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RECON for June 11, 2021RECON for June 11, 20212021-06-11T05:00:00Z2021-06-11T05:00:00Z
Icicles hanging from house
Highways, plants, and pipes weren’t the only things that froze during February’s winter blast. Texas’ housing inventory is still trying to thaw. For the full story, read our latest research article, "Cold Comfort: Uri Slowed New Listings, But Not Much Else." (Photo from Center files.)
June 11, 2021

Mixed-use project on the way near White Rock Lake

DALLAS (Dallas Morning News) – Mill Creek Residential is planning a 300-unit mixed-use project at the intersection of Grand Ave. and Garland Rd. near White Rock Lake.​

Called The Trailhead, the four​-acre development will take the place of vacant commercial buildings. In addition to the multifamily portion, it will include a pedestrian link to the adjacent Santa Fe Trail, a public plaza, and restaurant and retail space.

The city council voted to give extra height for the project in return for contributing 9 percent of the units to affordable housing.

Planning and design of the project has been led by TBG Partners and GFF.
Congratulations to Carrie O. of Houston, the winner of a $50 Amazon gift card in our Nifty Fifty Scavenger Hunt giveaway. If you missed out on the giveaway, don't worry, there are more chances to win. Get all three questions on our quiz correct to enter. This week's giveaway closes at the end of the day on Thursday, June 17.

Work starts on two Port Neches-Groves ISD schools

PORT NECHES, GROVES (Cadence McShane Construction Co.) – Cadence McShane Construction Company is building two new schools for the Port Neches-Groves Independent School District.

Work started on Port Neches Intermediate School and Groves Intermediate School in April. 

The identical schools will each measure 106,000 sf across two stories and house 750 students in grades three through five. 

They will have media libraries, cafeterias with kitchens, gymnasiums, computer labs, dedicated science and art instruction areas, and a self-sustaining​ special education wing.

Completion is set for August 2022, just in time for the 2022-23 school year. 

The schools were designed by VLK Architects.​​
Helping Texans make the best real estate decisions since 1971

Farmhaus townhome project starts in New Braunfels

​​​​NEW BRAUNFELS (San Antonio Business Journal) – Austin-based Chupik Properties and Design Inc. have broken ground on Farmhaus, a $500 million master-planned development.

The project is on ten acres at 430 Alexander Ave. It will include 60 single-family homes in a modern farmhouse style.

The community will include four home designs ranging from 1,623 to 2,495 sf. Prices are expected to be in the mid- to high-$400,000s.
Despite the pandemic, 2020 was an absolutely phenomenal year for Texas' housing market, and that momentum continued into 2021. Then Winter Storm Uri hit. Was this historic snowstorm able to knock the housing market off balance? Tune into our latest podcast to find out.

Bell Partners combining three multifamily assets

​​​AUSTIN (REBusiness Online) – North Carolina-based Bell Partners has acquired Lenox Springs and Lenox Meadows, two adjacent multifamily assets totaling 619 units. 

Bell will merge these proper​​ties with the neighboring 330-unit Bell Southpark property to create a 949-unit community.

Lenox Springs and Lenox Meadows were built in 2018 and 2021, respectively, and Bell Southpark was built in 2018. 

The new community will have multiple resort-style pools, grills, fireplace features, fitness and wellness studios, and green spaces.
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Construction underway on 700-home Collin County community

​​​​​​​LAVON (Dallas Morning News) – LakePointe Development Co. and Lenart Development Co. are underway on LakePointe, a 700-home community on SH 78.

The 200-acre project includes commercial building sites along with the hundreds of homes tha​t will start in the low $300,000s.

Builders in the project include Bluehaven Homes, Christie Homes, and Trophy Signature Homes.

Construction will start June 16.
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. 

Monarch Alternative Capital acquires 210K-sf Plano office

PLANO (Dallas Business Journal) – An entity connected with Monarch Alternative Capital has acquired Headquarters II, an office building at 5801 Headquarters Dr.

The 13-story, 210,000-sf building was delivered last year by Heady Investments, which will continue to lease and manage the property.​

Designed by O'Brien Architects, the building has amenities such as ​​​​a fitness center, conference center, tenant lounge, outdoor atrium, and amenity deck. It is currently vacant.

Cold Creek Solutions building 305K-sf SA facility

​​SAN ANTONIO (REBusiness Online) – Cold Creek Solutions is building a 305,000-sf cold storage facility at the intersection of I-10 and Loop 410.

