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RECON for December 7, 2021RECON for December 7, 20212021-12-07T06:00:00Z2021-12-07T06:00:00Z
RECON Texas Real Estate Research Center
Where Does it Hurt?
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December 7, 2021

Truck driver shortage exacerbating manufactured homes supply-chain bottleneck

COLLEGE STATION (Texas Real Estate Research Center) – Production of manufactured homes increased for the sixth straight month and shows no signs of slowing despite worsening bottlenecks in the supply chain and contractions in the pool of skilled labor, according to the latest Texas Manufactured Housing Survey (TMHS).

"A backlog of ships has built up at the ports of Los Angeles and Long Beach despite efforts to increase container flow," said Dr. Harold Hunt, research economist at the Texas Real Estate Research Center at Texas A&M University.

However, Hunt said the more critical problem is the lack of truck drivers. The American Trucking Association reports a record shortage of drivers, with recent estimates of 80,000 unfilled jobs.

"A number of factors are at play for the shortage, including the retirement of older drivers, a lack of female drivers, and higher demand for time at home," Hunt said. "As a result, bottlenecks at ports are expected to continue well into next year."

TMHS respondents unanimously experienced rising raw-material costs, resulting directly from upstream supply issues.

The manufactured-housing industry struggled similarly on the employment front, with labor-supply contractions occurring during the economic recovery. Manufacturers have expanded payrolls throughout the COVID-19 pandemic but have been forced to raise wages to attract qualified workers, said Hunt.

"Constraints on the supply-chain and labor fronts will transmit into higher prices for finished homes during a period of waning housing affordability," he said.

"With the median home price in Texas surpassing $300,000 this year, manufactured housing is positioned to provide quality homes well below that price in markets where their placement isn’t restricted by local zoning," said Rob Ripperda, vice president of operations for the Texas Manufactured Housing Association. "Manufacturers, however, are not immune to the rise in lumber prices that has occurred over the past three months, and with the Department of Commerce announcing the doubling on tariffs on Canadian softwood lumber next year, additional price pressure is in store."

Talk of tariffs and proposed changes to energy-efficiency requirements contributed to a higher reading in the TMHS’ regulatory burden index, said Ripperda. These factors combined with other challenges surrounding the COVID-19 pandemic to worsen the level of uncertainty across the industry.

"Demand projections, however, remain favorable, and manufacturers’ six-month outlook improved after dipping last month, prompting additional plans of investment and capital expenditures," he said.
Calf licking nose in fieldConversations with Texas land market appraisers and brokers revealed a complex mix of buyer motivations fueling an active land market going into fall 2021. Vigorous activity characterized market dynamics in nearly all areas of the state. Competition for a limited supply of land for sale pitted investors, developers, and end-users against each other, driving up prices. Read our synopsis of commentary by land market participants in specific regions of Texas.

Massive industrial park slated for Georgetown

GEORGETOWN (Austin Business Journal) – Green Point Property Co. is developing the 231-acre GTX Logistics Park at FM 972 and CR 141. 

The multiphase project will include more than three million sf of industrial buildings. 

The first phase will have a 409,822-sf cross-dock building with 560-ft building depth, 50-ft-by-60-ft speed bays, and 2,500 sf of office space. ​

Construction begins in 1Q2022 and will finish in the third quarter. 
Sketchy drawing of commercial buildingsThe Texas Real Estate Research Center's Texas Quarterly Commercial Report looks at past, present, and future commercial real estate activity in the state's four major metropolitan areas. It covers the office, retail, and warehouse sectors. Read and download the report for free, and subscribe to know when the next issue is published. 

Stoneleigh Apartments set sail with new Austin-based owner

CORPUS CHRISTI (REBusiness Online) – SWBC Real Estate has sold Stoneleigh Apartments to Austin-based GVA Management.

The 348-unit community at 5750 Curtis Clark Dr. was built between 2005 and 2008. In 2019, it underwent $3.3 million in renovations.

Amenities include three pools, a fitness center, clubhouse, and community room with kitchen.

Berkadia represented 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. 

