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RECON for November 13, 2018RECON for November 13, 2018Bryan PopePope
2018-11-13T06:00:00Z2018-11-13T06:00:00Z

Real Estate Center Online News
Dallas skyline at night with cars driving on highway with long exposure
With over 4.5 million sf of net leasing, Dallas-Fort Worth inched ahead of San Francisco and Denver to become the top market in office leasing. Get the details on Transwestern's full report and more in today's RECON. (Photo from Center files.)
November 13, 2018

DFW top market in office leasing

​​​​DALLAS (Fort Worth Business Press) – Dallas-Fort Worth led the country for net office leasing for the 12 months ending in the third quarter, says a new report by Transwestern. 

With over 4.5 million sf of net leasing, North Texas was just ahead of San Francisco and Denver. 

The metro was second in office space under construction, well behind leader New York, which had 16 million sf under construction, about double DFW. 

According to Ryan Tharp, Transwestern research director in Dallas, the strong economy has contributed to the office market's momentum despite soft income growth in a tight labor market.

"Real gross domestic product increased at an annualized 3.5 percent, according to first estimat​es, and personal consumption contributed 2.7 percent to that rate," Tharp said. "Because inflation has remained in line with the Federal Reserve’s target of 2 percent, consumer and business confidence should keep the office market healthy well into 2019."

Nationally, absorption reached 22.7 million sf, vacancy remained stable at 10.1 percent, and asking rents increased by 4 percent, annually.​
Man holding iPad with Outlook for Texas Econ report
Texas' economic expansion continued as higher oil prices led to record-level production despite pipeline bottlenecks in the Permian Basin. Employment at the state level extended its two-year growth spurt, but the rate of increase decelerated as firms grappled with a shortage of workers. For more, read our latest Outlook for the Texas Economy report.

National housing affordability at ten-year low

​​​​WASHINGTON (National Association of Home Builders) – A modest increase in interest rates and home prices kept housing affordability at a ten-year low in third quarter 2018, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI).

In all, 56.4 percent of homes sold between the beginning of July and end of September were affordable to families earning the U.S. median income of $71,900. This is the lowest reading since mid-2008.

The national median home price edged up from $265,000 in second quarter 2018 to $268,000. This is the highest quarterly median price in the history of the HOI series. 

Average mortgage rates rose in the third quarter to 4.72 percent from 4.67 percent.

"Continuing home price appreciation and rising interest rates coupled with persistent labor shortages are contributing to housing affordability concerns," said NAHB Chairman Randy Noel. "Builders are increasingly focusing on managing home construction costs so they do not outpace wage gains."

According to NAHB Chief Economist Robert Dietz, jobs and economic growth provide a solid backdrop for housing demand amid affordability declines. 

"However, housing affordability will need to stabilize to keep forward momentum from diminishing as we move into the new year," he said. 

Visit the Real Estate Center's website to see the Texas Housing Affordability Index. ​
Obtaining a Texas Real Estate License coverObtaining a Texas Real Estate License is the most complete guide found anywhere to obtaining a Texas real estate salesperson's license. Everything from what activities require a license to actual application forms. This report has been reviewed by the Texas Real Estate Commission. 

Multifamily developer acquires Frisco Square land

FRISCO (Dallas Morning News) – B/K Multifamily and Arcadia Realty Corp. have purchased 25 acres at the northeast corner of the Dallas North Tollway and Cotton Gin Rd. in Frisco Square.

The property is zoned for more than 1,600 apartments, condos, and other residential units. It is next door to the Kilby, a 259-unit apartment project B/K started on late last year.​

The new owners, working with TBG and Torti Gallas + Partners, have planned several buildings plus a traffic roundabout and open space.

​Frisco Square is a 147-acre mixed-use project that was started almost 20 years ago. The project includes retail, apartments, office space, medical facilities, and Frisco's city hall.
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. 

Big senior community coming to Little Elm

LITTLE ELM (Dallas Morning News) – Atlanta-based PulteGroup is opening its second active-adult community in North Texas. 

Del Webb at Union Park, part of the Union Park master-planned development, is intended for seniors looking to downsize.

Once complete, it will have 607 single-story homes. The ten home designs range from 1,300 to 2,600 sf, with two to three bedrooms, two to three bathrooms, and two-car garages. 