ARCO National Construction is designing the project, which will have space for approximately 45,000 pallets of frozen or refrigerated product. 

Construction begins this fall with opening set for late 2022.
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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=477
RECON for June 8, 2021RECON for June 8, 20212021-06-08T05:00:00Z2021-06-08T05:00:00Z
Cross-Mod house
Work has started on Texas' first "CrossMod" residential subdivision. These HUD-code manufactured homes qualify for conventional Fannie Mae and Freddie Mac financing. Read more about the Seguin development in our latest research article. (Photo by Dustin Arp of Spark Homes.)
June 8, 2021

Hays Commerce Center in Kyle expanding

​​​KYLE (Austin Business Journal) – The Kyle Economic Development Department and HPI Real Estate are adding three buildings to the Hays Commerce Center off I-35. 

The new projects include: ​

  • Hays Logistics Center Building 2, a 206,000-sf cross-dock project with 32-ft clear heights and truck court;

  • Hays Commerce Center Building 3, a 68,240-sf flexible spec building with 28-ft clear heights, large dock doors, and oversized loading ramps; and

  • Hays Commerce Center Building 4, a 106,673-sf building with 32-ft clear heights, dock-high doors, oversized loading ramps, and truck court. 

HPI is the sole developer of the latter two buildings, which are expected to deliver by the end of the year.​

Hillwood Investment Properties​ is joining HPI in developing Hays Logistics Center Building 2. ​

Helping Texans make the best real estate decisions since 1971

New York firm takes seven-building office campus in Plano 

PLANO (Dallas Business Journal) – A fund controlled by New York City-based DRA Advisors has acquired The Legacy R&D office campus, a seven-building office portfolio on 40 acres at the corner of Tennyson Pkwy. and Pinecrest Dr.

Completed between 2006 and 2012, the buildings have significant clear heights, dedicated exterior entrances to tenant suites, and a six-per-1,000 parking ratio.

The 374,085-sf campus was 85 percent leased at the time of sale.

Accesso sold the property, which it had owned since 2012. Newmark represented the seller.
Nifty FifthWe're giving y'all another chance to win a $50 Amazon gift card in our Nifty Fifty Scavenger Hunt. Get all three questions correct to get entered in our weekly drawing. This week's giveaway closes at the end of the day on Thursday, June 10. 
Luxury apartments near SeaWorld breaks ground
​SAN ANTONIO (San Antonio Business Journal) – Locally based Casey Development has broken ground on Tacara at Dove Creek, a 321-unit apartment complex at 189 Empresario Dr. 

The property will have studio and one-, two-, and three-bedroom floor plans averaging 870 sf. Rents will be between $1,200 and $1,300 per month. 

Amenities include a fitness center, yoga studio, pet park, pool, and cabana with outdoor fireplaces and grilling spaces.

Baxter Contracting is the general contractor, and The SAGE Group is the architect. Greystar will manage the property.​​

Work was originally set to start in fourth quarter last year. The first units will be available late summer 2022, with completion set for summer 2023.

Casey acquired the site in 2017 from Paul Blackburn of Blackburn Properties.
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. 

Pennsylvania e-commerce firm signs Houston industrial lease

​​​​HOUSTON (REBusiness Online) – Pennsylvania-based The Webstaurant Store has signed a 643,940-sf industrial lease in Cedar Port Industrial Park. 

The tenant will occupy Cedar Port Logistics Building I, a cross-dock facility developed by Avera ​Cos. and AEW Capital Management.

Building features include 36-ft clear heights, 185-ft truck court depths, 211 trailer parking spaces, and an ESFR sprinkler system.

Newmark represented the tenant, while NAI Partners represented the landlord. ​
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Fully leased Austin industrial park sold

​​​​AUSTIN (JLL) – KBS has sold SouthPark Commerce Center, a four-building, fully leased industrial park, to BentallGreenOak. 

Built in 1998, the 372,763-sf Class A industrial/flex park is at 4401 Freidrich Ln. It has a 24-ft clear height with 36 percent office finish. 

JLL Capital Markets represented the seller in the disposition. Greenberg Traurig LLP provided legal counsel for KBS. 
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.

Fort Capital closes on 620K-sf DFW industrial portfolio 

DALLAS-FORT WORTH (Connect Media) – Fort Capital acquired five Class B industrial properties totaling 618,089 sf.

