| RECON for October 22, 2021 | RECON for October 22, 2021 | | | 2021-10-22T05:00:00Z | 2021-10-22T05:00:00Z |
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| Looking for the biggest news in Texas real estate? Today's RECON has the scoop. Harris County the top Texas destination for Californians; master-planned community coming to Castroville; Plano named the best place to live in Texas, and more. Keep reading for the details. (Photo from Center files.) |
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SANTA BARBARA, Calif. (StorageCafé) – From 2010 to 2019, almost 690,000 Californians relocated to Texas, according to a StorageCafé study.
Harris County was the top destination for Golden State expatriates, with over 8,400 Californians relocating there. Most of the move-ins came from Los Angeles.
The median home price was 57 percent cheaper in Harris County than in Los Angeles County, a $482,010 price difference. The median home was also 577 sf larger.
Californians have chosen Texas primarily for the extra living space, lower cost of housing, and competitive job opportunities.
The rest of the top ten Texas counties for Californians last decade were:
- Dallas County, 7,923 move-ins;
- Travis County, 6,725;
- Tarrant County, 6,623;
- Bexar County, 5,340;
- Collin County, 5,294;
- Denton County, 4,028;
- Williamson County; 2,877;
- El Paso County, 2,521; and
- Bell County, 1,727.
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Local politicians and existing voters sometimes balk at the need for new tax revenue required to pay for new development. Impact fees offer one potential solution. Read our latest report for the details.
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FRANKLIN, Tenn. (Livability.com) – Plano has ranked 17th on Livability.com's list of the best places to live in 2021.
The North Texas city had particularly high scores in remote readiness (81 points) and civics (75). Plano has a population of 302,806.
The top five cities according to the rankings were Madison, Wis.; Ann Arbor, Mich.; Overland Park, Kan.; Frederick, Md.; and Charlottesville, Va.
To determine the rankings, Livability.com analyzed more than 1,000 small to mid-sized cities while factoring in safety, affordability, economic stability, outdoor recreation, accessibility, community engagement, and more.
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CYPRESS (Realty News Report) – Howard Hughes is building Parkland Row, a new neighborhood in the Bridgeland master-planned community.
The neighborhood will have 288 homesites around a centralized park and lake near the intersection of Fry and Tuckerton Roads. Homes will range from 1,400 to 3,400 sf.
David Weekley Homes is the project's homebuilder.
According to an RCLCO Real Estate Advisors report, the 11,500-acre Bridgeland was the third top-selling master-planned community in Texas and 14th nationally.
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CASTROVILLE (San Antonio Business Journal) – Merit Commercial Real Estate is developing the 435-acre Alsatian Oaks master-planned development.
The first phase will bring 233 homes, utility systems, and a parkway connecting to SH 90.
At buildout, the community will have 950 homes; over 400,000 sf of restaurant, retail, and medical office space; and neighborhood parks and trails.
Amenities will include a pool and fitness center.
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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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GRAPEVINE (Connect Media) – STAG Industrial has purchased D/FW North Logistics Center from Olympus Ventures.
The 202,140-sf, Class A industrial property was built in 2008 near the SH 121 and SH 114 intersection. It has 21- to 30-ft clear heights and a storage area for 100 trailers.
The property is fully leased.
CBRE National Partners arranged the sale on behalf of the seller.
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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) – A partnership between CBK Interests and Saber Street has broken ground on the Kelsey-Seybold Clinic — Memorial Villages.
The project, which includes a 126,113-sf medical office building and seven-story parking garage, is a build-to-suit project for Kelsey-Seybold.
Kirksey Architecture provided design and engineering services. Tellepsen is the general contractor. First Horizon Bank provided construction financing.
Completion is slated for July 2022.
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DENTON (Newsland Real Estate) – Newland Real Estate has brokered the sale of 155 acres at 8101 I-35.
The land, which is between FM 156 and US 380, sold for over $11 million.
