from the McCaig Family Limited Partnership. The addition brings Beacon Hill to 587 acres. ​​​

Nearly 11 acres will be used for commercial development with the remainder slated for drainage and detention.​
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Avilla Rio Oaks on the way

​​​​​​LIBERTY HILL (Austin Business Journal) – NexMetro has purchased 25 acres near CR 263 and Seward Junction Loop for a 260-home rental neighborhood 

Avilla Rio Oaks will have single-level one-, two-, and three-bedroom homes ranging from 700 to 1,265 sf.

DTJ Design Group is the architect. Bryan Haggard Land Group brokered the land sale.
Communication Matters video seriesThe Texas Real Estate Research Center's Texas Home Price Index measures price appreciation changes for residential single-family homes. It provides data for eight different Texas metros across three different price ranges.

Saltbox opens Carrollton coworking, warehouse project

​​​CARROLLTON (Connect CRE) – Saltbox has opened a coworking and warehouse project at 1501 Randolph St. 

The 128,000-sf facility has ​​​169 flexible storage spaces and ten office spaces. 

Saltbox will also provide clients​ with shipping services and other options. ​​
Helping Texans make the best real estate decisions since 1971.

1,326-unit self-storage facility trades hands

​​​HOUSTON (REBusiness Online) – Prime Storage, a 1,326-unit self-storage facility, has been sold.

The facility spans 189,088 net rentable sf.​

Marcus & Millichap represented the seller. 
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Copyright © *|CURRENT_YEAR|*, All rights reserved.
Material herein is published according to the fair-use doctrine of U.S. copyright laws related to non-profit, educational institutions. Items attributed to sources other than the Texas Real Estate Research Center at Texas A&M University should not be reprinted without permission of the original source. To send news items for consideration, e-mail Hayley Rieder Wiley. The Texas Real Estate Research Center is part of the Division of Academic and Strategic Collaborations at Texas A&M University in College Station - the heart of the Research Valley.

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RECON for September 23, 2022RECON for September 23, 20222022-09-23T05:00:00Z2022-09-23T05:00:00Z
RECON Texas Real Estate Research Center
Beautiful fall foliage lines the Sabinal River at Lost Maples State Park
HAPPY FALL, Y'ALL! Beautiful fall foliage lines the Sabinal River at Lost Maples State Natural Area. (Photo from Center files.)
September 23, 2022

Atlantica at Alamo breaks ground

​​SAN ANTONIO (Cadence McShane Construction Co.) – Sovereign Properties and Invest Capital Group have broken ground on Atlantica at Alamo.

The garden-style commu​nity will be on 12.5 acres at 5415 Alamo Pkwy. It will have 375 units across eight four-story buildings. 

Atlantica at Alamo will have one-, two-, and three-bedroom floor plans and 638 parking spaces. 

Amenities will include a pickleball court, pool, courtyard, fitness center, and dog park. 

Completion is slated for late 2024. The community will welcome residents after completion of the first building and amenity center. 

Cadence McShane Construction Co. is building the property. Womack + Hampton Architects designed it.
Home increase
Conventional wisdom says homeownership is one of the soundest investments a person can make. True, but rising interest rates mean it will take longer for homeowners to reap rewards. Read more in "Home Stretch: Buyers Feel Pinch of Rising Rates.

Conservation Equity Management snags Chocolate Bay parcel

​​​​BRAZORIA COUNTY (AP News) – Conservation Equity Management LP has acquired 5,403 acres of wetlands, dubbed the Chocolate Bay Conservation parcel.​

The land includes 9.2 miles of frontage with local bayous and 2.3 miles of bay frontage.

The new owner will construct a habitat conservation bank and a carbon capture and storage facility on the property. The site will also be home to the 2,500-acre Frentress-Johnson Wetland Mitigation Bank. 
Texas jobs outlook
Since losing 1.4 million jobs due to the pandemic, the Texas labor market has recovered and improved. The job market has even remained steady despite recent rapid inflation. What's in store for the rest of the year? Tune in to find out.

Six DFW hospitals sold to JV

​​DALLAS-FORT WORTH (REBusiness Online) – Seavest Healthcare Properties, in a joint venture with Heitman LLC, has acquired six emergency hospitals totaling 190,000 sf. 

The facilities, which each featu​re 24/7 emergency services and eight to 12 beds, are in Burleson, Colleyville, Keller, Murphy, Rockwall, and Grand Prairie. 