Billingsley Co. to develop 235K-sf warehouse in North Dallas

​DALLAS (REBusiness Online) – Billingsley Co. is developing a 234,395-sf build-to-suit warehouse for Sherwood Bedding, a mattress manufacturer owned by Tempur Sealy. 

The property will be within the 1,700-acre Austin Ranch master-planned community. 

Construction begins in February and will be complete in March 2023. 

ESRP represented Sherwood Bedding in negotiations for the ten-year lease. Billingsley was represented internally. 
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Rabren starts on 865-bed student housing project

​​​AUSTIN (Austin Business Journal) – Rabren General Contractors has broken ground on 2513 Seton, a 215-unit student housing development at 2513 Seton Ave. 

The project will have studio to six-bedroom ​penthouse floor plans. 

Amenities will include a dog-washing station, coffee shop, pool and hot tub deck, rooftop lounge, and indoor and outdoor fitness areas. 

Lincoln Ventures is the developer. 

Construction will be complete in 2023.
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.

Saddle Creek Logistics inks 862K-sf industrial lease

FORT WORTH (REBusiness Online) – Saddle Creek Logistics has signed an 861,840-sf industrial lease at 11900 S. Freeway Service Rd.

The space, which has 40-ft clea​r heights and 120 dock doors, will become a distribution center. 

Newmark represented the tenant. CBRE represented the landlord, an entity doing business as FW I-35 Logistics 1 LLC.
Helping Texans make the best real estate decisions since 1971

Largest commercial land deal closes in College Station

​​​COLLEGE STATION (KBTX) – Pebble Creek Development Company has sold 42 acres at the southeast corner of SH 6 and William D. Fitch Pkwy. 

Stafford Barrett Commercial Brokerage arranged the sale. 

The sale is one of the largest commercial land transactions in the history of Brazos County.

Philadelphia-based investment company buys industrial portfolio

​​​HOUSTON (REBusiness Online) – Arden Logistics Group has purchased the 861,046-sf Hardy Light Industrial Portfolio.

The portfolio consists of 34​ multitenant warehouses along the N. Hardy Toll Rd. The seller owned the property since 2006.

JLL brokered the deal. Newmark arranged financing ​through Rialto Capital Management.​
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 © 2021, All rights reserved.
Material herein is published according to the fair-use doctrine of U.S. copyright laws related to non-profit, educational institutions. Items attributed to sources other than the Texas Real Estate Research Center at Texas A&M University should not be reprinted without permission of the original source. To send news items for consideration, e-mail Hayley Rieder Wiley. The Texas Real Estate Research Center is part of Mays Business School at Texas A&M University in College Station - the heart of the Research Valley.

https://www.recenter.tamu.edu/news/recon/?Item=524
RECON for December 3, 2021RECON for December 3, 20212021-12-03T06:00:00Z2021-12-03T06:00:00Z
RECON Texas Real Estate Research Center
Image of reverse mortgage application with money, calculator, pen, and glasses
Reverse mortgages are a financial tool that can benefit homeowners in certain situations. However, they carry many stipulations. Read "Home . . . A Loan: Reverse Mortgages" exclusively on the Texas Real Estate Research Center website. (Photo from Center files.)
December 3, 2021

Industrial construction reaches all-time high

HOUSTON (NAI Partners) – ​​Around 41.5 million sf of industrial space is under construction in Houston, Austin, and San Antonio combined, according to NAI Partners' latest report. 

Houston-The Woodlands-Sugar Land

Houston ranks among the top ten markets for industrial space under construction at 19.7 million sf as of 4Q2021, with half of that amount already spoken for.

This year has seen more than 22 million sf of net absorption, a record year for demand. Demand has been stimulated by growth in ecommerce and homebuilding, population growth, and increasing global energy demand as many economies start recovering from the worst of the pandemic.

Houston’s industrial hotspot that serves the Port of Houston accounts for 30 percent​​​ of projects currently under construction. 

Austin-Round Rock

Tesla’s new 4.5 million-sf Gigafactory represents almost 40 percent of the metro's industrial construction in the fourth quarter. Tesla’s relocation to Austin has also prompted Simwon, a supplier of body parts to Tesla, to open a 492,000-sf manufacturing facility in Kyle.