Newland represented the seller. Buyers Capital Advisors represented 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=515 |
| RECON for October 19, 2021 | RECON for October 19, 2021 | | | 2021-10-19T05:00:00Z | 2021-10-19T05:00:00Z |
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| What's happening in today's RECON? Homebuilder buys Kerrville land for residential project, Southlake named the 29th best small city to live in, work starts on New Braunfels elementary school, and more. Keep reading for the details. (Photo of The Meridian from Total PR.) |
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WASHINGTON (WalletHub) – Southlake has landed on WalletHub's list of the top 20 small cities to live in America.
Ranking 20th overall, the Tarrant County city had the lowest housing costs of all cities WalletHub analyzed. It was also third in highest population with a high school diploma or higher.
Southlake also ranked 14th in economic health, 15th in affordability, 140th in safety, 469th in quality of life, and 625th in education and health.
Other Texas cities in the top 100 were No. 23 Cedar Park, No. 81 Colleyville, No. 82 Leander, No. 85 Keller, and No. 86 Allen.
Colleyville ranked second in both highest homeownership rate and highest population with at least a high school diploma.
The top five cities on the ranking were Sammamish, Wash.; Carmel, Ind.; Brentwood, Tenn.; Lexington, Mass.; and Reading, Mass.
In order to determine the rankings, WalletHub compared 1,322 cities across 43 metrics.
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 Our Real Estate Red Zone podcast provides perspectives from industry experts and members of the Center's research staff on issues affecting Texas real estate. Tune in to learn how we help Texans make the best real estate decisions. Episodes are available on our website, iTunes, YouTube, and Spotify.
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KERRVILLE (Total PR) – College Station-based Kept Classic Homes has acquired a significant portion of The Meridian for its first-ever residential project.
The homebuilder will build two- and three-bedroom homes ranging from 1,600 to 2,100 sf. The single-family houses will be priced from the upper $300,000s to the $500,000s.
A 2,100-sf model home breaks ground this month and will serve as the sales center when it opens next year.
Locally based Syfert Properties represented Kept in the transaction.
The Meridian is a 55-plus active-adult community. The gated project has a community clubhouse and walking trails.
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McKINNEY (REBusiness Online) – Parkside at Craig Ranch, a 1,824-unit apartment community at 7149 Van Tuyl Pkwy., has been sold.
The community was built in five phases between 2013 and 2021 within the 2,200-acre Craig Ranch master-planned development.
It totals approximately 1.5 million sf of net rentable space and has an onsite convenience store, multiple fitness centers, and centralized workroom with private offices.
CBRE represented the seller, Columbus Realty Partners. The firm also arranged a $242 million acquisition loan on behalf of the buyer, funds sponsored by Harbert Management Corp.
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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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SELMA (San Antonio Business Journal) – Titan Development and Robinson Weeks Partners have broken ground on a 305,760-sf building in Titan Industrial Park.
The building is the first speculative building in the 184-acre Selma portion of the park. A part of Titan Industrial Park extends into Schertz.
Delivery is set for July 2022.
Two additional buildings totaling 772,139 sf are planned for the site.
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HOUSTON (BidCreative) – Park Street Homes and Stradford Capital are developing Grand Park Square, a residential community within the Greater OST/South Union neighborhood.
The 105,000-sf community will include 32 market-rate and ten affordable homes. It will be built in five 40,000-sf phases.
Market-rate homes will start around $320,000, while affordable homes will start around $230,000.
Park Street Homes is owned by Kevan Shelton, who grew up in the historically black neighborhood, and his wife Ayesha.
The project team includes Midtown Redevelopment Authority, Braden Real Estate Group, and Drafthouse Design.
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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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NEW BRAUNFELS (San Antonio Business Journal) – Cadence McShane is breaking ground on a 115,000-sf elementary school for New Braunfels Independent School District.
The two-story building will be on S. Guenther Ave. on the former site of the ninth grade center. It will house 850 students.
Construction will be complete in August 2023.
