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RECON for December 9, 2022RECON for December 9, 20222022-12-09T06:00:00Z2022-12-09T06:00:00Z
RECON Texas Real Estate Research Center
COVID graph
Prices aren’t the only things that changed for housing during the pandemic. The physical characteristics that buyers looked for in houses also changed, and in predictable ways. Read more in "Things Change: COVID, Composition Effects, and Homebuyer Preferences." (Image from Center files.)
December 9, 2022

Texas housing manufacturers expect rebound in early 2023

COLLEGE STATION (Texas Real Estate Research Center) – After booming during the COVID-19 pandemic, the manufactured-housing correction continued as business activity slipped for the eighth consecutive month, according to the November edition of the Texas Manufactured Housing Survey.  

All respondents noted a decrease in month-over-month sales, and the production index remained in negative territory. The number-of-employees index fell to its lowest level on record, indicating payroll reductions as manufacturers adjusted operations, and average work weeks fell accordingly. 

"Activity in the overall housing sector has stalled as a result of the Federal Reserve’s interest rate increases, and manufactured housing is not immune to the slowdown," said Dr. Harold Hunt, research economist for the Texas Real Estate Research Center. "The consensus is that rate hikes will continue into 2023, albeit at a slower pace, resulting in a generally negative short-term outlook for housing and housing-adjacent industries."

Despite current challenges, optimism over the next six months turned positive across multiple indicators. Manufacturers anticipate activity to rebound in 2023 through higher sales and production, and out-of-state shipments should pick up after stalling since May.

"Sales to retailers are subdued by downstream inventory constraints, particularly as floor plan lenders pulled back overage amounts and credit dried up earlier this year," said Rob Ripperda, vice president of operations for the Texas Manufactured Housing Association. "Fortunately for manufacturers, end-consumer sales are holding up relatively well and are still on pace to finish the year above 2021 levels. Higher housing costs across the board appear to be pulling consumers into the manufactured-home market, and the industry’s affordability advantage remains a source of optimism."   

Manufacturers anticipate additional supply-chain smoothing, leading to lower costs for raw materials and downward pressure on sale prices. While the clouds may be clearing for a rebound in early 2023, looming regulatory changes and general macroeconomic uncertainty remain the primary headwinds to the industry.
Texas Housing Insight graphic
Read more in the latest Texas Housing Insight.

1,400 acres in Magnolia becoming new-home community

​​​MAGNOLIA (Total PR) – Johnson Development and IHP Capital Partners ​have purchased the initial phase of what will become a 1,400-acre new-home community. 

The tract is near the intersection of SH​ 249 and FM 1486.

The community will accommodate up to 3,700 units in a mix of single-family homes and townhomes. Builders will receive lots in late 2024.

The Nelson Company brokered the land sale.

​The project is the joint venture's second development together.
Helping Texans make the best real estate decisions since 1971

Florida manufacturer signs 626K-sf industrial lease in Mesquite

​​​MESQUITE (REBusiness Online) – Florida-based Masonite International Corp. has signed a 626,718-sf lease at Mesquite Airport Logistics Center, a multi-phase industrial park at 4180 E. Scyene Rd.

Masonite will occupy all of Building 2, which was part of Phase I of the 2.3 million-sf development.

Construction of the two-building second phase has begun and will be complete next year.

Stream Realty Partners represented the landlord, Dalfen Industrial, in lease negotiations. 

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Sure, you know real estate. But just how much do you really know about the Texas Real Estate Research Center? Take this trivia challenge to find out. Tell us how you scored on social media with the hashtag #TRERCiq. 

700K-sf apartment tower rising in The Domain

​​​AUSTIN (Connect CRE) – Trammell Crow Company is developing a 20-story apartment tower in The Domain.

The $145 million project will span 700,000 sf across 416 units.

Amenities will include a fitness center, amenity deck, and clubroom. 