The assets are operated by Baylor Scott & White.
In Other News: From the NewsTalk Texas feed
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LTR signs full-building lease in Houston

​​​​​HOUSTON (REBusiness Online) – LTR Intermediate Holdings Inc. has signed a 127,046-sf, full-building industrial lease at 2425 Turning Basin Dr.

The property has 12 dock-high door​​​s, 23-ft clear heights, and 20,292 sf of office space.

Colliers represented the landlord, Macey Family Properties. Windsor Hill Real Estate Group represented the tenant.​
Helping Texans make the best real estate decisions since 1971

GenCap bringing 586 apartment units to Manor Crossing

​​​MANOR (Connect CRE) – GenCap Partners has purchased 26 acres in Manor Crossing for a multifamily project called The Park at Manor Crossing.

The 586-unit community will be built in two phases. Construction begins on phase one in fourth quarter 2022. ​

It will be ready for move-in in summer 2026.​
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Work starts on Live Oak office, industrial project

​​LIVE OAK (REBusiness Online) – Whiting-Turner Construction has broken ground on Alterman's 19.7-acre headquarters campus. 

Phase one includes a 199,765-sf facility designed by Studio8. 

At buildout, the campus will have office space, a logistics building, and outdoor amenities.

Completion is slated for early 2024.
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Copyright © *|CURRENT_YEAR|*, All rights reserved.
Material herein is published according to the fair-use doctrine of U.S. copyright laws related to non-profit, educational institutions. Items attributed to sources other than the Texas Real Estate Research Center at Texas A&M University should not be reprinted without permission of the original source. To send news items for consideration, e-mail Hayley Rieder Wiley. The Texas Real Estate Research Center is part of the Division of Academic and Strategic Collaborations at Texas A&M University in College Station - the heart of the Research Valley. 

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RECON for September 20, 2022RECON for September 20, 20222022-09-20T05:00:00Z2022-09-20T05:00:00Z
RECON Texas Real Estate Research Center
FOR ALL OF HUMAN HISTORY, water has naturally served as a boundary for land. But rivers and shorelines aren't static, moving either gradually or abruptly. How are property rights in real estate affected by these changes? Read more in "Moving Water: Boundary Changes and Property Rights." (Photo from Center files.)
September 20, 2022

Rockport residential sales decrease, prices grow

​​​ROCKPORT (Coldwell Banker The Ron Brown Company) – While area home sales were down so far this year, median home prices saw a double-digit increase, according to Coldwell Banker The Ron Brown Company's The Swearingen Report.

Residential property sales—including townhomes, condos, and single-family homes—​totaled 648 for the 12 months ending August 2022. That's down 10 percent from last year. 

Total dollar value also dropped, falling 1.1 percent to about $284.7 million. 

The median sales price for residential homes was $349,900 for the 12 months ending August 2022, up 11.5 percent from the same period ending August 2021 when it was $313,890.

Average sales price was also up, increasing 9.9 percent from $399,780 in the 12 months ending August 2021 to $439,166 in the same period 2022. 

Active listings increased 18.3 percent to 155 in the 12 months ending August 2022.

Months of inventory improved significantly, increasing 40.9 percent to 3.1 months. The Texas Real Estate Research Center considers six to 6.5 months of inventory a balanced market.
Outlook for Texas Economy
Read more in the latest Outlook for the Texas Economy report.

JV breaks ground on 1.2M-sf logistics project

​​​​CONROE (REBusiness Online) – Lovett Industrial and Cresset Partners have broken ground on NorthPort Logistics Center, a 1.2 million-sf logistics project.

The Class A facility will be on 75 acres within Conroe Park North. It will​ have 224 dock-high doors, 190-ft truck court depths, 40-ft clear heights, and at least 273 trailer parking stalls.

Powers Brown Architecture is designing the project. Alston Construction is the general contractor.

CBRE is the leasing agent. Citizens Bank provided construction financing.

Completion is slated for second quarter 2023. 
hello! hola!
The English-Spanish Real Estate Glossary defines, translates, and explains 787 real estate terms. Just click on the translated term and hear it spoken in Spanish. It's a must-have for anyone with Spanish-speaking real estate clients. 

Partnership acquires Elan Memorial Park

​​​​HOUSTON (DLP Capital) – DLP Capital and ORP Investments have acquired Elan Memorial Park at 920 Westcott St.

