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RECON for December 6, 2019RECON for December 6, 20192019-12-06T06:00:00Z2019-12-06T06:00:00Z

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RECON Real Estate Center
Rendering of North Quarter 35
What's happening in today's RECON? Port San Antonio approves innovation center initial phase, Source Logistics signs industrial lease in Laredo, and work starts on Fort Worth industrial project. Keep reading for the details. (Photo from M2G Ventures.)
December 6, 2019

46-story hotel, apartment tower planned for Rainey Street District

AUSTIN (Austin Business Journal) – River Street Partners is developing a 46-story hotel and apartment tower along River St. in the Rainey Street District. ​​

Called the River Street Market & Hotel, the 598,000-sf building will have 251 hotel rooms, 196 apartments, and 27,800 sf of restaurant​ and retail space. 

​Lake Flato Architects is the architect for the proposed tower. Nudge Design is the landscape architect, and Civilitude LLC is the civil engineer.

The site at 60 E. Ave. is owned by Perry Lorenz and Robert Knight. The tower will replace two bars next door that are owned by Rainey Ventures. 
Texas housing at a glance
Read more in our latest Texas Housing Insight report. 

Regal Cinemas builds the scene on Riley Fuzzel Rd. 

HOUSTON (Houston Business Journal) – J. Beard Real Estate Co. has started construction on a 105,389-sf Regal Cinemas along the Grand Pkwy. at 4495 Riley Fuzzel Rd.

Dubbed Regal Benders Landing, the 24-screen theater complex will offer roughly 4,300 seats and include more than 24,000 sf of restaurant, entertainment, and retail space. 

Regal Cinemas, a part of Cineworld Group, purchased the 14-acre site from Santikos Entertainment as part of a deal to acquire the company's two local theaters.

Opening is set for the​ end of first quarter 2020.
US map with house icons in Washington, Calif., NM, Co., Texas, Fla., and NY
For years, Texas has enjoyed a reputation as an economic powerhouse. While that's still true, other states are beginning to shine just as brightly. Read "States of Housing: Does Texas Still Have the Edge?" for more.

James Campbell says 'Aloha!' to Westmoreland warehouse

DALLAS (Dallas Business Journal) – Kapolei, Hawaii-base​d James Campbell Co. has purchased a 345,600-sf warehouse at 522 S. Westmoreland Rd. 

Built in 2018, the warehouse in the Redbird neighborhood is fully leased to tenants such as Leslie's Pool Supplies. It was last assessed for $11.9 million by the Dallas Central Appraisal District.

The seller, Brookfield Properties​, had owned the building since 2017. ​​​​
Helping Texans make the best real estate decisions since 1971.

Port San Antonio approves innovation center first phase

​​​​SAN ANTONIO (Connect Media) – Port San Antonio has approved $1 million for the first phase of its innovation center. 

The 130,000-sf cente​​​r will include a technology arena, museum, collaborative technology transfer lab, industry showroom, and community spaces.

Amenities will include a food hall, meeting spaces, and rooms for STEM educational activities.

Work will begin by June 30, 2020. 
annual report and calendar
There's only one week left to enter for a chance to win a copy of 2020 edition of the Center's ever-popular Annual Report + Calendar! To enter, take a one-question survey about the Center's content by Friday, Dec. 13. (While supplies last.) 

Work starts on 640K-sf industrial park at Alliance Texas

FORT WORTH (Dallas Morning News) – M2G Ventures is building an industrial park at I-35W and Golden Triangle Blvd.

Called North Quarter 35, the project will total 640,000 sf across four buildings at 10705 N. Freeway.

Stream Realty Partners will lease the development. FCL Builders is the general contractor, and GSR Andrade was the architect.​​​​

The first buildings will be ready in fourth quarter 2020.

M2G purchased the land in April. 
Looking for more real estate news? Our NewsTalk Texas feed has all the latest headlines. Here's a sample:

Conor Commercial to develop 198K-sf industrial project in Mesquite

MESQUITE (REBusiness Online) – Conor Commercial Real Estate has acquired 12.4 acres for the development of Skyline Commerce Park, a 197,600-sf speculative industrial project.

