RECON for July 30, 2019RECON for July 30, 2019Bryan PopePope
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RECON Real Estate Center
Rendering of Kalahari resort in Round Rock
Funding has been approved for a 200,000-sf city-owned convention center within the 351-acre Kalahari Resort under construction in Round Rock. The details are in today's RECON, so keep reading for more. (Photo from Kalahari Resorts and Conventions.)
July 30, 2019

Routh and Howell seeing double

DALLAS (Dallas Morning News) – Two high-rise developments are gearing up across from each other at Routh and Howell Streets.

Stream Realty ​is adding a 12-story office tower and small retail and restaurant buildings to the four-acre Quadrangle ​property​ it purchased earlier this year.​

Across Routh St. on what is now a parking lot, Ryan Cos. will build an 18-story office tower, 22-floor apartment high-rise, and ​small hotel, replacing several small buildings along Cedar Springs Rd.

Ryan Cos. is teaming up with GFF and Greenway Investment Co. for the project.
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Kalahari Resort gets funding for 200K-sf convention center 

ROUND ROCK (Connect Media) – The Transportation and Economic Development Corp. and the city council have approved the sale of $21.3 million sales tax revenue bonds to build a convention center within the 351-ac​re Kalahari Resort.

The 200,000-sf convention center will include a large-scale meeting space and a ballroom, expected to be the largest in Central Texas.

The city will own the convention center, while Kalahari will be responsible for operation and maintenance​. The debt will be repaid through state and city tax revenue generated by Kalahari.

Completion of the resort is set for November 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.

JV acquires 392-unit asset down by the bayou 

HOUSTON (REBusiness Online) – A joint venture between Excelsa Properties and Goldcor Capital Partners has acquired Bayou Parc at Oak Forest, a 392-unit multifamily community at 4000 Watonga Blvd. 

Built in 1974, the property consists of 36 two-story buildings with studio, one-, two-, and three-bedroom floor plans ranging in size from 480 to 1,210 sf. 

It​​ was 94 percent occupied at the time of sale.
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. 

123K-sf office building sold in Fort Worth

FORT WORTH (Connect Media) – A 122,828-sf office building in the West 7th District has been sold.

The building at 550 Bailey Ave. was renovated in 2008-09. Final upgrades to the common areas were completed during the seller's three-year ownership.

Transwestern Commercial Services represented the buyer, the Denton-based University of North Texas System.​

CBRE represented the seller.
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800-unit storage facility opens in north Austin

AUSTIN (REBusiness Online) – The Jenkins Organization has opened Northgate Storage, an 800-unit self-storage facility at 8875 Research Blvd.

The property spans 124,000 sf of climate-controlled space and fronts S.H. 183 on the city's north side.

Additional features include a covered loading zone, video monitoring, and gated access.
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 Sugar Land medical plaza under new ownership 

​​​​SUGAR LAND (REBusiness Online) – The 120,596-sf CHI St. Luke’s Health Sugar Land Medical Plaza at 1317 Lake Pointe Pkwy. has been sold.

The five-story building is within the CHI St. Luke’s hospital campus. 

CBRE represented the seller.

New multifamily underway near Bush Turnpike 

GARLAND (Dallas Morning News) – Wood Partners has broken ground on Alta Spring Creek, a new 225-unit rental community at 6310 Naaman Forest Blvd.

The nine-acre property is near the Bush Turnpike just south of Campbell Rd. Spring Creek runs along a portion of the property.

The development will open in mid-2020.
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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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