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RECON for November 1, 2019RECON for November 1, 2019Bryan PopePope
2019-11-01T05:00:00Z2019-11-01T05:00:00Z

RECON Real Estate Center
In today's RECON: beer distributor opens facility in Temple, Richardson land sold to LASIK surgeon, and Imelda disaster aid available in San Jacinto County. Keep reading for the details. (Photo from Center files.)
November 1, 2019

Exclusive Furniture opens 176K-sf distribution center 

HOUSTON (Houston Business Journal) – Exclusive Furniture has opened its new 176,000-sf distribution center at 631 Buffalo Lakes Dr. in the Park 8Ninety development near the intersection of US 90 and Beltway 8. 

Equipped with 44 docks, including 22 for receiving and 22 for distribution, the facility has 10,000 sf of office space with two employee cafés, three coffee stations, a break room, a boardroom, and communal workspaces.

Exclusive's $20 million investment includes a 15-year lease, $850,000 for new storage racks, and $500,000 for new forklifts. 

The center will employ 80 full-time and 15 part-time workers.

​The project is nearly three times larger than the 67,000-sf facility the company previously occupied on Westbury Pkwy.

Dallas-based Trammell Crow Co. was the general contractor.
Texas is known for its rich history. However, much of that history is more sinister than it seems. In honor of Halloween, we've compiled a list of some of the state's most haunted historical properties. Read the full story in our latest Mixed-Use blog post. 

Imelda disaster aid now available in San Jacinto County

​​​​AUSTIN (Texas Workforce Commission) – The Texas Workforce Commission (TWC) is now accepting Disaster Unemployment Assistance (DUA) applications for workers in San Jacinto County who were impacted by Tropical Storm Imelda.

DUA has already been available in Chambers​, Harris, Jefferson, Liberty, Montgomery, and Orange Counties. 

Individuals can apply online through Unemployment Benefit Services or by calling a TWC Tele-Center Monday through Friday between 8 a.m. and 5 p.m. at 800-939-6631.​

The application deadline for San Jacinto workers is Dec. 2, 2019. Affected individuals in the other six counties must apply by Nov. 7, 2019.

DUA is an unemployment insurance benefit made available especially for victims of disaster. Click here to read the eligibility requirements. ​
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Embrey builds mixed-use project near Alamo Heights

SAN ANTONIO (San Antonio Express-News) – Embrey Partners is building 7600 Broadway​, a $50 million mixed-use project at the intersection of Broadway St., Nacogdoches Rd., and W. Nottingham Dr.

The project will include 216 apartments averaging 1,300 sf with monthly rents ranging from $3,000 to $4,000. Amenities will include a piano bar, fitness center, game room, and conference space.

There will also be 53,000 sf of office space, half of which will be home to Embrey's new headquarters. 

​Work on the project started in 2016 and will finish in fall 2021. 
TALB logoThe Texas Alliance of Land Brokers is hosting Advanced Farm & Ranch Practice Update: 2019 on Thursday, Nov. 21, 2019, at 8:30 a.m. This eight-hour TREC continuing education course will give real estate licensees an updated analysis of farm and ranch best practices including discussions of water rights, market changes, mineral right issues, new legislation, the new geographic competency requirements, and Broker’s Price Opinions. It will be at the Inn on Barons Creek at 308 S. Washington St. in Fredericksburg. It costs $395 for TALB and TLBN members and $495 for non-members. 

Ten-story office tower slated for Cypress Waters

COPPELL (Dallas Business Journal) – Billingsley Co. is building a ten-story office tower at 3003 Olympus Blvd. within the 1,000-acre Cypress Waters mixed-use development.

The first of three new office towers on North Lake, the 322,877-sf building will have 31,933-sf floorplates.

Construction is estimated to cost $53.4 million. ​​

It was designed by O'Brien Architects. Rogers-O'Brien Construction will build the project. Billingsley Co. will handle leasing.

Work starts next spring​​, with completion set for late 2021.
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. 

KEG 1 O'Neil cracks open 108K-sf distribution center 

TEMPLE (Temple EDC) – KEG 1 O'Neal LLC, a wholesale beer distributor, has opened a 108,000-sf distribution center on 23 acres in the Temple Industrial Park.

The center houses a regional office and commercial distribution warehouse with 110 employees. ​

The $11 million facility is one of four in Texas, joining centers in Early, Fredericksburg, and Weatherford. ​

Irving office pair purchased for $78.5M

IRVING (Dallas Business Journal) – Kawa Capital Management and a partner have ​purchased a pair of office buildings for $78.5 million or $278 per sf.

The two buildings at 4795 and 4851 Regent Blvd. were built in 2015 and 2016 and measure 282,438 sf combined.

They were sold by their development team, a joint venture between Stream Realty Partners and Chief Partners.

The sale was brokered by JLL.

Both properties are fully leased and are home to such tenants as First American Title, 7-Eleven, Atos IT Solutions, and Compass One LLC. 
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Granite 190 tract sees new future with LASIK buyer

RICHARDSON (CBRE) – CBRE has brokered the sale of 10.1 acres at SH 190 and Waterview Pkwy.

This is the last remaining tract in the Granite 190 Center project by Granite Properties.

Michael Mazaheri, MD, a LASIK surgeon in Dallas, purchased the land and is open to a long-term ground ​​lease of the property.

American Landmark buys, rebrands two Houston properties

HOUSTON (REBusiness Online) – Tampa, Fla.-based American Landmark has purchased two assets totaling 484 units.

One of the properties was the 234-unit Newport on the Lake at 1895 Barker Cypress Rd., which will be rebranded as Lakefront Villas.

The 250-unit Harbor View Apartments at 4855 Magnolia Cove Dr., being rebranded as The Jaxon, was also sold. 

The​​ assets were built in 2008 and 2010, respectively, and will undergo a combined $5.9 million capital improvement program.
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NIT acquires 152K-sf Houston distribution center

HOUSTON (REBusiness Online) – NIT Industrial has purchased a 151,260-sf distribution center at 12614 Hempstead Hwy.​

Colliers International represented both the buyer and the seller, STAG Houston 3 LP.

The new owner plans to make capital improvements to the asset.

Inogen leases industrial, office space in Plano

PLANO (CBRE) – Inogen has leased 154,097 sf of industrial and office space at 600 Shiloh Rd.

Their manufacturing operations will occupy about 90,000 sf of space while their call center will fill the remaining 60,000 sf.

The property's current tenant, Flextronics, will vacate the space at the end of 2019.

Inogen will move in​ early 2020.

CBRE represented Inogen as well as the landlord, Trident Capital Group.
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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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