RECON for November 20, 2018RECON for November 20, 2018Bryan PopePope

Real Estate Center Online News
rendering of M-K-T
Radom Capital and Triten Real Estate Partners are redeveloping 200,000 sf of industrial buildings in Houston into a mixed-use project called M-K-T. For the details, keep reading today's RECON. (Photo from the Michael Hsu Office of Architecture.)
November 20, 2018

North Texas a top CRE market

DALLAS (Dallas Morning News) – North Texas has the fifth best commercial real estate market in the nation, according to a Trepp survey.

"Big D ranked fifth in our study of high-performing metropolitan areas due to its high population growth (highest among all ranked markets) and low unemployment," the report said. "A key reason for those strong statistics is the area's enticing quality of life and low to no tax rates."

Houston-The Woodlands-Sugar Land also made the list, ranking ninth. 

The rest of the top ten include: 
  • No. 1 San Jose-Sunnyvale-Santa Clara, Calif.;
  • No. 2 San Francisco-Oakland-Hayward, Calif.;
  • No. 3 Seattle-Tacoma-Bellevue, Wash.;
  • No. 4 Miami-Fort Lauderdale-West Palm Beach, Fla.;
  • No. 6 Boston-Cambridge-Newton, Mass.-N.H.;
  • No. 7 New York-Newark-Jersey City, N.Y.-N.J.-Penn.;
  • No. 8 Los Angeles-Long Beach-Anaheim, Calif.; and
  • No. 10 Atlanta-Sandy Springs-Roswell, Ga.
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Builder confidence falls as affordability concerns rise

​​​​WASHINGTON (National Association of Home Builders) – Nationally, builder confidence in the single-family housing market fell eight points to 60 in November ​​on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI).

"​For the past several years, shortages of labor and lots along with rising regulatory costs have led to a slow recovery in single-family construction," said NAHB Chief Economist Robert Dietz. "While home price growth accommodated increasing construction costs during this period, rising mortgage interest rates in recent months coupled with the cumulative run-up in pricing has caused housing demand to stall."

All of the major HMI indices posted declines. The current sales conditions metric fell seven points to 67, the index measuring expectations in the next six months dropped ten points to 65, and the ​buyer traffic metric dropped eight points to 45.

​​Regionally, the South's HMI dropped two points to 68.
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. 

Radom Capital, Triten Real Estate plan 200K-sf redevelopment 

HOUSTON (Houston Business Journal) – Radom Capital and Triten Real Estate Partners are redeveloping a 12-acre site at N. Shepherd and 6th Streets. 

Roughly 200,000 sf of industrial buildings will be redeveloped into a mixed-use project that will contain 100,000 sf of creative office space and 100,000 sf of retail space. 

The development, dubbed M-K-T, is set to deliver in first quarter 2020.

Boston-based Long Wharf Capital LLC is also on the development team. 
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. 

Old Cowboys HQ becoming housing development

IRVING (Dallas Morning News) – Centurion American Development Group
​is transforming the Dallas Cowboys’ former home into a housing development two years after the team relocated to The Star in Frisco. 

Most of the office and practice facility at the 36-acre property at Valley Ranch on North LBJ Freeway has been knocked down to make way for a 230-home residential community.​

The first lots will deliver in July and August 2019 at Legends Crossing and will include villas, bungalows, and townhomes.

The community will also feature an entryway made of stone from the Cowboys' former offices and ten acres for open spaces.​​ 

Streets in the project will be named after Cowboys stars
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.

Travis County sports complex generating buzz

​​​LAKEWAY (Community Impact Newspaper) – ​Travis County commissioners ​have approved the concept plan for ​​​the Bee Creek Sports Complex.

The city is providing 70 acres at 4440 Bee Creek Rd. ​for $3.7 million approved by voters in a 2014 bond.

The project will include seven sports fields, batting cages, a meeting facility, playground, picnic area, trails, and food trucks.​

Voters approved $23.5 million for the project in November 2017. ​​​​
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Brixmor sells Houston's first multilevel H-E-B

HOUSTON (Houston Business Journal) – New York-based Brixmor Property Group Inc. has sold the area’s first multilevel H-E-B at 5106 Bissonnet St. in Bellaire for $17.25 million.

The store opened in 1994, and H-E-B closed it in March 2017 to begin construction, which included demolishing the entire strip center. 

The H-E-B Bellaire Market reopened in June. The main portion of the store sits on top of a two-level parking garage.

The buyer is an entity affiliated with Dallas-based Spectrum Properties Ltd. 
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Downtown mid-rise condo project opens

AUSTIN (Austin American-Statesman) – The mid-rise Tyndall condominium project has opened at 800 Embassy Dr.

The six-story project has 182 residences ranging from 571 to 2,400 sf.

Most units are priced between $300,000–$900,000 with penthouses ranging up to $1.7 million. More than 60 percent of the units are under contract.

Momark Development built the condos.

Allen convention center coming soon

ALLEN (Dallas Morning News) – The city’s $91 million convention center and hotel will open in two months after nearly two years of construction.

The five-story Marriott Delta will have 300 rooms wrapping around the central pool courtyard.​

It will be along US 75 and have meeting space and a large restaurant and bar area.​
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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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