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RECON for April 25, 2017RECON for April 25, 2017Bryan PopePope
2017-04-25T05:00:00Z
The lighthouse at Harbour Town on Lake Conroe in Montgomery County, captured at sunset yesterday. (Photo by REC Art Director Bob Beals.)
April 25, 2017

Holy high-rise: Church to build downtown Austin tower

AUSTIN (Austin American-Statesman) – The Episcopal Church and locally-based Cielo Property Group are partnering on a mixed-use project planned for the downtown site known as Block 87.

Conceptual renderings by Cielo show a tower in the 30-story range. Although plans have not yet been determined, the building could include residential, office, restaurant, and retail. It'll also serve as the permanent home for the church’s historical archives.

The property, which the church bought in 2009, is bounded by Seventh, Eighth, Trinity, and Neches Streets.

​Rev. Canon Lang Lowrey III with the church said they hope to break ground next year. However, the project hasn't received city approval yet.

For the time being, the land serves as a revenue-generating parking lot.

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Case-Shiller: Dallas home prices up 9 percent

​​​​DALLAS (Dallas Morning News) – Big D was behind only Seattle and Portland, Ore., in year-over-year home price gains in February, according to the latest Standard & Poor's/Case-Shiller Home Price Index.

Prices were up nearly 9 percent in Dallas and 5.8 percent for the nation, an all-time high for both.

Case-Shiller reports that Dallas prices are more than a third higher than they were at the last housing market peak in 2007. Nationally, prices are about 1 percent ahead of their prerecession levels.

More luxury multifamily housing coming to Tyler

TYLER (Abby Development & Construction) – Abby Development has acquired about 16 acres for Auberge of Tyler, a Class A, garden-style, multifamily apartment community.

The site is on Grande Blvd. near the Old Jacksonville Hwy. intersection.

Auberge of Tyler will have 234 units, including one, two, and three-bedroom floor plans.

Developers will break​ ground in fourth quarter 2017. The community will open in first quarter 2019.
REC Chief Economist Dr. Jim Gaines gives his outlook for both the U.S. and Texas economies. Taken from a Facebook Live broadcast at our Texas land markets conference April 20-21 in San Antonio.

Acreage neighboring Alamodome purchased

SAN ANTONIO (San Antonio Express-News) – A Houston real estate firm recently purchased three acres across the street from the Alamodome.

The firm, Rockspring Capital, doesn't have specific plans yet for the land, which is at the southwest corner of Cesar E. Chavez Blvd. and Cherry St.

According to the city's website, the land is zoned for commercial and industrial uses.​​

McAlister Real Estate represented Rockspring in the purchase.

West Ten to be well furnished thanks to new tenant

​​KATY (RealtyNewsReport) – Bel Furniture plans to open 415,296 sf of showroom and distribution space at West Ten Distribution Center on I-10 at Cane Island Pkwy.

​​The two-building project, which was built on spec, will provide Bel Furniture with a 74,793-sf showroom and 340,503 sf of distribution space.

Transwestern Development Co. built the project on 75 acres purchased in 2014 from Parkside Capital.

CBRE represented Bel Furniture in the deal.​ Transwestern was self-represented.
Hungry 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.

New Arts District tower breaks ground

​DALLAS (RealtyNewsReport) – Local developer Craig Hall broke ground recently on a 25-story hotel and residential tower on Ross Ave. in the Arts District. Hall has owned the site for 20 years.

The $250 million Hall Arts Residences will have 44 homes and a 183-room Hall Arts Hotel.

The Dallas Morning News reports that it will be completed in late 2019.​

Top Class buys New Braunfels Holiday Inn

​NEW BRAUNFELS (CBRE) – Top Class Hospitality LLC recently purchased Holiday Inn Express & Suites from Baywood Hotels.

The 87-room limited-service hotel is at 1436 N Business Loop I-35. It was built last year.