The mixed-use community has retail space and 297 multifamily units.

Apartment amenities include a p​ool, rooftop lounge, outdoor firepit and grilling area, clubhouse with gaming center, fitness center, bike storage, and indoor dog spa.

The new owners will renovate the property, including updating exterior paint, landscaping improvements, and siding updates.

Elan Memorial Park was 92 percent occupied at the time of sale. 
NewsTalk Texas logoHungry for more Texas real estate news? Then feast your eyes on NewsTalk Texas, our online news database. Here are a few of the stories you'll find there this week: NewsTalk Texas is updated each weekday, throughout the day. 

Former Amazon industrial property sold

​IRVING (REBusiness Online) – DFW Park 161 AMZL, a 219,000-sf industrial property at 3000 SH 161, has been sold.

Constructed in 2022 as a build-to​-suit for Amazon, the property is on 55.7 acres with 1,440 parking spaces and 9.3 percent office finish.

JLL represented the seller, a joint venture between Perot Development Co. and Invesco Real Estate. 
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Palladius picks up 342 Class A units south of Austin

​​​​​​KYLE (Multi-Housing News) – Palladius Capital Management has purchased Citizen House Kyle, a 342-unit, Class A complex at 3400 Kyle Crossing.

The luxury community has one- and two-bedroom units ranging from 800 to 1,250 sf.

Amenities include a pool, clubhouse, fitness center, outdoor lounge, and coworking space.

Endeavor Real Estate Group was the seller.
Magnifying glass in librarySearching for reliable and accurate real estate and economic papers can be time consuming. The Texas Real Estate Research Center is here to help. Access our Research Library for a nearly endless database of economic reports, research articles, and technical papers. Get it all in one place completely free. 

Construction begins on Magnolia Springs

​​​MONTGOMERY (Community Impact Newspaper) – Construction has started on Magnolia Springs, a 665-acre residential community. 

Phase 1 includes 226 lots. Hom​es will start in the $240,000s. 

When complete, Magnolia Springs will have 2,000 homes, 175 acres of green space, and retail. 

First America Homes, Rausch Coleman Homes, and Century Communities are the builders. 
Helping Texans make the best real estate decisions since 1971.

15-story office tower coming to Lady Bird Lake

​​​​​​AUSTIN (Austin American-Statesman) – New York-based Related Companies is planning a 15-story office tower called One Ladybird Lake.

It will be at 208 Barton Springs Rd.​ on the current site of the Hyatt Regency Austin's parking lot.

Construction begins late next year with completion slated for late 2025.​
Free Land... Data! Texas, Louisiana, Alabama, Mississippi
Looking for reliable rural land data for Mississippi, Louisiana, Alabama, and Texas? We've got you covered. Get the data exclusively from the Texas Real Estate Research Center.
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Copyright © *|CURRENT_YEAR|*, All rights reserved.
Material herein is published according to the fair-use doctrine of U.S. copyright laws related to non-profit, educational institutions. Items attributed to sources other than the Texas Real Estate Research Center at Texas A&M University should not be reprinted without permission of the original source. To send news items for consideration, e-mail Hayley Rieder Wiley. The Texas Real Estate Research Center is part of the Division of Academic and Strategic Collaborations at Texas A&M University in College Station - the heart of the Research Valley. 

https://www.recenter.tamu.edu/news/recon/?Item=609
RECON for September 16, 2022RECON for September 16, 20222022-09-16T05:00:00Z2022-09-16T05:00:00Z
RECON Texas Real Estate Research Center
Victoria county courthouse
MEDIAN HOME PRICES IN VICTORIA were up in the 12 months ending August 2022. Home sales were also up since 2021. Keep reading today's RECON for the details. (Photo by Tricia Daniel, Shutterstock.)
September 16, 2022

WalletHub: Texas second in diversity

​​​WASHINGTON (WalletHub) – According to a WalletHub study, Texas is the second most diverse state, behind only California. 

The Lone Star State ranked fourth in cultural diversity and sixth in religious diversity. It was ninth​ in socioeconomic diversity, 13th in economic diversity, 36th in household diversity, and 39th in political diversity. 

Texas was also first in industry diversity, third in linguistic diversity, fourth in racial and ethnic diversity, and fifth in household size diversity. 