There are several other build-to-suits underway, including another Amazon distribution facility in San Marcos, a large facility for semiconductor manufacturer Applied Materials, and a research and development building for defense contractor BAE.

Less than 25 percent of the 12.1 million sf of space currently under construction remains available for lease.

San Antonio-New Braunfels

There is 9.7 million sf under construction in the San Antonio metro, including Amazon building or pre-leasing half of that​​. ​​The growing advanced manufacturing group in the South Submarket, anchored by Toyota Motor Manufacturing Texas and Navistar, accounts for a significant percentage of the other half.

The volume of signed lease transactions year-to-date nearing the end of November hit an all-time record at 11.5 million sf and is likely to surpass the prior period’s 11.8 million sf.

In total, 135 new and renewal building lease transactions of more than 10,000 sf have been signed year-to-date. 

With 1.8 million sf delivered since the beginning of the year, 9.7 million sf under construction, and an additional five million sf planned through 2022, the demand for industrial real estate continues unabated.
Outlook for the Texas Economy
Read the full Outlook for the Texas Economy report for more.

An old rivalry: Austin, College Station among nation's best college towns

WASHINGTON (WalletHub) – Austin and College Station have landed on WalletHub's list of the top ten college cities and towns in America.

Austin, home to the University of Texas' main campus among several other institutions, ranked first nationally. It was tenth in social environment, 23rd in academic and economic opportunities, and 209th in wallet friendliness. 

College Station, home to Texas A&M University's main campus, was tenth overall and sixth in the rankings of small cities (fewer than 125,000 people). It was 29th in wallet friendliness, 53rd in social environment, and 125th in academic and economic opportunities. 

Brownsville (University of Texas Rio Grande Valley regional campus), Edinburg (University of Texas Rio Grande Valley​ main campus), Laredo (Laredo College and Texas A&M International University), and McAllen (South Texas College) were first, third, fourth, and fifth in lowest cost of living for young people, respectively. ​​

The rest of the top ten rankings are:
  • No. 2 Ann Arbor, Mich., University of Michigan;
  • No. 3 Provo, Utah, Brigham Young University​;
  • No. 4 Orlando, University of Central Florida​; 
  • No. 5 Oxford, Ohio, ​Miami University;
  • No. 6 Gainesville, Fla., University of Florida;
  • No. 7 Scottsdale, Ariz., Scottsdale Community College;
  • No. 8 West Lafayette, Ind., Purdue University; and 
  • No. 9 Rexburg, Idaho, Brigham Young University​ - Idaho.
Texas Commercial Market 2021 Mid-Year Outlook
Which Texas commercial real estate sectors thrived during the pandemic? Which ones struggled? Were the state's major metros affected in the same way? How are commercial markets performing now? Three economists with the Texas Real Estate Research Center sit down together to tackle these questions and more. Watch the full video here.

StorageUnits.com: Two-thirds of Americans moved during pandemic

​​ADDISON (StorageUnits.com) – According to a survey by StorageUnits.com, 67 percent of respondents moved out of their homes between March 2020 and October 2021. 

Most people who moved cite​d the need for more space as the driving factor. Abo​ut 37 percent of respondents moved into larger homes, while only 6 percent downsized. 

The survey found that 39 percent of Americans moved because of remote work, with many looking for space for a home office. One-fourth of respondents were motivated to live in a different location, which was made possible by the flexibility of remote work. 

Financial hardship also pressured Americans to move. According to the survey, 21 percent of respondents moved because of pandemic-related financial setbacks. Of those who downsized, 33 percent cited money challenges. This concern was also the primary reason they moved in with family members (30 percent) or had no permanent residence (44 percent).

The relocation trend led to an increase in storage unit rentals. About 78 percent of people who moved rented storage units, and 40 percent plan to continue using storage space for ongoing needs.
Helping Texans make the best real estate decisions since 1971

TGS Cedar Point Partners break ground on new warehouses

BAYTOWN (Realty News Report) – TGS Cedar Port Partners has started construction on two ​spec buildings in TGS Cedar Port Industrial Park, the country's largest master-planned industrial park.

