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RECON for February 26, 2021RECON for February 26, 20212021-02-26T06:00:00Z2021-02-26T06:00:00Z
Past due mortgage
After jumping in the first quarter, Texas past due mortgages trended downward through the rest of 2020. Keep reading today's RECON for the details on this story and more. (Photo from Center files.)
February 26, 2021

Texas mortgage delinquencies a mixed bag in 4Q2020

AUS​TIN (Mortgage Bankers Association) – ​Over 264,900 Texas mortgages were past due in fourth quarter 2020, according to data from the Mortgage Bankers Association. Of those mortgages, around 14,700 are 90 days past due. 

The overall delinquency rate had jumped in first quarter 2020 before trending downward the rest of the year. 

The number of foreclosures started and housing inventory also trended downward last year. 

Mortgages 30-59 and 60-89 days past due fell from third quarter 2020. In contrast, mortgages 90 days or more past due increased because this data set includes mortgages that are in forbearance. 

"We don’t know the number of households in forbearance that will be able to make mortgage payments once forbearance ends," said Texas Real Estate Research Center Research Economist Dr. Luis Torres. "If they cannot pay their mortgages going forward, and given the low months of inventory of homes available for sale, they would be able to sell their homes quickly with a gain while avoiding foreclosure procedures. 

"This is very different than the housing boom and bust of 2006-07, when home prices fell and households found themselves underwater on their mortgages."

Nationally, the mortgage delinquency rate fell last quarter to 6.73 percent. 
Helping Texans make the best real estate decisions since 1971

Winter storm disaster aid available in 108 counties

AUSTIN (Texas Workforce Commission) – The Texas Workforce Commission (TWC) is accepting applications for Disaster Unemployment Assistance ​(DUA) as a result of the February winter storm. 

Workers who lost their jobs and self-employed individuals who have been unable to work due to damage sustained from the storm may be eligible. The program is open to Texans in 108 counties.

To be eligible, an individual must:
  • have applied for and used all regular unemployment benefits, including Pandemic Emergency Unemployment Compensation and Extended Benefits, from any state, or must not qualify for unemployment benefits;
  • have worked or been self-employed or was scheduled to begin work or self-employment in the disaster area;
  • no longer work or perform services because of physical damage or destruction to the place of employment as a direct result of the disaster;
  • establish that the work or self-employment they can no longer perform was their primary source of income;
  • not be able to perform work or self-employment because of an injury as a direct result of the disaster;
  • have become the breadwinner or major support of a household because of the death of the head of household; or
  • have been unable to reach their job or self-employment location because they must travel through the affected area and are prevented from doing so by the disaster.​
Applications for DUA must be submitted by March 26, 2021. Individuals may apply through Unemployment Benefit Services or by calling a TWC Tele-Center between 7 a.m. and 7 p.m. seven days a week at 800-939-6631.​

Individuals should specify that their applications are related to the damage caused by severe storms.

Applicants must mail in or fax all required documentation within 21 days from the date of the application. 
Cartoon people arguing over a house on a stack of money
Texas' property tax system includes a number of options available to property owners unhappy with their property tax appraisal. However, taxpayers should be aware of pitfalls in the protest process. Read "Dost Thou Protest Too Much? Options for Arguing Property Tax Appraisal." 

Crescent Real Estate to build $250M mixed-use project

​FORT WORTH (Dallas Morning News) – Crescent Real Estate is planning a $250 million mixed-use project called Museum Place. 

The project on Camp Bowie Blvd. will include a 200-room luxury hotel, 160,000-sf office building, and 175 luxury residential units.

OZ Architecture is the designer. 

Opening is scheduled for 2023.
Looking for more real estate news? Our NewsTalk Texas feed has all the latest headlines. Here's a sample:

Dynamic Glass Industrial Park trades in sale-leaseback

​HOUSTON (Colliers International) –  Dynamic Glass Industrial Park has been sold to Gordon Creekside in a sale-leaseback​ deal.

The seller, Dynamic Glass, has signed a 15-year lease with the buyer. 