Hawaii, New Jersey, and New York rounded out the top five. 

​Texas' ranking was unchanged from last year's list.

Earlier this year, a report by Texas Realtors found Texas homebuyers are more diverse than the national average.

To determine the rankings, WalletHub compared all 50 states across six key dimensions. 
Helping Texans make the best real estate decisions since 1971.

Victoria MLS home prices, sales up in August

​​​​VICTORIA (Coldwell Banker The Ron Brown Company) – ​​Both local home prices and sales were up in August 2022, according to Coldwell Banker The Ron Brown Company's The Swearingen Report.

​The average sal​​es price for residential homes was $256,9​31 for the 12 months ending August 2022, up 9 percent from the same period ending August 2021 when it was $235,824.

Median sales price was also up, increasing​​​ 6.7 percent from $215,500 in the 12 months ending August 2021 to $230,000 in the same period 2022. 

Total residential​ sales in the Victoria Multiple Listing Service were 1,262, up 3.7 percent from the same period in 2021. Activing listings also increased 15.2 percent to 257 in the 12 months ending August 2022.

Total building permits ticked up to 185 in the 12 months ending August 2022.

Months of inventory increased ​19​​​​ percent to 2.5 months. The Texas Real Estate Research Center considers six to 6.5 months of inventory a balanced market.​​
July 2022 Housing Insight
Read more in our latest Texas Housing Insight report.

Joint venture pushes forward with industrial development

​​​​​​FORNEY (Ashlar Projects) – Holt Lunsford Commercial Investments and Principal Real Estate Investors are developing Gateway Crossing Logistics Park.

The property will​ consist of three buildings totaling more than 1.76 million sf across 127 acres. 

The first and largest building will be 1.02 million sf, the second will be 473,397 sf, and the third will have 264,940 sf.

Construction will wrap in late 2023.
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Alliance Industrial begins work on Corridor Commerce Center

​​​​​​BUDA (REBusiness Online) – Alliance Industrial has started construction on a 157,450-sf speculative project called the Corridor Commerce Center.

Located on 12 acres along I-35, the building will have 32-ft clear heights, two drive-in doors, and an ESFR sprinkler system.

Seeberger Architecture designed the project. Transwestern will handle leasing.

Construction wraps in March 2023.
In Other News: From the NewsTalk Texas feed
Looking for more real estate news? Our NewsTalk Texas feed has all the latest headlines. Here's a sample:

Caliza at the Loop on the way

​​​SAN ANTONIO (San Antonio Express-News) – RangeWater Real Estate has broken ground on a 154-unit build-to-rent townhome community called Caliza at the Loop.

Homes will average 1,600 sf with three bedrooms and two-and-a-half bathrooms.

Amenities will ​​include a clubhous​e, pool, grilling area, playground, fitness center, and business center.
market viewer screen shotTexas Realtors' MarketViewer tool helps members and their clients quickly understand the market statistics in their area. This powerful tool is a member benefit available exclusively to Texas Realtors and local Realtor associations in Texas. Data are compiled and analyzed through a research agreement between Texas Realtors, the Texas Real Estate Research Center, and all MLSs across the state. 

GXO Logistics signs 644K-sf industrial lease

​​​​FORT WORTH (REBusiness Online) – GXO Logistics has signed a 644,318-sf industrial lease at Everman Crossroads. 

The tenant will occupy all of Building Two.

CBRE represented the landlord, MDH Partners. Colliers represented GXO.

Everman Crossroads is a ​954,611-sf development at 1401 Everman Pkwy.

Corpus Christi multifamily sold

​​​CORPUS CHRISTI (REBusiness Online) – Island Villas, a 336-unit multifamily property at 1641 Nile Dr., has been sold.

Amenities include pool, fitness center​, billiard​s room, pet play area, and package room.

Northmarq brokered the sale and arranged acquisition financing.
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Copyright © *|CURRENT_YEAR|*, All rights reserved.
Material herein is published according to the fair-use doctrine of U.S. copyright laws related to non-profit, educational institutions. Items attributed to sources other than the Texas Real Estate Research Center at Texas A&M University should not be reprinted without permission of the original source. To send news items for consideration, e-mail Hayley Rieder Wiley. The Texas Real Estate Research Center is part of the Division of Academic and Strategic Collaborations at Texas A&M University in College Station - the heart of the Research Valley. 

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