The properties include:
  • 1170 109th St. in Grand Prairie totaling 93,079 sf,
  • 1901 Windsor Pl. in Fort Worth totaling 148,354 sf;
  • 10920 Indian Trl. in Dallas totaling 144,396 sf;
  • 1115 Sturgeon Ct. in Arlington totaling 170,390 sf; and
  • 2045 W. Walnut Hill in Irving totaling 61,870 sf.

Morgan Group increasing Austin-area footprint

​​GEORGETOWN (Austin Business Journal) – Houston-based Morgan Group is preparing to break ground on a $37 million, 336-unit, three-story apartment complex.

The 394,395-sf project—tentatively dubbed Pearl Georgetown—will be at 5400 N. Mays St. It will have 16 buildings, a pool, clubhouse, courtyard, and fitness center.
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=476
RECON for June 4, 2021RECON for June 4, 20212021-06-04T05:00:00Z2021-06-04T05:00:00Z

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Are you thinking of getting a real estate license? Guest blogger Mike McEwen, a broker out of Jacksonville, Texas, shares the realities of the real estate business in our latest Mixed-Use Blog post. (Photo from Center files.)
June 4, 2021

Portland investor snags 370K-sf Farmers Branch office complex 

FARMERS BRANCH (Dallas Business Journal) – Portland-based Menashe Properties has closed on Heritage One and Heritage Two, a two-building, 370,000-sf office​ complex, in an all-cash deal.

Built in 1978 and 1980, the buildings at 4835 and 5001 LBJ Fwy. were last renovated between 2013 and 2019.

As of October, both properties combined were 79 percent leased to more than 40 tenants.

Newmark represented the seller, Brookwood Financial Partners. Forge Commercial Inc. will lease the property on behalf of Menashe.
Congratulations to Joanne J. of Arlington, the winner of the first $50 Amazon gift card in our Nifty Fifty Scavenger Hunt giveaway. Keep your eyes peeled for next week's quiz for a chance to win.

Pflugerville apartments trades hands

​​​​​PFLUGERVILLE (REBusiness Online) – Kansas City, Kan.-based KC Venture Group has sold an apartment community to Dallas-based Knightvest Capital.

Villas at Spring Trails offers one-, two-, and three-bedroom floor plans across 270 units. 

Built in 2013, the property has amenities such as a pool, fitness center, sand volleyball court, gaming and media center, and a putting green. 

It was 96 percent occupied at the time of sale.

Newmark represented the seller.
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Read more in our latest Texas Border Economy report.

Single-family rental community planned for Grand Prairie

​​​GRAND PRAIRIE (REBusiness Online) – Taylor Morrison Home Corp. is developing Christopher Todd Communities at Dechman, a 140-unit single-family rental community.

The 15.9-acre project will have one- and two-bedroom residences ranging from 750 to 1,050 sf. 

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

Christopher Todd Communities is providing design and management services for the project. 

Construction begins in the coming weeks.

According to our latest Texas Quarterly Apartment Report, multifamily construction activity is expected to remain strong. Overall market trends improved in March as more metros started to register higher year-over-year changes in both occupancy and rents.

New Jersey company picks up Amazon warehouse

​​​AUSTIN (Austin Business Journal) – New Jersey-based Four Springs Capital Trust LLC recently purchased MetCenter Building III from Dallas-based Mohr Capital LLC.

Amazon.com Services LLC occupies the entire 160,000-sf warehouse at 7000 Metropolis Dr.

The sale also included a 20-acre parking lot.

Mohr purchased the building in 2019.
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Watermark Retirement Communities, Hines planning project in Houston

​​​HOUSTON (REBusiness Online) – Watermark Retirement Communities and Hines are developing The Watermark at Houston Heights, a 222-unit independent-living, assisted-living, and memory-care community.

The seven-story property will be the tallest building in the neighborhood. Two floors will be fully dedic​ated to amenity space.

Completion is set for January 2022. 

Project partners include Munoz + Albin Architecture & Planning, Looney & Associates, TBG Landscape Architects, and Harvey Builders.
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. 

1M-sf warehouse planned for Hutchins

​​​HUTCHINS (Dallas Business Journal) – California-based Majestic Realty Company is planning a 1.01 million-sf speculative warehouse at 1002 E. Cleveland Rd.

Work will start on the $42 million pro​ject early next year. Delivery is set for late 2022.