The park will consist of a 135,200-sf building with 32-ft clear heights and a 62,400-sf building with 28-ft clear heights, as well as 258 parking spaces and 12 trailer parking stalls.

The site offers immediate proximity to I-30 and US 80.

Cadence McShane is the general contractor. Construction is slated to begin this year and complete in fourth quarter ​​2020. 
harbor bridge in corpus christi
A new, higher Harbor Bridge was necessary for the nation's third-largest port, but what happened when that bridge encroached on a nearby neighborhood? Part one of this two-part series tells the story. Read "Under the Bridge: Relocating a Corpus Christi Neighborhood" online now. 

Black Creek starts on 569K-sf industrial project in Fort Worth

FORT WORTH (REBusiness Online) – Black Creek Group has broken ground on Carter Logistics Center, a 569,000-sf industrial project.

The project will include three buildings ranging from 88,000 to 250,000 sf. They will have 32-ft clear heights, 180-ft truck court depths, and proximity to I-35 and 20.

CBRE is leasing the project, which will deliver in third quarter ​2020.
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 Real Estate Center, and all MLSs across the state. 

Source Logistics signs in South Texas

​​​LAREDO (REBusiness Online) – Source Logistics has signed a 432,280-sf industrial lease at Port Grande Logistics Port. 

The retail and e-commerce supply chain operator will occupy all of Building 2, which is nearing completion​​​.

California-based Majestic Realty is the developer of the project off I-35. ​​
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255K-sf Houston area office portfolio trades hands 

​​​HOUSTON (REBusiness Online) – Hartman Income REIT has acquired a three-building office portfolio totaling 254,234 sf​.

The properties are​:
  • a 102,893-sf building at 1400 Broadfield Blvd.;
  • a 83,760-sf building at 16420 Park 10; and 
  • a 67,581-sf building at 7915 FM 1960.
On average, the three were 55.2 percent leased at the time of sale.

JLL represented the seller.
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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 Real Estate Center at Texas A&M University should not be reprinted without permission of the original source. To send news items for consideration, e-mail Hayley Rieder. The Real Estate Center is part of Mays Business School at Texas A&M University in College Station - the heart of the Research Valley.



https://www.recenter.tamu.edu/news/recon/?Item=332
RECON for December 3, 2019RECON for December 3, 2019Bryan PopePope
2019-12-03T06:00:00Z2019-12-03T06:00:00Z

RECON Real Estate Center
What's happening in Texas real estate? Plano named third-safest city nationally, work starts on 222K-sf Houston industrial project, and UT Regents approve the development of two health complexes in Tyler. Keep reading for the details. (Rendering from the University of Texas at Tyler.)
December 3, 2019

WalletHub: Plano third-safest city nationally

​WASHINGTON (WalletHub) – Plano took the number three spot on WalletHub's rankings of 2019's safest cities in America, trailing only Columbia, Md., and Yonkers, N.Y.

The Collin County city ranked second in home and community safety, 44th in financial safety, and 113th in natural disaster risk. 

No. 17 Laredo, No. 23 Brownsville, No. 36 Irving, and No. 39 Grand Prairie also made the top 25 percent of the 180 cities WalletHub analyzed. 

Brownsville and No. 63 Corpus Christi were second and third in lowest natural disaster risk, respectively. Brownsville, however, had the fifth-highest unemployment rate. 

Brownsville and Laredo had the two highest percentages of uninsured residents. No. 157 Dallas and No. 126 Houston ranked fourth and fifth in that metric, respectively. 

Earlier this year, WalletHub ranked Plano as the fourth-best city for families and the sixth-most relaxed city. 
Map showing micro markets west of DFW
Census data show people flocking to Texas' major metros, but many of the state's "micro markets"—towns like Fredericksburg, Rockport, and Athens—are building reputations as recreational and retirement havens. Read "Small Cities, Big Opportunities" for more. 