The four-building, 160,778-sf complex is on nine acres at 9419 Windfern and 9320 Zaka Roads. ​​

Colliers International represented the seller. TCI Properties rerpesented the buyer. 
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. 

Meritage Homes planning 700 homes in Cibolo Hills

​FORT WORTH (Dallas Morning News) – Meritage Homes is partnering with Trophy Signature Homes to build a residential community off US 287 near Eagle Mountain Lake.

Called Cibolo Hills, the co​mmunity will have 700 houses that start from the $280,000s and range from 1,394 to 3,050 sf.

The community will include parks, walking trails, open spaces, and community center with a pool.

Cacique Food planning $88M manufacturing plant 

​AMARILLO (News Channel 10) – Cacique Food is building an $88 million, 180,000-sf manufacturing plant on 55 acres near Farmers Ave. and S. Georgia St. 

The city will discuss financial incentives at a hearing in late March.
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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. The Texas Real Estate Research Center is part of Mays Business School at Texas A&M University in College Station - the heart of the Research Valley.



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RECON for 2-23-2021RECON for 2-23-20212021-02-23T06:00:00Z2021-02-23T06:00:00Z
Home in field with bluebonnets and indian paintbrushes
Texas' rural land market posted strong sales in the latter part of 2020. Sales for small properties were especially high, possibly boosted by concerns over COVID-19 contagion and civil unrest in urban areas. For the full story, read "See Ya Later, Next-Door Neighbor: Urban Buyers Stampede to Rural Texas" by Center Research Economist Dr. Charles Gilliland. (Photo from Center files.)
February 23, 2021

Texas layoffs improve, Texans still struggling to find jobs

​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​COLLEGE STATION (Texas Real Estate Research Center) – ​Initial unemployment insurance claims in Texas decreased to 34,700 the week ending Feb. 13, bringing the total since​ March 21 to 4.41 mil​lion, according to data from the U.S. Department of Labor (DOL). 

However, Texas' unemployment claims are still two times greater than pre-pandemic levels. 

Continuing unemployment claims increased for the second consecutive week to 352,900 the week ending Feb. 6. 

"Layoffs continue to slow, but laid-off workers are struggling to find job opportunities," said Texas Real Estate Research Center Research Economist Dr. Luis Torres. 

The number of workers receiving benefits through the pandemic unemployment assistance program, which is open to gig workers and others who don’t typically receive benefits, fell the week ending Feb. 13.

​U.S. initial claims increased to 861,900 the week ending Feb. 13, bringing the 48-week total to 78.9 million. 

According to Torres, the increase in national claims the last two weeks indicates employment continues to struggle to reclaim traction.  

Fewer people in all of Texas' major and border metros filed initial unemployment claims the week ending Feb. 6. 

Using data from the DOL and the Employment and Training Administration, the Center has estimate​d unemployment claims for Texas' major and border metros since March 21:
  • Houston-The Woodlands-Sugar Land, 1.02 million claims;
  • Dallas-Fort Worth-Arlington, 971,800 claims;
  • San Antonio-New Braunfels, 300,200 claims;
  • Austin-Round Rock, 251,500 claims;
  • McAllen-Edinburg-Mission, 122,800 claims;
  • El Paso, 105,800 claims;
  • Brownsville-Harlingen, 54,100 claims; and
  • Laredo, 30,800 claims.​
The retail trade sector registered the highest number of initial claims the week ending Feb. 6. The sector was followed by administrative​/support/waste management/remediation services, health care and social assistance, construction, and accommodation and food services.
Weekly leading indicatorThe Texas Weekly Leading Index increased for a second straight week. The index's overall trend indicates the state's economy is on the path to recovery and that it has picked up momentum after slowing the previous two months. The recovery's pace continues to be hindered by the incomplete reopening of the economy and future uncertainty regarding the pandemic. Read our latest weekly report for more. Subscribe to our email list to get notified when the report is updated.

Black Creek, Archway developing two million-sf business park

​DALLAS (Dallas Morning News) – Black Creek Group has partnered with Archway Properties to purchase 165 acres along I-20 for a new business park.

