| RECON for May 27, 2022 | RECON for May 27, 2022 | | | 2022-05-27T05:00:00Z | 2022-05-27T05:00:00Z |
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| Multiple mixed-use projects are underway around Texas. In today's RECON, we report on a 100,000-sf development in Leander and two projects in Houston each measuring 27 and 55 acres. Keep scrolling to read about these stories and more. (Rendering of Memorial Town Square in Houston from MetroNational.) |
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HOUSTON (Houston Business Journal) – Hines has topped out on the first phase of Levit Green, a 55-acre life sciences complex near the Texas Medical Center.
The five-story development houses 294,000 sf of laboratory and office space at 3131 Holcombe Blvd.
The project has 15.4- to 20-ft ceilings, a high-output HVAC system, and 100 percent redundant backup power system.
Amenities include a 5,800-sf fitness center, 3,500-sf café and restaurant, 7,000-sf conference center, and parking garage.
Harvey Builders is the general contractor. HOK designed the building.
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The Texas Real Estate Research Center will be closed Friday afternoon and all day Monday in observance of Memorial Day.
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LEANDER (Community Impact Newspaper) – Construction is underway on a 100,000-sf mixed-use property at 15101 Ronald Reagan Blvd.
Phase one includes 45,000 sf of retail space, 37,000 sf of office space, 6,000 sf of restaurant space, a 10,000-sf day care center, and 510 parking spaces.
The first phase will wrap up in spring 2023.
Phase two will add 60,000 sf for restaurants, retail, and office space. Construction begins in September 2023.
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HOUSTON (Houston Chronicle) – MetroNational will redevelop Memorial City Mall at Barryknoll Ln. and Gessner Rd.
The 27-acre open-air, mixed-use town center will be renamed Memorial Town Square.
It will include dozens of retail offerings, restaurants, up to 275 apartments, and 350,000 sf of office space. There will also be a 1,000-space parking garage.
Construction begins next year and will be complete in 2025.
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Looking for more real estate news? Our NewsTalk Texas feed has all the latest headlines. Here's a sample:
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GEORGETOWN (REBusiness Online) – Stonelake Capital Partners has broken ground on Georgetown Logistics Park, a 619,740-sf industrial project at 1800 Aviation Dr.
The development will consist of a 426,240-sf cross-dock building and two rear-load buildings measuring 123,200 and 70,300 sf.
Buildings will have 40-, 36- and 32-ft clear heights.
Powers Brown Architecture is designing the project.
Completion is slated for March 2023.
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 How does Texas’ employment rate compare with the national one? Our monthly Texas Employment Report tells you. In addition, it includes rankings of Texas metropolitan statistical areas and various industries. Read the latest edition here and subscribe to our email list to get notified when a new issue is released.
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DALLAS (Rosebriar Properties) – Baik Brands Inc. has signed a 104,000-sf lease at a distribution warehouse within Stemmons Crossroads.
The project is along Technology Blvd. near I-35.
Mercer Company and CBRE represented the tenant. The landlord, Rosebriar Properties, was internally represented.
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 Texas 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.
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HOUSTON (REBusiness Online) – Gaia Real Estate has sold a collection of five multifamily properties called the Copperfield Portfolio.
The properties, totaling 1,376 units, include pools, fitness centers, children's play areas, clubhouses, and laundry centers.
Gaia acquired the properties in 2015.
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AUSTIN (Connect CRE) – Woodbine Development has purchased the Driskill Hotel for $125 million.
Built in 1886, the 206,685-sf building was declared a national historic landmark in 1969.
Hyatt was the seller but will continue to manage it.