A 10,000-sf private amenity center, set to open in March 2019, will have a clubhouse, fitness center, locker rooms, multipurpose rooms, pool, and bocce ball and tennis courts. 

The company's first Del Webb community, Frisco Lakes, opened in 2006.
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Did you know you can get notified every time one of our new economic reports is released? Check out our brand-new email notification feature to get the latest economic data sent directly to your email inbox for free. 

Parkway building 600-space parking garage at Phoenix Tower

​​​​​​​​​​HOUSTON (REBusiness Online) – Parkway Property Investments LLC is building a 600-space parking garage annex at Phoenix Tower, a 34-story office building at 3200 Southwest Fwy​. in ​Greenway Plaza.

The eight-story, 247,000-sf structure​ will adjoin the tower's existing eight-floor parking garage. 

Work will start before the end of the year and wrap up in late 2019. 

HOK is the architect and Kimley Horn is the engineer. ​​​
Helping Texans make better real estate decisions since 1971

It's a sign: Comet expands in San Antonio

​​​​​​SAN ANTONIO ​(San Antonio Business Journal) – ​Locally based Comet Signs has tripled its local footprint with a 166,000-sf lease at the corner of I-10 E. and I-410 E.

The company​ is taking up the entirety of HPI Real Estate Services & Investments' warehouse and office building at 5003 Stout Dr. Comet's most recent operation was a 50,000-sf warehouse at 253 W. Turbo Dr. 

HPI was self-​​​​represented while RFM Commercial represented Comet Signs in the ten-year lease. 

The landlord purchased the building from JLL in July. ​
Communication Matters video seriesThe Real Estate 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.

Waste no time with 248K-sf prelease 

HOUSTON (Houston Business Journal) – Waste Management has preleased 248,000 sf over nine floors in downtown’s Capitol Tower.

The 35-story, Class A office tower at 800 Capitol St. totals 750,000 sf. It is now 72 percent leased and is expected to deliver in 2019.

Other tenants include Bank of America and Quantum Energy Partners.

Canadian hotel chain opens first U.S. location in Plano

PLANO (Community Impact Newspaper) – The Sandman Signature Plano – Frisco Hotel has opened at 8451 Parkwood Blvd. 

The 233-room hotel's on-site restaurant, called Moxie's Grill & Bar, opened in September. ​

It is Canada-based Northland Properties Corporation’s first location in the United States.
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Copyright © 2018, 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 Real Estate 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 Real Estate 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=225
RECON for November 9, 2018RECON for November 9, 2018Bryan PopePope
2018-11-09T06:00:00Z2018-11-09T06:00:00Z

Real Estate Center Online News
USS Lexington docked at Corpus Christi
This Sunday we salute our nation's veterans, including those who served on the USS Lexington, pictured here docked in Corpus Christi, where it's now a museum. The aircraft carrier was commissioned in February 1943 and saw extensive service through the Pacific theater. The Japanese referred to the Lexington as a "ghost" ship for her tendency to reappear after reportedly being sunk. This, along with the ship's dark blue camouflage scheme, earned her the nickname "The Blue Ghost." (Photo from Getty Images.)
November 9, 2018

Phillips 66's Texas Gulf Coast pipe dream

HOUSTON (Houston Chronicle) – ​​Locally based Phillips 66 is planning two new oil pipeline systems that would stretch from North Dakota and Oklahoma down to the Texas Gulf Coast.​

Liberty Pipeline would stretch from the Bakken shale and the Rockies down to Corpus Christi, presumably to take oil from North Dakota, Wyoming, and Montana to refining and export hubs along the Texas Gulf Coast.

The project, which would ship 350,000 barrels of crude a day, would be built in a partnership with Wyoming-based Bridger Pipeline.

Red Oak Pipeline would trek from the storage and trading hub in Cushing, Okla., to refineries and ports in Houston, Beaumont, and Corpus Christi. It would ship 400,000 barrels a day.

Both are slated for completion in late 2020.​

Not so small Victor(y)

DALLAS (Hines) – Hines has broken ground on The Victor, a 344-unit apartment tower in the 75-acre Victory Park.