Located between Dallas Ave. and Bonnie View Rd., the project will have two warehouses, each spanning one million sf.

Transwestern brokered the property purchases for Archway Properties, and CBRE negotiated the development agreement. 

The first phase will start in third quarter 2021.
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. 

Student housing underway near Tarleton

​​​STEPHENVILLE (REBusiness Online) – Spectra Student Housing is building Fireside District, a 180-bed student housing project near Tarleton State University.

​The 66-unit project will have eight three-story buildings with one-, two-, and four-bedroom floor plans. 

Amenities will include a media production room, computer center, private study areas, gaming area, bike storage, pool with a sundeck, outdoor social lounge, and grilling area. 

Delivery is set for fall 2021. 
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. 

235K-sf SA industrial property sold

​S​​AN ANTONIO (San Antonio Business Journal) – AEW Capital Management LP has sold Lanark Distribution Center, a two-building industrial property at 610 Lanark Drive, to an affiliate of Albany Road Real Estate Partners.  

The larger building spans 147,420 sf, while the smaller building spans 88,044 sf. 

The center was 97 percent leased at the time of sale. 

Stream Realty Partners represented the seller.
Aerial view of Texas homesThe Texas housing market was off to a solid start at the beginning of 2020 as mortgage interest rates declined. Sales activity plummeted in March and April, however, due to the emergence of COVID-19 and a mandated economic shutdown across the state. Nevertheless, homebuying demand accelerated during the summer for those less affected by the pandemic as remote-work-and-school spaces prompted the desire for additional space in the house, interest rates continued to fall, and more millennials entered the housing market. Read the latest Texas Housing Insight for more. 

Christus Health snags 4.2 acres in Irving for new HQ 

​​​​​​IRVING (Connect Media) – Christus Health has purchased 4.2 acres at the corner of N. O'Connor and W. Las Colinas Boulevards for a new corporate headquarters. 

The site, previously owned by State Bank of Texas, will include a 13- to 15-story, 400,000-sf building and ten-story parking garage. 

Fidelis Healthcare Partners is the developer. BOKA Powell is the architect.  

Completion is slated for 2023. 
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StoryBuilt developing 116-home community

​​AUSTIN (Austin Business Journal) – StoryBuilt is developing George, a 116-home development at 2211 E. M. Franklin Ave. 

The property will have 80 one- ​or two-bedroom townhomes and 36 two- or three-bedroom single-family homes. 

Amenities will include a pool and green space. 

Construction will be complete in late 2022. 
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.

Houston group starts on 355-unit multifamily project

​​SAN ANTONIO (San Antonio Business Journal) – Houston-based The Morgan Group Inc. is breaking ground on a 355-unit apartment complex in the Longhorn Quarry master-planned community. 

The 14-acre apartment complex along Wurzbach Pkwy. will span 14 buildings. It will have a walking trail, dog park, pool, and barbecue area.

Construction begins this spring and will be completed by early 2023. 

Davies Collaborative is the designer. MP Studio is the landscape architect. 
Helping Texans make the best real estate decisions since 1971

601K-sf distribution facility under new ownership

​​PASADENA (CenterPoint Properties) – CenterPoint Properties has purchased a 601,261-sf industrial building at 3507 Pasadena Fwy. 

The rail-served distribution facility features a 32-ft clear-height, ESFR sprinkler syst​em, 62 dock-high and 21 rail doors, six rail spurs, outside storage, and trailer parking.
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 © 2021, 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. The Texas Real Estate Research Center is part of Mays Business School at Texas A&M University in College Station - the heart of the Research Valley.

https://www.recenter.tamu.edu/news/recon/?Item=449
RECON for February 12, 2021RECON for February 12, 20212021-02-12T06:00:00Z2021-02-12T06:00:00Z
Houston subdivision
Looking for the biggest headlines in Texas real estate? We've got you covered. In today's RECON, read about Houston's housing market, statewide unemployment claims, an Austin mixed-use redevelopment, and more. (Photo from Center files.)
February 12, 2021

Texas' initial jobless claims drop considerably

COLLEGE STATION (Texas Real Estate Research Center) – ​Initial unemployment insurance claims in Texas decreased to 38,100 the week ending Feb. 6, continuing a four-week downward trend. 