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| If not, click here to head to our website, where you can fill out this simple form for free. Once you do, the biggest headlines in Texas real estate will come straight to your inbox twice a week. Oh, and did we mention it's free? |
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| https://www.recenter.tamu.edu/news/recon/?Item=567 |
| RECON for May 24. 2022 | RECON for May 24. 2022 | | | 2022-05-24T05:00:00Z | 2022-05-24T05:00:00Z |
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| Did you know we offer a digital version of TG magazine? Read the Spring 2022 issue online now. Click here to subscribe to get notified when the digital version is made available. (Photo of blue petunias at The Gardens at Texas A&M University by Center Photographer JP Beato III.) |
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HOUSTON (Houston Business Journal) – DiesoMoss is building a mixed-use tower at 2120 Post Oak Blvd., north of the Galleria mall.
The 551,905-sf tower will house 100,000 sf of office space as well as 25,000 sf of retail and restaurant space. Amenities will include a rooftop pool and yoga and cycling rooms.
Northwind Group has provided a $26.1 million construction loan.
Ziegler Cooper Architects will design the building. Harvey Builders will be the general contractor.
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AUSTIN (REBusiness Online) – McCarthy Building Cos. has topped out the 52-bed Texas Children's Hospital North Austin Campus.
The facility will provide various services including neonatal intensive care, pediatric intensive care, postpartum care, diagnostic imaging, acute care, and urgent care.
Work started on the campus in July.
There will be a 170,000-sf outpatient building and a 1,200-space parking garage next door.
Completion is set for 2024.
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 The 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.
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HOUSTON (JLL) – One Park 10 Plaza, a 162,919-sf, eight-story office tower in the Energy Corridor, has been sold.
The property is part of the Park Ten Office Park, a 550-acre mixed-use, master-planned development.
One Park 10 Plaza includes a four-story parking garage on 3.27 acres.
JLL Capital Markets represented the seller, Accesso Partners LLC, and procured the buyer, Interra Capital Group.
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 Hungry 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.
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KILLEEN (Connect CRE) – Vista Pacific Inc. has acquired a 232-unit, Class B apartment complex at 1100 Willow Springs Rd.
Built in 1983, The Springs at 1100 was 98 percent occupied at the time of sale.
Amenities include a pool, dog park, and laundry facilities.
TMG represented the seller, Rhodium Capital Advisors.
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EL PASO (Connect CRE) – A logistics company has leased a 169,011-sf industrial building set for completion in July.
The building will have skylights, three-phase power, and a 135-ft truck court with space for 50 trailers and 163 cars.
EastGroup Properties developed the 12.61-acre site.
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 The 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.
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SAN MARCOS (San Marcos Corridor News) – NRP is developing 1800 Apartments, a 330-unit multifamily complex at 1800 Center Point Rd.
The 416,204-sf community will cost over $44 million.
Amenities will include a swimming pool, fitness center, business center, and children's activity room.
The project will involve both public lands and funds.
Groundbreaking is set for Dec. 19, 2022.
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DALLAS (Dallas Morning News) – StreetLights Residential is building a more than 20-story apartment tower in the $2.5 billion The Central mixed-use development on Haskell Ave.
The $109 million-plus tower will include 351 units plus retail space.
Opening is set for 2025.
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| https://www.recenter.tamu.edu/news/recon/?Item=566 |
| RECON for May 17, 2022 | RECON for May 17, 2022 | | | 2022-05-17T05:00:00Z | 2022-05-17T05:00:00Z |
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| Austin's quality of life and professional opportunities make it one of WalletHub's best cities in which to start a career. Keep reading today's RECON for the details on this story and more. (Photo from Center files.) |
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WASHINGTON (WalletHub) – Austin has ranked fourth on WalletHub's list of the best cities to start a career in 2022.
The Texas Capital ranked third in quality of life and eighth in professional opportunities. It was also third in highest monthly average salary when adjusted for cost of living.
Austin's ranking remains unchanged from 2021. Earlier this year, the city ranked fifth in top cities in which to find a job.
The rest of the top five cities are No. 1 Salt Lake City; No. 2 Orlando, Fla.; No. 3 Atlanta; and No. 5 Seattle.
To compile the rankings, WalletHub compared 182 cities across two key dimensions: professional opportunities and quality of life. The sample considers only city proper in each case and excludes cities in the surrounding metro area.
