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RECON for September 21, 2018RECON for September 21, 2018Bryan PopePope
2018-09-21T05:00:00Z2018-09-21T05:00:00Z

Real Estate Center Online News
Green and blue and colorful houses facade Aerial drone view of suburb neighborhood in East Austin community
Last month, Austin-area Realtors sold more houses than any other August on record. The median price also hit its third-highest point ever. Get more info on Austin housing and more in today's RECON. (Photo from Center files.)
September 21, 2018

Texas employment still growing

​​​​​​​​​​​​AUSTIN (Texas Workforce Commission) – The Texas economy added 32,000 seasonally adjusted nonfarm jobs in August, marking 26 consecutive months of employment growth.

According to data from the Texas Workforce Commission, the state’s seasonally adjusted unemployment rate was 3.9 percent, down from 4 percent in July.

Over the year, the state added 394,500 jobs for an annual employment growth rate of 3.2 percent.

The Texas metro with the lowest nonseasonally adjusted unemployment rate was Midland at 2.2 percent. McAllen-Edinburg-Mission had the highest at 6.6 percent.

The mining and logging industry saw the largest seasonally adjusted growth in employment from August 2017 to August 2018, growing 15.2 percent. The information industry was the only one to lose jobs with employment dropping 2.8 percent over the year.​
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NAR: Existing-home sales remain steady in August

​​​​WASHINGTON (National Association of Realtors) – ​​​Existing-home sales for all housing types across the country remained steady in August after four straight months of decline, according to the National Association of Realtors. 

Sales remained unchanged from July at a seasonally adjusted rate of 5.34 million sales. That's down 1.5 percent from a year ago.

The median existing-home price for all housing types was $264,800 last month, up 4.6 percent from August 2017. This marks the 78th straight month of year-over-year gains. 

Total housing inventory also remained unchanged from July at 1.92 million existing homes up for sale. In August 2017, there were 1.87 million homes for sale. 

Inventory is at a 4.3-month supply. Properties stayed on the market for 29 days in August, up from 27 days in July but down from 30 a year ago. 

First-time homebuyers accounted for 31 percent of sales in August. ​

Realtor.com's Market Hotness Index revealed that Midland was among the hottest metro areas last month. Other hot​ metros include Fort Wayne, Ind.; San Francisco-Oakland-Hayward, Calif.; Columbus, Ohio; and Boise City, Idaho. 

Existing-home sales in the South—the region which includes Texas—fell 0.4 percent over the month to an annual rate of 2.23 million, up from 2.19 million a year ago. The median price grew 3.2 percent over the year to $227,900.​​​​​
Dr. Erin Kiella, Assistant research scientist, Real Estate Center
Center Assistant Research Scientist Dr. Erin Kiella joins us on this week's Red Zone podcast to talk about new rural land data for Louisiana, Mississippi, and Alabama. Plus, how's the economy faring along the Texas-Mexico border? Tune in for all this and more

Austin has record August

​​​​​AUSTIN (Austin American-Statesman) – Last month, the metro's housing market had its highest-grossing sales for any August on record and the third-highest median price for any month, according to the Austin Board of Realtors. 

Area agents sold 3,034 homes across the metro in August, 3.7 percent more than last year. 

The median price was $322,478, up 8.2 percent over the year. That's the third-highest median on record, trailing June’s all-time high of $326,250 and May’s second-highest level of $325,000.

Strong sales led to double-digit gains in sales dollar volume, totaling $1.2 billion. That’s 10.5 percent higher than August 2017. 

For more Texas housing stats, read the Center’s latest Texas Housing Insight report. ​
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National housing starts up 9.2 percent

​​​​​​​WASHINGTON (National Association of Home Builders) – National housing starts increased 9.2 percent in August to a seasonally adjusted annual rate of 1.28 million units, according to the U.S. Department of Housing and Urban Development and the Commerce Department. 

Single-family starts increased 1.9 percent to 876,000 units. Multifamily starts rose 29.3 percent to 408,000 units. ​​

Overall permits fell 5.7 percent to 1.23 million units. In the single​-family sector, permits dropped 6.1 percent to 820,000 units. Multifamily permits fell 4.9 percent to 409,000 units. 

"Although we saw an increase in starts in August, we are likely to see softening in the market in the months ahead," said National Association of Home Builders Chief Economist Robert Dietz. "Affordability is a particular concern because of home price gains, due in part to the high regulatory burden on new home construction. Increasing costs for building materials prompted partially by recently imposed tariffs on a wide range of products are also a concern. Moreover, interest rates are continuing their gradual upward climb."

In the South—the region which includes Texas—starts increased 6.5 percent and permits decreased 2.9 percent. 

Women's land stewardship conference Oct. 1-2 in Fredericksburg

​​​​​​​​​FREDERICKSBURG​​ (AgriLife Today) – ​The Texas A&M AgriLife Extension Service will offer a two-day land stewardship conference, “Empowering Women – New Stewardship Traditions,” Oct. 1-2 at the Inn on Barons Creek. 