CBRE Hotels represented both the buyer and seller.
Copyright © 2017, 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 Bryan Pope. 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=67
RECON for April 18, 2017RECON for April 18, 2017Bryan PopePope
2017-04-18T05:00:00Z
How familiar are you with aquaponics? This process, which combines the raising of fish with the soil-less growing of plants, will be one of the topics covered in an upcoming series of gardening seminars presented by AgriLife Extension in San Angelo. Details in today's RECON. (Photo from AgriLife Today.)
April 18, 2017

UTEP starts work on new research building

​​​EL PASO (El Paso Inc.) – ​After two years of planning, the University of Texas at El Paso broke ground April 7 on the newest big addition to its growing campus, the Interdisciplinary Research Building.

The Texas Legislature approved the $85 million​ to build the five-story, 162,000-sf building on the 2.1-acre site of the old Burges and Barry Halls.

New hotel, convention center to serve old Ags

COLLEGE STATION (The Eagle) – ​​A new hotel and conference center is set to storm the field just in time for Texas A&M University's 2018 football season.

The eight-story on-campus hotel is bringing 250 rooms, including 237 standard rooms, eight standard suites, three hospitality suites, and two deluxe suites, to Aggieland.

The 250,000 sf project will include a full-service restaurant and bar, 1,000 sf of retail, outdoor pool and event area, fitness center, 650-seat ballroom, and over 28,000 sf of conference and meeting space. It will join the Cain Parking Garage just off Wellborn Rd. at the previous site of Cain Hall.

Gilbane Development Company is building the yet-to-be-named hotel, which will be operated by Benchmark Hospitality. 

Texas A&M is using a public-private partnership to fund the project.
Can't make our Texas land markets conference this Thursday and Friday in San Antonio? We'll tweet it on Twitter at #txland2017. Also, look for live coverage on our Facebook page.

Vacant land to become high-end seniors community

HOUSTON (Houston Chronicle) – Dallas-based Tradition Senior Living is building a high-end rental community for seniors on a ​​vacant parcel at Buffalo Speedway and S. Main St.

Dubbed The Tradition-Buffalo Speedway, the 316-unit project will open in late 2018. The 12-acre site will include 222 independent-living units, 63 assisted-living units, and 31 memory-care units. 

Tradition Senior Living purchased the parcel last year, marking its first venture outside Dallas.

Provence first phase moves forward

AUSTIN (Community Impact Newspaper) – Masonwood LLP is moving forward with phase one of the Provence master-planned community.

The first phase will have 678 homes on 460 acres and possibly a Lake Travis ISD elementary school.

Overall plans for Provence, formerly named Masonwood, include 1,600 residential lots and 200 commercial lots on 900 acres in the 17024 block of Hamilton Pool Rd.

However, Municipal Utility District 22—responsible for Provence’s infrastructure—was denied water service March 16 by the West Travis County Public Utility Agency (WTCPUA) for the project’s remaining four phases of 1,137 living-unit equivalents, or LUEs, a term used to quantify water use.

The WTCPUA agreed in 2015 to grant the development 700 LUEs for its first phase, a decrease from the project’s original 1,837 LUEs requested to serve its entire development.

Masonwood is adding a 400,000-gallon elevated water storage tank and already upgraded the agency’s pump stations. 
Hungry 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. 

First Colony Commons sold

SUGAR LAND (Holliday Fenoglio Fowler) – TriGate Capital has acquired First Colony Commons, a 410,121-sf retail center, from Covington Realty Partners.​​​

Located on almost 38 acres at 15201-15555 Southwest Fwy., First Colony Commons is 99 percent leased. Retailers include Home Depot, Babies 'R' Us, Office Depot, Michaels, Conn's, and Tuesday Morning.

HFF represented Covington in the transaction. HFF also placed a five-year, floating-rate, nonrecourse loan with a five-year extension option with NexBank SSB​ on behalf of TriGate.

Buckner Senior Living kicks off North Dallas tower pair

DALLAS (Dallas Morning News) – Construction starts this week on a two-tower seniors residential development across the street from NorthPark Center.

The $136 million Ventana development at the southwest corner of US 75 and Northwest Hwy. will have over 225 independent- and assisted-living apartments as well as memory-care, skilled-nursing, and rehabilitation facilities.

Ventana is scheduled to open in mid-2019.

D2 Architecture designed the two 12-story towers. Whiting-Turner is the general contractor. Buckner Retirement Services will operate the community.​
Obtaining 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. 

