RECON for January 3, 2020RECON for January 3, 2020Bryan PopePope

RECON Real Estate Center
Purple skies behind Austin skyline
What's happening in Texas real estate? Twelve Lone Star State master-planned communities among nation's top-selling, Inwood Trade Center sold, and Austin fourth-best city for job hunters. Read the first RECON of 2020 for all this and more. (Photo from Center files.)
January 3, 2020

WalletHub: Austin fourth-best city for finding a job in 2020

​​​​WASHINGTON (WalletHub) – Austin is the fourth-best city to find a job in this year, according to a WalletHub study.

The Texas capital ranked sixth in job market and 21st in socio-economics. 

Last year, Austin ranked as the fifth-best place to start a career. ​

Plano also had high marks, ranking fourth overall, 17th in job market, and 28th in socio-economics. The North Texas city was tied for first in highest median annual income. 

According to the study, the top three best places to find a job are Scottsdale​​, Ariz.; South Burlington, Vt.; and San Francisco. 

To compile the study, WalletHub looked at employment and economic data for 182 cities across the nation.
2020 Texas Housing & Economic Outlook
The U.S. and Texas economies are expected to slow in 2020 but still register solid positive growth, according to the Real Estate Center's 2020 Texas Housing & Economic Outlook. Read the exclusive report to hear more from our economists.

12 Texas master-planned communities among top-selling nationally

​​​​LOS ANGELES (RCLCO Real Estate Advisors) – One dozen Texas communities landed on RCLCO Real Estate Advisors' list of the top 50 m​​​aster-planned communities in 2019.

Eight of those communities are in the Housto​​n-The Woodlands-Sugar Land area. Three are in Austi​n-Round Rock, and one is in Dallas-Fort Worth.

Sonwest's Sonterra project in Jarrell sold 741 new homes last year, ranking first in Texas and tenth overall. 

Other Texas master-planned communities in the top 50 are:
  • No. 11 Howard Hughes Corp.'s Bridgeland in Cypress, 734 sales;
  • No. 17 Scarborough Lane's Sunfield in Buda, 550 sales;
  • No. 20 Johnson/Toll Brothers' Sienna in Missouri City, 517 sales;
  • No. 22 Johnson's Cross Creek Ranch in Fulshear, 484 sales;
  • No. 24 Land Tejas/Johnson Development's Harmony in Spring, 481 sales;
  • No. 31 AIRIA Development's Aliana in Fort Bend County, 420 sales;
  • No. 36 Hillwood Communities' Harvest in Argyle, 408 sales;
  • No. 42 Land Tejas' Balmoral in Houston, 389 sales;
  • No. 45 Caldwell Communities' Towne Lake in Cypress, 379 sales;
  • No. 48 Mariner Real Estate's Santa Rita Ranch in Liberty Hill, 372 sales; and
  • No. 50 Johnson's Woodforest in Montgomery, 356 sales.
​The highest-selling master-planned community in 2019 was The Villages, developed by a company of the same name in The Villages, Fla., with 2,134 sales.
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Howard Hughes finishes 2019 with $565M office buy

​​​​HOUSTON (Houston Business Journal) – The Howard Hughes Corp. has closed out the year with a $565 million buy from locally based Occidental Petroleum Corp.

The deal includes:
  • the 1.4 million-sf, Class A The Woodlands Towers at the Waterway office pair;
  • ConocoPhilip's former 17-building, 1.3 million-sf headquarters campus on 63 acres in the Energy Corridor; and
  • a 125,000-sf warehouse and 9.3 acres of developable land in The Woodland Town Center.
The office towers at 1201 Lake Robbins Dr. and 9950 Woodloch Forest Dr.—previously called Anadarko Allison and Anadarko Hacket Towers—are 808,000 and 595,000 sf, respectively. They were renamed after Occidental acquired Anadarko in August. 

Occidental will fully lease back the larger of The Woodlands towers and the nearby warehouse for 13 years. 

Howard Hughes will move its headquarters into the smaller tower.

The Class A Energy Corridor complex is currently vacant.