Partnership breaks ground on 222K-sf Ella West Crossing 

HOUSTON (REBusiness Online) – A partnership between Seefried Industrial Properties and USAA Real Estate has broken ground on Ella West Crossing, a 221,393-sf industrial property in the Pinto Business Park.

The development near the Bush Intercontinental Airport and I-45 will feature cross-dock and front-load spaces that can accommodate users needing as little as 40,000 sf.

It will have 32-ft clear heights, 185-ft truck court depths, 67 trailer parking spaces, and an ESFR sprinkler system.

Completion is scheduled for July 2020. 

Powers Brown Architecture is designing the project, and Rosenberg Construction is the general contractor. Avison Young will handle leasing.
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The Center's Annual Report + Calendar giveaway is back again! For a chance to get your hands on the 2020 edition of the always popular calendar (while supplies last), take a one-question survey about the Center's content by Friday, Dec. 13. No purchase necessary. 

PMB Capital snags 3,400 acres for master-planned community 

RHOME (Connect Media) – PMB Capital acquired more than 3,400 acres at SH 114 and US 287 in Wise County for a large-scale, master-planned community.

At buildout, the development will offer 10,000 housing units, 800 acres of open space, an extensive trail system, and commercial space.

The site is positioned in the Northwest Independent School District. The land has existing elementary and middle schools.

The first phase will start​ in 2020.
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. 

UT Regents allocate $95 million for two Tyler facilities

TYLER (Connect Media) – The University of Texas Board of Re​gents has allocated $95 million for two facilities on the UT East Texas campus.

A $60 million Graduate Medical Education & Resident Teaching facility will be built at the UT Health Science Center at 11937 US 271.

The remaining $35 million will be used to build the Advanced Nursing & Health Sciences Complex at UT Tyler's campus on University Blvd. ​
texas state capital on sunny day
It would take you hours upon hours to sift through recently passed state legislation finding which new laws apply to you and how. Thanks to this summary, you don't have to. Read "2019 Legislation Lowdown: What You Need to Know," to get updated.

Chicago investor flying high with Mockingbird buy

​​DALLAS (Dallas Morning News) – Chicago-based​ GlenStar Properties has purchased the 20-story Premier Place office tower from CBRE Global Investors. 

​​The 458,000-sf, green-glass building at 5910 N. Central Expy. is connected to Mockingbird Station by a pedestrian bridge. 

It is over 90 percent leased to tenants including AmWins, Merrill Lynch, Mill Creek Residential, and Goodnight Midstream. 

JLL marketed the building for sale. The seller had owned the building since​ 2013. 
Communication Matters video seriesThe Real Estate Center's Texas Home Price Index measures price appreciation changes for residential single-family homes. It provides data for eight different Texas metros across three different price ranges.

Buckland Global Trade Services inks 250K-sf Laredo lease

​​​​​​​​LAREDO (REBusiness Online) – Canada-based Buckland Global Trade Services Inc. has signed a 250,000-sf industrial lease in Khaledi Industrial Park at 10502 I-35. 

The build-to-suit property is near the World Trade International Bridge, which connects to Nuevo Laredo. 

Forum Commercial Real Estate represented​​​ the tenant.​
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Finding the Real Estate Center on social media is easier than ever. Follow us on Facebook, Twitter, LinkedIn, and Instagram @recentertx so you never miss what's happening in Texas real estate.

Hawaiian investor picks up 345K-sf Dallas warehouse

DALLAS (Dallas Morning News) – James Campbell Co. has purchased the Brookfield Executive Distribution Center at 5220 S. Westmoreland Rd.

The 345,000-sf warehouse and office building was constructed in 2009 and is fully leased to a pool supply firm.