The 39-story skyscraper will include 10,000 sf of retail, a parking garage, and rooftop pool.

The Victor is situated on the northeast corner of Olive St. and Victory Park Ln. The site is one of the last vacant tracts in the mixed-use project.

Delivery is slated for second quarter 2021. Preleasing will begin in fall 2020.
Texas Housing Insight report cover
Texas housing sales fell 2.5 percent in third quarter 2018 despite a record-breaking July. The shortage of homes priced below $300,000 and rising interest rates continued to weigh on overall activity. Homes continued to fly off the market at an average of under 60 days, and mortgage applications for purchases held steady, corroborating the strength of demand. On the supply side, inventories inched forward as developers rushed to satisfy the market. The number of newly developed vacant lots for homes in the $200,000-$300,000 price range increased in all the major metros, pushing single-family permits upward. These gains should stimulate housing starts, which stepped back during the third quarter. The supply expansion calmed home-price appreciation after an extended hot streak. Despite a recent bump in real wages, rising interest rates hindered affordability across the state, particularly at the lower end of the market. For more, read the complete Texas Housing Insight report.

Stros Partners acquires 1.3M-sf portfolio for $88M

LAREDO (Connect Media) – Stos Partners has purchased an eight-building, 1.3 million-sf, multitenant industrial portfolio for $88 million.

The Southern California buyer partnered with Washington Capital Management to acquire the portfolio from Cardinal Industrial.

The asset is five miles from the World Trade Bridge and World Trade Port of Entry. 

The properties are at:
  • 11302 A/B/C East Point Dr.;
  • 417, 418, and 505 Union Pacific Blvd.; and 
  • 11909 and 11,921 Hayter Rd.
Real Estate Red Zone logoWith Veterans Day coming up this Sunday, we look at the best places for former military members to live in the country. Plus, just how many veterans are in America? These stories and much more on the latest Red Zone podcast. (10 min. 56 sec.) 

Uptown firm buys Las Colinas offices

IRVING (Dallas Morning News) – Koa Partners is moving its offices from Uptown to two buildings in Las Colinas.

The firm purchased the 200,000-sf office pair at 500 E. Carpenter Fwy. plus three acres for additional construction from Dallas-based Spire Realty.

Built in the 1980s, the eight-story project once housed operations for Verizon.

Spire had owned the office complex since 2010.

SXSW's downtown destination

AUSTIN (Community Impact Newspaper) – A new 12-story building, SXSW (South by Southwest) Center, is under construction at 1400 Lavaca St.

SXSW officials will occupy the building’s top two floors. The first floor will house retail and office space, five floors will be for parking, and the remaining four are available to lease.

Delivery is expected mid-2019.

The building is owned by CZ Properties.​
Texas Parks and Wildlife thanks veterans

540-unit self-storage facility Strategic(ally) sold

HOUSTON (REBusiness Online) – Strategic Storage Trust IV Inc. has acquired a 540-unit self-storage facility at 8415 Queenston Blvd. 

The facility, which was built in 2007, spans approximately 63,000 net rentable sf.

The property was 91 percent leased at the time of sale. 

Local governments receiving $817 million in sales tax revenue

​​AUSTIN (Texas Comptroller of Public Accounts) – The Texas Comptroller's Office will send cities, counties, transit systems, and special purpose taxing districts $817 million in local sales tax allocations for November.

These allocations, 5.4 percent more than in November 2017, are based on sales made in September by businesses that report tax monthly, and sales made in July, August, and September by quarterly filers.​​
Local Sales Tax Allocations for November 2018
Helping Texans make better real estate decisions since 1971
Copyright © 2018, 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 Real Estate 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 Real Estate 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=224
RECON for November 6, 2018RECON for November 6, 2018Bryan PopePope
2018-11-06T06:00:00Z2018-11-06T06:00:00Z

Real Estate Center Online News
Six wind turbines are viewed from the ground on a sunny afternoon.
Nearly 240 wind turbines are coming to Xcel Energy's new Hale County windfarm. The turbines will generate enough electricity to power 184,000 typical homes. Keep reading today's RECON for the details on this story and more. (Photo from Center files.)
November 6, 2018

Flower Mound gets Thirty-One Gifts

​​​FLOWER MOUND (Fort Worth Business Press) – Ohio-based direct-sales company Thirty-One Gifts is relocating its national distribution center to the Lakeside Business District.

