| RECON for November 19, 2019 | RECON for November 19, 2019 | Bryan Pope | Pope
| 2019-11-19T06:00:00Z | 2019-11-19T06:00:00Z |
|
|
| Work has started on The Allen, a six-acre luxury mixed-use development in Houston. Get the details on this story and more in today's RECON. (Photo from DC Partners.) |
|
AUSTIN (Texas Workforce Commission) – Texas' unemployment rate held steady last month at 3.4 percent, matching the record-low rate set in June 2019, according to the Texas Workforce Commission.
Total non-farm annual employment growth was at 2.4 percent in October. It has held above 2 percent since February 2018. Over the year, Texas employers added 297,100 jobs.
The Texas metro with the lowest non-seasonally adjusted unemployment rate was Midland at 2.1 percent. McAllen-Edinburg-Mission had the highest at 5.6 percent.
The construction industry saw the most seasonally adjusted growth in employment from October 2018 to October 2019, growing 6.9 percent. The mining and logging and information industries were the only two sectors to see a drop in employment, falling 0.5 and 0.2 percent, respectively.
|
|
DALLAS (Dallas Morning News) – Hines has purchased The Inwood Center, a 740,000-sf retail and industrial campus on the Trinity River.
The 14 buildings are on 38 acres at Inwood Rd. and Conveyor Ln. The land is zoned for high-density development with buildings 20 stories and taller allowed.
Constructed in the 1960s and 1970s, the center was previously owned by Vantage Cos.
Buildings are 90 percent leased to tenants including Crate & Barrel, Gulfstream Aerospace, Community Coffee, and Bearing Distributors.
JLL brokered the transaction.
|
|
HOUSTON (REBusiness Online) – DC Partners has broken ground on The Allen, a six-acre mixed-use project near Buffalo Bayou Park at Gillette St. and Allen Pkwy.
The development will include a 99-unit condominium building, a Thompson-branded luxury hotel, an office building, and retail/restaurant spaces.
The grand opening is slated for first quarter 2021, though the hotel will not deliver until 2023.
DC Partners is developing the project in partnership with Tianqing Real Estate Development and Westmont Hospitality Group.
|
|
 The 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.
|
|
FORT WORTH (Dallas Business Journal) – Walmart Inc. has signed a 213,000-sf lease at a recently built warehouse at 1201 N.E. Loop 820.
The 270,000-sf building, the second at the Park 820 development, was developed by Indianapolis-based Scannell Properties.
The Bentonville, Ark.-based retailer will use the space to house fixtures and supplies for store remodels. Around 30 employees will work there.
Walmart already occupies two distribution centers in the Fort Worth area.
|
|
 Hungry 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.
|
|
THE WOODLANDS (Connect Media) – The Howard Hughes Corp. is developing a second multifamily project in its Creekside Park Village Center development at 8440 Creekside Green Dr.
The six-building, 360-unit property will offer one, two, and three-bedroom units ranging from 600 to 1,400 sf. Private attached garages will be available for all buildings.
Community amenities include a swimming pool and cabana with resident wet bar, fireplace, dog park, grilling areas, package delivery room, coffee bar, and electric vehicle charging stations.
Humphreys & Partners designed the project.
|
|
| Did you know you can get notified every time one of our new economic reports is released? Check out our email notification feature to get the latest economic data sent directly to your email inbox for free. |
|
AUSTIN (Austin Business Journal) – Austin Energy is building a $150 million headquarters on 3.3 acres at 4815 Mueller Blvd.
The four-story, 275,000-sf building will house 900 to 1,000 employees.
It will have a series of 400-kilowatt photovoltaic solar panels.
Construction will wrap up in early 2021.
|
|
 The 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.
|
|
HUTCHINS (REBusiness Online) – National Container Group LLC has signed a ten-year, 120,960-sf industrial lease at Intermodal Business Center.
Built in 2017, the property features 32-ft clear heights, an ESFR sprinkler system, and 38 dock doors. It is being reconfigured.
Cushman & Wakefield represented the tenant.
Bradford Commercial Real Estate Services represented the landlord, Intermodal Warehouse Partners.
|
|
CYPRESS (REBusiness Online) – Tarantino Properties has purchased Cypress Pointe, a 173,344-sf, Kroger-anchored shopping center at 360 Cypress Creek Pkwy.
The property was 99 percent leased at the time of sale.
JLL represented the seller, Houston-based Weingarten Realty Investors and procured an acquisition loan through Morgan Stanley.
|
|
| |
|
| https://www.recenter.tamu.edu/news/recon/?Item=328 |
