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RECON for January 7, 2020RECON for January 7, 2020Bryan PopePope
2020-01-07T06:00:00Z2020-01-07T06:00:00Z

RECON Real Estate Center
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Kelly Goodpasture with R.R. Donnelley Houston shows Real Estate Center Managing Editor Bryan Pope how the next issue of TG magazine is coming along.  The January 2020 edition of our flagship publication is set to hit mailboxes soon. (Photo by Center Creative Director Bob Beals.)
January 7, 2020

Sealy buys 1.6M-sf DFW industrial portfolio

​​​​​​​​DALLAS (Connect Media) – Sealy & Co. has purchased 1.6 million sf of infill industrial space from Rialto Capital Management and Wafra Inc.

The 97 percent-occupied portfolio includes:
  • 10990 Petal St., Perimeter Distribution Center, Jupiter West A&B, and Forest Lane in Northeast Dallas;
  • 2215 Valley View in Northwest Dallas;
  • 2727 Airport in the South Stemmons submarket;
  • Riverside Business Center in Arlington; and 
  • Executive​ Center I-7 and 3700 Eagle Place in South Dallas. 
CBRE represented the seller.​​
Helping Texans make the best real estate decisions since 1971

In memorium: father of Real Estate Center Julio Laguarta 

​​​COLLEGE STATION (Real Estate Center) – "A marriage made in heaven." That's what Julio Laguarta called the partnership between Texas Realtors and Texas A&M University when the Real Estate Center was created nearly 50 years ago.

Laguarta, former National Association of Realtors and Texas Realtors president, died Jan. 3.

"Julio was the father of the Center," said Executive Director Gary Maler. "Creating an organization to conduct real estate research for Texas was his idea. Although he was a Longhorn, he was ecstatic when Texas A&M agreed to house the Center he envisioned."

Appointed to a six-year term on the Center's first advisory committee, Laguarta was elected its first chairman.

Read more about Laguarta's role in creating what was known at the time as the Texas Real Estate Research Center.
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. 

American Furniture Warehouse buys Conroe land for mega store

​​CONROE (REBusiness Online) – American Furniture Warehouse has purchased 30 acres at I-45 and River Plantation Dr. ​for a new 443,375-sf mega store.

The store will include 150,000 sf of showroom space and 293,375 sf of warehouse/merchandise storage space. 

It will be the company's third store in the Houston area.

Baker Katz represented the buyer. Caldwell Cos. represented the seller, Gross Land Fund I LP.​​
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. 

Arizona builder starts on new Lake Lewisville community

​OAK POINT (Dallas Morning News) – ​​​Scottsdale, Ariz.-based Taylor Morrison has broken ground on South Oak, a 236-home community on Lake Lewisville near US 380 in Denton County. 

Homes will range from 1,700 to 2,900 sf. Prices will start in the $200,000s. 

The waterfront community will include a private clubhouse with a fitness center, swimming pool, walking trails, and fishing area.​

It will open for sales in the first quarter.
Monthly Review of the Texas Economy
For more, read our latest Monthly Review of the Texas Economy report.

Historic downtown hospital sold to hotel operator

SAN ANTONIO (San Antonio Express-News) – The downtown building that housed the Nix Medical Center for nearly 90 years​ has been sold to InnJoy San Antonio LLC. 

Built in 1930, the ​310,000-sf, 24-floor high-rise is on a third of an acre at 414 Navarro St. 

The buyer, who is linked to a Rio Grande Valley-based hotel operator, took out a $19 million loan from Green Rock Property.

The seller, Los Angeles-based Prospect Medical Holdings, purchased the Nix Health system in 2012. 
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Work begins on 701 Rio in downtown Austin

​​​​AUSTIN (REBusiness Online) – Barings and B&Z Development LLC will break ground this week on 701 Rio, a 120,983-sf downtown office building.

The five-story building will be in the Original Austin neighborhood at Rio Grande and 7th Streets.

BGK is the architect, and Colorado-based Hensel Phelps is the general contractor. 

JLL is handling leasing.​​​
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.

LA investor buys four-building Carrollton industrial portfolio

​​​CARROLLTON (Dallas Business Journal) – Los Angeles-based Cohen Asset Management Inc. has purchased a four-building, 353,3000-sf industrial​ portfolio within the 26 million-sf Valwood Industrial Park.​​

The seller, Temecula, Calif.-based The Garrett Group, had owned the properties since 2015.

The properties were last assessed together for $22.3 million.

Cawley Partners picks up Plano office

​​PLANO (REBusiness Online) – Dallas-based Cawley Partners has purchased 5501 Headquarters, a three-story, 169,179-sf office building in the Legacy submarket.

The office serves as the corporate headquarters of the building's seller, Rent-A-Center. The company will continue to occupy about 60 percent of the building. 

Cawley plans to modernize the 2007-era facility. ​​
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Copyright © 2020, All rights reserved.
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.
https://www.recenter.tamu.edu/news/recon/?Item=338

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