RECON for June 16, 2020RECON for June 16, 20202020-06-16T05:00:00Z2020-06-16T05:00:00Z
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June 16, 2020

Prairie Ridge bringing 4,600 homes to Midlothian

​MIDLOTHIAN (Dallas Morning News) – Provident Realty Advisors has finished the first 200 home sites in a new 4,600-home residential community.

Called Prairie Ridge, the 1,500-acre community is being built off US 287.

Sites have been sold to Grand Homes and M/I Homes for next-phase homes.

The community will have multiple amenity centers with swimming pools, walking trails, and fishing ponds. Sites have also been set aside for new schools.

Prices will start at $250,000.
Texas Weekly Leading IndicatorAfter flattening the last two weeks of May, the Texas weekly leading index increased in first week of June, signaling economic improvements going forward and possibly a rebound from the economic shutdown imposed due to the COVID-19 pandemic. Read the latest report and subscribe for updates.

Hines, 2ML developing TMC mixed-use project

​​HOUSTON (Houston Business Journal) – Locally based Hines and 2ML Real Estate Interests, formerly known as The Grocers Supply Co., are developing a mixed-use project near the Texas Medical Center.

Called Levit Green, ​​​the 52-acre project will include research facilities, office​​, residential, shopping, dining, and outdoor amenities and green space. 

The project is near the interchange of SH 288 and Holcomb​e Blvd./Old Spanish Trail.
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MAG acquires 140K-sf Haltom City industrial portfolio

​​​HALTOM CITY (REBusiness Online) – MAG Capital Partners LLC has acquired 139,150 sf of industrial space at 5998 Eden Dr. from San Francisco-based P4G Capital. 

The eight-building portfolio, is leased to Fore Aero. 

P4G acquired Fore Aero and the real estate in 2017. 

Barnes & Thornburg represented MAG Capital Partners in the transaction. SAB Capital represented the seller. ​​
texas quarterly commercial report
The commercial sector started 2020 strong until the COVID-19 pandemic hit in the last weeks of March. The shutdown caused a significant decrease in economic activity while reflecting a steep decline in hiring and a related surge in unemployment. While 1Q2020 data show some initial impacts, the effects will be more apparent in 2Q2020. Read the full Texas Quarterly Commercial Report. Click here to subscribe to email updates.

Fulshear acreage rezoned for mixed-use

​​FULSHEAR (GGG Sustainability Solutions) – ​The city has unanimously approved the rezoning of 125 acres from rural-residential to downtown-district zoning. ​​

The tract is on the west side of town between Wallis St. and FM 1093. 

Positive Developments LLC and Grandes Rico are developing the mixed-use project. ​
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. 

Blue Road breaks ground on 315K-sf spec industrial building 

​EL PASO (CBRE) – Blue Road Investments has broken ground on Westpark Building 1, a 315,000-sf industrial building at 655 Industrial Ave. 

The building will be the first speculative building in Westpark Phase I.

Delivery is set for January 2021.
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11.8K acres sold near Houston

​​​LUFKIN (American Forest Management Inc.) – American Forest Management Inc. (AFM) arranged the sale of Lusk Timberlands in Montgomery and San Jacinto Counties. 

The new owner will continue timber production on the 11,774-acre site. 

AFM represented the seller.
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.

Bandera Ventures planning 950K-sf business park

​​​FORT WORTH (Dallas Morning News) – Bandera Ventures has filed plans for a two-building industrial project on Everman Pkwy. near I-35W.

The $32 million project will include 950,000 sf of industrial space. 

Work will begin this summer and wrap up sometime next year. 

A&R leases 133K sf in Baytown

​​BAYTOWN ​​(Colliers International) – A&R Logistics has leased 133,333 sf of industrial space at 703 Logistics Dr. S.

The tilt-wall distribution warehouse is at the over 1,000-acre AmeriPort Industrial Park.

Colliers International represented​​ both the tenant and the landlord, National Property Holdings. 
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