RECON for October 25, 2019RECON for October 25, 2019Bryan PopePope
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RECON Real Estate Center
Two clear glass awards with a bluish tint that read
The Real Estate Center took home two Silver Quill awards from the International Association of Business Communicators Southern Region. Tierra Grande magazine won an Award of Excellence, while the "Helping Texans Make Better Real Estate Decisions" Annual Report + Calendar earned an Award of Merit. (Photo by Center Graphic Designer Alden DeMoss.)
October 25, 2019

Henderson County has most unoccupied homes in Texas

​​​​​​WASHINGTON (Stacker) – Henderson County had the most unoccupied homes of any Texas ​county in 2018, according to a Stacker study.

The Northeast Texas county had 10,640 unoccupied homes last year, 25.6 percent of the total homes (41,483).​

There were​​ 412 homes for rent; 1,000 for sale; 263 rented but not occupied; 213 sold but not occupied; and 5,658 for occasional, recreational, or seasonal use. There are​​ 3,094 other vacant homes. 

According to the report, ​Henderson County draws retirees from Dallas and Houston. It leads the area and the state in its proportion of investment and retirement income. Its unemployment rate and cost of living are low, and its biggest employers are health care and medical device manufacturing.

The county seat of Henderson County is Athens. ​

Stacker used data from the U.S. Census Bureau 2018 American Community Survey to determine the list.
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Nonprofit buys East End acreage

​​​​​​​​​HOUSTON (Houston Business Journal) – The Center for Pursuit has purchased 5.8 acres at 4400 Harrisburg Blvd. from locally based Lovett Commercial.

​The nonprofit will build a new state-of-the-art facility for residential and day programs for adults with intellectual and developmental disabilities. 

Residential spaces will include assisted-living, group homes, home and community-based services, intermediate​-care, and independent/community living programs. 

The local​​ office of San Francisco-based Gensler designed the property. 

The Center is in the process of selling its former property near the intersection of Shepherd Dr. and Allen Pkwy. CBRE is marketing the property. 

Hanover closed on one of the two parcels and will purchase the second one in late 2020. The property will be home to a mixed-use development. ​​
Podcast 427: Third quarter 2019 Texas housing review
As fourth quarter 2019 gets into gear, we sit down with Real Estate Center Chief Economist Dr. Jim Gaines to review how the housing market fared in the third quarter. Take a listen.

$50M mixed-use center coming to Cielo Vista area

​​​​EL PASO (Connect Media) – Prestige Development Group is developing a 20-acre, $50 million mixed-use center just east of the Cielo Vista Mall.

The Gateway at 6767 Gateway W. Blvd. will span 550,000 sf. It will include:
  • four retail and restaurant buildings,
  • two three-story office buildings atop ground-floor retail,
  • two hotels,
  • an eight- to ten-story building with apartments on the top floors, and 
  • parking options. 
Construction will kick off in January 2020 and wrap up by 2023. 

The local developer acquired the land for $11 million from Magellan Midstream Partners in May 2019 
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Rezoning approved for E. Riverside property

AUSTIN (Connect Media) – The city council has approved zoning changes for 4700 E. Riverside, a 97-acre mixed-use redevelopment at E. Riverside Dr. and S. Pleasant Valley Rd.​

The development calls for:
  • 4,709 multifamily units,
  • 600 hotel rooms,
  • four million sf of office space,
  • 60,000 sf of medical/dental space, and
  • 435,000 sf of other ​commercial space.
Between 400 and 565 multifamily units will be reserved for people making 60 percent or less of the area's median income. An additional 100 will house the homeless. 

Developers Nimes Capital and Presidium will start on the 20-year buildout in 2023. 

Songy Highroads buys Sugar Land office

​​​​​SUGAR LAND ​(Realty News Report) – ​Atlanta-based Songy Highroads has purchased Sugar Creek Place I, a 151,722-sf, Class A office space at 14100 Southwest Fwy. 

​The six-story building is 86 percent leased.

Over the last five years, more than $1.7 million in capital upgrades have been implemented at the property. Upgrades include a conference facility, tenant lounge, common areas, renovated lobby and corridors, and four-story structured parking garage. 

Transwestern Commercial Services has been retained for leasing services. 

Earlier this year, Songy Highroads purchased a property to develop into Margaritaville at Lake Conroe
market viewer screen shotTexas Realtor's 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. 

Lisso tract rezoning approved

​​​​PFLUGERVILLE (Community Impact Newspaper) – The city council has approved rezoning for the Lisso tract, a 200-acre plot along Immanuel Rd. 

The agricultural​ land will soon be home to a mixed-use development from William Lyon Homes. 

Koontz passes Lakeview Villas to California buyer

NEW BRAUNFELS (REBusiness Online) – Irvine, Calif.-based Passco Cos. has purchased Lakeview Villas at 2090 Sundance Pkwy. from Koontz Corp.

The 313-unit apartment community off​​ers one- and two-bedroom floor ​​​​​plans. Rents range from $975 to $1,595 per month.

Amenities include a pool, outdoor kitchen, firepit, fitness center, clubhouse, and walking trail.

Marcus & Millichap brokered the sale. 
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Premier Refrigerated Warehouse moving to Johnson County

BURLESON (REBusiness Online) – Premier Refrigerated Warehouse has leased 200,000 sf at a new facility underway in Johnson County.

Austin-based Yukon Ventures and New Jersey-based Saxum Real Estate are codeveloping the 400,000-sf property.

The $50 million facility will deliver by fourth quarter 2021.

The Everly on Dunvale Rd. trades hands

HOUSTON (REBusiness Online) – The Praedium Group has purchased The Everly, a 387-unit multifamily community at 2827 Dunvale Rd. 

Built in 2018, the property features one- and two-bedroom floor plans.

Community amenities include a fitness center, Wi-Fi lounge, pool, outdoor fire pit, dog park, and dog wash, beer garden, and an indoor golf simulator. 

Berkadia represented the seller, San Antonio-based Embrey Partners Ltd.
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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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