PPA, Israeli investor buy Houston apartments

HOUSTON (Houston Chronicle) – Austin-based PPA Group has teamed up with a private Israeli investment company to purchase another local community.

The Citation North Apartment Homes, a 236-unit Class C complex at 411 Highland Cross Dr., will be renovated and managed by a​ Clear Property Management affiliate.

AgriLife Extension wants to help you become a better gardener

​​​​​​SAN ANGELO (AgriLife Today) – Aspiring gardeners can learn what they need to get started at the upcoming Texas A&M AgriLife Extension Service Backyard Basics series this May.

Classes start at 6:30 p.m. at the Tom Green 4-H Center, 3168 N. US 67.
The sessions are: 
  • M​ay 1, vegetable gardening;
  • May 9, aquaponics;
  • May 15, food preservation; and
  • May 22, fruit trees.
The seminars will provide the information necessary to create a productive backyard garden and grow and store fresh food for the family, according to Allison​ Watkins, AgriLife Extension horticultural agent for Tom Green County.

Registration is $10 each for the vegetable and fruit tree sessions and $20 for the food preservation session. The aquaponics session is free.

RSVP by calling the Tom Green County AgriLife Extension office at 325-659-6528 no later than the Friday before​ each program.
Copyright © 2017, 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 Bryan Pope. 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=66
RECON for April 14, 2017RECON for April 14, 2017Bryan PopePope
2017-04-14T05:00:00Z
Cypress trees grace the banks of Camp Creek Lake near Franklin. (Photo by REC Senior Editor David Jones.)
April 14, 2017

Iconic 1914 Nueces County Courthouse sold

CORPUS CHRISTI (Corpus Christi Caller-Times) – After being shuttered for 40 years, the 1914 Nueces County Courthouse has found a new owner.

Jim McCue, Steve Coon, and Stephen Goodman have signed an agreement with the county to buy the building at 1100 N. Mesquite St. for $1,000.

While that sounds like a bargain, the buyers will also have to pay $1.5 million in back taxes by the end of a 90-day due diligence period.

Plans aren't set in stone yet, but the developers say they're leaning toward turning the building into a hotel. They will work with the Texas Historical Commission to receive state tax credits on the historic preservation.

The courthouse closed its doors in 1977, seven years after suffering severe damage from Hurricane Celia. The structure had survived hurricanes twice before, ​in 1919 and 1941.

For an extensive history of the building, read this blog post at Sometimes Interesting.

Work about to begin on $91 million Allen convention center

​​​ALLEN (Dallas Business Journal) – A $91 million, four-star hotel and attached convention center at the northwest corner of US 75 and Bethany Dr. will get underway by the end of the month.

The 300-room Delta by Marriott hotel will have 90,000 sf of convention​​​ and meeting space and 1,000 parking spaces. Plans are for the hotel to open in 2018.

Altera Development is behind the project. Investors include the city, the Allen Economic Development Corp., and the ​Allen Community Development Corp.​
REC land expert Dr. Charles Gilliland is here with details on next week's Rural Land Markets Conference. After that, we'll take you to Bee Cave, San Antonio, and Laredo. We'll also spend a lot of time in North Texas visiting Grapevine, McKinney, Farmers Branch, and Fort Worth. Oh, and you won't want to miss news about a bill that's sure to ruffle some feathers. This week's Real Estate Red Zone podcast. (17 min. 18 sec.)

Houston real estate's best March yet

HOUSTON (RealtyNewsReport) –  Last month was the strongest March ever for home sales in the city's real estate history, according to the Houston Association of Realtors (HAR).

The 7,013 single-family home sales marked an 11.7 percent increase over the 6,278 homes sold in March 2016, the association said.​

Median price climbed 5.8 percent to $227,530, the highest median price ever for a March. The average price rose 4.6 percent to $284,279, also representing a March high.

Single-family home leases surged 36.6 percent while townhome/condominium leases leapt 37.8 percent. The average rent for single-family homes declined 4.9 percent to $1,647, while the average rent for townhomes and condominiums dropped 5.6 percent to $1,487.

Single-family homes inventory grew slightly from 3.5 months to 3.8 months. For perspective, housing inventory across the country also currently stands at 3.8 months, according to the latest report from the National Association of Realtors.