ESG designed the building. Construction begins in April 2023 and will take two years.
In Other News: From the NewsTalk Texas feed
Looking for more real estate news? Our NewsTalk Texas feed has all the latest headlines. Here's a sample:

Mazaheri snags Fort Worth retail power center

​​​​​​​FORT WORTH (REBusiness Online) – The Shops at Chisholm Trail Ranch, a 213,416-sf retail power center at the intersection of Chisholm Trail Pkwy. and McPherson Blvd., has been sold.​​

Completed in August ​2020, the center was 97.5 percent leased at the time of sale.​

JLL represented the seller, StreetLevel Investments. Price Edwards & Co. represented the buyer, Mazaheri Properties.
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Blakefield planning 2,200-acre community near Lake Travis

​​AUSTIN (Connect CRE) – Blakefield is developing Thomas Ranch, a 2,200-acre master-planned community near Lake Travis.

The multi-phase project wi​ll have thousands of homes, apartments, a resort hotel, and 250,000 sf of retail, dining, and office services.

Construction begins in 2023.
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$50 million factory coming to El Paso

​​EL PASO (El Paso Inc.) – Novipax has broken ground on a 210,000-sf factory at 13829 Gateway W.

The $50 million project will create 130 jobs.

The facility will be fully operational by June 2023.​​

Friendswood medical building tops out

​FRIENDSWOOD (Houston Business Journal) – Tannos Development Group has topped out a four-story, 106,000-sf medical office building at 1715 S. Friendswood Dr.

The $23 million downtown building will be ready for ​buildout by April.
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Copyright © *|CURRENT_YEAR|*, 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 Wiley. The Texas Real Estate Research Center is part of the Division of Academic and Strategic Collaborations at Texas A&M University in College Station - the heart of the Research Valley. 

https://www.recenter.tamu.edu/news/recon/?Item=631
RECON for December 6, 2022RECON for December 6, 20222022-12-06T06:00:00Z2022-12-06T06:00:00Z
RECON Texas Real Estate Research Center
Rural Texas
Demand for rural Texas land surged in the wake of COVID-19 and unrest in the state’s urban centers. Two years later, the market appears to have settled down again. What questions are economists asking going into 2023? Our land experts share their thoughts. (Photo from Center files.)
December 6, 2022

$3B Frisco mixed-use project starting this month

FRISCO (REBusiness Online) – StreetLights Residential is building The Mix, a $3 billion mixed-use project at the intersection of Dallas Pkwy. and Lebanon Rd.​

The 112-acre project will include:
  • two million sf of office space, 
  • 375,000 sf of retail space, 
  • three million sf of residential development,
  • a 400-key business hotel, 
  • 200-key boutique hotel, and 
  • 20 total acres of green space.
The Mix will have 20 total acres of green space, including a nine-acre central park with a pond, promenades, playground, performance pavilion, and event lawn. 

Work starts this month on the first phase. Full completion is slated for 2026.

The project team includes master-plan architects Torti Gallas + Partners and CallisonRTKL, planning and design engineer Kimley-Horn, and central park designer OBJ Landscape Architecture.

Retail Connection will handle leasing for the retail component,​​ and JLL will lease the office and medical space.
hello! hola!
The English-Spanish Real Estate Glossary defines, translates, and explains 787 real estate terms. Just click on the translated term and hear it spoken in Spanish. It's a must-have for anyone with Spanish-speaking real estate clients. 

Pelican Builders starting Houston condo project in 2023

​​​​HOUSTON (Realty News Report) – Pelican Builders will build an eight-story condominium project at 2419 Mimosa Dr. called The Lexington.

Prices will start at $1.7 million. There will be four penthouses starting at $4.3 million. 

The complex will have 114,000 sf of residential space on six floors. There will also be two levels of above-ground parking.

Amenities include a high-end lobby, 24-hour concierge services, and valet parking.