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| https://www.recenter.tamu.edu/news/recon/?Item=514 |
| RECON for October 15, 2021 | RECON for October 15, 2021 | | | 2021-10-15T05:00:00Z | 2021-10-15T05:00:00Z |
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| Houston's residential market is on track for another record year. Despite consistently low inventory, robust demand has kept the housing market strong. Today's RECON has the details. (Photo from Center files.) |
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HOUSTON (Houston Association of Realtors) – Despite constrained inventory, buyers kept the Houston's housing market strong in September, positioning it for a record year.
According to the Houston Association of Realtors' (HAR) September 2021 Market Update, single-family home sales rose 1.5 percent from September 2020 to 9,226 units sold.
On a year-to-date basis, local home sales are 15.3 percent ahead of 2020’s record pace and up 21.6 percent compared with 2019.
Total dollar volume jumped 16.9 percent over the year to $4 billion.
The median single-family home price climbed 13.3 percent to $300,000, while average price increased 13.4 percent to $372,408.
Active listings fell 12 percent to 27,238 homes for sale, highlighting the market's constrained inventory. Pending single-family sales increased 11.1 percent to 9,540.
Months of inventory fell from 2.4 months in September 2020 to 1.8 months last month. The Texas Real Estate Research Center considers six to 6.5 months of inventory a balanced market.
Total days on market for single-family homes were nearly cut in half from September 2020, falling from 51 to 29 days.
According to HAR, luxury homes—those priced at $1 million and above—led the way in sales with a 34.6 percent year-over-year increase.
Total property sales inched up 1.6 percent to 11,285. September sales of townhouses and condominiums increased for the 13th consecutive month, jumping 11.7 percent.
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DALLAS (REBusiness Online) – S2 Capital has purchased a four-property multifamily portfolio totaling 1,893 units.
The properties include the:
- 662-unit Hyde Park at Montfort at 14332 Montfort Dr. in Dallas;
- 347-unit Twin Creeks Crossing I and 330-unit Twin Creeks Crossing II at 1030 W. Exchange Pkwy. in Allen; and
- 554-unit Tintara at Canyon Creek at 7655 Ranch Rd. 620 N. in Austin.
NorthMarq represented the seller and arranged acquisition financing for the buyer.
The new ownership will invest in capital improvements to the Austin and Dallas properties.
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Congrats to Aimee M. of Irving, the winner of the final $50 Amazon gift card in our Nifty Fifty Scavenger Hunt. Thank you to everyone who participated in our 20-week giveaway. If you aren't already, subscribe to RECON for real estate news and information on future contests.
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HARLINGEN (REBusiness Online) – Los Angeles-based BH Properties has acquired a 103,000-sf anchor building at Valle Vista Mall.
The space was last occupied by a Dillard's clearance center until the Arkansas-based department store's lease expired earlier this year.
BH Properties will reposition the building, which was built in 1983, for retail, office, and entertainment uses.
Coldwell Banker Commercial represented the seller. API Real Estate represented the buyer.
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TEMPLE (REBusiness Online) – Rowan Green Data is developing a 135,000-sf hyperscale campus on 32 acres in Synergy Park.
The 500-megawatt facility will be constructed in two phases.
The first phase will be complete in summer 2022 with the second following in 2023.
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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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HOUSTON (REBusiness Online) – Miami-based GDF Properties has purchased Holly Hall Apartments from Harbert Management Corp FEICA/Holly Hall LLC for $58 million.
The 569-unit multifamily community is on 18.5 acres at 2111 Holly Hall St. near NRG Stadium and Texas Medical Center.
Amenities include a pool, fitness center, spa, picnic area, pet play area, and a courtyard.
Lee & Associates represented the buyer and arranged acquisition financing.
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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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HALTOM CITY (JLL) – A fund sponsored by CBRE Investment Management acquired 820 Exchange, a four-building, 952,764-sf logistics park.
The Class A asset is on 58.5 acres at 4250 and 4251 Northern Cross Blvd. and 5020 and 5030 Anderson Blvd.
Completed in June 2021, 820 Exchange includes clear heights ranging from 30 to 36 ft, wide column spacing, shared truck courts, and loading areas with trailer parking.
JLL represented the sellers, Creation Equity and Walton Street Capital.