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HOUSTON (Houston Business Journal) – DeisoMoss is building a mixed-use tower at 2120 Post Oak Blvd., north of the Galleria mall.
The 551,905-sf tower will have 100,000 sf of office space as well as 25,000 sf of retail and restaurant space. Amenities will include a rooftop pool and yoga and cycling rooms.
Northwind Group has provided a $26.1 million construction loan.
Ziegler Cooper Architects will design the building and Harvey Builders will be the general contractor.
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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.
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AUSTIN (Multi-Housing News) – TruAmerica Multifamily has purchased a 230-unit, Class B apartment complex at 2302 E. William Cannon Dr.
Built in 2001, Canon Oaks has two-, three-, and four-bedroom units averaging 1,000 sf.
Amenities include a pool, fitness center, clubhouse, basketball court, and children's play area.
The seller was a partnership between Old Three Hundred Capital and Arrowmark Partners.
TruAmerica will renovate unit interiors units via a multimillion-dollar capital improvement program.
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Hungry 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.
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SAN ANTONIO (Multi-Housing News) – Federal Capital Partners and One Real Estate Investment have acquired The Summit, a 284-unit, Class B apartment complex at 1955 Lankspur Dr.
Built in 1984, the Summit has one-, two-, and three-bedroom units averaging 870 sf across two- and three-story buildings.
Amenities include a clubhouse, playground, dog park, and two swimming pools.
Berkadia represented the seller, Shippy Properties.
The Summit will undergo $5.1 million in renovations.
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| The Texas Real Estate Research Center has scores of videos available for free on YouTube. From podcasts to quarterly economic updates, get your fill of real estate content by visiting our channel. Subscribe and turn on notifications so you never miss an upload. |
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MIDLOTHIAN (Dallas Morning News) – Hillwood is building Crossroads Logistics Park, a 350-acre business park on US 67.
The one million-sf development will include four buildings valued at more than $60 million.
The city agreed to provide $5 million in incentives.
Designed by GSR Andrade Architects, the project will be complete early next year.
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 Searching 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.
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CANEY CITY (Marcus & Millichap) – Shiloh on the Lake RV Park, an 83-site recreational vehicle park, has been sold.
The property is at 14638 Travis Pkwy. on Cedar Creek Lake in Henderson County.
Marcus & Millichap represented the seller and procured the buyer, both private investors.
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WILMER (Dallas Morning News) – Stream Data Centers is planning a $50 million data center near I-45.
The 135,000-sf first phase starts this summer on a site south of Belt Line Rd.
Completion is set for next summer.
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| https://www.recenter.tamu.edu/news/recon/?Item=565 |
| RECON for May 13, 2022 | RECON for May 13, 2022 | | | 2022-05-13T05:00:00Z | 2022-05-13T05:00:00Z |
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| What's happening in today's RECON? Axiom Space starts on Houston headquarters, work begins on San Antonio hospital, Anna business park trades hands, and more. Keep reading for the details. (Photo of the Houston Spaceport from the Houston Airport System.) |
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HOUSTON (Houston Business Journal) – Axiom Space has broken ground on its headquarters at the Houston Spaceport.
The 22-acre Space Flight and Assembly Headquarters will be used to train private astronauts and for the production of the Axiom Station, the world’s first free-flying, internationally available, private space station.
The space station will be used for research manufacturing and commerce in low-earth orbit.
Completion of the campus is scheduled for 2023.
The project comes after the Axiom Mission 1 crew and SpaceX Dragon spacecraft completed its first mission to the International Space Center last month.
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PLANO (REBusiness Online) – A partnership between Centennial and Cawley Partners, as well as Waterfall Asset Management, has acquired the 1.4 million-sf Shops at Willow Bend.
Taubman originally developed the shopping center in 2001, which will be redeveloped under the new ownership.
