RECON for October 31, 2017RECON for October 31, 2017Bryan PopePope

Real Estate Center Online News
Foggy Houston-area forest.
Happy Halloween! Fog settles in a wooded area near Houston. (Photo from Center files.)
October 31, 2017

Austin office rents among nation's priciest 

​​​AUSTIN (Austin Business Journal) – Office rents in Austin have topped Seattle and the Silicon Valley, according to CommercialCafe's latest report.

A tenant spending $5,000 per month for Class A office space can get 1,087 sf in the Capital City. That trails only Boston, where you could afford 1,006 sf; Washington, D.C. (849 sf); San Francisco ​(803 sf); and New York City (703 sf).

In Houston, $5,000 could get you 1,337 sf, and in Dallas 2,012 sf. For that same amount, you can rent 2,226 sf in San Antonio.

Office vacancies were at 10.5 percent across the Austin metro in the third quarter, according to Cushman & Wakefield. The asking rate for Class A space is at an all-time high of $55.77 per sf.

Class A office sf for $5,000/month

Work starts on International Logistics Center

​EULESS (Dallas Morning News) – Cabot Properties and Stream Realty Partners have broken ground on the International Logistics Center near SH 260 and SH 183.

The 40-acre business park near DFW International Airport will include over 640,000 sf of warehouse space​​.

Peinado Construction is the general contractor. GSR Andrade Architects designed the project. 
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. 

Hines enters San Antonio multifamily market

​​SAN ANTONIO (Houston Chronicle) – Houston-based Hines will break ground early next year on a four-story apartment project in The Rim.

The 396-unit, 380,000-sf community will sit on 11.4 acres at the southwest corner of Worth and La Cantera Parkways. It will offer units ranging from 682 to 1,479 sf.

Meeks + Partners designed the complex, which should deliver in spring 2019.
Obtaining a Texas Real Estate License coverObtaining a Texas Real Estate License is the most complete guide found anywhere to obtaining a Texas real estate salesperson's license. Everything from what activities require a license to actual application forms. This report has been reviewed by the Texas Real Estate Commission. 

Residence Inn breaks ground near Texas Medical Center

​​HOUSTON (Houston Business Journal) – Moody National Cos. has broken ground on a new Residence Inn by Marriott at 7807 Kirby Dr. 

The 16-story, 182-room hotel will open in early 2019. ​​It will include a 4.5-story parking garage and four private meeting spaces totaling 5,000 sf. ​
Click here to subscribe to RECON.

Are you subscribed to RECON? If not, click here to head to our website, where you can fill out this simple form for free. Once you do, the biggest headlines in Texas real estate will come straight to your inbox twice a week. Oh, and did we mention it's free?

California investor buys sixth River City property

​​​SAN ANTONIO (San Antonio Business Journal) – ​​​​​San Francisco-based Hamilton Zanze has purchased the 150-unit Quarry Townhomes in Alamo Heights. ​

The 178,872-sf complex on 6.5 acres at 250 Treeline ​Park offers one-, two-, and three-bedroom​ floor plans. It was 89 percent leased as of late September.

Hamilton Zanze​​​​ will renovate the property, which will be managed by its partner, Mission Rock Residential. ​

The purchase is the investment firm's sixth in the area. ​​
Helping Texans make better real estate decisions since 1971

vXchnge acquires Austin data center

​​AUSTIN (REBusiness Online) – Tampa, Fla.-based ​​vXchnge has purchased a 100,000-sf data center campus on 18 acres at 8025 N. I-35.

The colocation facility is currently doubling its capacity. Eventually, it'll be able to produce 26 megawatts of power. 
Communication Matters video seriesIn a series of four videos, the Real Estate Center at Texas A&M University explores what it takes to be an effective communicator. The presenter is Mays Business School Executive Professor John Krajicek.

Sears at Richardson Square sold

​​​RICHARDSON (Dallas Morning News) – Dallas-based ATR Corinth has purchased the 128,000-sf Sears store at the Richardson Square​​ Mall.

Sears has a short-term lease in the building at 201 S. Plano Rd., which will likely be redeveloped in a few years.

The store is one of three Sears locations recently purchased by ATR Corinth.

Partnership sells Class B office building

​HOUSTON (REBusiness Online) – Lykes Building Holding Associates and Smetana Texas Realty Associates have sold a Class B office building at 2525 N. Loop W.

2525 Inner Loop LP purchased the 136,325-sf building. It will invest in capital improvements and bring retail space to its adjacent pad sites. 

JLL brokered the sale. 
Real Estate Center economic reports advertisement
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.

 Search RECON Issues