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KYLE (REBusiness Online) – Banyan Residential has broken ground on Banyan Bunton Creek, a 163-unit single-family rental community off I-35.
Homes will have two-car garages, fully landscaped backyards, and modern interiors.
An affiliate of Walton Street Capital is financing the project.
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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=513 |
| RECON for October 12, 2021 | RECON for October 12, 2021 | | | 2021-10-12T05:00:00Z | 2021-10-12T05:00:00Z |
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| The Texas Weekly Leading Index decreased the week ending Sept. 25 after increasing the previous week, pointing toward higher future economic activity as the economy continues to reopen. Unfortunately, the Delta variant-fueled rise in COVID cases has increased uncertainty surrounding the end of the pandemic. Read our latest report for more. (Figure from Texas Real Estate Research Center.) |
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PLANO (REBusiness Online) – Minneapolis-based Ryan Cos. is building a 400,000-sf office building at the Legacy West mixed-use development.
The 24-story building will offer amenities such as a fitness center, tenant lounge, café, multiple conference rooms, and open green space.
Gensler is designing the project, which is already 50 percent preleased to Ryan LLC. JLL is marketing the remaining space for lease.
Construction will begin in first quarter 2023 and wrap up two years later.
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| It's your last chance to win a $50 Amazon gift card in our Nifty Fifty Scavenger Hunt giveaway. Get all three questions on our quiz correct to enter. This week's giveaway closes on Thursday, Oct. 14. Enter now before it's too late. |
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MIDLAND (Midland Reporter-Telegram) – Sewell is developing three car dealerships on 30.8 acres at SH 191 and Avalon Dr.
The development will have eight buildings totaling 1.34 million sf. It will include a restaurant, car wash, amenities building, photo booth building, and two service centers.
Sewell plans to replicate its Odessa dealership complex.
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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 (REBusiness Online) – Pollock Orora has signed a 255,704-sf industrial lease at Seton Lake Logistics Center.
Trammell Crow owns the building, which is on 16.8 acres at 14611 Tomball Pkwy. The asset features 32-ft clear heights.
NAI Partners represented the tenant while CBRE represented the landlord.
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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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AUSTIN (Austin American-Statesman) – McWhinney Real Estate Services Inc. has acquired the 32-story Austin Property Hotel at 600 W. Second St.
The 244-room hotel has 98 condo units. Amenities include a pool, fitness center, spa, and over 14,000 sf of meeting and event space.
Goldman Sachs sold the property.
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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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SAN ANTONIO (San Antonio Business Journal) – Catellus is developing a residential project near the intersection of E. Cesar Chavez Blvd. and I-37 in the Victoria Commons neighborhood.
The project will include 86 single-family homes and townhomes and between 330 and 430 apartments.
Construction will begin next year.
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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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BAYTOWN (REBusiness Online) – San Diego-based Westcore has acquired a 210,887-sf industrial property within the Cedar Port Industrial Park master-planned development.
The building has 32-ft clear heights, 200-ft truck court depths, and an ESFR sprinkler system.
Colliers International represented the seller, The Woodlands-based NIT Industrial.
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HUTTO (Austin Business Journal) – AHS Residential LLC is breaking ground on a 204-unit apartment complex on ten acres on Exchange Blvd.
The property will have one- to three-bedroom units.
Construction begins this month and will be complete in November 2022.
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| https://www.recenter.tamu.edu/news/recon/?Item=512 |
| RECON for October 8, 2021 | RECON for October 8, 2021 | | | 2021-10-08T05:00:00Z | 2021-10-08T05:00:00Z |
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| Today's RECON has some of the biggest news in Texas real estate. In this issue, we report on Texas' GDP and personal income; a multifamily complex near Corpus Christi; industrial properties in Dallas, Houston, and Austin; and more. Keep reading for the details. (Photo from Oldham Goodwin.) |
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WASHINGTON (U.S. Bureau of Economic Analysis) – Texas' real gross domestic product (GDP) increased 6.4 percent at an annual rate in second quarter 2021, according to the Bureau of Economic Analysis.