The seller, Brookfield Properties, had owned the building since 2017.
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Copyright © 2019, All rights reserved.
Material herein is published according to the fair-use doctrine of U.S. copyright laws related to non-profit, educational institutions. Items attributed to sources other than the Real Estate Center at Texas A&M University should not be reprinted without permission of the original source. To send news items for consideration, e-mail Hayley Rieder. The Real Estate Center is part of Mays Business School at Texas A&M University in College Station - the heart of the Research Valley.
https://www.recenter.tamu.edu/news/recon/?Item=331
RECON for November 26, 2019RECON for November 26, 2019Bryan PopePope
2019-11-26T06:00:00Z2019-11-26T06:00:00Z

RECON Real Estate Center
woman in sweater holding calendar
The Center's Annual Report + Calendar giveaway is back again! For a chance to get your hands on the 2020 edition of the always popular calendar (while supplies last), take a one-question survey about the Center's content by Friday, Dec. 13. No purchase necessary. 
November 26, 2019

HAR: Most Houston home sellers work with Realtors over iBuyers

​​HOUSTON (Houston Association of Realtors) – One-third of local current, recent, or future home sellers were aware of the iBuyer concept this year, according to the Houston Association of Realtors' (HAR) 2019 iBuyer Consumer Survey. ​​​​​

​Nearly four in ten of current sellers were aware of the iBuy​​er sales option, and 41 percent considered an iBuyer approach. However, 92 percent of survey respondents have chosen to work with a Realtor. 

Around 39 percent of respondents were either somewhat/very/extremely likely to work with an iBuyer in the future. ​ ​

The main reason for engaging with an iBuyer service was to get a read on the selling price of the home, respondents said. However, iBuyer fees are typically higher than average real estate commission rates, and homes are projected to sell for 11 percent less through an iBuyer method than through traditional methods. Other reasons for rejecting an iBuyer service include the fear of the program being illegitimate or the service not buying homes in the seller's area/price point.

For respondents not satisfied with the traditional home-selling process, four key drivers affected their dissatisfaction: time it took to sell, not enough interested buyers, not enough offers received, or offers were two low. Consumers who were dissatisfied were twice as likely to say they would use an iBuyer service. 

Respondents who ​were satisfied with the traditional sales process had positive attitudes about the responsiveness, service, and support they received from their Realtor. They also were satisfied by the education they received from their agent and the amount of homeowner effort required in the process.​​​​​

97-acre community planned for SA's far west side

SAN ANTONIO (San Antonio Business Journal) – PMI is leading the development of Vicinia, a 97-acre master-planned community near Potranco Rd. and W. Military Dr.

The infill project will include retail, office, and civic spaces as well as multifamily units. A two-acre, tree-lined town square will be its centerpiece.

Multiple developers are on the project team.​

Construction of streets and utilities will be complete by July 2020. Vertical development will start next year.
sunny street in downtown abilene
The Key City is home to several universities and an Air Force base, so it stands to reason that the residential rental market plays an important role in the area's overall housing market. Learn more in "Abilene: Population Growing, Housing Cooling."

Austin home sales shatter October records

AUSTIN (Austin Board of Realtors) – Although the inventory of single-family homes dropped to an all-time October low, home sales experienced a double-digit percent increase in the metro, according to the Austin Board of Realtors. 

Last month, single-family home sales increased 16.8 percent to 2,721 sales. The median sales price increased 7.4 percent to $327,000.

The metro's ​escalating demand and record-breaking median home price resulted in a 23.3 percent increase in sales dollar volume, raising October's total to $1.1 billion.

New listings increased 8.4 percent to 3,067 listings, while active listings decreased 12.1 percent to 6,381 listings. Pending sales jumped 25.3 percent to 2,866 pending sales.

Housing inventory decreased 0.5 months year over year to 2.3 months of inventory. 
Communication Matters video seriesThe Real Estate Center's Texas Home Price Index measures price appreciation changes for residential single-family homes. It provides data for eight different Texas metros across three different price ranges.

Stream acquires 333 acres for Empire West Business Park

BROOKSHIRE (Houston Business Journal) – Stream Realty Partners has purchased 333 acres at the northwest corner of I-10 and Woods Rd. for the development of Empire West Business Park. 