TGS Cedar Port DC 2 will be 4407 E. Grand Parkway S. It is expandable from 496,421 to 917,172 sf and will have over 1,000 employee parking spaces. Delivery is set for second quarter 2022. ​

TGS Cedar Port DC 3, located on Nita Way, will be expandable from 150,000 to 600,000 sf. It will open by third quarter 2022.

Powers Brown Architecture is the project architect, and E.E. Reed Construction LP is the general contractor. NAI Partners is handling leasing.

The 15,000-acre industrial development has around 10,000 acres left for sale, lease, or build-to-suit projects.
Texas Real Estate Research Center Total RECall - November 2021
November was a busy month for the Texas Real Estate Research Center. Last month, we released four research articles, five economic periodicals, a new episode of Texas Real Estate Research Today, and much more. Get caught up in the latest issue of Total RECall. Subscribe to the monthly newsletter here.

Samsung planning $17B semiconductor manufacturing facility

​​​​TAYLOR (REBusiness Online) – Samsung Electronics Co. Ltd is planning a $17 billion semiconductor manufacturing facility spanning more than 53 million sf. 

Construction begins in the first half of 2022 and will be complete in the second half of 2024. 

The project will create over 2,000 high-tech jobs. 

Samsung is also developing a skills center for the Taylor Independent School District. 
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:

Taurus buys 221K-sf office building

​​​​SAN ANTONIO (San Antonio Business Journal) – Taurus Investment Holdings has sold The Pyramid, a 22​0,820-sf office building at 601 N.W. Loop 410. 

An affiliate of Boyd Watterson Asset Management acquired the six-acre property. 

Stream Realty Partners is handling leasing.

130K-sf middle school slated for Mueller District

​​AUSTIN (REBusiness Online) – A partnership between Joeris General Contractors and the Austin Independent School District is building a 130,000-sf middle school at the former Mueller Airport. 

The property, which will be able​ to serve 800 students, will include a community room, library, gym, track and field complex, and dining commons. 

Construction will be complete in fall 2023. 
market viewer screen shotTexas Realtors' MarketViewer tool helps members and their clients quickly understand the market statistics in their area. This powerful tool is a member benefit available exclusively to Texas Realtors and local Realtor associations in Texas. Data are compiled and analyzed through a research agreement between Texas Realtors, the Texas Real Estate Research Center, and all MLSs across the state. 

Fidelis Realty Partners acquires Richmond retail center

​​​RICHMOND (JLL Capital Markets) – Fidelis Realty Partners LLC has purchased Shops of Bella Terra, a 271,157-​​sf regional retail center at 5472 W. Grand Pkwy. 

The 35.57-acre property was completed between 2008 and 2013.

JLL Capital Markets marketed the property for the seller.

Solo Brands opens 430K-sf HQ near DFW airport

​​​​​GRAPEVINE (REBusiness Online) – Solo Brands has opened a 430,000-sf headquarters office and showroom at 1001 Mustang Dr. 

Prologis developed the building as a spec project in 2020. 

ENTOS Design was the architect. JLL represented Solo Brands.
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Copyright © 2021, All rights reserved.
Material herein is published according to the fair-use doctrine of U.S. copyright laws related to non-profit, educational institutions. Items attributed to sources other than the Texas Real Estate Research Center at Texas A&M University should not be reprinted without permission of the original source. To send news items for consideration, e-mail Hayley Rieder Wiley. The Texas Real Estate Research Center is part of Mays Business School at Texas A&M University in College Station - the heart of the Research Valley.

https://www.recenter.tamu.edu/news/recon/?Item=523
RECON for November 30, 2021RECON for November 30, 20212021-11-30T06:00:00Z2021-11-30T06:00:00Z
Subdivided lots
Taxing the sale of a large piece of property as capital gains rather than as ordinary income generally works to the seller's advantage, but the tax laws are complicated. Three landmark decisions continue to guide courts' rulings on such cases in southern states, including Texas. Our latest research article has the details. (Image from Center files.)
November 30, 2021

Texas dominates list of 2022's hottest housing markets

NEW YORK (National Mortgage News) – ​Austin and Dallas-Fort Worth have landed on National Mortgage News' list of the 12 hottest housing markets in 2022. 