Tenants include Neiman Marcus, Dillard's, Macy's, Crate & Barrel, Vineyard Vines, H&M, Anthropologie, Equinox, Crayola Experience, California Pizza Kitchen, Wetzel's Pretzels, and Great American Cookies.
The seller was Spinoso Real Estate Group.
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The Spring 2022 issue of TG magazine is now online. In this issue, read about:
- Texas' population boom,
- changes in POA rules,
- the Build Back Better Act,
- materials escalation clauses,
- emerging trends in real estate,
- interest rates and homebuying,
- the Great Resignation,
- urban land prices, and
- a question and answer on client rebates.
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HOUSTON (REBusiness Online) – CBRE has negotiated a 500,000-sf, full-building industrial lease at 5800 Mesa Dr.
Situated on 95 acres, the property has 330 terminal doors, a 46,000-sf maintenance facility, and 25 acres of secured trailer parking.
CBRE represented the tenant, a logistics firm. NAI Partners and Burr & Temkin represented the landlord, Dayton Street Partners.
The Chicago-based landlord acquired the property in January 2021 and implemented a $25 million value-add program.
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HUTTO (Austin Business Journal) – Centerpoint Properties Trust has acquired a two-building, 361,467-sf industrial park at 1050 and 1070 New Technology Blvd.
The sellers were Ledo Capital Group LLC and St. Clair Commercial Real Estate.
The property serves several tenants including Western Industries, Three Way Logistics, and Barnsco.
Features include a 200-ft truck court, 536 parking spaces, and fast-response sprinkler system.
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Looking for more real estate news? Our NewsTalk Texas feed has all the latest headlines. Here's a sample:
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SAN ANTONIO (San Antonio Business Journal) – Methodist Healthcare will develop Methodist Hospital-Landmark, a 150,000-sf hospital near the University of Texas at San Antonio.
This hospital will be on the former site of the Forest Park Medical Center, which closed in 2015.
The $50 million project will house 50-plus beds and emergency facilities.
It will be complete in 2023.
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Texas 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.
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ANNA (REBusiness Online) – PC5 Properties has acquired Anna Business Park, an 82-acre industrial development.
The site, located at the northeast corner of the Collin County Outer Loop and SH 5, can support more than three million sf of industrial development.
The sellers were the Anna Economic Development Corp. and the Anna Community Development Corp.
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AUSTIN (JLL Capital Markets) – Arc Capital Partners has acquired Westview, a 100,166-sf office building at 316 W. 12th St.
The property includes an on-site café, conference room, fitness center, bike lockers, and rooftop terrace.
It was recently renovated into a LEED Gold property and is 93 percent leased.
JLL Capital Partners represented the seller, Prescott Group, and procured the buyer.
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| If not, click here to head to our website, where you can fill out this simple form for free. Once you do, the biggest headlines in Texas real estate will come straight to your inbox twice a week. Oh, and did we mention it's free? |
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| https://www.recenter.tamu.edu/news/recon/?Item=564 |
| RECON for May 10, 2022 | RECON for May 10, 2022 | | | 2022-05-10T05:00:00Z | 2022-05-10T05:00:00Z |
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| The first quarter saw a continued uptick in both the median sales price and first-quartile sales price for Texas. Meanwhile, following years of generally sluggish growth, family income experienced robust growth. However, as long as home prices continue to rise faster than incomes, purchase affordability will continue to diminish. Read our latest Texas Housing Affordability Outlook report for more. The Center has also released reports for Houston, San Antonio, Austin, and DFW. (Photo from Center files.) |
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COLLEGE STATION (Texas Real Estate Research Center) – Price pressure for raw materials showed signs of easing in April, according to the latest Texas Manufactured Housing Survey (TMHS). While prices continued to increase, the raw-materials index marked its largest monthly deceleration since July 2020, and manufacturers believe that trend may continue.
"The slowdown in price appreciation for raw materials is a welcomed sign," said Dr. Harold Hunt, research economist at the Texas Real Estate Research Center (TRERC) at Texas A&M University, "but the Bureau of Labor Statistics’ Producer Price Index (PPI) continues to trend above double-digit growth. The PPI is released with a one-month lag, so we’ll have to wait until next month to see if the rest of the economy experienced price relief during April."