Construction begins in first quarter 2023 and will take 18 months.
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New Braunfels senior housing project opens

​​​​​​NEW BRAUNFELS (Multi-Housing News) – Imprint Property Group has opened Larkspur at Creekside, a 184-unit senior housing complex at 2828 Sophie Ln.

The community has one- and two-bedroom apartments and two-bedroom cottag​es. Rents range from $1,600 to $3,206.

Amenities include a pool, fitness center, and outdoor courtyards with sports courts, a kitchen, lounge, and coffee bar.

Denver Capital Management handled construction. Zions Bank provided a $24.8 million loan.
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. 

900K-sf Lewisville business park sold

​​​​​LEWISVILLE (REBusiness Online) – Bison Grove Business Park, a 900,000-sf industrial complex at 810 W. Round Grove Rd., has been sold.

Built on 62 acres, the development has four buildings with 32-ft clear heights and ESFR sprinkler syst​ems. The project was 78 percent leased at the time of the sale.

CBRE represented the buyer, CenterPoint Properties.
Mark your calendars: the 32nd Annual Outlook for Texas Land Markets conference will be April 13-14, 2023, in San Antonio. Registration opens early next year, so stay tuned.

1.1M-sf business park on the way to Georgetown

​​​​GEORGETOWN (Community Impact Newspaper) – The W.D. Kelley Foundation is developing Bridge Business Park, a 1.1 million-sf development at 5501 S. I-35.

The 92.2-acre campus will have office and flex space across seven buildings. There will also be an outdoor amenity space and 1,500 parking spaces.

Construction begins next year.
Magnifying glass in librarySearching for reliable and accurate real estate and economic papers can be time consuming. The Texas Real Estate Research Center is here to help. Access our Research Library for a nearly endless database of economic reports, research articles, and technical papers. Get it all in one place completely free. 

High Street Residential opens Houston luxury high rise

​​​​HOUSTON (Houston Agent Magazine) – High Street Residential has opened Parkside Residences, a luxury multifamily high rise at 808 Crawford St.

The 43-story tower has one-, two-, and three-bedroom floor plans.

Amenities include a fitness ​center, coworking spaces, rooftop pool, and valet parking. 
Helping Texans make the best real estate decisions since 1971.

Plans revealed for Lockhart Industrial Park 130

​​​​LOCKHART (Austin Business Journal) – Titan Development Ltd. is developing Lockhart Industrial Park 130, a 170,000-sf industrial project.

The four-building speculative development will be on roughly 57 acres near SH 130. 

Construction begins in the next few weeks.
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Copyright © *|CURRENT_YEAR|*, 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 Wiley. The Texas Real Estate Research Center is part of the Division of Academic and Strategic Collaborations at Texas A&M University in College Station - the heart of the Research Valley. 

https://www.recenter.tamu.edu/news/recon/?Item=630
RECON for December 2, 2022RECON for December 2, 20222022-12-02T06:00:00Z2022-12-02T06:00:00Z
RECON Texas Real Estate Research Center
When Disaster Strikes
The frequency and intensity of natural disasters like hurricanes and wildfires are expected to increase this decade. Wesley Miller, author of the Texas Real Estate Research Center's newest blog series, joins us in the Red Zone to discuss the financial hardships a natural disaster leaves in its wake.
December 2, 2022

Tailwind Group picks up 628 Aggie beds

COLLEGE STATION (REBusiness Online) – Tailwind Group has purchased Campus Crossings on Marion Pugh, a 628-bed student housing complex at 800 Marion Pugh Dr.

The asset has one- and two-be​droom units ranging from 694 to 930 sf.

Amenities include two pools; volleyball, tennis, and basketball courts; clubhouse; business center; dog park; fire pits; and barbeque grills.

Tailwind Group will update the property and rebrand it as ​​The Landing at College Station. 

Campus Apartments was the seller. Berkadia brokered the deal. 
Texas Border Economy
Read more in the latest Texas Border Economy.