The Texas capital ranked fourth with a five-year annual projected population growth in 2022 of 2 percent. Austin also had projected employment and housing growth rates of 2.4 percent and 2.6 percent, respectively​. 

The report pointed out the number of high-tech companies moving into Austin as a major draw for the city. 

Dallas-Fort Worth ranked seventh, particularly for the influx of new jobs and diversity. The metro's five-year annual projected population, employment, and household growth rates in 2022 are 1.4, 1.6, and 1.8 percent, respectively. 

The rest of the top 12 rankings are:
  • No. 1 Nashville, Tenn.;
  • No. 2 ​Raleigh/Durham, N.C.;
  • No. 3 Phoenix;
  • No. 5 Tampa/St. Petersburg, Fla.;
  • No. 6 Charlotte, N.C.; 
  • No. 8 Atlanta;
  • No. 9 Seattle; 
  • No. 10 Boston;
  • No. 11 Salt Lake City; and 
  • No. 12 Denver.
Which Texas commercial real estate sectors thrived during the pandemic? Which ones struggled? Were the state's major metros affected in the same way? How are commercial markets performing now? Three economists with the Texas Real Estate Research Center sit down together to tackle these questions and more. Watch the full video here.

Median home price passes $300K in San Antonio

SAN ANTONIO (San Antonio Business Journal) – The metro’s median home price surpassed $300,000 in October, meaning it is no longer the most affordable major Texas m​etro for homebuyers. 

The median sales price rose 18 percent year over year to $305,400 in October, according to data from the San Antonio Board of Realtors. The city's median price is higher than Houston's price of $305,000. 

The number of homes sold fell 5 percent to 3,317. 

Inventory remains tight at 1.7 months. The Texas Real Estate Research Center considers six to 6.5 months of inventory a balanced market. 
Sketchy drawing of commercial buildingsThe Texas Real Estate Research Center's Texas Quarterly Commercial Report looks at past, present, and future commercial real estate activity in the state's four major metropolitan areas. It covers the office, retail, and warehouse sectors. Read and download the report for free, and subscribe to know when the next issue is published. 

Major renovations planned for Texas A&M

COLLEGE STATION (Texas A&M University System) – The Texas A&M University System Board of Regents has approved major renovations across the school's main ​​​campus. 

The largest project is a $205 million renovation of the Bright Complex. The renovation will include a new academic center, improved training facilities, and a space for nutritional and mental health support. 

Other developments include a new indoor football building, modernized locker rooms, new premium suites at Kyle Field, and indoor track training and competition venue. ​

The project will also include a $28 million administrative and classroom facility for the Texas A&M Engineering Extension Service. Construction begins in December with substantial completion set for May 2023.

Regents also approved major updates to the Aston Hall dormitory. The $4.8 million project will wrap up by July 2022.

The last major addition is a new building for the Industrial Distribution department at the College of Engineering. The building will consolidate the department's talent incubator​, sales laboratory, and capstone programs into one building on the RELLIS Campus in Bryan. Construction on the $20 million project starts next month and will wrap by March 2023. 
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. 

81-acre senior housing project coming to McKinney

McKINNEY (REBusiness Online) – Oregon-based Touchmark is developing Touchmark at Emerald Lake, an 81-acre senior housing project.

Designed by Th​ree Architecture, the project will be built in two phases. The first will consist of 149 independent living apartment homes, six duplexes, 84 assisted-living units, and 32 memory-care residences. 

Project partners include Andres Construction, StudioSix5, Kimley-Horn, and Talley Design. 

Phase one will be complete in 2023.
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Spurs break ground on $500M campus

SAN ANTONIO (San Antonio Business Journal) – Spurs Sports & Entertainment has broken ground on its $500 million human performance campus called The Rock at La Cantera. 

The campus will include a: ​
  • human performance research center,
  • new Spurs performance center,
  • 22-acre park, and
  • public outdoor event plaza. 
It will also have a mix of medical, office, and hospitality space. 
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.

Nonprofit begins 11th development in Houston

​​HOUSTON (Houston Business Journal) – New Hope Housing has broken ground on Savoy, a $3.4 million affordable housing development at 6315 Savoy St.