The 651,000-sf facility at 951 S. Garden Ridge Blvd. is a former Kohler distribution center.

The company will bring 650 jobs to the center in April 2019 and will be the second largest private employer in the city. 

An estimated $200,000 in new tax revenue is expected to be generated annually. ​
Today is Election Day! If you haven't voted yet, be sure to do so at one of Texas' many polling locations. To find out where you can cast your ballot, visit Vote.org. You must be in line at or before 7 p.m. to vote. 

Xcel Energy brings winds of change

HALE COUNTY (Everything Lubbock) – More than half of the foundations have been poured for 239 wind turbines at Xcel Energy’s new Hale Wind Project.

Trenching work has also started on 190 miles of underground cable that will collect the 478 megawatts of electricity generated by the turbines.

Around 20 full-time employees will operate the wind farm once it opens in 2019. It will generate enough electricity to power 184,000 typical homes.

The project is part of Xcel Energy’s Texas and New Mexico renewable energy expansion.​
Helping Texans make better real estate decisions since 1971

Over 300,000 sf in Southwest Austin under new ownership

​​​​​​​AUSTIN (Austin Business Journal) – ​​​​Munich, Germany-based GLL Real Estate Partners GmbH has sold 313,716 sf of office space to Boston's Rockpoint Group LLC. 

Las Cimas II and III are at 807 and 805 Las Cimas Pkwy. The pair is over 90 percent leased to tenants​ including Jones Energy Inc., Tesla Inc., and Remora Royalties Inc. 

HFF represented GLL and helped Rockpoint secure a loan through Wells Fargo Bank NA.​​
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. 

Medical giant's HQ breaks ground in Deep Ellum

DALLAS (Dallas Morning News) – Baylor Scott & White has broken ground on its new head office center on the edge of Deep Ellum.

The 300,000-sf, $70 million office campus is on the 3700 block of Elm St. It will also have a parking garage. 

Hundreds of Baylor administrative employees will be consolidated into the new building when it opens in 2020.

Locally based KDC is building the project.​
Obtaining a Texas Real Estate License coverObtaining a Texas Real Estate License is the most complete guide found anywhere to obtaining a Texas real estate salesperson's license. Everything from what activities require a license to actual application forms. This report has been reviewed by the Texas Real Estate Commission. 

MetCenter second phase starts

​​​​AUSTIN (Connect Media) – Zydeco Development Corp. has started on the second phase of its 550-acre MetCenter Campus mixed-use business park on Metropolis Dr.

The local developer is building two of four creative office buildings, which will total 410,000 sf at build out.

JLL is handling leasing, having recently signed over 225,000 sf of deals in the park.​​
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Did you know you can get notified every time one of our new economic reports is released? Check out our brand-new email notification feature to get the latest economic data sent directly to your email inbox for free. 

CBL expands Beaumont's Parkdale Mall

​​​BEAUMONT (Business Wire) – ​​Chattanooga, Tenn.-based CBL Properties is redeveloping the former Macy's at the Parkdale Mall ​​at 6175 Eastex Fwy. ​

The nearly 110,000-sf redevelopment includes the addition of a Dick's Sporting Goods, Five Below, and a home-furnishing store.

Construction is underway with an anticipated opening in spring 2019. ​​​
Communication Matters video seriesThe Real Estate 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.

Medical building coming to Spring Valley Village

​​​​​HOUSTON (Realty News Report) – Stream Realty and Wellington Development are building a 125,000-sf office building on 2.5 acres in the Spring Valley Village area. 

The five-story building at 1001 Katy Fwy. is being designed by Kirksey Architecture. 

​​It will be connected to a seven-level parking garage adjacent to Campbell Rd. ​​

The deal Legends are made of

PLANO (Dallas Morning News) – American Landmark has acquired the 480-unit Legends at Ridgeview Ranch apartments.

Built in 1999, the apartment community on Kathryn Ln. just south of SH 121 ​was more than 96 percent leased when it sold.