Work begins on Selma 3 spec industrial

​​​​SELMA (REBusiness Online) – Titan Development and Robinson Weeks Partners have started on Selma 3, a 429,633-sf speculative industrial project. 

The project will be on 25 acres ​​in the 185-acre Titan Industrial Park.

Building features will include 36-ft clear heights, 98 dock doors, 232 parking spaces, 119 trailer parking stalls, and four drive-in ramps.

Construction wraps in third quarter 2023.​
Annual Report + 2023 Calendar Giveaway
Today is the last day to enter the Center's Annual Report + Calendar giveaway. For a chance to get your hands on the 2023 edition of the calendar (while supplies last), take a three-question survey by 5:00 p.m. CST this Friday, Dec. 2. Enter here

Dallas office complex swaps hands

DALLAS (REBusiness Online) – Towers at Park Central, an 875,000-sf office complex at 12790 Merit Dr., has ​been sold to Morning Calm Management.

Amenities include a conference facility with training rooms, fitness center, tenant lounge, and onsite food options.

Tenants include SCP Health, Dais Brand, and Arthur J. Gallagher, among others.

Newmark will handle leasing.
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UTSA continues downtown expansion

​​​SAN ANTONIO (Connect CRE) – The University of Texas at San Antonio is developing San Pedro II, a 180,000-sf downtown ​building dedicated t​o interdisciplinary and collaborative programs in business, engineering, and sciences.​

Overland and Gensler designed​​ the project.

Construction on the $124​​​ million project begins in summer 2023. 
In Other News: From the NewsTalk Texas feed
Looking for more real estate news? Our NewsTalk Texas feed has all the latest headlines. Here's a sample:

Completion in sight for 31-story Congress Ave. hotel

​​​​AUSTIN (REBusiness Online) – McWhinney is nearing completion on the Hyatt Centric Congress Avenue Austin, a 31-story hotel at 721 Congress Ave.

The hotel will have 246 rooms, five suites, and 2,560 sf of meeting and event space.

Nelsen Partners designed the project, which will open in February 2023.
Helping Texans make the best real estate decisions since 1971.

108K-sf Fort Worth industrial building sold

​​​FORT WORTH (REBusiness Online) – A 108,951-sf industrial building at 1000 N.E. 28th St. has been sold.

The property was built in 1963 on 9.4 acres.

Marcus & Millichap represented the seller.

Pulte Homes picks up 80 acres in Montgomery

​​​​MONTGOMERY (Community Impact Newspaper) – Pulte Homes has purchased 80 acres on FM 1097 for a single-family development.

There will be 309 50-ft lots. 

Colliers represented the buyer.
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Copyright © 2022, 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 Wiley. The Texas Real Estate Research Center is part of the Division of Academic and Strategic Collaborations at Texas A&M University in College Station - the heart of the Research Valley. 

https://www.recenter.tamu.edu/news/recon/?Item=629
RECON for November 29, 2022RECON for November 29, 20222022-11-29T06:00:00Z2022-11-29T06:00:00Z
RECON Texas Real Estate Research Center
Woman holding floorplan
In 2021, the U.S. Court of Appeals for the Eighth Circuit ruled that real estate professionals can't use floor plans for marketing purposes without proper authorization. Texas falls under the Fifth Circuit, so the ruling does not currently apply. That could change. Read more in "Whose Plan Is It Anyway? Floor Plans and Copyright Laws." (Photo from Center files.)
November 29, 2022

Goldman Sachs getting new Dallas office

​​DALLAS (Dallas Morning News) – Hunt Realty Investments is building a $500 million office project on Field St. near downtown. 

Called Project Meadow, the 980,000-sf office will house thousands of workers for Goldman Sachs. It will include nine- to 15-story towers on three acres next to a new 1.5-acre park. 

It is part of the first phase of Hunt's 11-acre redevelopment project. 

Architects Henning Larden and Hart Howerton are on the project team.