The conference, funded in part by the Ruth and Eskel Bennett Trust, is an effort to reach women landowners who want to learn more about land stewardship.

​The conference costs $75 and includes meals, break refreshments, and tour transportation. ​​Hotel rooms are available at the Inn on Barons Creek at ​308 S. Washington St. for $99 per night ​​​with the Bennett-TAMU group code.

Tina Buford, Texas State Soil and Water Conservation Board member from Harlingen, will be the keynote speaker. 

​​The second day will include tours that concentrate on plant identification, tracking and identifying wildlife scat, skeet shoot, and Bow Pros archery shooting demonstration. It ​will continue to Bridget's Basket in Hunt for lunch and a tour.

For more information, go to https://agrilife.org/bennetttrust/. You can also contact Dr. Larry Redmon at l-redmon@tamu.edu, Matt Brown at matthew.brown@tamu.edu, or an AgriLife Extension agent in the region.​​​

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Looking for housing activity data for U.S. states and Texas counties or metros? Well, look no further, because the Real Estate Center has all the data you need online for free. Check it out on our website

Aspire to go higher: 13-story tower planned

SAN MARCOS (Austin Business Journal) – Construction is underway on a $94 million tower that will introduce a new form of urban student housing to Texas State University.

The 754-bed apartment will be on private property between N. Guadalupe St. and N. LBJ Dr. near ​​​campus.

The project was called Concho Commons before it was rebranded as Aspire San Marcos.

There will be an 18,000-sf ground-floor amenity open to the public and three levels of underground parking.

The 13-story complex is slated to open by summer 2020.

Renderings show a Target store,​ but a spokesperson for developer Casey Development said they were just prospective models and don't reflect final plans.

Denton adds cool industrial space

DENTON (Denton Record-Chronicle) – United States Cold Storage has opened a 224,000-sf distribution center ​​on Jim Christal Rd. on the city's western side.

​Inside, there is space for 25,802 pallets of goods, with storage temperatures ranging from -120 degrees to 60 degrees.​

The company invested $34 million to complete the project, which is its 39th nationwide. It already has locations in Fort Worth, Arlington, and Dallas.
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.

Everything comes in threes

WACO (Waco Tribune) – A trio of four-story hotels totaling 361 rooms  is planned off MLK Jr. Blvd.

​​​​The L-shaped Cambria Hotel between Bridge St. and Taylor St. will include 132 suites, a bar and restaurant, fitness center, 5,400 sf of event space, ​​and a shared courtyard with the adjacent Even Hotel.

The Even Hotel will include 128 rooms, a bar and restaurant, workout space with equipment in each room, and 1,900 sf of meeting space.

On the other side of Taylor St., a 101-room Holiday Inn Express will have a fitness room, pool, and board room with flexible space.

Developers hope to break ground in early 2019 and complete the $21.7 million ​project by 2022. 

FPA Multifamily unveils redevelopment plans for West Ave

​​​HOUSTON (PR Boutique) – FPA Multifamily and Trinity Property Consultants have acquired Gables West Ave and the West Ave shopping center. 

The properties will be renovated and rebranded as Shops at Arrive (shopping center) and Arrive River Oaks (luxury apartment community).

The ten-year-old mixed-use property at 2800 Kirby Dr. has 397 multifamily units and 193,895 sf of retail. Tenants include Tootsies, Milk & Honey, SAP, and Eddie V’s Prime Seafood. 

The partnership will oversee the rebranding and renovation process, which will wrap up in 2019.
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New owner for student housing high-rise

AUSTIN (CBRE) – A joint venture between the Preiss Company and TH Real Estate has purchased Aspen Heights West Campus from Aspen Heights Partners.

The newly built, 165,708-sf, student-housing complex at 1909 Rio Grande St. is three blocks from the University of Texas. It has 464 beds across 166 units.​​​​​​

​The 17-story asset is now rebranded as Signature 1909.

CBRE arranged the sale.

Meanwhile, back at the Ranch (at Arrington)

COLLEGE STATION (Multifamily Press) – Lynd is developingan apartment community called the Ranch at Arrington.

The property on 12 acres at 1650 Arrington Rd. will have one-, two-, and three-bedroom apartments ranging from 539 to 1,402 sf.

The 272-unit complex will have a swimming pool and heated spa, sand volleyball court, ​kitchen, meeting rooms, and a fitness center.

Construction should begin later this month.​

The XPO Logistics behind the lease

SAN ANTONIO (San Antonio Business Journal) – XPO Logistics Inc. has signed a lease for an entire Class A warehouse at Gateway10 Business Park.

The 180,000-sf building has a 32-ft clear height, 230-ft building depth, 38 dock-high rear-load doors, and 16 additional trailer drops.

The company will occupy the first completed building in the 108-acre mixed-use development near I-10 and N. Foster Rd.