Commerce Construction Co. LP, a subsidiary of Majestic, will design and build the warehouse, which will be within the 1.4 million-sf PointSouth Logistics & Commerce Center.
Helping Texans make the best real estate decisions since 1971

BH Properties purchases Preston Shepard Place in Plano

​​​​​PLANO (Dallas Business Journal) – BH Properties has acquired the 361,780-sf Preston Shepard Place shopping center.​

The property was built in 1995 on 31 acres at the northwest corner of Preston Rd. and Old Shepard Pl.

It is 55 percent leased and anchored by Marshalls, Burlington, and Tuesday Morning. The Retail Connection handles leasing.

The seller was an entity associated with Houston-based REIT Weingarten Realty.​

Las Vegas data company making Texas data center debut

​​ROUND ROCK (Austin Business Journal) – Las Vegas-based ​Switch Inc. is planning its first Texas data center next to Dell Technologies Inc.'s campus.​

The​ 1.5 million-sf multitenant facility will be called The Rock. According to Switch, the development will be fully powered by renewable energy.

Switch purchased the land from Dell. Site preparation and permitting begins this summer.

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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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https://www.recenter.tamu.edu/news/recon/?Item=475
RECON for June 1, 2021RECON for June 1, 20212021-06-01T05:00:00Z2021-06-01T05:00:00Z
To celebrate our 50th anniversary, we're giving away one $50 Amazon gift card each week for the next 20 weeks. For your chance to win, enter the Nifty Fifty web scavenger hunt each week and answer three questions about the Center's history correctly. Participate in this week's drawing. No purchase necessary. (Image by Center Graphic Designer Alden DeMoss.)
June 1, 2021

Expansions expected in Texas’ manufactured housing industry despite supply-side challenges

COLLEGE STATION (Texas Real Estate Research Center) – The latest results from the Texas Manufactured Housing Survey (TMHS) indicate industry optimism that translated into capital investment and planned expansions.

"Manufacturers are bullish with retail demand remaining strong and purchasing from their community channels picking up in 2021," said Rob Ripperda, vice president of operations for the Texas Manufactured Housing Association (TMHA). "The TMHS showed production growth moderating, but after the past two months of home deliveries being off the charts, manufacturers may have found the ceiling for current capacity. Investments in automation and expanding headcount are expected."

Survey respondents noted a contracting labor supply that weighed on hiring activity, but these issues should subside over the summer and lead to increased payrolls.

Supply-chain disruptions, however, continue to inhibit industry activity with little improvement in sight. These upstream bottlenecks are contributing to constant inflationary pressures.

"Lumber prices have come down more than 20 percent below their peak three weeks ago," said Dr. Harold Hunt, research economist at the Texas Real Estate Research Center at Texas A&M University, "but prices are still more than two and a half times higher than a year ago. Manufacturers are seeing some relief, but still nothing to write home about."

Inflation in the input market has translated to higher sticker prices for manufactured homes, but it’s unclear how much more of the cost can be passed through to consumers.

In addition to rising costs, the industry noted increased uncertainty that is likely to persist over the next six months. Despite these obstacles, Texas’ manufactured housing industry is on track for solid annual growth in terms of overall activity and market expansion. ​
Courts will solve any mysteries or disputes about the terms of an express easement. However, many such disputes can be avoided by careful negotiation and drafting. If a court can ascertain the terms intended by the parties, it will give them effect. Read "Who Knows What Easement Lurks?" by Texas Real Estate Research Center Research Attorney Rusty Adams for more.

Texas jobless claims getting closer to pre-pandemic levels

COLLEGE STATION (Texas Real Estate Research Center) – Initial jobless claims in Texas decreased to​​​​ 22,200 the week ending May 22, ​marking eight straight weeks of declines. ​This is the lowest ​level of initial unemployment claims since before the pandemic​ hit the econo​​​​​​my. 

​​About 5.1 ​​million unemployment claims have​​​ been filed since​ March 21, 2020, according ​to U.S. Department​ of Labor (DOL) data. 

Continuing unemployment claims increased ​to​ 219,500 the week ending May 15, recording two straight weeks of declines and the lowest level since March 2020.

"The levels and decreases in both initial and continuing unemployment claims indicate that the labor market is getting closer to pre-pandemic levels," said Dr. Luis Torres, a research economist for the Texas Real Estate Research Center. "Still, the Texas economy needs to gain almost 446,000 jobs to return to pre-pandemic levels." 