American Landmark plans to spend $3.7 million on upgrades to the property.
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Copyright © 2018, 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 Real Estate 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 Real Estate 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=223
RECON for November 2, 2018RECON for November 2, 2018Bryan PopePope
2018-11-02T05:00:00Z2018-11-02T05:00:00Z

Real Estate Center Online News
Rendering of new Cypress Waters office projects
Two more office projects are in the works at the 1,000-acre Cypress Waters mixed-use development in Irving. Get the details on this story and more in today's RECON. (Photo from Billingsly Co.)
November 2, 2018

Redevelopment checks in at historic Fort Worth tower

FORT WORTH (Dallas Morning News) – The city council voted unanimously in favor of redeveloping the former XTO Energy Inc. building at 714 Main St. into a 232-room Kimpton hotel.

The four-star boutique hotel will have 10,000 sf of meeting space; a 3,100-sf restaurant; and a 3,100-sf penthouse bar. The agreement between the developer and the city stipulated that it must be finished by June 30, 2021.​​​

The developer will invest a minimum of $56 million into the project.

Public dollars for the redevelopment would not exceed $6 million, making the private-to-public ratio 12-1. Payback ​​is expected to only take a year.

The 24-story historic building was the tallest building in Texas when it opened in 1921.
Far West Texas landscape
Since the late 1880s, Far West Texas communities have benefited economically from many industries. However, because of the remote region's boom-and-bust history, many communities are currently hesitant to expand infrastructure or invest in long-term housing. Read more in "Between Sand and Sky: Challenges in the Land of Ghost Towns and Boom Towns," by Center Assistant Research Scientist Dr. Erin Kiella. 

HP behind largest Houston office deal of 2018

SPRING (Houston Business Journal) – Hewlett Packard Enterprise will break ground on a two-building campus in the Springwoods Village community in fourth quarter 2019.

The company has preleased 568,000 sf for its new campus, representing the largest office deal in the Houston area this year.

The project will be at the southwest corner of East Mossy Oaks Rd. and Lake Plaza Dr. 

Plans include a fitness center, café, and an adjoined open courtyard space. 
Real Estate Red Zone logoEek! On this week's spooky Halloween podcast, we read some real estate horror stories sent in by "ghost writers." Plus, we report on real estate news from around the state. Tune in if you dare. (15 min. 20 sec.) 

Two better than one at Cypress Waters

IRVING (Connect Media) – Two more office buildings are in the works at Cypress Waters, a 1,000-acre mixed-use development. 

Billingsly Co. filed plans with the city for two speculative office buildings totaling 420,000 sf at 3401 and 3501 Olympus Blvd. 

Construction will begin in 2019.

In addition to office space, Cypress Waters includes apartments and retail.
October 2018 Total RECall on an iPad with a VIP Pass next to it.
What's happening around the Center? Get the inside scoop with Total RECall, a free monthly update that combines all of the Center's latest research and more into one neat package. Read the October 2018 issue online for free and join the VIP list.

Frisco marches on towards urban development

FRISCO (Dallas Morning News) – Ryan Cos. and Invest Group Overseas will develop three office buildings totaling more than 900,000 sf in the $700 million mixed-use Gate development.

Called Auspire, the new business campus will be built on the Dallas North Tollway just south of Lebanon Rd.

Architect Gensler is designing the Auspire office project to include three high-rise buildings surrounding an urban park.

Part of the city's so called $5 billion mile, the 40-acre Gate development already includes two apartment communities developed by Embry of San Antonio and Irving-based JPI.

There are also plans for a high-rise residential building.

The Gate will have almost a dozen projects, including offices, hotels, residential buildings, and retail.
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New season for Las Colina hotel

​​​​​​​IRVING (Dallas Morning News) – New York-based Extell Development has purchased the Four Seasons Resort and Club Dallas at Las Colinas. ​​

The 431-room luxury hotel at 4150 N. MacArthur Blvd. has a golf course, conference center, and spa. 

A company set up by Blackstone Real Estate Advisors purchased the development in 2014 for around $150 million. The hotel has had more than $4 million in upgrades since then.

The Four Seasons was built in 1984 and had major additions in the late 1990s and in 2000. 
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More apartments Retreat to New Braunfels

NEW BRAUNFELS (San Antonio Business Journal) – The Retreat at Creekside, a 281-unit apartment complex, is coming to the corner of Creekside Way and Creek Bend Dr.