When complete, the park will have 1.3 million sf of industrial, commercial, and retail space.
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=210
RECON for September 18, 2018RECON for September 18, 2018Bryan PopePope
2018-09-18T05:00:00Z2018-09-18T05:00:00Z

Real Estate Center Online News
Fans watch a fireworks show after a RoughRiders baseball game at the Dr. Pepper Ballpark in Frisco.
A North Texas city took the top spot on Money's best places to live list. Plus, which oil city had the fastest-growing GDP in the nation last year? Find out in today's RECON. (Photo from Money.)
September 18, 2018

Odessa GDP up 12.1 percent, fastest in nation

WASHINGTON (Bureau of Economic Analysis) – Odessa's real gross domestic product (GDP) grew 12.1 percent last year, the fastest in the nation, according to new data released by the Bureau of Economic Analysis. 

GDPs for Midland and Austin-Round Rock grew at the seventh- and ninth-fastest rates in the U.S., increasing 7.6 percent and 6.9 percent, respectively. 

Corpus Christi registered the greatest drop in GDP in Texas, falling 4 percent. Beaumont-Port Arthur​ (-2.8 percent), Brownsville-Harlingen (-0.8 percent), and San Angelo (-0.1 percent) were the only othe​r Texas metros seeing negative GDP growth.

Houston-The Woodlands-Sugar Land registered zero growth in 2017. 

The percent change for all U.S. metropolitan areas was 2.1. 

Real GDP be Metro

Money: Frisco best place to live in America

​​​​​NEW YORK CITY (Money) – Frisco is the best place to live in America, according to rankings from Money. ​​

With a median family income of $129,118, the North Texas city had a median home price of $349,000 as of first quarter 2018. The home price to income ratio is 2.7. 

Projected job growth from 2017 to 2022 is 14.9 percent, according to Moody Analytics. Corporations like T Mobile and Oracle have offices in the city. 

Frisco grew from 6,500 people in 1990 to nearly 180,000 residents. The average commute is 30 minutes, and the high school graduation rate is 98 percent. There are 232 clear days per year. 

​Other U.S. cities in the top ten are:
  • Ashburn, Va.;
  • Carmel, Ind.;
  • Ellicott City, ​Md.;
  • Cary, N.C.;
  • Franklin, Tenn.;
  • Dublin, Calif.;
  • Highlands Ranch, Colo.;
  • Sammamish, Wash.; and
  • Woodbury, Minn. 
To come up with the 2018 rankings, Money looked at schools, economies, crime, diversity, and culture. The magazine used realtor.com housing data and added a new metric comparing home prices with income. ​​
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Border housing sales extended its positive trend, reaching a record high of 1,300 transactions through Multiple Listing Services. For the details, check out the Center's latest Texas Border Economy report.

Toronto investor buys Fort Worth industrial asset

FORT WORTH (Holliday Fenoglio Fowler) – Toronto-based PIRET purchased 35|820 @ Mercantile Center, a 657,043-sf, Class A industrial building, from Hunt Southwest.

Completed in August 2017, the building features a 36-ft clear height, deep truck court, 152 overhead dock doors, four drive-in doors, and a low office finish. 

It is on 34.5 acres at 4800 North Sylvania Ave. (north side of the building) and 2601 Quorum Dr. (south side of the building) in the Meacham/Fossil Industrial submarket.

HFF marketed the property on behalf of the seller. ​
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. 

Not the last resort, but a big one bought

SAN ANTONIO (San Antonio Express-News) – Blackstone has purchased The JW Marriott San Antonio Hill Country Resort & Spa.

The 1,002-room resort and the adjacent TPC San Antonio golf course at 23808 Resort Pkwy. opened in 2010 and cost over $600 million to build.

It includes two golf courses, spa, nine-acre water park, high-end restaurants, and nearly 270,000 sf of convention space.

In 2016, the hotel finished a $16 million expansion to its waterpark and meeting and event space. It finished an additional $500,000 worth of renovations in early 2018.

Blackstone borrowed $405 million to finance the transaction.​
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. 

346-unit Alexan Auburn Lakes changes hands

SPRING (Connect Media) – Trammell Crow Residential and Prime Property Investors have sold the 346-unit Alexan Auburn Lakes to Fort Worth-based Olympus Property.

The Class A apartment complex at 6000 W. Rayford Rd. offers one-, two-, and three-bedroom units.

It opened in 2015 and includes two tropical pools, a bark park and groom room, a reflection lake, and running trail.
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A 262-unit pillar of Society

AUSTIN (Austin Business Journal) – A 262-unit apartment complex is coming to South Congress, about a mile south of the planned St. Elmo Public Market.

The complex, called Society, will sit on a 6.1-acre lot at 6001 S. Congress Ave.

Architecture firm Rhode Partners and developer Leon Capital Group created a sleek modern design with lots of wood, glass, and metal to appeal to “tech-centric” tenants.