This is the largest weekly decline since the week ending Sept. 12, 2020. 

"The solid decl​​ine in initial claims is a sign that layoffs have started to slow," said Texas Real Estate Research Center Research Economist Dr. Luis Torres. ​

The total unemployment claims filed since​ March 21, 2020,​ is 4.36 million, according to data from the U.S. Department​ of Labor (DOL). 

Continuing unemployment claims increased to​ 337,000 the week ending Jan. 30, indicating that laid off workers are struggling to find job opportunities.  

The number of workers receiving benefits through the pandemic unemployment assistance program, which is open to gig workers and others who don’t typically receive benefits, fell the week ending Feb. 6.​

​Last week, U.S. initial claims decreased to 793,300, bringing the 47-week total to 78 million. 

Fewer people in Texas' major and border metros filed new unemployment claims the week ending Jan. 30. 

Using data from the DOL and the Employment ​and Training Administration, the Center has estimate​d unemployment claims for Texas' major and border metros since March 21:
  • Houston-The Woodlands-Sugar Land, 1.01 million claims;
  • ​​Dallas-Fort Worth-Arlington, 961,000 claims;
  • San Antonio-New Braunfels, 297,500 claims;
  • Austin-Round Rock, 249,300 claims;
  • McAllen-Edinburg-Mission, 121,500​ claims;
  • El Paso, 104,800 claims;
  • Brownsville-Harlingen, 53,500 claims; and
  • ​​Laredo, 30,5​00 claims.​​
​Retail trade registered the highest number of initial claims the week ending Jan. 30. That sector was followed by administrative/support/waste management/remediation services, healthcare and social assistance, construction, and ​accommodation and food services.
Helping Texans make the best real estate decisions since 1971.

Houston homebuyers active in January despite low supply

​​​​HOUSTON (Houston Association of Realtors) – Even as local housing supply continues to shrink, homebuyers were still active in January, buying 6,088 single-family homes and extending the breakneck momentum with which 2020 ended. 

According to the Houston Association of Realtors (HAR), sales saw a 27.7 percent increase from January 2020 and eight straight months of positive sales.

"The Houston real estate market carried the momentum of 2020 into the new year; however, we believe that the current pace of sales is unsustainable without an infusion of new listings into the marketplace," said HAR Chairman Richard Miranda. “It’s our hope that as we move out of the winter months, more sellers will begin to put their homes on the market and help boost inventory to pre-pandemic levels."

The single-family home median price rose 12.1 percent to $263,500, while the average price increased 12.5 percent to $326,063. Both figures are record highs for a January. 

Sales of all property types totaled 7,519, up 27.5 percent from January 2020. Total dollar volume surged 42.8 percent to $2.3 billion. 

The lease market cooled in September with declines in both single-family housing and townhouse/condo leases.

Sales for homes priced at $750,000 and up leapt 73.9 percent over the year. That was followed by the $500,000 to $750,000 housing segment, which jumped 70.4 percent year over year. 

Homes between $250,000 and $500,000—which comprise the market’s biggest share of sales—also increased 61.9 percent.
Podcast 454
Despite the pandemic, the Texas housing market saw strong sales growth in 2020. However, low housing supply could hamper further growth. Center Senior Data Analyst Joshua Roberson joins us on today's podcast to look at where the market is heading in 2021. Take a listen.

Another Amazon facility trades hands

KATY (Houston Business Journal) – An affiliate of Walton St. Capital has purchased the Amazon Clay 99 Sort Center at 22525 Clay Rd.

The 805,601-sf cros​s-dock asset sits on 54.15 a​​cres. It has​​​​ tilt-wall construction, 40-ft c​​lear heights, 190-ft truck court with vehicle and trailer parking, 190 dock-high doors, ESFR fire protection, and LED lighting. 

Amazon.com Inc. has leased the project for ten years. 