In the second quarter, government assistance payments in the form of loans to businesses and grants to state and local governments increased, while social benefits to households, such as the direct economic impact payments, declined.
Professional, scientific, and technical services; administrative and support and waste management and remediation services; and information were the leading contributors to the increase in GDP.
In the second quarter, Texas' GDP represented 8.6 percent of the nation's GDP.
Nationally, real GDP increased 6.7 percent at an annual rate. All states and the District of Columbia saw increases in GDP in 2Q2021.
The increases in state GDPs across the country reflected the continued economic recovery, reopening of establishments, and government response related to the COVID-19 pandemic.
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PORTLAND (Oldham Goodwin) – Oldham Goodwin Capital has sold Palm Bluff Place, a 250-unit apartment community at 1825 Billy G. Webb Dr.
Completed in 2017, the Class A apartment community has one, two, and three-bedroom floor plans ranging from 705 to 1,313 sf.
Amenities include a resort-style pool, resident lounge and clubhouse, fully-equipped fitness center, outdoor kitchen and grilling stations, technology lounge, and controlled-access gates.
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| Congratulations to Jim B. of Austin, the winner of the $50 Amazon gift card in our Nifty Fifty Scavenger Hunt. If you missed out on the giveaway, don't worry: there's one more chance to win. Get all three questions on our quiz correct to enter. This week's giveaway closes Thursday, Oct. 14. Enter now before the giveaway ends. |
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WASHINGTON (U.S. Bureau of Economic Analysis) – Texas' personal income decreased 21.7 percent at an annual rate in second quarter 2021, according to the U.S. Bureau of Economic Analysis (BEA).
This comes after the metric increased 61.8 percent in the first quarter.
Transfer receipts decreased $144 billion, accounting for more than the entire $108 billion decrease in personal income.
According to the BEA, the decrease in transfer receipts primarily reflected a reduction in direct economic impact payments provided by the Coronavirus Response and Relief Supplemental Appropriations Act and the American Rescue Plan Act and a decrease in state unemployment insurance compensation.
In Texas, earnings increased 12.9 percent in the second quarter. The increase in earnings reflected the continued economic recovery following the partial economic shutdown that began in the first quarter of 2020 after the start of the COVID-19 pandemic.
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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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TAYLOR (Austin Business Journal) – Partners Real Estate Company is developing TaylorPort Rail Park 01, the first building at RCR Taylor Logistics Park.
The 350,000-sf building will be on 25.4 acres. It will have 2,500-sf spec office spaces, 63 dock doors, and two ramp doors.
Construction begins in January and will be complete by September 2022.
NAI Partners is the leasing agent.
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| Curious about Texas' commercial real estate market? Our research staff has got you covered. Your questions could be answered on our next episode of Texas Real Estate Research Today. Submit your questions here. |
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NEW BRAUNFELS (San Antonio Business Journal) – Wes Peoples Homes LLC is building 117 cottages at Solms Landing, a master-planned community near I-35 and Kowald Ln.
The two-bedroom cottages will range from 875 to 1,379 sf. Prices will range from the high $200,000s to $350,000.
Construction begins in the next few months. The first units will be available next February.
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McKINNEY (Dallas Morning News) – Transwestern will develop three buildings in its new McKinney Industrial Business Park on Harry McKillop Blvd., near the airport.
The campus will include 480,000 sf of space and is valued at $18.5 million.
O’Brien & Associates is designing the project, which will break ground next year.
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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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CIBOLO (San Antonio Business Journal) – H-E-B is developing a 110,000-sf grocery store and 55,000-sf warehouse on 45 acres at the northeast corner of FM 1103 and Main Street.
The project will bring 350 jobs.
The store will open by June 2023, with the fulfilment center opening within 18 months after that.
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HOUSTON (REBusiness Online) – Pollock Orora has signed a 255,704-sf industrial lease at Seton Lake Logistics Center at 14611 Tomball Pkwy.
Trammell Crow owns the building, which is on 16.8 acres and has 32-ft clear heights.
NAI Partners represented the tenant. CBRE represented the landlord.
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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=511 |