The 3.9-acre project will have 120 units in one-, two-, and three-bedroom floor plans. Units will be available to those at risk of homelessness, with 13 set aside for families fleeing domestic violence. 

Rent will range from $400 to $1,400, depending on the resident's income.

Amenities include spaces for social activities and exercise classes, a library, business center, onsite family services coordinator, and outdoor spaces with play area for children. 

New Hope Housing will provide support services for tenants.​

Opening is set for summer 2023.
Helping Texans make the best real estate decisions since 1971

Hertz Investment Group picks up 422-unit apartment portfolio

​​AUSTIN (Austin Business Journal) – Hertz Investment Group has acquired a three-property multifamily portfolio in the metro.

The portfolio includes the: 
  • 160-unit Ascent at North Burnet at 1735 Rutland Dr.;
  • 132-unit Ascent at Quail Creek at 1200 Mearns Meadow Blvd.; and 
  • 130-unit Ascent at Walnut Creek at 1804 Rundberg Ln.
Hertz will complete interior and exterior renovations for each location. 

500K-sf industrial project slated for Northwest SA

​​SAN ANTONIO (San Antonio Business Journal) – An affiliate of Commercial Development Company Inc. is developing a 500,000-sf distribution center and warehouse project at 14700 ​Tradesman Dr. 

The company received a zoning change approval for the 92.5-acre site from the zoning commission earlier this month.
Looking for reliable rural land data for Mississippi, Louisiana, Alabama, and Texas? We've got you covered. Get the data exclusively from the Texas Real Estate Research Center.
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Copyright © 2021, All rights reserved.
Material herein is published according to the fair-use doctrine of U.S. copyright laws related to non-profit, educational institutions. Items attributed to sources other than the Texas Real Estate Research Center at Texas A&M University should not be reprinted without permission of the original source. To send news items for consideration, e-mail Hayley Rieder Wiley. The Texas Real Estate Research Center is part of Mays Business School at Texas A&M University in College Station - the heart of the Research Valley.

https://www.recenter.tamu.edu/news/recon/?Item=522
RECON for November 19, 2021RECON for November 19, 20212021-11-19T06:00:00Z2021-11-19T06:00:00Z
Texas A&M downtown Fort Worth campus
What's happening in today's RECON? Pflugerville getting 1,050-unit townhome and apartment community, Texas A&M planning Fort Worth law and research hub, Baptist Health developing hospital campus in Boerne, and more. Keep reading for the details. (Rendering from the Texas A&M University System.)
November 19, 2021

A&M research campus says 'howdy!' to Fort Worth

FORT WORTH (Texas A&M University System) – City leaders and Texas A&M University System officials are working on a downtown research hub for business development. 

The Texas A&M System Research and Innovation Center will be built alongside a new Education Alliance Building, which will host conferences and house professional, technical, and university courses offered by the Texas A&M School of Law, Tarleton State University, Texas A&M University, the Texas A&M Health Science Center, and other alliance members.

These buildings will be the nucleus of a urban campus anchored by a new law school at 1515 Commerce St. The current law school is in the former Southwestern Bell call switching facility that was converted for office use. The school also uses leased space in a nearby building. 

The System owns four blocks in the area, and the city has nearby property that could become available. 

Six notable local employers—Alcon, AT&T, Bell, Elbit Systems of America, Lockheed Martin, and Philips—are interested in collaborating in particular research areas. 

The Texas Division of Emergency Management, the Texas A&M Engineering Experiment Station, the Texas A&M Engineering Extension Service, Texas A&M AgriLife Research, and the Texas A&M Transportation Institute are the System agencies involved in the project.
Yellow background woman holding money and toy houseIn 2020, 24 percent of Millennial homeowners received down-payment assistance from a parent or relative when purchasing a home. Why are an increasing number of borrowers getting help with their down payment? TRERC's Dr. Clare Losey explains in our latest blog post.

Lifestyle Communities bringing 1,050-unit townhome community to Pflugerville

PFLUGERVILLE (Austin Business Journal) – Lifestyle Communities Ltd. is building a 1,050-unit townhome and apartment community at 18612 Pfluger Farm Lane. 