The property will be built in three stages. The first phase will focus on construction of two 150,000-sf buildings and a third one totaling more than 750,000 sf.

Phase two will focus on landing tenants for built-to-suit projects. 

​Stream has partnered with Simpkins Group, who initiated the property’s development. Houston-based McMillian Interests was the seller. 

Phase one will begin in early 2020. 
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. 

Quadrant brings major mixed-use development to SA's East Side

SAN ANTONIO (San Antonio Express-News) – Dallas-based Quadrant Investment Properties is working on East End, a mixed-use development on five acres at 1220 E. Commerce St.

The project will include a six-story, 187,000-sf office building, a 40,000-sf retail building, and a 700-car parking garage.

Office amenities will include a rooftop deck, fitness center, coffee bar, restaurant, conference room, boardroom, and private meeting rooms.

Construction will start in July 2020. 
monthly review - october 2019
Read more in our latest Monthly Review of the Texas Economy report. 

16-story Deep Ellum mixed-use tower underway

DALLAS (Dallas Morning News) – Hines is building a retail and office tower in the Deep Ellum district on Commerce St.

Called The Stack, the 16-story mixed-use project will include 15,000 sf of street-front retail space, 200,000 sf of offices, and a 640-space parking garage.

The building will have terraces on each floor and a sky lounge on the upper floors.

Designed by 5G Studio Collaborative, the tower is being built in partnership with Westdale Real Estate Investment and Management and Ivanhoe Cambridge.​​

Opening is set for​ early 2021.
From mortgage interest rates to rates of return on commercial investments, the impact of U.S. monetary policy on real estate markets can't be overstated. Find out why by reading our latest article, "Markets & Money: Real Estate and Monetary Policy."

106K-sf H-E-B coming to Kerrville

KERRVILLE (Connect Media) – H-E-B is developing a 106,000-sf store on Main St.

The store will feature an expanded frozen department, Meal Simple ar​ea, pharmacy, bakery department, demonstration kitchen, and barbeque restaurant. 

It will replace the current 79,000-sf store at 300 Main St., which opened in 1984.​​​

Construction will be complete by late 2020. 
Sketchy drawing of commercial buildingsThe Real Estate 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. 

Athena Domain builds 300-unit South Flores Lofts 

SAN ANTONIO (San Antonio Business Journal) – Athena Domain is developing South Flores Lofts, a 430,000-sf multifamily complex at 205 E. Cevallos St.

The $58.4 million project will have 292 units and an attached parking structure.

The complex will include a mix of affordable and market rate units.

Earlier this month, the project received a non-binding inducement by the housing trust, which will provide a property tax exemption. 

$140M Ventana high-rise senior-living community opens

DALLAS (REBusiness Online) – Buckner Senior Living has opened Ventana by Buckner, a 301-unit seniors housing community at 8301 N. Central Expy.

Designed by D2 Architecture, the $140 million project features two 12-story towers that house 189 independent-living, 38 assisted-living, and 26 memory-care units as well as 48 nursing apartments.

Apartments range from 950 to 2,000 sf. ​​​
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Copyright © 2019, All rights reserved.
Material herein is published according to the fair-use doctrine of U.S. copyright laws related to non-profit, educational institutions. Items attributed to sources other than the Real Estate Center at Texas A&M University should not be reprinted without permission of the original source. To send news items for consideration, e-mail Hayley Rieder. The Real Estate Center is part of Mays Business School at Texas A&M University in College Station - the heart of the Research Valley.
https://www.recenter.tamu.edu/news/recon/?Item=330
RECON for November 22, 2019RECON for November 22, 2019Bryan PopePope
2019-11-22T06:00:00Z2019-11-22T06:00:00Z
​ ​
RECON Real Estate Center
aerial view of a dallas suburb in the fall
According to the National Association of Realtors’ latest report, housing sales through MLSs rebounded across the nation in October, rising 4.6 percent year over year. How does that compare to the Lone Star State? Keep reading today's RECON to get insights from the Real Estate Center's research team. (Photo from Center files.)
November 22, 2019

Texas home sales growth robust amid strong economic activity

​​COLLEGE STATION (National Association of Realtors) – According to the National Association of Realtors' latest report, housing sales through Multiple Listing Services rebounded across the nation in October, rising 4.6 percent year over year. Texas doubled that growth amid robust economic activity. 