There will be one-, two-, and three-bedroom units ranging​​ from 571 to 1,721 sf.

The complex is scheduled to open by fall 2019.​​
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107K-sf self-storage facility opens in Houston

HOUSTON (Houston Chronicle) – Grow Your Storage Development has opened Blackhawk Self Storage, a 107,000-sf facility at 10646 Blackhawk Blvd. in Riverstone Ranch. 

The building has access control and security features, local onsite management, and online renting capabilities.

The company partnered with All Pro Capital on the project. ​
Communication Matters video seriesIn a series of four videos, the Real Estate Center at Texas A&M University explores what it takes to be an effective communicator. The presenter is Mays Business School Executive Professor John Krajicek.

DeSoto senior living under new ownership

DeSOTO (Multi-Housing News) – Franklin Cos. has sold Franklin Park of DeSoto, a 240-unit, fully age-restricted property at 431 W. Wintergreen Rd.

The complex encompasses 31 buildings across more than 22 acres. It is roughly 13 miles south of central Dallas.

Greens Port Industrial Park facility sold

​HOUSTON (REBusiness Online) – Locally​​ based Hines has so​​ld a 447,605-sf manufacturing plant on 41.5 acres within the Greens Port Industrial Park. 

The plant at 13770 Industrial Rd.​ was fully leased to AFGlobal Corp. at the time of sale.
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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=209
RECON for September 14, 2018RECON for September 14, 2018Bryan PopePope
2018-09-14T05:00:00Z2018-09-14T05:00:00Z

Real Estate Center Online News
Produce is lined up perfectly in a new H-E-B store
In today's RECON: a new H-E-B store has opened in College Station; two properties totaling 600,000 sf were sold in Midland; and Texas homes sales and prices continue to rise. Keep reading for all this and more. (Photo by Center Photographer JP Beato.)
September 14, 2018

Texas home sales, prices continue to rise

​​​AUSTIN (Texas Association of Realtors) – Texas home sales and median prices continued to rise in second quarter 2018, according to a report from the Texas Association of Realtors.

Across the state, 100,227 homes were sold in the second quarter, up 2.8 percent over the year. The median sales price increased 4.4 percent to $238,000.

Real Estate Center Chief Economist Dr. Jim Gaines said, “Home sales activity remained strong for the second quarter of 2018. The demand for housing remains at an all-time high, but statewide we’re seeing a slower rate of increase in sales compared to previous quarters due to the lack of inventory of properties for sale.”

Of all homes sold, 30.2 percent were priced from $200,000 to $299,999, and 29.2 percent were priced from $100,000 to $199,999.

Texas active listings increased 0.3 percent over the year to 110,330 listings. Homes spent an average of 87 days on the market.

Months of inventory fell 0.1 months to 3.9 months. According to the Real Estate Center, a balanced market has between six and 6.5 months of inventory.

For more Texas housing stats, ​read the Center’s latest Texas Housing Insight report. ​
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Harvard JCHS: remodeling spending heats up in 2018

​​​​CAMBRIDGE, Mass. (Harvard Joint Center for Housing Studies) – Annual growth in home improvement spending is expected to be widespread across the country's largest metros in 2018, according to a new model developed by the Remodeling Futures Program at the Harvard Joint Center for Housing Studies.

San Antonio-New Braunfels will lead Texas in improvement spending growth, growing an expected 12 percent annually. Dallas-Fort Worth-Arlington will follow closely behind at 11 percent. 

Austin-Round Rock and Houston-The Woodlands​​-Sugar Land will also increase improvement spending, growing 10 percent and 5 percent, respectively.  

According to the model, all 50 metros studied will increase annual improvement spending. 

These projects mirror the national projects for the Remodeling Future's quarterly Leading Indicator of Remodeling Activity, which predicts that national spending will grow by over 7 percent in 2018. 

The model uses two decades of home improvement spending as benchmark data. 
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Looking for rural land data for Texas, Alabama, Louisiana, and Mississippi? We've got you covered. Learn more about the new data in this week's Mixed-Use blog.

$30M and 130 jobs to Central Texas plant, eh?

NEW BRAUNFELS (San Antonio Business Journal) – Canada-based manufacturer CGT US Ltd. is investing $30 million into its Central Texas plant to add new production lines.

The 240,000-sf facility at 2827 FM 1101 makes coated fabrics and vinyl films used for car dashboards, doors, and seats.

Crews have already started the installation process on the lines and should wrap up by the end of the year. 

Once complete, the renovations are expected to double the plant’s capacity. The additional production lines will create 130 jobs. ​

The plant will be fully operational by 2020. ​
Real Estate Red Zone logoWhat factors go into deciding to invest in a home or the stock market? Center Research Economist Dr. Harold Hunt and Research Intern Clare Losey offer their insight in the latest Red Zone podcast. (15 min. 02 sec.) 

Two properties, 600K SF sold in Midland

MIDLAND (REBusiness Online) – Two Class A office properties totaling nearly 600,000 sf have been sold.