At the end of March, pending sales for single-family homes totaled 8,311, an increase of 16.7 percent compared with last year, HAR said.​
Your chickens might literally come home to roost thanks to a bill passed last week by the Texas S​enate. More on this in our most egg-cellent commentary.

Warehouse and shipping provider leases nearly 148,000 sf in San Antonio

​​SAN ANTONIO (CBRE) – Southern Warehousing and Distribution has leased 147,840 sf at Interchange East Distribution Center.

The industrial facility, located at 505 Stout Dr. near ​the intersection of Loop 410 and I-10, has a fenced truck court and parking, 22-foot clear height​, ten dock-high doors, one ramped door, and a sprinkler system.

CBRE represented the landlord, Prologis.​​​​

More Uptown rentals planned

DALLAS (Dallas Morning News) – Mill Creek Residential Trust and Abington Properties are developing a 190-unit multifamily project at Hall and Howell Streets in the Uptown district.

The seven-story Modera Howell will have a rooftop pool deck, fitness studio, landscaped courtyard with outdoor kitchen and dining area, business center,​ and three levels of underground parking.

UMB Bank is financing the project.
Market 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.

Bank of America anchoring upcoming downtown tower

HOUSTON (RealtyNewsReport) – Skanska has started construction on Capitol Tower, a 35-story downtown office development.

​​Bank of America will anchor the tower, leasing 210,000 sf. JLL represented Bank of America, which will move into the new building in the first half of 2019.

CBRE represented Skanska in lease negotiations

Designed by Gensler, Capitol ​​Tower has 754,000 sf of office space and more than 26,000 sf of retail and restaurant space.

T​​he tower will be connected to the downtown tunnel system.

California buyer picks up Midway Business Park

​​​​​FARMERS BRANCH (Marcus & Millichap) – ​Marcus & Millichap arranged the sale of Midway​ Business Park, a 235,042-sf mixed-use development.

The firm represented the seller, a California-based real estate investment firm, and procured the buyer, a Texas-based investment company. 

Built in 1974 and periodically updated over the years, the business park at 13604-13​740 Midway Rd. was 80 percent occupied at the time of sale.
In the market for Texas real estate data? Look no further. We're your one-stop shop for housing, rural land, building permit, employment, and population data.

Work starts on Switchyard Apartments

​CARROLLTON (REBusiness) –​​ Chicago-based Stoneleigh Cos. and partner Realty Capital Management ​have broken ground on a 234-unit apartment complex.

Switchyard Apartments is at 1199 N. Broadway St. The four-story building, which will be next to a Dallas Area Rapid Transit (DART) station, will offer units ranging from 5​25 to 1,262 sf. ​
Copyright © 2017, 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 Bryan Pope. 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=65
RECON for April 11, 2017RECON for April 11, 2017Bryan PopePope
2017-04-11T05:00:00Z
CBRE has released first-quarter office and industrial updates for several of Texas' biggest metros, including DFW. More in today's RECON. (Photo from Center files.)
April 11, 2017

Texas second nationally in CRE development

​DALLAS (Dallas Morning News) – Commercial property construction expenditures topped $18.5 billion in Texas last year, second only to New York. 

new report from the NAIOP Rese​arch Foundation found that commercial development supported 310,99​4 jobs here in 2016.

Nationally, the commercial development and construction industry contributed $861 billion to the U.S. gross domestic product and supported 6.25 million jobs.

New York State had $24.8 billion in direct commercial real estate spending.

The annual study adds up hard and soft costs for a variety of real estate projects, including office buildings, warehouses, industrial plants, and retail and entertainment building.

Texas was first nationally in retail and entertainment spending, with $4.1 billion in construction last year. It ranked second in office development ($8.4 billion) and warehouse construction ($3 billion).​

Port San Antonio breaks ground on cybersecurity complex

​​​SAN ANTONIO (Rivard Report) – ​Port San Antonio has started work on Project Tech, a state-of-the-art technology complex that will house firms supporting the area's growing cybersecurity community.

​​Project Tech, which could total more than 500,000 sf across 17 acres, kicked off with a 90,000-sf facility. The $20 million building is expected to deliver in 2018.