Researchers from the Real Estate Center at Texas A&M University said last year's combination of rising interest rates and falling oil prices stalled the housing market, setting the stage for the positive reading. Despite these base-year effects, the current trend points steadily upward. 

Texas sales surpassed a monthly high after accounting for seasonal factors and are projected to close the year up around 3.2 percent annually, while national sales look to be slightly below 2018 levels. Lower mortgage rates may encourage buyer activity into the holidays. ​

Nationally, exsiting-home sales rose 1.9 percent over the month in October. The median existing-home price for all housing types was $270,900. 

Existing-home sales in the South (the region that includes Texas) increased 4.4 percent to an annual rate of 2.35 million in October, up 7.8 percent from a year ago. The median price in the South was $234,900, a 6 percent yearly increase.​
white piggy bank wearing santa hat
Holiday spending is driven largely by the current economic climate. Three Texas cities have ranked in the top ten cities with the biggest holiday budgets. But how can Texans avoid breaking the bank this year? Read our latest Mixed-Use blog.

Old Boy Scouts camp to become 536-acre public park 

WIMBERLEY (Austin Business Journal) – The Nature Conservatory (TNC) and Hays County are turning 536 acres of El Rancho Cima, a former Boy Scout camp, into a public park and watering hole.

The land, which is 20 miles west of San Marcos along the Blanco River, will be turned into a large park with a mile of waterfront.

With the population of Austin expected to double by 2040, TNC's associate director of land protections says "it's critical we protect some of the environment and provide places for the public to recreate."

Rio Blanco LLC sold the 2,382-acre camp. Ranch Investments & Associates was the broker. 
pink and blue backgroun with 0s, 1s, and mathematical equations
With home sales data yo-yoing month to month, how can anyone make sense of what's happening in the market? The answer is much simpler than you might expect. Read "Filtering Out the Noise: Seasonally Adjusting Housing Data" online now.

Advenir acquires 360-unit Legado Ranch 

ODESSA (JLL) – Aventura, Fla.-based Advenir LLC has acquired the 360-unit Legado Ranch Apartments at 4001 De Morada Dr.

Completed in 2018, the 326,838-sf property offers studio and one- and two-bedroom units. Rents range from $1,275 to $2,025 per month.

Amenities include a pool, cabana, dog park, playground, clubhouse, movie theater, and fitness center.

JLL arranged a seven-year, fixed-rate loan through Freddie Mac on behalf of the new owner​. 
New Executive Director Announced The Texas Real Estate Commission (TREC) is pleased to announce Chelsea Buchholtz as Executive Director of TREC effective January 1, 2020. She will be the first female executive director in TREC’s history. The Executive Director also serves as the Commissioner of the Texas Appraiser Licensing and Certification Board (TALCB), who participated significantly in the selection process. Ms. Buchholtz currently serves as the Commission’s General Counsel. She will succeed long-serving Executive Director and Commissioner, Douglas Oldmixon, who will remain with the agency for a period of transition through March 2020. TREC and TALCB exist to safeguard consumers in matters of real estate property transactions and valuation services. More information regarding this transition to follow.

Apartment project to complete shopping center in Allen 

ALLEN (Dallas Morning News) – Dalcour Holdings LLC is building a 470-unit, four-story apartment community that will finish out an existing shopping center and Cinemark movie theater project. 

The project at the southeast corner of SH 121 and Watters Rd. will fill a seven-acre vacant tract in the middle of the mixed-use development.

Along with the standard rental units, the development will include 30 two-story live-work units. 