The 421,546-sf Fasken Center at 500 W. Texas Ave. was built in phases in 1974 and 1982. 

Frost Bank Tower is a 12-story, 177,952-sf building at 508 W. Wall St.​

Colliers International arranged the sale. 

Howard Hughes purchases $53M HQ 

THE WOODLANDS (Houston Business Journal) – Dallas-based Howard Hughes has purchased the former Chicago Bridge & Iron Co. headquarters located at 2103 Research Forest Dr.​

The $53 million property includes two buildings adjacent to the buyer's 66-acre Hughes Landing development. 

Building one is four stories and contains 108,325 sf of office space plus a fitness center and locker rooms on the first floor. 

Building two is six stories with 148,700 sf of office space, a multipurpose conference room, an executive conference room, and a data center. 

The 12.9-acre campus also features a waterfront park and a covered garage with 1,035 parking spaces. 
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Looking for building permit data for your city or state? The Real Estate Center has all the info you need for free on its website. Building permit data for single-family, 2-4 family, and 5-plus family units for states, MSAs, and Texas counties are available to you at no cost.

Three data centers to SA border

MEDINA COUNTY (San Antonio Business Journal) – Microsoft Corp. plans to build three data centers for $62 million, according to Texas Department of Licensing and Regulation.

The new development appears to be on the far edge of the Texas Research Park at 15000 Lambda Dr.

Each single-story data center will span about 225,000 sf and include a 14,000-sf office portion.

Work is slated to begin in October and wrap up by August 2019.​​

16-acre retail development planned near CityPlace

DALLAS (Dallas Morning News) – Trammel Crow Co. plans to develop the 16-acre vacant plot at the intersection of US 75 and Haskell Ave. near CityPlace.

​According to CBRE, the Market Station property will include a 55,000-sf anchor building for a supermarket or entertainment venue, 144,000 sf ​of other retail space, and a parking garage.

​The tract—one of the largest vacant building sites near Uptown—was previously slated for a Sam's Club. 
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'No store does more,' especially this H-E-B

COLLEGE STATION (The Eagle) – The latest and greatest H-E-B in the area opened this Wednesday morning.

The 106,975-sf store is at 11675 Wellborn Rd.​ in the Jones Crossing shopping center. It has 600 parking spots, a gas station, and a car wash.

Inside the 24-hour store is a self-check area with six registers and kiosks in addition to traditional bagging areas.

With its proximity to the Texas A&M University campus, the store has a Gig 'em Gear shop with all of the A&M merchandise H-E-B is licensed to carry.

Also new to this location is a South Flo Pizza and a poke bowl station with a 45-person seating area.

This H-E-B boasts the biggest curbside location in the company, encompassing a covered 1,200-sf lot.

Say 'Hallelujah' to affordable housing

FORT WORTH (Fort Worth Business Press) – Union Gospel Mission of Tarrant County (UGM-TC) has broken ground on a 102,679-sf mixed-used development that will offer 104 affordable apartment units.

The two-building Vineyard on Lancaster at 1401 E. Lancaster Ave. will include:

88 one- and 16 two-bedroom units,

secured entry with 24/7 security camera monitoring,

on-site medical care through the Healing Shepherd Clinic, and

on-site case management provided for all residents—including many supportive services provided by UGM-TC and unique to affordable housing.

It is expected to house its first resident by the end of 2019.

The development will cost $19 million to complete, $12 million of which is funded by housing tax credits, the National Housing Trust Fund, and the Affordable Housing Program.
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.

Apartment approval for NE Odessa

ODESSA (Midland Reporter-Telegram) – The Planning and Zoning Commission has approved a site plan for an apartment project on the northeast side of the city.

Parks Bell Ranch I will have ​622 units at the northeast corner of P Bar Ranch and Faudree Roads​.

The plan is for the first 326-unit phase.

The complex will be adjacent to Parks Bell Ranch master-planned development.

UT-Arlington opens two facilities for fall semester

ARLINGTON (Fort Worth Business Press) – The University of Texas at Arlington has opened two new buildings on the campus' west side.

West Hall is a $46.5 million, 534-bed residence hall. It is the first residence hall to open at UTA since 2012.

The Commons is a $21 million, two-floor, 39,000-sf dining and meeting facility.

Last spring, UTA opened the 1,500-unit West Campus Parking Garage​​​​ just north of The Commons.

Class A, come this way to NW Austin

AUSTIN (Austin Business Journal) – A significant expansion is coming to the far northwest office submarket at Paloma Ridge.

Ascentris LLC is working on a 160,000-sf expansion of a Class A office building at 13620 RR 620.

Once construction wraps up in late 2019, the entire complex will total roughly 371,000 sf across three buildings.

The design includes a high-end fitness center with “spa-quality” locker rooms, a one-mile jogging trail, and outdoor amenity areas.