Construction begins in February. Opening is slated for April 2026.
Outlook for the Texas Economy - September 2022 Summary
Read more in the Center's latest Outlook for the Texas Economy.

419-unit multifamily property in Dallas sold

​​​DALLAS (REBusiness Online) – McCallum Communities, a 419-unit multifamily property at 7740 McCallum Blvd., has been sold.

The community has one- and​ two-bedroom units.

Amenities include a pool, fitness center, playground, and outdoor grilling and dining areas.

Triad Real Estate Partners and Worldwide Commercial represented the seller, a Texas private investment firm. The buyer is based out of New Hampshire.
Annual Report + 2023 Calendar Giveaway
The Center's Annual Report + Calendar giveaway is back again! For a chance to get your hands on the 2023 edition of the always popular calendar (while supplies last), take a three-question survey by this Friday, Dec. 2. Enter here. No purchase necessary.

The Woodlands Mall undergoing $100M expansion

​​​THE WOODLANDS (Houston Business Journal) – The Woodlands Mall is undergoing a two-phase, $100 million expansion.

Plans call for ​an op​en-air, mixed-use commercial center with at least 80,000-sf of retail space, a 200-room full-service hotel, a 125-room select-service hotel, and 1,200-spot multilevel parking garage.​

The first phase includes 45,000 sf of retail space and at least one of the hotels.

The phases will deliver in 2028 and 2033.​
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. 

Rental community opening near Fort Worth Stockyards in 2025

​​​FORT WORTH (Dallas Morning News) – Kairoi Residential will build a $35 million apartment community near the historic Stockyards.

The project will include 400 units across five buildings. It will be on 19 acres on Exchange​ Ave. ​

Amenities will include a fitness center, pool, courtya​rd, and sky lounge leasing office.

Construction begins in January and will wrap up​ in 2025.
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JV developing 1.7 million-sf Austin industrial park

​​​AUSTIN (REBusiness Online) – Hines and Galesi Group are​ developing a 1.7 million-sf industrial park at the corner of Harris Branch Pkwy. and Parmer Ln.

Phase one of the 150-acre project will have three buildings totaling 315,000 sf.

Powers Brown Architecture designed the development.
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.

Vertical Ventures picks up DFW office portfolio

​​​F​ORT WORTH (Dallas Morning News) – Vertical Ventures has purchased two office buildings totaling 230,00​0 sf in CentrePort​ south of Dallas/Fort Worth International Airport​.

The first property is a 125,000-sf building built in 2000 at 14800 Trinity Blvd. The second property, built in 2007, is a 108,000-sf facility at 4950 Amon Carter Blvd.

Transwestern represented the seller, KDC.​
Helping Texans make the best real estate decisions since 1971.

Build-to-rent community opens in Galveston

​​​​​​​​GALVESTON (Houston Agent Magazine) – Wan Bridge has opened Palm Bay Galveston, a build-to-rent community at 3507 Tori Way.

The project has three- and four-​bedroom floor plans ranging from 1,708 sf to 1,836 sf.

Amenities include on-site maintenance and lawn service.
Free Land... Data! Texas, Louisiana, Alabama, Mississippi
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 © *|CURRENT_YEAR|*, 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 Wiley. The Texas Real Estate Research Center is part of the Division of Academic and Strategic Collaborations at Texas A&M University in College Station - the heart of the Research Valley.

https://www.recenter.tamu.edu/news/recon/?Item=628
RECON for November 22, 2022RECON for November 22, 20222022-11-22T06:00:00Z2022-11-22T06:00:00Z
RECON Texas Real Estate Research Center
Annual Report + 2023 Calendar Giveaway
The Center's Annual Report + Calendar giveaway is back again! For a chance to get your hands on the 2023 edition of the always popular calendar (while supplies last), take a three-question survey by Friday, Dec. 2. Enter here. No purchase necessary. 
November 22, 2022

Plastics plant headed to Orange

​​​ORANGE (Houston Business Journal) – Chevron Phillips Chemical Company LLC and QatarEnergy are building an $8.5 billion integrated polymers facility.