​The development's first phase, which is close to the 24th Air Force/149th Fighter Wing Building 171, was designed by Beaty Palmer Architects and is being built​ by SpawGlass. Peloton Commercial Real Estate will handle marketing.

Lockheed Martin: More F-35 construction, more jobs

​​​FORT WORTH (NBC 5) – Lockheed Martin is moving production of F-16s to Greenville, S.C., to help increase production locally of F-35s, adding 1,800 jobs here in the next four years.

There are currently 8,800 employees building F-35s in the Cowtown facility, building 40 jets every year. The goal is to build 150 F-35s a year by 2020, said Michael Rein, spokesman for Lockheed Martin.

To do that, leaders felt the need to move production of the F-16 to South Carolina.

Currently, 230 workers build F-16s in Lockheed Martin's local facility. They will transition to building the F-35s, said Rein. Some workers may retire, he added.

Composed, positive in Austin industrial market

​AUSTIN (CBRE) – Local industrial investors and users began the year with what CBRE called a "sense of composed positivity" in its first-quarter 2017 market update.

According to the report, vacancy held steady at 7.2 percent, while average asking rents climbed to $10.32/sf/year, up $0.12/sf from the previous quarter.​

Developers delivered more than 550,000 sf in the first quarter. An additional 1.1 million sf are underway.

The industrial market absorbed 144,672 sf.​​
The April 2017 Tierra Grande (digital edition) is now online. Read about real estate crowdfunding, rural land prices and commodity values, East Austin's affordable housing problem, high-speed rail and eminent domain, and more. Afterward, take our readership survey for a chance to win one of ten $25 gift cards.

Houston industrial: Delivered occupied space boosts absorption

​HOUSTON (CBRE) – ​All local industrial submarkets except the CBD had positive net absorption in the first quarter, according to CB​RE's latest market update.

Several manufacturing consolidations led to a loss in occupied space. The Southeast contributed over 2.2 million sf of net absorption of the 3.1 million sf market total. The majority of the market total was preleased deliveries.

Vacancy increased by 10 basis points quarter-over-quarter​​. ​Robust deliveries added 1.5 million sf​​​ of vacant space to the market, increasing total vacancy to 5.2 percent.

The development pipeline continues to ebb. The amount of space under construction is now half of last year’s peak.​​

A modest uptick in vacancy is expected through mid-year as capacities reach equilibrium.​

Private resort area coming to Montecillo

​EL PASO (El Paso Times) – EPT Land Communities is adding a Marriott-brand hotel, a public events center, and a private resort area with a pool a​nd water slides to the 300-acre Montecillo Smart Growth community.

The four-acre resort will include a clubhouse, pool with a "lazy river," a children's splash pad, water slides, outdoor movie screen, outdoor bars, and cabanas.

The hotel will sit on three acres next to the resort.

Montecillo, the city's first full-fledged Smart Growth community, stretches from Mesa St. to I-10. It's projected to eventually be a $700 million-plus development with about 4,500 residences of various types mixed with restaurants, stores, offices, and entertainment venues.​​

EPR Properties getting its feet wet

​​​SPRING (Houston Business Journal) – EPR Properties has purchased Wet 'n' Wild SplashTown from Florida-based CNL Lifestyle Properties Inc.

The new owner kept Premier Parks LLC as the operator​ of the water park with a 40-year lease.

Located at 21300 I-45, the 80-acre Wet 'n' Wild SplashTown will open for the 2017 season at 10 a.m. on May 6.
Hungry 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. 

TAR: Texas homebuyers broaden in diversity

AUSTIN (Texas Association of Realtors) – A new Texas Homebuyers and Sellers Report released by the Texas Association of Realtors revealed growing diversity in the household composition and ethnicity of Texas homeowners as well as rising housing affordability challenges across the state.

The ratio of single Texas homebuyers rose from the previous year with single female buyers increasing 5 percentage points to 19 percent and single male buyers rising 2 percentage points to 9 percent of buyers statewide.

The report also showed a broader ethnic diversity among Texas buyers. Fourteen percent identified as Hispanic, 6 percent as African-American, and 4 percent as Asian. Minorities among first-time buyers were most likely to be Hispanic (27 percent), while minorities among repeat buyers were most likely to be African-American (27 percent).