Rents will likely be around $25 to $29 per sf, before triple-net fees.​
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Let's get Technical

ALLEN (REBusiness Online) – McCarthy Building Cos. Inc. has broken ground on the Collin College Technical Campus.

The building will be on 31.8 acres on the north side of Ridgeview Dr. near Alma Rd. It will include a 177,646-sf building for trade studies and a 151,000-sf academic building.

With Collin County expected to add 300,000 new jobs by 2040, the curriculum will target trade vocations.

Additional features will include a 23,700-sf conference building, a 42,000-sf classroom to be shared with the Allen Independent School District, and a 600-space underground parking garage.

The campus is expected to serve more than 4,000 students.​

Completion is slated for summer 2020. 

On a Mission: industrial property acquired

MISSION (Connect Media) – A 17.9-acre industrial property has been acquired by STAG Industrial Inc.

The 270,084-sf building at 802 Trinity St. serves as a logistics and manufacturing facility. 

It was built in 1998 and previously owned by Colimar Inc.​

480 Ram beds sold in San Angelo

​​​SAN ANGELO (REBusiness Online) – Angelo Place, a 120-unit, 480-bed student housing project near Angelo State University, has been sold.

Built​ in 2007, the property is at 1426 Western Ct. 

Austin-based FourPoint Student Housing Investments represented the seller, Atlas Real Estate Partners. ​​
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=208
RECON for September 11, 2018RECON for September 11, 2018Bryan PopePope
2018-09-11T05:00:00Z2018-09-11T05:00:00Z

Real Estate Center Online News
cotton field at sunrise
Rural land price data for Louisiana, Alabama, and Mississippi are now available exclusively on the Real Estate Center's website. The information is available to the public for free. (Photo from Center files.)
September 11, 2018

REC exclusive: rural land data for Alabama, Louisiana, Mississippi

​​COLLEGE STATION (Real Estate Center) – Rural land data for Alabama, Louisiana, and Mississippi are now on the Real Estate Center’s website.

The new data can be narrowed by region and county and go back to fourth quarter 2005.

“We are providing the only data of its kind for those states,” said Center Research Economist Dr. Charles Gilliland. “It's a public service we provide at no cost.”

This information is in addition to rural land data for Texas, its regions, and its land market areas going back to fourth quarter 1971.  

Visit the rural land data page on the Center's website to see what information is available. ​
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$70M to UTSA downtown expansion

SAN ANTONIO (San Antonio Business Journal) – Two new structures are coming to the University of Texas at San Antonio after the approval of $70 million in funding by the UT System Board of Regents.

One of the planned structures is the 80,000-sf National Security Collaboration Center, which will have innovation, laboratory, and research facility space. The $33 million facility will serve as a hub for government, university, and industry partners in the cybersecurity field.

Also proposed is a​ $57 million facility for the school of data science. The 138,000-sf building will be home to several existing departments, including computer science, computer engineering, statistics and data sciences, information systems, cyber security, and the university’s Open Cloud Institute.​
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. 

Temple turning 169 acres to homes

TEMPLE (Temple Daily Telegram) – A rezoning request for the property at North Pea Ridge Rd. and Alabama Ave. has been approved for a new 169-acre subdivision.

​Previously zoned for agriculture, the development is part of the Lake Pointe subdivision, which will include several hundred homes when complete.

While the subdivision will have a primary access point on North Pea Ridge Rd., developer WBW Development has purchased land for an entrance from SH 317.​​​
Join Us For Our Next Facebook LIVE September 27, 2018 at 10am We will be discussing how to comply with our advertising, IABS and Consumer Protection Notice rules when using social media. Join our very own General Counsel, Kerri Lewis, as she goes over the rules, and how to make sure your social media is in compliance!

ERS office tower to rise downtown

AUSTIN (Austin Business Journal) – The Employees Retirement System of Texas (ERS) will break ground in late 2018 or early 2019 on a new 200,000-sf tower.​

Neighboring the University of Texas at 200 E. 18th St., the nine-story building will replace a single-floor structure already onsite.

ERS will take up roughly 10 percent of the 192,000 sf of office space. There will also be 15,000 sf of retail and three levels of parking, including one underground level.

The existing ERS building adjacent to the new structure will remain.
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. 

City sets aside $60M for Frost Tower fixer-upper

SAN ANTONIO (The Rivard Report) – After purchasing the Frost Bank tower for $52 million in 2016, the city has committed $59.5 million to renovate its staff’s future home.

The 445,600-sf, 22-story tower at 100 W Houston St. was built in 1975.

The city will occupy 378,000 sf and lease the rest.

Current tenant Frost Bank is moving into its new 23-story glass tower across Houston St. after its summer 2019 completion. Once Frost employees move, renovations will begin.

City employees will begin moving in 2020 and should all be relocated by spring 2021. The tower will accommodate about 1,400 staffers.​

Ambassador Row property sells in Brookhollow

DALLAS (Connect Media) – ML Realty Partners has acquired a 185,220-sf industrial building in the Brookhollow submarket. 