Construction will begin in early- to mid-2020.
Looking for more real estate news? Our NewsTalk Texas feed has all the latest headlines. Here's a sample:

30-acre Sportsplex underway in San Marcos 

SAN MARCOS (Connect Media) – The city and Pursuant Ventures Development LLC are turning 30 acres on Centerpoint Rd. into an indoor/outdoor sports and entertainment complex.

The Sportsplex will feature eight championship baseball fields and education, computer, and study rooms.

The cost is estimated to be $19.8 million, including ​a 3 percent contingency fund.

Construction will start in early 2020.
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 Real Estate Center, and all MLSs across the state. 

Mexico City investor picks up 250K-sf Lewisville office campus

LEWISVILLE (Dallas Morning News) – A unit of Mexico-based Aztec Fund has purchased two office buildings totaling 250,000 sf.

Built in 2004 and 2006, the Lake Vista 3 & 4 buildings are near I-35E and Sam Rayburn Tollway.

They are fully leased to Nationstar Mortgage's Mr. Cooper home loan operation. They previously housed offices for JPMorgan Chase.

JLL marketed the buildings for sale.
Helping Texans make the best real estate decisions since 1971.

31-story tower rising near SXSW Center

AUSTIN (Austin Business Journal) – A partnership led by Cypress Real Estate Advisors is developing a 31-story tower at the corner of 14th and Guadalupe Streets.  

The 326,509-sf high-rise will​ replace the office building that currently houses the Combined Law Enforcement Associations of Texas headquarters. 

It will be directly across from the 13-story SXSW Center.​
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Mixed-use project underway in Las Colinas’ Urban Center 

IRVING (Dallas Morning News) – The city council has approved the construction of a 5.3-acre mixed-use project on a vacant corner at North O'Connor and Las Colinas Boulevards.

The project will include a ten-story, 248-room hotel; a nine-story, 225-room hotel; a four-story office building; and a parking garage. 

Type Six Development is working with the property owne​​r, an affiliate of Dallas' State Bank of Texas, on the project.
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Copyright © 2019, All rights reserved.
Material herein is published according to the fair-use doctrine of U.S. copyright laws related to non-profit, educational institutions. Items attributed to sources other than the Real Estate Center at Texas A&M University should not be reprinted without permission of the original source. To send news items for consideration, e-mail Hayley Rieder. The Real Estate Center is part of Mays Business School at Texas A&M University in College Station - the heart of the Research Valley.
https://www.recenter.tamu.edu/news/recon/?Item=329
RECON for November 19, 2019RECON for November 19, 2019Bryan PopePope
2019-11-19T06:00:00Z2019-11-19T06:00:00Z

RECON Real Estate Center
Rendering of the Allen, a walkable, green mixed-use community in Houston
Work has started on The Allen, a six-acre luxury mixed-use development in Houston. Get the details on this story and more in today's RECON. (Photo from DC Partners.)
November 19, 2019

Texas sees fifth consecutive month of record-low unemployment

​​​AUSTIN (Texas Workforce Commission) – Texas' unemployment rate held steady last month at 3.4 percent, matching the record-low rate set in June 2019, according to the Texas Workforce Commission. 

Total non-farm annual employment growth was at 2.4 percent in October. It​ has held above 2 percent since February 2018. Over the year, Texas employers added 297,100 jobs. 

The Texas metro with the lowest non-seasonally adjusted unemployment rate was Midland at 2.1 percent. McAllen-Edinburg-Mission had the highest at 5.6 percent.

The construction industry saw the most seasonally adjusted growth in employment from October 2018 to October 2019, growing 6.9 percent. The mining and logging and information industries were the only two sectors to see a drop in employment, falling 0.5 and 0.2 percent, respectively.
texas border economy September 2019 summary
Read more in our latest Texas Border Economy report. 

Hines buys business campus on Trinity River

DALLAS (Dallas Morning News) – Hines has purchased The Inwood Center, a 740,000-sf retail and industrial campus on the Trinity River.