Indianapolis-based Duke Realty, which developed the property, put the asset on the market shortly before it opened in October. ​

JLL brokered the deal. ​​
Looking for more real estate news? Our NewsTalk Texas feed has all the latest headlines. Here's a sample:

Health-South rehab site becoming mixed-use development 

AUSTIN (REBusiness Online) – Aspen Heights Partners is transforming the site of the former Health-South rehabilitation facility at 1215 Red River St. into a mixed-use development. 

The development will have​​ a 36-story residential tower, 15-story office building, half-acre elevated park, and over 25,000 sf of retail space. 

Design firm STG Design, engineering firm Civilitude, and landscape architecture firm Studio Balcones are on the project team.
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. 

$43M apartments planned at SoGood mixed-use development

DALLAS (Dallas Morning News) – Corsair Ventures is planning a 266-unit rental community at 2010 S. Cesar Chavez, south of I-30.

Called The Chole at SoGood, the 384,000-sf multifamily development will include a parking garage, c​​​lub, pool, and courtyards.

The $43 million apartment project will be the first phase in Hoque Global’s 15-acre SoGood mixed-use development. 

Construction starts later this year.
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Denton logistics firm moving into new industrial park 

​​​DENTON (Dallas Morning News) – Locally based Elite Materials & Logistics Solutions is leasing 398,442 sf in the Denton Crossing @ I-35 industrial park at 900 S. Western Blvd. 

The logistics firm took​ the bulk of the first phase of the two-building speculative warehouse project.

Ironwood Realty Partners and Scannell Properties developed the park.

9.7-acre Port Arthur multifamily sold

​​​​​PORT ARTHUR (REBusiness Online) – Normandy Apartments, a 143-unit multifamily asset, has been sold.

The property sits on​ 9.7 acres at​​​ 3800 Normandy Ave.

Marcus & Millichap represented the seller and procured the buyer.
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Copyright © 2021, 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. The Texas Real Estate Research Center is part of Mays Business School at Texas A&M University in College Station - the heart of the Research Valley.

https://www.recenter.tamu.edu/news/recon/?Item=448
RECON for February 9, 2021RECON for February 9, 20212021-02-09T06:00:00Z2021-02-09T06:00:00Z
Aerial view of homes being built
Despite the onset of a pandemic, 2020 was a phenomenal year for Texas' housing market. Fourth quarter sales expanded after the third-quarter boom, and year-end sales capped off at 9.4 percent over 2019, which was already a record year. However, despite strong demographics, low housing supply could hamper growth in 2021. Read "How Long Can It Last? Strong 2020 Housing Market Moves into Uncertain 2021" for more.
February 9, 2021

Texas’ manufactured housing starts 2021 strong after best December in ten years

​​​COLLEGE STATION ​ (Texas Real Estate Research Center) ​​​– Activity in Texas’ manufactured housing sector ramped up in January with accelerating production and sales, according to the latest Texas Manufactured Housing Survey (TMHS). These gains built off of a particularly strong fourth quarter.

“Manufactured housing plants in Texas had their best December in over a decade and finished the year shipping 5.4 percent more homes than they did in 2019 despite COVID-19 disruptions,” said Rob Ripperda, vice president of operations for the Texas Manufactured Housing Association (TMHA).

General business activity is expected to accelerate further heading into the spring selling season.

"The TMHS participating plants are reporting further increases in production capacity, which is good news as demand continues to shrink the available inventory on retail lots across the state," Ripperda said.

Increased demand has been met with higher prices for finished homes, but inflationary pressure on the cost of raw materials and labor kept profit margins at bay. Supply-chain disruptions continued to plague the manufacturing process, and recent hopes of improvements in this area dwindled in January. 

"Even with ongoing supply-chain disruptions, the manufactured housing industry continues to surprise us on the upside," said Dr. Harold Hunt, research economist at the Texas Real Estate Research Center at Texas A&M University.

Manufacturers expressed optimism about the next six months despite rising uncertainty, and they expanded payrolls accordingly.