The facility at 7601 Ambassador Row is fully leased to ​Leonard Mobility and Hobi​ International Inc. 

The seller was FESI Ambassador Row LP, which had owned the asset since early 2017
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Forward Air leases 289,200 sf in Humble

​HUMBLE (Realty News Report) – ​​Forward Air Solutions has leased 289,000 sf of industrial space from the Adkisson Group.

The facility​ on 21 acres at 18727 Kenswick Dr. includes four acres of trailer parking. A 132,00​0-sf expansion is planned. 

Lee & Associates represented the landlord. Fischer Co. represented the tenant. 

Multifamily Hub changes hands near downtown

DALLAS (Berkadia) – California-based Greenlaw Partners has purchased two multifamily properties totaling 624 units from Firestone MLP.

The Montage Apartments at 5414 Cedar Springs Rd. includes a pool, a laundry room, and gated access.

The Hub Apartments at 3136 Hudnall St. includes three pools, a courtyard, and gated access.

Both properties feature one-, two-, and three-bedroom floor plans across a combined 17.56 acres.

The communities are accessible via the Dallas North Tollway and are less than five miles north of downtown.​​​​
Communication Matters video seriesIn a series of four videos, the Real Estate Center at Texas A&M University explores what it takes to be an effective communicator. The presenter is Mays Business School Executive Professor John Krajicek.

To market, to market: Houston industrial property's new owner

​​​HOUSTON (NAI Partners) – A 125,000-sf industrial property at 8203 Market St. has been sold to 8203 MSR Properties LLC.

Belvoir Real Estate Group represented the buyer. NAI represented the seller, The Marston Companies' 8203 Market Street Road LLC. ​​

Platinum Corridor apartments sold

​FRISCO (Connect Media) – The Bascom Group has acquired Jefferson Stonebriar, a newly built, 424-unit ​multifamily community, from developer JPI. 

The Class A property consists of three residential buildings spread across nine acres. It is within the Platinum Corridor.​

Community amenities include a clubhouse, fitness center, theater room, pool, conference room, pet park, and a picnic area with an outdoor fireplace.
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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.
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RECON for September 7, 2018RECON for September 7, 2018Bryan PopePope
2018-09-07T05:00:00Z2018-09-07T05:00:00Z

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Center Graphic Designer Alden DeMoss and Art Director Bob Beals team greeted Texas A&M University - Mays Business School students, alumni, and staff at the college's 50th anniversary celebration in College Station today.
Center Graphic Designer Alden DeMoss and Art Director Bob Beals greeted Texas A&M University - Mays Business School students, alumni, and staff at the college's 50th anniversary celebration in College Station today. (Photo by Center Photographer JP Beato III.)
September 7, 2018

DFW dominates best real estate market rankings

​​​DALLAS (WalletHub) – Five North Texas cities have snagged spots on WalletHub’s list of America’s top ten real estate markets for 2018.

Frisco, McKinney, and Allen ranked first, second, and third, respectively. All three shared the highest scores in affordability and economic environment as well as top marks for real estate market heat.

Richardson and Denton ranked seventh and tenth, respectively.

Carrollton and Fort Worth also received high marks, ranking 12th and 15th.

The rest of the top ten rankings are: 
  • No. 4 Santa Clara, Calif.; 
  • No. 5 Durham, N.C.; 
  • No. 6 Murfreesboro, Tenn.; 
  • No. 8 Seattle; and 
  • No. 9 Bellevue, Wash. 
To determine this year's rankings, WalletHub compared 300 cities of varying sizes across 22 key indicators of housing-market attractiveness and economic strength.  
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Six new Tierra Grande digitial first articles are now in our Research Library. Click on the title to read them now.

Late summer upswing in Smith County home sales

SMITH COUNTY (Tyler Morning Telegraph) – Home sales across the county in July were up by nearly a quarter from sales in June, according to the Greater Tyler Association of Realtors.

Sales increased by 22.9 percent, up 28.8 percent from July 2017.

Last month, 295 homes were sold in Smith County, an increase from 240 in June and 229 in July the prior year.

Meanwhile, the median home price in the county increased 1.6 percent to $214,900.

Year-to-date closings this year are roughly on with last year’s numbers: 1,552 closings through July 2018 vs. 1,554 through July 2017.

The average number of days on market for homes in the county fell to 52, while the market held the 5.4 months inventory. 
It's not clickbait; the Center's social media had a great year. Center Communications Specialist Hayley Rieder explains in this week's Mixed-Use blog.

DFW multifamily construction follows population, job boom

​​​​​DALLAS (JLL) – North Texas’ multifamily pipeline remains robust to accommodate the region’s fast growing population driven by the 122,000 jobs added in the last year. 

In 2016 and 2017, a combined 51,000 units were delivered.  

These properties—which are either stabilized or in late-stage lease-up—currently average 17.1 percent vacancy.  