The 14 buildings are on 38 acres at Inwood Rd. and Conveyor Ln. The land is zoned for high-density development with buildings 20 stories and taller allowed.

Constructed in the 1960s and 1970s, the center was previously owned by Vantage Cos.

Buildings​ are 90 percent leased to tenants including Crate & Barrel, Gulfstream Aerospace, Community Coffee, and Bearing Distributors.

JLL brokered the transaction.
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The Allen breaks ground near Buffalo Bayou Park

HOUSTON (REBusiness Online) – DC Partners has broken ground on The Allen, a six-acre mixed-use project near Buffalo Bayou Park at Gillette St. and Allen Pkwy.  

The development will include a 99-unit condominium building, a Thompson-branded luxury hotel, an office building, and retail/restaurant spaces. ​

The grand opening is slated for first quarter 2021, though the hotel will not deliver​​ until 2023. 

DC Partners is developing the project in partnership with Tianqing Real Estate Development and Westmont Hospitality Group.
Sketchy drawing of commercial buildingsThe Real Estate 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. 

Walmart leases Fort Worth warehouse

FORT WORTH​ (Dallas Business Journal) – W​almart Inc. has signed a 213,000-sf lease at a recently built warehouse at 1201 N.E. Loop 820.

The 270,000-sf building, the second at the Park 820 development, was developed by Indianapolis-based Scannell Properties. 

The Bentonville, Ark.-based retailer will use the space to house fixtures and supplies for store remodels. Around 30 employees will work there. 

Walmart already occupies two distribution centers in the Fort Worth area.
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. 

More apartments coming to Creekside Park Village Center

THE WOODLANDS (Connect Media) – The Howard Hughes Corp. is developing a second multifamily​ project in its Creekside Park Village Center development ​​​at 8440 Creekside Green Dr.

The six-building, 360-unit property will offer one, two, and three-bedroom units ranging from 600 to 1,400 sf. Private attached garages will be available for all buildings.

Community amenities include a swimming pool and cabana with resident wet bar, fireplace, dog park, grilling areas,​ package delivery room, coffee bar, and electric vehicle charging stations.

Humphreys & Partners designed the project. 
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Austin Energy powers through construction of 275K-sf HQ

AUSTIN (Austin Business Journal) – Austin Energy is building a $150 million headquarters on 3.3 acres at 4815 Mueller Blvd.

The four-story, 275,000-sf building will house 900 to 1,000 employees.

It will have a series of 400-kilowatt photovoltaic solar panels.

Construction will wrap up in early 2021.
Communication Matters video seriesThe Real Estate Center's Texas Home Price Index measures price appreciation changes for residential single-family homes. It provides data for eight different Texas metros across three different price ranges.

121K-sf industrial lease signed in Hutchins

HUTCHINS (REBusiness Online) – National Container Group LLC has signed a ten-year, 120,960-sf industrial lease at Intermodal Business Center.

Built in 2017, the property features 32-ft clear heights, an ESFR sprinkler system, and 38 dock doors. It is being reconfigured.​​​

Cushman & Wakefield represented the tenant.

Bradford Commercial Real Estate Services represented the landlord, Intermodal Warehouse Partners.

Tarantino Properties captures 174K-sf Cypress Pointe 

CYPRESS (REBusiness Online) – Tarantino Properties has purchased Cypress Pointe, a 173,344-sf, Kroger-anchored shopping center at 360 Cypress Creek Pkwy. 

The property was 99 percent leased at the time of sale. 

JLL represented the seller, Houston-based Weingarten Realty Investors and procured​ an acquisition loan through Morgan Stanley. 
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Material herein is published according to the fair-use doctrine of U.S. copyright laws related to non-profit, educational institutions. Items attributed to sources other than the Real Estate Center at Texas A&M University should not be reprinted without permission of the original source. To send news items for consideration, e-mail Hayley Rieder. The Real Estate Center is part of Mays Business School at Texas A&M University in College Station - the heart of the Research Valley.
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