The community will includ​e a 15,000-sf amenity center, which will include a two-story restaurant called The Goat. The community will also include a wellness center, pool, volleyball court, outdoor bar, and coworking space. 

Developers will complete the 409-unit first phase in late 2024. 

LRK Inc. and OZ Architecture are the architects. 
Helping Texans make the best real estate decisions since 1971

Baptist Health developing $50M hospital campus

BOERNE (San Antonio Business Journal) – Baptist Health System is developing a $50 million hospital campus on 23 acres near I-10 and SH 46. 

The campus will include an acute-care hospital and medical office building. ​

The hospital will have outpatient services, imaging, and other diagnostic services. The medical office building will provide space for physician practices and other ancillary healthcare services. 

Construction will be complete by late 2023 or early 2024. 
Stubborn Slow-down
Housing affordability has been an issue for years but has worsened as demand remains elevated and supply stays constrained. When will Texas' home-price boom ease? Center Lead Data Analyst Joshua Roberson shares his insights on the latest Red Zone Podcast.

TA Realty buys five-property portfolio from Holt Lunsford Commercial

DALLAS (REBusiness Online) – Holt Lunsford Commercial Investments has sold a portfolio of five shallow-bay industrial properties totaling 700,000 sf to TA Realty. 

Two properties—Valwood Trad​e Center and Golden Bear Distribution Center—are in Carrollton.

McKinney Logistics Center, Richardson Logistics Center, and Edmonds Airport Trade Center are in Lewisville. 

HLCI developed all of the assets between late 2020 and summer 2021.​
Looking for more real estate news? Our NewsTalk Texas feed has all the latest headlines. Here's a sample:

Avera, AEW to develop 522K-sf Baytown industrial project

​​​BAYTOWN (REBusiness Online) – Locally based Avera Cos. and AEW Capital Management are developing Kilgore Grand Parkway, a 522,135-sf industrial project on​ 33.9 acres near Port Houston.

The project will include 40-ft clear heights, 185-ft ​truck court depths, an ESFR sprinkler system, and build-to-suit office space. 

Cushman & Wakefield is the leasing agent for the project, which will be complete in fourth quarter 2022.
market viewer screen shotTexas Realtors' MarketViewer tool helps members and their clients quickly understand the market statistics in their area. This powerful tool is a member benefit available exclusively to Texas Realtors and local Realtor associations in Texas. Data are compiled and analyzed through a research agreement between Texas Realtors, the Texas Real Estate Research Center, and all MLSs across the state. 

Boston firm buys 366K-sf Dallas office campus

​​​DALLAS (REBusiness Online) – Albany Road Real Estate Partners has acquired The Plaza at Solana, a 366,000-sf office campus off SH 114.

The three-building property was recently renovated and includes 21,000 sf of retail and restaurant space. 

A fund sponsored by CBRE Investm​ent Management provided a $66.3 million acquisition loan.

JLL arranged the debt on behalf of the borrower.

Majestic Realty adding four buildings to Brook campus

​​​​SAN ANTONIO (San Antonio Business Journal) – Majestic Realty Co. is developing four buildings totaling 938,281 sf at the Brooks campus. 

Construction on the $64 million project will start January 2022 and be complete a year late​r.
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Copyright © 2021, All rights reserved.
Material herein is published according to the fair-use doctrine of U.S. copyright laws related to non-profit, educational institutions. Items attributed to sources other than the Texas Real Estate Research Center at Texas A&M University should not be reprinted without permission of the original source. To send news items for consideration, e-mail Hayley Rieder Wiley. The Texas Real Estate Research Center is part of Mays Business School at Texas A&M University in College Station - the heart of the Research Valley.

https://www.recenter.tamu.edu/news/recon/?Item=521
RECON for November 16, 2021RECON for November 16, 20212021-11-16T06:00:00Z2021-11-16T06:00:00Z
Local Government Code allows for Public Improvement Districts, which are created to provide improvements such as new sidewalks, roads, lighting, and landscaping. Recent changes to the code have added PID disclosure notice requirements to buyers and increased penalties for sellers who fail to deliver the notice. Read about these changes in our latest article. (Image from Center files.)
November 16, 2021

Hamilton Thomas Homes introduces three new Houston communities

​​​HOUSTON (Total PR) – New local homebuilder Hamilton Thomas Homes has broken ground on its first of three residential projects across the metro. 

