{{titleBar.title}}

{{titleBar.tagline}}

 

 

RECON for April 30, 2021RECON for April 30, 20212021-04-30T05:00:00Z2021-04-30T05:00:00Z
What's happening in today's RECON? Six-property DFW multifamily portfolio sold, work starts on Houston cold-storage project, TREC confirms three new members, and more. Keep scrolling for the details. (Rendering of Houston ColdPort from Boomerang Interests LLC.)
April 30, 2021

TREC confirms three new members

​​​AUSTIN (Texas Real Estate Commission) – The Texas Real Estate Commission (TREC) has confirmed broker members Leslie Lerner and Mark Woodroof and public member Ben Peña as new commissioners for terms to expire Jan. 31, 2027. 

The commissioners were nominated in March and confirmed by Senate vote April 28.  

Lerner is broker-owner of Leslie Lerner Properties LLC in Houston. She is a member of the Texas Realtors and the Houston Association of Realtors​ (HAR). She currently serves as chair of the TREC Broker Responsibility Working Group. 

Woodroof is a managing partner of Better Homes and Gardens Real Estate Gary Greene in Houston. He served as 1999 chairman of HAR and held leadership roles with the Texas Realtors and the National Association of Realtors. 

Peña of Brownsville recently completed his six-year term at the Texas State Board of Public Accountancy, where he served as a member of the executive committee and chair of the Behavioral Enforcement and Peer Review committees.  

The newly appointed Commission members’ first meeting will be Monday, May 3, at 10 a.m. in Austin
Read our latest Texas Employment Report for more. Subscribe to email notifications.

New York firm acquires six-property DFW multifamily portfolio

DALLAS-FORT WORTH (REBusiness Online) – Manhattan Five Partners has acquired a six-property multifamily portfolio totaling 2,167 units. 

The properties, all built between 1970 and 1985, include:
  • The Hangar, a 268-unit asset at 201 S. Clark Rd. in Cedar Hill; 
  • The Annex, a 267-unit complex at 4709 Samuell Blvd. in Mesquite; 
  • Forty200, a 512-unit community at 4200 US 80 Frontage Rd. in Mesquite; 
  • Residence on Lamar, a 482-unit property at 1224 E. Lamar Blvd. in Arlington; 
  • Amp at the Grid, a 446-unit community at 765 Polk Dr. in Arlington; and 
  • Current at the Grid, a 192-unit complex at 724 Polk Dr. in Arlington. 
NorthMarq represented the seller, S2 Capital Partners.
The Texas Weekly Leading Index increased for a fourth straight week, recording a big jump the week ending April 17. The recovery's pace continues to be hindered by the incomplete reopening of the economy and future uncertainty regarding the pandemic. The increase was mainly due to a decrease in the number of people filing for unemployment insurance and an increase in the number of new business applications. The elevated number of new business applications is signaling strong business activity. Read our latest report for the full story.

Work starts on Houston cold-storage

​​​​​HOUSTON (Houston Business Journal) – Work has started on Houston ColdPort, a 315,101-sf cold-storage warehouse on 22.48 acres at 7600 Uvalde Rd. 

The facility will have a 50-ft clear height warehouse, a 60-ft-deep cold dock, 38 dock positio​ns, LED lighting, dry fire sprinkler system, 200-ft-deep truck court with 57 trailer parking spaces, and automobile parking. 

Completion is slated for second quarter 2022.

The project is a joint venture between locally based Boomerang Interests and Philadelphia-based CenterSquare Investment Management. 

ARCO Design/Build is designing and building Houston ColdPort. Colliers will handle leasing. JLL arranged financing.
Looking for more real estate news? Our NewsTalk Texas feed has all the latest headlines. Here's a sample:

645,000-sf industrial building delivers along I-35

​​FORT WORTH (Connect Media) – M2G Ventures has completed North Quarter 35, a 645,000-sf, Class A industrial development.

The site is at the intersection ​of North Fwy. and Golden Triangle Blvd. along I-35 in the TexasAlliance Mobility Innovation Zone. 

GSR Andrade was the architect and FCL Builders was the general contractor.
Helping Texans make the best real estate decisions since 1971

Southside Place multifamily sold

​​​SOUTHSIDE PLACE (Realty News Report) – Lubbock-based​ Madera Residential has acquired the 270-unit Alexan Southside apartments at 4139 Bellaire Blvd.

Built in 2017, the four-story p​​roperty consists of 190 one-bedroom and 80 two-bedroom units averaging ​752 and 1,241 sf, respectively.

The building wraps around a five-story parking deck with 445 parking spaces.

PCCP LLC provided a $30 million senior loan to the buyer.
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 Texas Real Estate Research Center, and all MLSs across the state. 

XPEL inks industrial lease at PanAm West

​​​​SAN ANTONIO (San Antonio Business Journal) – XPEL Inc. has signed a 115,825-sf industrial lease at PanAm West Industrial Park at 3215 N. PanAm Expy. 

The industrial complex is no​w 91 percent leased, with one 40,000-sf vacancy remaining. 

Houston office building near Bush Airport sold

​​​​​HOUSTON (Realty News Report) – Locally based David Z. Mafrige Interests has purchased World Houston Pl​aza, an eight-story building near Bush Airport.

The 216,889-sf office building at 15710 John F. Kennedy Blvd. was built in 1985. 

It was​​ purchased at a Ten-X auction.

Colliers International represented the seller.
Subscribe to RECON if you haven't already. Click here to go to our website.
If not, click here to head to our website, where you can fill out this simple form for free. Once you do, the biggest headlines in Texas real estate will come straight to your inbox twice a week. Oh, and did we mention it's free?
Twitter
Facebook
LinkedIn
Instagram
YouTube
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.

https://www.recenter.tamu.edu/news/recon/?Item=465

 Search RECON Issues