CBRE listed the properties on behalf of Occidental.
Looking for more real estate news? Our NewsTalk Texas feed has all the latest headlines. Here's a sample:

Cordish Cos. to build $810M second phase of Texas Live!

ARLINGTON (Dallas Business Journal) – The Cordish Cos., in partnershp with the city, the Texas Rangers, and Loews Corp. is developing the second phase of Texas Live! 

The city has approved a TIRZ package for the $810 million phase, which will include:
  • 200,000 sf of office space;
  • an 888-room hotel with 150,000 sf of meeting space; 
  • 100,000 sf of retail and restaurant space; 
  • 280 apartments;
  • 2,000 parking spaces; and 
  • business incubator space.
Called the Loews Arlington Hotel, the hotel ​will be connected to the new Arlington Convention Center. Work will start this month and wrap up by 2023. 

The entire second phase is expected to create 3,000 jobs and have a $1.8 billion economic impact.​
The Appraisal Institute North Texas Chapter is hosting its 11th Annual North Texas Realty Conference on Friday, Jan. 17, 2020, at the Four Seasons Resort and Club Dallas at Las Colinas in Irving. The one-day conference will provide economic and real estate industry information and 2020 projections about the regional and national economies.  The conference costs $275. It can provide 40 points of Appraisal Institute continuing education credit and eight hours for the Texas Appraiser Licensing and Certification Board. 

IDV purchases 214 acres off Beltway 8 

HOUSTON (Connect Media) – Investment & Development Ventures LLC (IDV) has purchased 214 acres at Beltway 8 and Martin Luther King Blvd. from the Texas General Land Office.

The buyer plans to build an industrial park on the land, which fronts the Sam Houston Tollway. Groundbreaking is set for later this month.

The seller acted on behalf of the Texas Permanent School Fund, which owned the land ​since 2004.
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. 

738K-sf Inwood Trade Center purchased for refresh

DALLAS (REBusiness Online) – Hines has acquired Inwood Trade Center, a 738,198-sf infill business park at 1110 Inwood Rd. in the North Trinity submarket.

The 14 buildings were constructed on 38 acres between 1961 and 1978 and were 98 percent leased at the time of sale. 

Hines will implement a value-add program to refresh the buildings' facades, signage, and landscaping.

Omniplan is designing the repositioning, and Holt Lunsford Commercial will handle leasing.

Mohr Capital picks up 405K-sf office, industrial portfolio

AUSTIN (Austin Business Journal) – Dallas-based Mohr Capital LLC has purchased a 404,800-sf office and industrial portfolio at MetCenter business park for $100 million. 

The portfolio on Metropolis Dr.​ includes a 160,000-sf industrial building and a four-building, 244,800-sf office facility. 

The industrial building is leased to Amazon and Uber. The office facility’s tenants include the state of Texas, Ascension Seton, Arrive Logistics, Kapsch TrafficCom, and Austin Java.

JLL represented the seller, Zydeco Development.
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Avera adds 644K sf to Cedar Port Industrial Park 

BAYTOWN (Realty News Report) – Avera is building Cedar Port Logistics, a 644,000-sf industrial project on the Grand Parkway near I-10.

Situated on 40.8 acres within Cedar Port Industrial Park, the ​buildng will be expandable to 760,400 sf of cross dock industrial space. There are also rail service options.

Completion is scheduled for second quarter 2020. 

NAI Partners is handling leasing.

Corpus Christi multifamily community trades hands

CORPUS CHRISTI (REBusiness Online) – Tradewinds Properties has purchased Camden South Bay, a 270-unit apartment community at 1701 Ennis Joslin Rd.​​​

Built in 2007, the property has one- to three-bedroom floor plans ranging from 642 to 1,500 sf. 

Amenities include a 24-hour fitness center with a children’s play area, gaming lounge with outdoor kitchen, business center, sand volleyball court, and dog park.

Berkadia represented the seller, Fund South Bay, and arranged acquisition financing through Freddie Mac on behalf of the buyer.
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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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