The Center and TMHA have partnered to produce a monthly survey of business conditions and expectations surrounding the manufactured housing industry.
Contracts Course Information You Need To Know As of February 1, 2021 sales agents and brokers are required to complete at least three hours in contract-related coursework as part of the 18 hours of continuing education (CE) required to renew a license or activate a license.  License holders within their renewal period can use the “View Renewal Education Information” button within the license holder lookup to confirm if this course requirement has been completed.  License holders needing to find a qualified contracts courses can search on the TREC website using the “contracts” filter on the “Approved Real Estate CE Course List.”    If you have questions about a contract course you have taken, please contact a customer relations specialist at information@trec.texas.gov.

Center advisory committee welcomes new members

​​​AUSTIN​ (Texas Real Estate Research Center) – Governor Greg Abbott has appointed three new members to the Texas Real Estate Research Center's Advisory Committee.

Vicki Fullerton of The Woodlands and Becky Vajdak of Temple will serve terms expiring Jan. 31, 2025. Doug Foster of Lockhart will serve until Jan. 31, 202​7.  

Their appointments replace Alvin Collins of Andrews, Doug Roberts of Austin, and Clark Welder of Beeville, whose terms have expired.​

The governor reappointed W. Douglas Jennings of Fort Worth, Besa Martin of Boerne, and Ted Nelson of The Woodlands to the committee.

The committee has three public members and one each representing residential, commercial, and industrial properties. Others represent real estate brokerage, construction, and finance. Each is appointed by the governor for a six-year term. The Texas Real Estate Commission is represented by an ex-officio member. 

The committee approves the Center's research plans and reviews findings. Members also approve the Center's proposed budget before it is submitted to the university.​​
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. 

Two-building warehouse project coming to Grand Prairie

​​​​​GRAND PRAIRIE (Dallas Morning News) – Ironwood Realty Partners is developing The Remington I-30, a two-building industrial project north of I-30 off S. Belt Line Rd. 

The first building will span 240,000 ​sf on Wildlife Blvd. It opens later this year. 

A second industrial building will bring the park to 650,000 sf. 

Alliance Architects designed the project. Savills Inc. is leasing the business park.
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. 

Katy multifamily asset trades hands

​​​KATY (REBusiness Online) – Locally based Venterra Realty has purchased Elation at Grandway West, a 324-unit apartment community at 23010 Franz Rd. 

The property has one- and two-bedroom units ranging from 671 to 1,116 sf. 

Amenities include three outdoor grilling areas, two pools, dog park, pergolas with swings, yoga and spin studio, fire pits, and bocce ball court. 

CBRE brokered the deal. 
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216-unit single-family rental project set for The Colony 

​​​​​AUSTIN (REBusiness Online) – Avanta Residential is developing a 216-unit single-family rental home community in The Colony, a 2,300-acre master-planned community.​​​

Amenities will include a clubh​ouse, pool, playgrounds, and walking trails with fitness stations. 

Delivery is set for 2022. 

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.

Another warehouse planned for Exeter Buckner

​​​DALLAS (Dallas Morning News) – Exeter Property Group is developing Exeter Buckner Building 5, a 100,000-sf warehouse in its business park off Buckner Blvd. 

The Exeter Buckner business park already has 1.3 million sf of buildings.

Alliance Architects designed the building, which opens this summer.
Helping Texans make the best real estate decisions since 1971

247K-sf warehouse slated for Pflugerville 

​​​PFLUGERVILLE (Austin Business Journal) – Lincoln Property Co. is developing a warehouse on 15.5 acres within the 130 Commerce Center master-planned commercial development. 

The project breaks ground this summer and will be complete in March 2022. 

Alliance Architects is the architect. JLL will handle leasing.
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 © 2021, 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. The Texas Real Estate Research Center is part of Mays Business School at Texas A&M University in College Station - the heart of the Research Valley.

https://www.recenter.tamu.edu/news/recon/?Item=447
RECON for February 5, 2021RECON for February 5, 20212021-02-05T06:00:00Z2021-02-05T06:00:00Z
According to an NAIOP study, commercial real estate development contributed over $65 billion to Texas' economy last year in the face of the pandemic. To read this story and more, keep scrolling. (Photo from Center files.)
February 5, 2021

Texas top state for commercial development impact

DALLAS (Dallas Morning News) – Despite the pandemic, commercial real estate development contributed more than $65 billion to the Texas economy in 2020. 