The plant will produce Marlex polyethylene, which is used in durable goods, recreational products, and food packaging. 

The facility will create 500 full-time jobs and 4,500 construction jobs. 

It is expected to generate around $50 billion for the community in residual economic impacts.

Operations will begin in 2026.
Mark your calendars: the 32nd Annual Outlook for Texas Land Markets conference will be April 13-14, 2023, in San Antonio. Registration opens early next year, so stay tuned.
Mark your calendars: the 32nd Annual Outlook for Texas Land Markets conference will be April 13-14, 2023, in San Antonio. Registration opens early next year, so stay tuned.

325-acre Greenville mixed-use development to break ground next year

​​​​​​​GREENVILLE (Cooksey Communications​) – Wildcatter Realty Partners is developing The Greenbelt, a 325-acre master-planned project.

The mixed-use development will include residential, commercial, cultural, institutional, and entertainment uses.

Amenities will include hike and bike trails, family-friendly parks, water features, natural wooded areas, and a disc golf course.

Groundbreaking is set for first quarter 2023.
The Texas Real Estate Research Center will close at noon on Wednesday, Nov. 23, for our fall break. We will reopen Monday, Nov. 28. Happy Thanksgiving!

Indoor farm planted in San Antonio

​​​​SAN ANTONIO (Connect CRE) – Soli Organic is building a high-tech, automated indoor produce farm and packing facility in the Brooks community.

The farm will have 100,​000 sf of growing space, including six vertical production layers, and 40,000 sf of process space. 

​It will create 100 jobs.
hello! hola!
The English-Spanish Real Estate Glossary defines, translates, and explains 787 real estate terms. Just click on the translated term and hear it spoken in Spanish. It's a must-have for anyone with Spanish-speaking real estate clients. 

Sabre HQ swaps hands in Southlake

​​SOUTHLAKE (REBusiness Online) – A five-story, 265,942-sf office building at 3150 Sabre St., has been sold.

The facility has serve​d as Sabre's headquarters since 2002.

Amenities include a cafeteria, outdoor courtyard, and fitness center.

JLL represented the seller, PCCP LLC, and arranged acquisition financing for the buyer, BDP Holdings.
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. 

Waco's Lake Air Shopping Center sold

​​​WACO (REBusiness Online) – Lake Air Shopping Center, a 214,625-sf retail property, has been sold. 

The center was 85 percent leased to tena​nts such as Dollar Tree, Melrose, Tuesday Morning, Twin Liquors, AT&T, Starbucks Coffee, and Domino’s Pizza. 

CBRE and Coldwell Banker Commercial arranged the sale.
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Logistics facility coming to Pearland

​​​PEARLAND (Realty News Report) – Levey Group has acquired 38 acres near the intersection of S. Sam Houston Pkwy. and Almeda School Rd.

The land will be home to a two-building, 650,000-sf industrial project called Levey Logistics Park.

Construction starts in fourth quarter 2023. 
Magnifying glass in librarySearching for reliable and accurate real estate and economic papers can be time consuming. The Texas Real Estate Research Center is here to help. Access our Research Library for a nearly endless database of economic reports, research articles, and technical papers. Get it all in one place completely free. 

143K-sf self-storage facility sold in Royse City

​​​​​ROYSE CITY (Marcus & Millichap​​) – Easy Storage Solutions, a 143,560-net-rentable-sf self-storage at 7451 FM 35, has been sold.

Marcus & Millichap marketed the property on behalf of the seller and secured the buyer.​​
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Copyright © *|CURRENT_YEAR|*, 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 Wiley. The Texas Real Estate Research Center is part of the Division of Academic and Strategic Collaborations at Texas A&M University in College Station - the heart of the Research Valley. 

https://www.recenter.tamu.edu/news/recon/?Item=627

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