Median age of first-time buyers increased three years to 35 years old, while the median age of sellers decreased eight years to 46 years old.

The 2017 report also illustrated growing affordability challenges across the state.

Median household income among buyers declined nearly 3 percent year-over-year to $94,200. The median home price was $215,000, significantly higher than the Real Estate Center at Texas A&M University’s estimation of $150,000 as a typical home price for entry-level and first-time buyers.

According to the report, debt delayed Texans from saving for or purchasing a home for a median time of three years. Forty-four percent of buyers waited six to 12 months to save for a down payment, compared with 10 percent in the previous year’s report.​

DFW office construction slowing, asking rates rising

DALLAS (CBRE) – North Texas office vacancy rates remained relatively constant in the first quarter as large construction levels begin to taper, reports CBRE in its latest market update. Meanwhile, prelease estimates on recent construction deliveries point toward a slowdown even as demand stays high.

Currently, 28 buildings are under construction totaling almost 6.1 million sf with a prelease rate of 49.1 percent.

​Vacancy increased slightly from last quarter, up 50 basis point to 19.1 percent. Seven buildings totaling 1.5 million sf were delivered this quarter, with only 42.2 percent of that space preleased.

DFW had positive net absorption for the 28th consecutive quarter. Far North Dallas had the highest absorption at 402,040 sf followed by Las Colinas with 254,291 sf.

Positive absorption, low vacancy rates, and rising construction cost continue to increase the average asking rate in the Metroplex. Up 4.64 percent year-over-year, the average asking rate is now $23.95.

TDI seeks applicants for two boards

​AUSTIN (Texas Department of Insurance) – The Texas Department of Insurance is looking for people to serve on two of its boards.

One board oversees the Fair Access to Insurance Requirements (FAIR) plan, which provides residential property insurance in underserved areas where it’s not readily available through the private market.

TDI needs to fill six vacancies on the board: two publi​c members, three insurers, and one general property and casualty agent member. Applications will be accepted through May 31.​​

The other board oversees the Texas Wind Insurance Association, which provides windstorm and hail insurance along the coast when it’s not reasonably available through the private market.

Applications are sought to fill two public member positions. They will be accepted through April 30. All TWIA board members must have experience in insurance, general business, or actuarial principles.

More information as well as both the applications can be found at www.tdi.texas.gov/committee/gr/index.html
Copyright © 2017, 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 Bryan Pope. 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=64
RECON for April 7 2017RECON for April 7 2017Bryan PopePope
2017-04-07T05:00:00Z
Squint and you might see the latest issue of Tierra Grande being cranked out at RR Donnelley in Houston. The magazine hits mailboxes later this month. (Photo by REC Art Director Bob Beals.)
April 7, 2017

Boeing: Come fly with us . . . to Plano

PLANO (Dallas Business Journal) – Legacy West will soon be home to the new ​​headquarters for Boeing's global services division.

The aerospace giant's HQ will be on the top floor of an office building at the entrance to the mixed-use development off Legacy Dr. ​The company expects to start operating from there in July.

About 50 leadership executives and support staff will work at the site. This office will house ​Stan Deal, Boeing Global Services president and CEO.

Last November, Boeing announced its standup global services division, which was formed to integrate the services and capabilities of the defense, space,​ and commercial sectors into a single, customer-focused business.

Today's good news for tomorrow's doctors

GALVESTON (University of Texas Medical Branch) – The University of Texas Medical Branch broke ground today on its Health Education Center​ at 11th and Mechanic Streets.

The 160,000-sf facility will open in 2019.

UTMB said the center will have simulation classroom spaces "enabling future generations of health care professionals to learn in an interdisciplinary, collaborative environment."

More cash registers ringing in Laredo

LAREDO (REBusiness) – ​​CBL & Associates Properties Inc. and Horizon Group Properties have opened The Outlet Shoppes at Laredo, a 358,000-sf retail center at 1600 Water St.​

More than 50 retailers, including Nike, Puma, Michael Kors, Brooks Brothers, and Sunglass Hut, ​have secured leases at the center.​
On this week's Real Estate Red Zone podcast, we talk to Fulshear City Manager CJ Snipes about plans for land the city has just purchased. Also, an update on the new Corpus Christi bridge, TxDOT's big milestone, a 'Walker, Texas Ranger' flashback, and visits to your favorite small Texas towns. Join us! (21 min. 08 sec.) 