The root of the manufactured-housing’s price improvement is unclear, and supply-chain disruptions persisted for the eighth straight month. Production lines, however, continued to pump out new homes and chip away at backlogs.
While demand remained robust, the combination of supply-side challenges, growing uncertainty, and impending regulatory burdens weighed on the industry’s outlook and overall optimism.
"The Department of Energy’s consideration of updating efficiency standards and its preference for the most stringent changes tempered manufacturers’ expectations," said Rob Ripperda, vice president of operations for the Texas Manufactured Housing Association.
The TMHS regulatory-burden index reflected these concerns with a positive reading in 13 of the past 14 months.
"Other headwinds include higher mortgage interest rates for both real and personal property as well as a hit to housing manufacturers’ stock prices," said Ripperda.
The industry anticipates a slowdown in capital expenditures and hiring activity through the summer to adjust to these obstacles. While Texas’ manufactured-housing outlook remains positive, the health and resilience of the broader economy remains a critical factor moving forward.
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CELINA (REBusiness Online) – Centurion American Development Group has broken ground on Legacy Hills, a 3,200-acre mixed-use, master-planned development.
The project will be at the corner of Legacy Dr. and Celina Pkwy.
Plans include:
- 7,000 single-family homes across seven subdivisions;
- 4,100 multifamily units;
- 100 acres of commercial space with retail, restaurant, and entertainment uses;
- two 12-acre schools for the Celina Independent School District;
- two seven-acre tracts for fire and police stations;
- hiking and biking trails;
- 27-acre sports park; and
- a champion golf course.
Each residential subdivision will have its own amenity center. They will each be built by different builders, which so far include Lennar and D.R. Horton.
Centurion partnered with Trez Capital on the project, which was first announced in August 2021.
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The 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.
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DALLAS (REBusiness Online) – Acadia Realty Trust has purchased a portfolio of 15 single-story retail buildings totaling 124,000 sf in the Knox-Henderson neighborhood.
The $85.4 million sale also include 4.3 acres that can support up to 160,000 sf of new development.
Tenants include Sprouts Farmers Market, Warby Parker, Bonobos, CorePower Yoga, and Heyday Skincare.
JLL represented the seller, a partnership between CIM Group and Open Realty Advisors.
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Hungry 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.
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HOUSTON (Realty News Report) – Preparation has started on the first phase of a 400-acre residential project at City Place, a 2,000-acre mixed-use project.
Phase 1 will include 520 single-family homes across 160 acres.
The residential portion is a joint venture of CDC Houston and DMB Development.
City Place, formerly called Springwoods Village, is at the intersection of the Grand Pkwy., Hardy Toll Rd., and I-45.
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| Did you know you can get notified every time one of our new economic reports is released? Check out our email notification feature to get the latest economic data sent directly to your email inbox for free. |
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GEORGETOWN (Connect CRE) – H-E-B has started work on a 121,000-sf store at 1010 W. University Ave. in the Wolf Lakes Village Neighborhood.
The store will include a two-story True Texas BBQ restaurant, two-lane drive-up pharmacy, bakery, and gas station.
Opening is set for 2023.
The location will replace a 67,000-sf store at 1100 S. I-35.
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The 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.
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MISSION (REBusiness Online) – Killam Development has broken ground on Sharyland Business Park, a 175-acre industrial development.
The 15-tract development will span up to three million sf.
Sharyland Business Park will be within a larger master-planned community that extends into nearby McAllen.
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MANOR (Austin Business Journal) – Falcon Structures is adding roughly 150,000 sf to its existing 250,000 sf facility at 7717 Gilbert Rd.
When complete this summer, the Falcon will be able to triple its output and double its workforce of 90.
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| https://www.recenter.tamu.edu/news/recon/?Item=563 |