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, decreased the week ending May 22​.​​​​

​Last week, U.S. initial claims decr​eas​ed to 405,600, bringing the 62-week total to 82.6​ million. This marks four straight weeks of declines and the lowest level of the pandemic.

More people in most of Texas' major and border metros filed new unemployment claims the week ending May 15, with the exception of Houston and Brownsville. ​

"Although the majority of metros recorded an increase, the overall trend still points toward falling initial claims," said Torres.​

Using data from the DOL and the Employment and Training Administration, the Center has estimated unemployment claims for Texas' major and border metros since March 21, 2020:

  • Houston-The Woodlands-Sugar Land, 1.21 million claims;

  • Dallas-Fort Worth-Arlington, 1.17 million claims;

  • San Antonio-New Braunfels, 356,200 claims;

  • Austin-Round Rock, 300,500 claims;

  • McAllen-Edinburg-Mission, 141,600 claims;

  • El Paso, 122,300​ claims;

  • Brownsville-Harlingen, 65,500 claims; and

  • Laredo, 35,300 claims. ​​

"Increasing vaccination rates should lead to a faster recovery in the leisure and hospitality sector, possibly creating a wave of hiring that would allow thousands of laid-off workers to find jobs," said Torres.

Administrative/support/waste management/remediation services​registered the highest number of initial claims the week ending May 15. The sector was followed by retail trade, construction, and accommodation and food services.

Texas Quarterly Commercial Report: 1st Quarter 2021
Read more in our latest Texas Quarterly Commercial Report.

West Coast e-commerce distributor coming to DFW

​​GRAND PRAIRIE (Dallas Business Journal) – California-based Comptree has signed a 576,123-sf full-building leas​e at 1113 W. Oakdale Rd. 

The cross dock facility has 36-ft clear heights, 104 dock doors, 246 car parking spots, and 123 trailer parking spots. 

Dallas-based Crow Holdings developed the property, which delivered last year.

Lee & Associates represented the tenant.
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. 

San Antonio apartment portfolio sold

​​SAN ANTONIO (REBusiness Online) – Dallas-based Kanesville Capital has purchased a two-property, 388-unit multifamily portfolio from Austin-based Wildhorn Capital.

The assets are The Blair at Bitters at 400 W. Bitters Rd. and The Henry B at 11530 Vance ​Jackson Rd. 

Both properties were 97 percent occupied at the time of sale and have pools, fitness centers, business centers, tennis courts, clubhouses, and playgrounds. 

Newmark represented​​​ the seller.​​​

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.

Humble land slated for single-family rental project

​​​​HUMBLE (Realty News Report) – Houston-based Leva Living has acquired 16 acres for a single-family rental development.

Construction on the 160 units will begin immediately. ​

The site is on the east side of W. Lake Houston Pkwy. bordered by Harris County Park to the north.

Avison Young represented the sellers of the land, two local private individuals. Orr Commercial represented Leva.

Texas jobs increased modestly during April, adding 13,000 positions, a 0.1 percent gain over March. The state's employment sector recorded gains in 11 of the last 12 months. However, its growth rate was lower than the nation's 0.2 percent. Due to the jobs gained during April, the Texas economy now needs to gain almost 446,000 jobs in the coming months to return to pre-pandemic levels. Our latest Texas Employment Report has the details.

Work to start on San Marcos spec facility

​​​SAN MARCOS (San Marcos Corridor News) – Austin-based Live Oak is constructing an $11 million speculative facility called Barnes 35. 

Located on 14 acres at 320 Ba​rnes Rd., the project​ will offer nearly 135,000 sf across two Class A buildings. 

Completion is set for the end of 2022. 
Helping Texans make the best real estate decisions since 1971

Brennan picks up seven industrial buildings in Houston

​​HOUSTON (REBusiness Online) – Chicago-based Brennan Investment Group has acquired a seven-building industrial portfolio totalin​g 123,800 sf across the metro. 

The tenant roster has a weighted average lease team of 4.68 years and includes users in the industrial equipment, industrial services, consumer goods, energy, and construction industries. 

