RECON for March 16, 2021RECON for March 16, 20212021-03-16T05:00:00Z2021-03-16T05:00:00Z
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Property taxes pay for government services, but they can discourage good jobs that come with investment. Are tax incentive programs like Chapter 313 a good response? Read "Take It to the Limit: Benefits and Costs of Chapter 313 Tax Limitations," for more. (Photo from Center files.)
March 16, 2021

Unemployment claims retake downward trend

​​​COLLEGE STATION (Texas Real Estate Research Center) – As projected, initial jobless claims in Texas decreased to 45,700 the week en​ding March 6, retaking the downward trend observed before the winter storm froze the economy to a stop.

​About 4.55 million unemployment claims have been filed since​ March 21, 2020, according to data from the U.S. Department​ of Labor (DOL). 

Continuing unemployment claims increased to​ 325,300 the week ending Feb. 27.

"Increasing vaccination rates should lead to a faster recovery in the highly punished leisure and hospitality sector, possibly creating a wave of hiring that would allow thousands of laid-off workers to find jobs," said Texas Real Estate Research Center Research Economist Dr. Luis Torres.

The number of workers receiving benefits through the pandemic unemployment assistance program, which is open to gig workers and others who don’t typically receive benefits, fell the week ending March 6.​

​Last week, U.S. initial claims decreased to 712,300, bringing the 51-week total to 81.1 million. 

More people in all of Texas' major and border metros filed new unemployment claims the week ending Feb. 27 due to the effects of the winter storm.

Using data from the DOL and the Employment ​and Training Administration, the Center has estimate​d unemployment claims for Texas' major and border metros since March 21:
  • Houston-The Woodlands-Sugar Land, 1.05 million claims;
  • ​​Dallas-Fort Worth-Arlington, one million claims;
  • San Antonio-New Braunfels, 309,000 claims;
  • Austin-Round Rock, 259,100 claims;
  • McAllen-Edinburg-Mission, 126,800​ claims;
  • El Paso, 108,500 claims;
  • Brownsville-Harlingen, 55,800 claims; and
  • ​​Laredo, 31,600​ claims.​​
​Healthcare and social assistance registered the highest number of initial claims the week ending Feb. 27. That sector was followed by manufacturing, administrative/support/waste management/remediation services, construction, retail trade, ​and ​accommodation and food services.
Save the date for our 30th Annual Outlook for Texas Land Markets conference. This year's event will be held virtually on April 21-23. Registration will be opening soon. Thank you for your patience as we are working out all the details. 

281K-sf industrial portfolio trades hands

​​​SAN ANTONIO (San Antonio Business Journal) – Exeter Property Group LLC has purchased two office and warehouse​ buildings at 1727 Cornerway Blvd. 

The larger building, completed in fourth quarter 2020, spans 207,492 sf. The smaller building, which delivered this year, spans 73,161 sf. 

Cantera Real Estate Group represented Exeter. Ty Bragg represented the seller, an affiliate Soto-Fis Investments LLC.
Read the latest Texas Quarterly Apartment Report for more. 

Texas employment grows for ninth straight month

AUSTIN (Texas Workforce Commission) – Texas added 30,800 nonagricultural jobs in January, marking nine consecutive months of job growth, according to the Texas Workforce Commission. 

This pushed the state's unemployment rate from 6.9 percent in December to 6.8 percent in January.

The national unemployment rate was 6.5 percent.

Amarillo had the lowest nonse​asonally adjusted unemployment rate in the state​ at 4.9 percent. McAllen-Edinburg-Mission had the highest at 11.9 percent. 

All employment sectors had seasonally adjusted job losses since January 2020. Financial activities saw the smallest drop, falling 0.1 percent. Mining and logging had the largest job loss with employment falling 24.1​ percent.
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. 

117K-sf H-E-B slated for Wolf Lakes Village

​​​​GEORGETOWN (Community Impact Newspaper) – H-E-B is replacing its current store at 1100 S. I-35 with a new 117,000-sf store. 

The store will be on University Ave. between I-35 and Wolf Lakes Dr. in the 164-acre Wolf Lakes Village master-planned community.  

The store will include a barbecue restaurant with ground-level and balcony-level seating, curbside pick-up, and pharmacy. 
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622K-sf industrial development on the way in Forney

​​FORNEY (Dallas Morning News) – VanTrust Real Estate LLC is building a 621,874-sf speculative industrial building at US 80 and S. Gateway Blvd.

CBRE is leasing the building, which will break ground in April 2021 and open in May 2022.
Communication Matters video seriesThe Texas Real Estate Research 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.

VIA Metropolitan Transit driving into Northwest SA

​​​SAN ANTONIO (San Antonio Business Journal) – VIA Metropolitan Transit developing a new headquarters for its VIAtrans paratransit system along Fredericksburg Rd. near Loop 410 and I-10. 

The 100,000-sf structure will cost $24 million and enable the agency to bring its VIAtrans business under one roof.

Construction will begin before spring and be complete this year.
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Manpro Capital picks up 231K-sf industrial campus 

​​​CEDAR PARK (Austin Business Journal) – Manpro Capital has acquired Brushy Creek Corporate Center, a 231,030-sf industrial campus at 1200 BMC Dr. 

The two-building property is more than 70 percent leased. 

Aquila Commercial is handling leasing.
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Copyright © 2021, 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 Texas Real Estate Research 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 Texas Real Estate Research 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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