That’s more than any other U.S. state, according to an NAIOP study. 

The sector’s contribution to the state economy was up from the estimated $54 billion in 2019 despite the pandemic's economic drag. 

Commercial development activities supported more than 428,000 Texas jobs last year, up from 380,000 the year before.

In 2020, nationwide development of projects—including office, industrial, warehouse, and retail—​contributed $1.01 trillion to the U.S. economy and generated $338.1 billion in personal income.
January 2021 Recap
The Texas Real Estate Research Center entered 2021 going full steam ahead. To see what we were up to in January, read Total RECall. Subscribe to email notifications to get the recap sent to you each month. 

Texas unemployment claims continue to improve

​​​​​​​COLLEGE STATION (Texas Real Estate Research Center) – ​​Texas' initial unemployment claims decreased for the third straight week to 44,600 the week ending Jan. 30. This brings the total since​​ March 21 to 4.3 million, ​​according to data from the U.S. Department of Labor (DOL).

"The fall in initial claims for the third straight week is likely a sign that layoffs have started to slow following an increase in early January, but they still remain elevated compared to pre-pandemic levels​​​," said Texas Real Estate Research Center Research Economist Dr. Luis Torres.​ 

​The number of Texans who continue to claim unemployment insurance decreased for the second consecutive week to 332,500 the week ending Jan. 23​. 

"The  pandemic continues to be the underlying force moving the labor force, but the downward trend in the number of new COVID-19 cases is an encouraging sign," said Torres.

The number of laid-off workers receiving benefits through the pandemic unemployment assistance program, which is open to gig workers, freelancers, and self-employed workers who don’t typically receive benefits, increased the week ending Jan. 30.

​Last week, new national unemployment claims decreased to 779,000. This brings the 46-week total to 77.2 million.
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New-home community planned for Magnolia

MAGNOLIA (Realty News Report) – Empire Continental Land has purchased 221 acres along FM 1488 Iron Ore Rd. for a new-home community. 

The project, which will break ground in 2022, will have more than 700 homes. 

NewQuest Properties represented the seller, MAG Partners LLC. 

The project will be Empire's sixth in the Houston area and eight overall in Texas. ​​
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Diamond Green Diesel gets green light

​​​​PORT ARTHUR (Connect Media) – ​A joint venture between Darling and Valero is developing Dia​mond Green Diesel, a renewable diesel production facility at Valero's local refinery. 

The $1.45 billion facility will produce 470 million gallons of renewable diesel. 

It will open in the second half of 2023. ​
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Fidelis acquires 355K-sf Overton Park Plaza

​​FORT WORTH (Dallas Morning News) – Fidelis Realty Partners has purchased Overton Park Plaza, a 355,000-sf shopping center on S. Hulen St.

Built in 2008, the asset is a​nchored b​​y Spr​outs Farmers Market, T.J.Maxx, Buy Buy Baby, PetSmart, and HomeGoods.

The building was acquired from Weingarten Realty Investors as part of a swap of assets. 

JLL Capital Markets arranged the transaction.
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Greystone developing Symphony Square mixed-use tower 

​​​​AUSTIN (Austin Business Journal) – Greystone Real Estate Partners is developing Symphony Square, a 30-story mixed-use tower at 1104 Sabine St. 

The tower will have 385 apartments, 129,4​84 sf of office space, 52,327 sf of co-living space, and 9,930 sf of restaurant and retail space. 

Construction starts this month and will be completed by January 2024.

Single tenant inks 124K-sf industrial lease

​​​EL PASO (REBusiness Online) – CBRE has negotiated a 123,966-sf industrial lease at 9541 Joe Rodriguez Dr.

Equity Industrial Partners and Raith Capital Partners broke ground on the Class A facility in March. Construction will be completed​​​​ in December. 
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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. The Texas Real Estate Research Center is part of Mays Business School at Texas A&M University in College Station - the heart of the Research Valley.

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