191,000-sf Walmart to anchor West Towne Marketplace

​EL PASO (El Paso Times) ​​– West Towne Marketplace, a 500,000-sf shopping center currently underway​, has added a Walmart Supercenter as its third and last major anchor store.

The 191,000-sf store at I-10 and Paseo del Norte (Artcraft Rd.) will be Walmart's 24th store in the area.

Walmart purchased the land and is developing the building, which should deliver in nine to 12 months.​

A 50,000-sf Cabela's will be another anchor. The third major anchor will be a movie theater.

The $100 million West Towne Marketplace will be completed by October.​​​

Work starts on Allen office park

ALLEN (REBusiness) – ​​Kaizen Development Partners has broken ground on the first phase of One Bethany at Watters Creek.

The 125,000-sf, Class A office park at the corner of Bethany Dr. and Watters Creek Blvd. will have a 570-space parking garage.

Delivery of the building, designed by BOKA Powell, is expected within 12 months.​
War is heck, especially when clover is the enemy. Tales from the front (lawn) on this week's Mixed-Use blog.

April 17 deadline for property tax renditions

AUSTIN (Texas Comptroller of Public Accounts) – April 17 is the deadline for filing property tax renditions with county appraisal districts.

​A rendition is a list of the taxable inventory, furniture and fixtures, machinery, equipment, and other property owned or managed as of Jan. 1 of each year. The appraisal district may use the information to set property values.

Rendition allows property owners to record their opinion of their property's value and ensures the appraisal district notifies them before changing its recorded value.

Owners whose property was damaged by storm, flood, or fire last year may file a decreased-value report that could lower their final tax bills for 2017.

Rendition forms and decreased-value report forms are available from county appraisal district offices statewide. They can also be downloaded from the Comptroller's property tax forms web page.

For more information, contact the Comptroller's Property Tax Assistance Division at 800-252-​9121 or visit comptroller.texas.gov/taxes/property-tax.​
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Want better beaches? You can help

AUSTIN (Texas General Land Office) – The 2nd annual month-long Texas Adopt-A-Beach Better Beaches fundraising campaign has begun. Donations to the Texas Adopt-A-Beach program are tax-deductible and can be made at TexasAdoptABeach.org.

Only a portion of the program's funding comes from state and federal grants. Each year, individuals and other private sources donate more than half of the funds necessary to run the program.

In addition to donating to the Better Beaches fundraising campaign, volunteers are needed for the Spring Cleanup Saturday, April 22. The coastal cleanup will take place at 29 of Texas' most popular tourist beaches. For more information, go to​ www.texasadoptabeach.org
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NAR report: Consumer interest in sustainable development growing

​​WASHINGTON, D.C. (National Association of Realtors) – Over half of Realtors find that consumers are interested in real estate sustainability issues and practices, according to the National Association of Realtors’ (NAR) recent Realtors and Sustainability report.

Generally speaking, sustainable properties are those that use natural resources responsibly.

The report, stemming from NAR’s new Sustainability Program, surveyed Realtors about sustainability issues facing consumers in the real estate market and ways Realtors are setting their own goals to reduce energy usage.

Home features that Realtors said clients consider to be very or somewhat important include:
  • efficient use of lighting (50 percent),
  • ​a smart/connected home (40 percent),
  • green community features such as bike lanes and green spaces (37 percent),
  • landscaping for water conservation (32 percent), and
  • renewable energy systems such as solar and geothermal (23 percent).
Sustainable neighborhood features clients are looking for were:
  • parks and outdoor recreation (60 percent),
  • access to local food (37 percent), and
  • recycling (9 percent).
Transportation and commuting features that Realtors listed as very or somewhat important to their clients included:
  • walkability (51 percent),
  • public transportation (31 percent), and
  • bike lanes/paths (39 percent).
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Material herein is published according to the fair-use doctrine of U.S. copyright laws related to non-profit, educational institutions. Items attributed to sources other than the Real Estate Center at Texas A&M University should not be reprinted without permission of the original source. To send news items for consideration, e-mail Bryan Pope. 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=63

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