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=474
RECON for May 28, 2021RECON for May 28, 20212021-05-28T05:00:00Z2021-05-28T05:00:00Z
Point Bolivar Lighthouse
What's happening around Texas? Second phase planned for South Austin retail, residential project; 150-acre beachfront RV resort coming to Bolivar Peninsula; new Houston industrial project 80 percent leased; and more. Today's RECON has the details. (Photo of the Bolivar Point Lighthouse from Center files.)
May 28, 2021

Stillwater Capital plans second phase for South Austin project

​​AUSTIN (Austin Business Journal) – Dallas-based Stillwater Capital and its international equity partner Sweid & Sweid America working on the second phase of its commercial and housing​​ buildout in the city's far south side.

Phase two includes a​ new apartment complex, Double Creek II, which will be north of the project's first phase, The Haywood multifamily community. 

Double Creek II will have 372 units across five buildings on ten acres. All units will be market rate.

Work will wrap up on the second phase ​in 2023. Davies​​ Collaborative Malone/Wheeler are on the project team.​

The Haywood, which occupies 17 acres, offers 372 units across 12 buildings. The first units will open in the next couple of weeks. Kairoi Management is in charge of leasing.​

The remaining portion of Stillwater's 35-acre site between FM 1626 and I-35 will be home to retail development. Stillwater sold the 1.5-acre corner retail site earlier this year.

The company will donate roughly five acres to the city for a public park land.
The Texas Real Estate Research Center will be closed on Friday, May 28, and Monday, May 31, in observance of Memorial Day.

150-acre beachfront RV resort slated for Crystal Beach

​​​​​CRYSTAL BEACH (Houston Business Journal) – Port Bolivar-based NewCoast Properties is developing a 150-acre beachfront RV resort on the Bolivar Peninsula.

The Bolivar Beach Club & RV Resort will have more than 500 RV sites and a five-acre entertainment park with beachside concert venue. It will have ​​​access to 27 miles of beaches.

Other amenities include a resort-style pool with swim-up bar and private cabanas, turf football fiel​d, food truck park, golf cart rentals, and a clubhouse with retail offers. 

A soft opening is set for this fall, but a grand opening is planned for spring 2022. ​

The resort will begin hiring this summer and expects to fill more than 100 positions.​
For Sale, Currently Leased
A new contract addendum adopted by the Texas Real Estate Commission addresses leases on residential properties for sale. Contracts with residential leases executed after March 31, 2021, must include this addendum. Learn more in our latest article.

Two tenants take 273K at Interwood Distribution Center

​HOUSTON (Holt Lunsford Commercial) – T​wo tenants have signed leases totaling 273,347 sf at Interwood Distribution Center at 1471​​​0 and 14720 John F. Kennedy Blvd. 

Tailift Material Handling USA has signed a 37,502-sf partial lease in Building 1, a rear-load facility. 

GCP Paper USA Inc. is taking all of Building 2, a 235,845-sf cross-dock facility. 

The two leases bring the new Class A development to 80 percent occupancy. There is 68,345 sf of remaining space in Building 1.​

Interwood Distribution Center is a joint venture between Holt Lunsford Commercial Investments (HLCI) and GID Real Estate Investments.

HLCI represented the ownership. Centermark Commercial Real Estate represented GCP Paper USA.
Helping Texans make the best real estate decisions since 1971

Work starts on Energy Corridor multifamily

​​​​HOUSTON (Realty News Report) – Sueba USA has started on San Estrella, a 318-unit multifamily project in the Energy Corridor.

The community will be on nine acres at 13475 Rincon Dr. near the northwest corner of Eldridge Pkwy. and Westheimer Rd.

It will have studio and one-, two-, and three-bedroom floor plans ranging from 480 to 2,087 sf. 

Preleasing starts in summer 2022, with occupancy beginning that fall.
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EastSky acquires 1,429-unit Lewisville community

​​​LEWISVILLE (REBusiness Online) – EastSky Properties has purchased Hebron 121 Station, a 1,429-unit apartment community, from Huffines Communities. 

Built in phases starting in 2011, the 90-acre community is near the intersection of I-35 and SH 121.

Amenities include four pools with swim-up bars, entertainment lounges, an onsite restaurant and convenience store, dog parks, outdoor kitchens, two fitness centers, and a 10,000-sf clubhouse and leasing 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. 

750-unit self-storage facility opens in Porter

​​PORTER (REBusiness Online) – The Signorelli Co., has opened Valley Ranch Self Storage, a 750-unit facility within the Valley Ranch master-planned community. 

The three-story property totals 100,000 sf a​nd offers climate-controlled space. 

Units range from five-by-five ft to ten-by-30 ft.
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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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