Developer Allied Orion Group will break ground on the $34 million development before the end of the year.

The company estimates the project will be finished by first quarter 2020.

Meritex acquires 121K-sf Park 225 

PASADENA (BusinessWire) – The Meritex Company has acquired Park 225, a 121,520-sf, multitenant light industrial building. 

The Class A facility is at the intersection of Hwy. 225 and Beltway 8, providing access to Houston’s vast petrochemical industry, the Houston Ship Channel, and to both Barbour’s Cut and Bayport Container Terminals.

The building is fully leased to four tenants.

This is Meritex's third Houston-area purchase.
City skylineMarket Research is your gateway to data on all 25 Texas metropolitan statistical areas, from Abilene to Wichita Falls. Whether you're looking for information on an area's demographics, top employers, or housing and commercial markets, chances are you'll find it here.

The Midtown Point of no return for old hotel

AUSTIN (Connect Media) – Midtown Point, a 165,000-sf office building, will be developed on 2.6 acres at 6200 Middle Fiskville Rd.

The building will be constructed on the current site of the Highlander Hotel, which will be demolished.

Middle Fiskville Development Ltd. is developing the property. Delivery is slated for 2021.​

Killeen council approves apartments

KILLEEN (Killeen Daily Herald) – The city council has approved a 216-unit apartment complex on Rosewood Dr. south of I-14.

The complex will include nine buildings and a clubhouse on a 31-acre plot.

Sixteen acres will be developed, while the remaining 15 acres would be used for green space and trail connectivity.
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29th Street Capital somersaults into 368-unit complex

HOUSTON (REBusiness Online) – 29th Street Capital has acquired Cali Sommerall Apartments, a 368-unit multifamily asset in the Copperfield/Bear Creek submarket. 

The company will renovate unit interiors and upgrade the amenity spaces, which include a pool, coffee bar, dog park, fitness center, and grilling station. 

Hines acquires the perfect Houston Venue

HOUSTON (Multi-Housing News) – Hines Global Income Trust has acquired Venue Museum District, a luxury multifamily community on 2.3 acres at 5353 Fannin St.

T​​​​he Class A community offers 244 units in a mix of one- and two-bedroom residences in two mid-rise buildings.

Units range from 763 to 1,857 sf, with monthly rents varying between $1,715 and $4,093.
Texas Association of Realtors quote about Real Estate Center
Copyright © 2018, 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 Real Estate 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 Real Estate 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=222
RECON for October 30, 2018RECON for October 30, 2018Bryan PopePope
2018-10-30T05:00:00Z2018-10-30T05:00:00Z

Real Estate Center Online News
Two IABC Silver Quill awards.
The Real Estate Center has received two Silver Quill Awards from the International Association of Business Communicators Southern Region. Keep reading today's RECON to see which publications were winners. (Photo by Center Photographer JP Beato III.)
October 30, 2018

Real Estate Center takes home two Silver Quill Awards

​​​​​​COLLEGE STATION (Real Estate Center) – The Real Estate Center at Texas A&M University has earned two Silver Quill awards from the International Association of Business Communicators (IABC) Southern Region.

IABC Southern Region announced the winners at its Connect18 Conference in Nashville, Tenn. The Center had three entries.

The Real Estate Red Zone podcast won an Award of Excellence in the audio/visual category.

The Center's Annual Report + Calendar earned an Award of Merit in the publications category.

IABC Southern Region's annual competition recognizes creative work by professional communicators in 13 U.S. states, the Caribbean, and Latin America.

Since 1979, the Real Estate Center has won more than 200 local, regional, national, and international awards for communications expertise, including 33 Silver Quills and four Gold Quills, IABC's highest international award.
Helping Texans make better real estate decisions since 1971

National share of first-time homebuyers dips 1 percent

WASHINGTON (National Association of Realtors) ​– Single female homebuyers continue to be a powerful force in the market, while low inventory, rising interest rates, and increasing home prices remain, holding back first-time buyers despite notable interest in buying a home.

This is according to the National Association of Realtors’ (NAR) 2018 Profile of Home Buyers and Sellers. 

​Of all homebuyers in the country, 33 percent bought a home for the first time this year. This is down from 34 percent in 2017.