Based on the pipeline for the remainder of this year, 2018 deliveries should total almost 31,000 units, with a similar level scheduled to hit the market in 2019.  

Development focus continues to be in central Dallas, where half of the development pipeline—28,000 units—are under construction, although all parts of Dallas and Fort Worth are active.
Outlook for the Texas Economy cover
Texas' economic expansion continued in July 2018 amid increased energy sector and construction activity, but growth moderated to more sustainable levels. Get the full story in the latest Outlook for the Texas Economy report by Research Economist Dr. Luis Torres, Research Associate Wesley Miller, and Student Intern Paige Woodson. Don't forget to subscribe to email notifications so you know every time this publication is released. 

Home flipping cools off for the summer

​​​IRVINE, Calif. (ATTOM Data Solutions) – Homes flipped in second quarter 2018 yielded​ an average gross return on investment (ROI) of 44.3 percent, the lowest since third quarter 2014, according to an ATTOM Data Solutions report. 

Last quarter, the average ROI was 47.8 percent. It was 50 percent in second quarter 2017. 

The report shows 48,768 single-family homes and condos were flipped last quarter, 5.2 percent of all sales. That's down from 6.6 percent in Q1 2018 and 5.4 percent in Q2 2017.

Homes flipped sold for an average of $65,520 more than what they were purchased for, down from $69,000 over the year. The first quarter saw an all-time high average profit of $69,500.
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On today's podcast, we unveil a new Real Estate Center home price index coming this fall. Center Senior Data Analyst Joshua Roberson joins the conversation. Plus, we have news from Plano, Sherman-Denison, College Station-Bryan, and more. Take a listen.(17 min. 54 sec.)

Former Chevron land to become 1.39M-sf development 

KATY (Houston Business Journal) – Four years after purchasing it, Chevron has sold 103 acres at Clay Rd. and SH 99 to Houston-based Landmark Industries.

Just days after the initial sale, Landmark sold 77.9 acres to Indianapolis-based Duke Realty Corp., which will develop a five-building, 1.39 million-sf industrial complex. 

Landmark retained ownership of the remaining 25.27 acres.
Looking for more real estate news? Our NewsTalk Texas feed has all the latest headlines. Here's a sample:

$148M Industrial portfolio sold—includes Dallas, Houston properties

RICHARDSON, HOUSTON (Commercial Property Executive) – Exeter Property Group has acquired a 20-building, Class A, light industrial portfolio from Adler Real Estate Partners for $148 million.

The 1.3 million-sf portfolio consists of Cardinal Park in Richardson, Shopton Ridge in Charlotte, N.C., and three Houston properties—Bammel Business Park, Business Center at Park 10, and Legacy Park.

HFF marketed the property on behalf of the seller.
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.

Plano data center sells in three-building deal

PLANO (Dallas Morning News) – Dallas-based Lincoln Rackhouse and Principal Real Estate Investors have purchased a 454,000-sf data center on Coit Rd. as part of a three-building, ​​1 million-sf portfolio. 

The local building is the largest in the portfolio. The other two are in Phoenix and Kansas City, Mo. ​

All three buildings recently underwent $200 million in upgrades, according to the buyer.

TerraCap picks up The Addison

​ADDISON (Connect Media) – TerraCap Management LLC has acquire​d The Addison from Frontier Equity and Artemis Real Estate Partners.

The 11-story, 213,585-sf office building at 14951 N. Dallas Pkwy. is 83 percent leased. It was renovated in 2016. 

CBRE arranged the transaction and secured buyer financing from NXT Capital. ​​
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Light's on: Rehab project gets final HDRC approval

​​​​​SAN ANTONIO (Transwestern) – The Historic and Design Review​ Commission has approved the adaptive rehabilitation of the Print Building.​ ​

The 140,000-sf project at 420 Broadway St. is part of GrayStreet Partner's Light Building project. 

It is expected to deliver by second quarter 2019. ​

Cutten up a 122K-sf industrial deal

HOUSTON (NAI Partners) – Western Post USA has leased 122,200 sf at the Cutten Road Distribution Center at 11833 Cutten Rd. 

This is the first tenant in the newly constructed distribution building.

NAI Partners represented Western Post in the deal.​
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Tarantino makes its Ascension on the Bayou

​​​HOUSTON (Realty News Report) – ​​Tarantino Properties has acquired the 280-unit Ascension on the Bayou.

Completed in 2017, the mid-rise community at 150 W. Sam Houston Pkwy. is 95 percent occupied. It is LEED Silver​ certified and offers one- and two-bedroom units. 

Colliers International represented the seller. HFF secured financing for the borrower. 

Republic Deer Creek Apartments sold

​​​​​FORT WORTH (Multifamily Biz) – HLC Equity has purchased the 336-unit Republic Deer Creek Apartments. 

The Class A community at 10600 Bilsky Bay Dr. was constructed​ in 2012. 
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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.
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