The 31 45-ft home sites are in the Balmoral community in Humble. Homes will start in the mid $300,000s. Floor plans will range from 1,700 to 3,000 sf. 

Hamilton Thomas will also develop 66 homes in Marvida in Cypress. Homes will range from 2,000 to 4,000 sf and be on 60-ft sites. Pricing will start in the low $400,000s. 

The builder will also start construction in Sunterra in Katy in December. Thirty-six homes will be built on 45-ft lots and range from 1,700 to 3,000 sf. Prices will start in the mid $300,000s. 
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100K-sf medical building slated for UTSA’s West campus

​​SAN ANTONIO (San Antonio Business Journal) –‌ UT Health San Antonio is building a 100,000-sf medical building on the University of Texas at San Antonio’s (UTSA) Park West campus. 

The building will house medical office space and an ambulatory surgery center. 

Construction will be complete by February 2024. 

UT Health San Antonio is also working on an 80,000-sf facility and 144-bed hospital at UTSA.
Sketchy drawing of commercial buildingsThe Texas Real Estate Research Center's Texas Quarterly Commercial Report looks at past, present, and future commercial real estate activity in the state's four major metropolitan areas. It covers the office, retail, and warehouse sectors. Read and download the report for free, and subscribe to know when the next issue is published. 

Alabama manufacturer moving into Houston distribution center

HOUSTON (REBusiness Online) – Alabama-based Hercules Inc. has signed a 111,062-sf industrial lease at Park 8. 

The company will occupy about half of the 242,760-sf distribution center, which delivered in 2020. 

The building has 36-ft clear heights, 130-ft truck court depths, and an ESFR sprinkler system.

Moody Rambin represented the tenant. CBRE represented the landlord, Avera Cos. and AEW Capital Management.
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. 

Austin billionaire Michael Dell sells Dallas apartments

DALLAS (Dallas Morning News) – Michael Dell’s family investment fund, MSD Capital, sold the Armstrong at Knox apartments at 4525 Cole Ave. to Madera Residential.

The 165-unit rental community was built in 2014 ​on top of a retail strip that includes a Trader Joe’s grocery store.

The purchase was financed with a $47.9 million mortgage provided by a fund sponsored by CBRE Investment Management.
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152K-sf office building coming to Fair Market site

​​​AUSTIN (Austin Business Journal) –‌ The city council has approved rezoning for the Fair Market event venue at 1100-1108 E. Fifth St. 

11E5 LLC and Endeavo​r Real Estate Group will transform the property into a 150,617-sf office building with ground-floor retail.
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.

Stonemont breaks ground on 500K-sf industrial park in Fort Worth

​FORT WORTH (Dallas Morning News) – Stonemont Financial Group has broken ground on the two-building DFW Point35 business park on Harmon Rd. near I-35W.​

The 500,000-sf industrial development opens next summer. 

Lee & Associates is marketing the business park.

Amazon eyeing Georgetown for 519K-sf warehouse

​​​GEORGETOWN (Austin Business Journal) –‌ Amazon is planning a 518,792-sf sorting facility at 2250 N. I-35. 

Construction begins in early 2022 and will be complete in March 2023.
Looking for reliable rural land data for Mississippi, Louisiana, Alabama, and Texas? We've got you covered. Get the data exclusively from the Texas Real Estate Research Center.
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Copyright © 2021, All rights reserved.
Material herein is published according to the fair-use doctrine of U.S. copyright laws related to non-profit, educational institutions. Items attributed to sources other than the Texas Real Estate Research Center at Texas A&M University should not be reprinted without permission of the original source. To send news items for consideration, e-mail Hayley Rieder Wiley. The Texas Real Estate Research Center is part of Mays Business School at Texas A&M University in College Station - the heart of the Research Valley.

https://www.recenter.tamu.edu/news/recon/?Item=520

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