The median purchase price was $250,000, and household income was $91,600. The median down payment was 13 percent.​

A little over half (51 percent) purchased a home in a suburban area, and 82 percent bought a single-family home. Nearly all buyers (87 percent) used a real estate agent.

For the second year in a row, single female buyers accounted for 18 percent of all buyers. It was the second-most common household buyer type behind married couples (62 percent).

Single male buyers accounted for 9 percent of all buyers, but they tended to purchase more expensive homes with a median price of $215,000 compared with single females ($189,000).

Around 44 percent of sellers traded up to a larger home.

The average distance between the home sold and new home purchased was 20 miles.

The median equity gain for sellers was $55,000. They waited an average of nine years before selling, and 91 percent of sellers used an agent. ​​
Obtaining a Texas Real Estate License coverObtaining a Texas Real Estate License is the most complete guide found anywhere to obtaining a Texas real estate salesperson's license. Everything from what activities require a license to actual application forms. This report has been reviewed by the Texas Real Estate Commission. 

McAllen scores all-time low industrial vacancy rate

​​​​McALLEN (CBRE) – The market-wide vacancy rate declined to 2.8 percent, a new record low, according to CBRE.

Class A and B vacancy rates also hit record lows, falling to 2.4 percent and 2.8 percent, respectively.

Market-wide average asking rates dipped compared with second quarter 2018 as Class C has continued to make up a larger portion of market availability. At the close of third quarter 2018, 50 percent of all available space in the market was Class C.

The quarter closed with users seeking 1.3 million sf of space. This is only 546,000 sf less than total available sf and almost double the total vacant sf in the market.
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. 

What's the buzz? Bee Cave's 1,200-acre proposal

BEE CAVE (Austin Business Journal) – The city c​​ouncil has approved a planned development district for the Village at Spanish Oaks.

The project is the final phase of the 1,200-acre Spanish Oaks master-planned community just west of SH 71 and RR 620.

Major elements of the proposal include:
  • 400,000 to 500,000 sf of Class A office space;
  • 500 to 800 residential units, including condos, apartments, and single-family homes;
  • independent- and assisted-living facilities;
  • 75,000 sf of restaurant and retail space; and
  • ​an 80-room hotel called Inn & Spa at Spanish Oaks.​
CCNG Inc. and Greenbrie​r Southwest Corp.​ are developing the mixed-use community.​
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Extra! Extra! Former Dallas Morning News home sold

​​​​D​ALLAS (Dallas Business Journal) – KDC is purchasing​​ the Dallas Morning News​' former headquarters for $33 million.

The 7.2-acre site at 508 Young St. is next to Union Station. 

The newspaper's parent company, A.H. Belo Corp., has been looking for a buyer since it announced its move to the renovated Dallas Public Library building. ​​​​​

Goal! Austin getting 5,000-seat soccer stadium

​​​​AUSTIN (REBusiness Online) – ​​Austin Bold FC, a professional soccer team coming ​​in 2019, has broken ground on its 5,000-seat stadium.

The $5 million venue will be adjacent to the Grand Plaza at Circuit of The Americas. 

It will be the capital's first ever purpose-built soccer stadium.
Communication Matters video seriesThe Real Estate 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.

Chase Industries opens new door

​​​​​​​​IRVING (REBusiness Online) – Cincinnati-based C​​​hase Industries has signed a 172,120-sf industrial lease in Liberty Park GSW. 

The manufacturer of custom traffic doors will occupy all of Building 1 at 5350 Frye Rd​. The shell construction ​​is expected to be complete this week. 

Cushman & Wakefield represented the landlord, Liberty Property Trust. Colliers International represented Chase​.​​​​

ClearWorth Capital gets pushed to The Edge

HOUSTON (Holliday Fenoglio Fowler) – ClearWorth Capital has acquired The Edge at City Centre, a 284-unit multifamily community near the Texas Medical Center.

The seven-acre property at 8410 West Bartell Dr.​ includes a mix of one- and two-bedroom units averaging 765 sf. 

The property was 94 percent occupied at the time of sale.

HFF marketed the property on behalf of the seller, 29th Street Capital, and procured the buyer. 
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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 Real Estate 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 Real Estate 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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