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RECON for July 30, 2021RECON for July 30, 20212021-07-30T05:00:00Z2021-07-30T05:00:00Z
McKinney Corporate Center I was built by VanTrust Real Estate.
What's happening around the state? Women's and children's facility in Texas Medical Center expanding, McKinney office building sold, eight San Antonio acres to become mixed-use project, and more. Today's RECON has all the details. (Photo of McKinney Corporate Center I from VanTrust Real Estate.)
July 30, 2021

Texas Children’s Pavilion for Women adding $201M expansion

HOUSTON (Houston Business Journal) – Texas Children's Hospital is working on a $201 million expansion project at the Texas Children's Pa​vilion for Women in the Texas Medical Center.

The former Baylor Clinic building will be renamed Main Tower and connect to the Pavilion for Women with a new skybridge. It will also add 190,000 sf to the obstetrics and gynecology facility.

The first phase of the project will be complete by spring 2022. Full completion is slated for 2024.​​
Congratulations to Gordon A. of Austin, the winner of the $50 Amazon gift card in our Nifty Fifty Scavenger Hunt giveaway. If you missed out on the giveaway, don't worry: there are more chances to win. Get all three questions on our quiz correct to enter. This week's giveaway closes on Thursday, August 5. Enter here.

Stassney Heights retail center sold

AUSTIN (Connect Media) – Newport Capital Partners has acquired Stassney Heights on behalf of its Newport Capital Partners Fund III. 

The 103,030-sf shopping ce​nter is on the southwest corner of Stassney Ln. and I-35. It is currently 93 percent leased and anchored by Houston-based supermarket Fiesta Mart. 

The property was marketed by CBRE.​​ Financing was provided by Wintrust Bank and arranged through Newmark.
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Medline Industries Inc. opens Katy distribution center

KATY (Houston Business Journal) – Illinois-based Medline Industries Inc. is opening a 1.3 million-sf distribution center.

The facility, located at 29895 U.S. 90 near Brookline Rd., will​​ bring 100 jobs to the area.

The LEED-certified facility has 37-ft clear height, five drive-in bays, and 204 exterior dock doors.

The location will be Medline's fourth in Texas; the others are in Dallas, Laredo, and Wilmer.​
Looking for more real estate news? Our NewsTalk Texas feed has all the latest headlines. Here's a sample:

Vacant land to become mixed-use project

​​SAN ANTONIO (Connect Media) – Eight acres of vacant land will be home to a mixed-use project. 

Essex Modern City LLC will develop 80,000 sf of retail space, 80,000 sf of office space, and 800 residential units. There will also be parking and an open park.

Kennedy Funding secured a $3.46 million land loan for the seven parcels.

Taylor Morrison takes 500 home sites in Frisco’s Fields community

FRISCO (Dallas Morning News) – Taylor Morrison Homes has purchased sites for 500 single-family homes in the 2,500-acre Fields development on the Dallas North Tollway.

The homes will be in the Brookside neighborhood on the north side of Panther Creek Pkwy., east of Legacy Dr.

The sellers were Hunt Realty Investments and Karahan Cos.

Construction starts this fall.
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. 

Arch-Con Corp. starts on Rainey Street District hotel

AUSTIN (Realty News Report) – Houston-based general contractor Arch-Con Corp. is constructing a 17-story Fairfield Inn & Suites in the Rainey Street District near downtown.

The 152,000-sf hotel w​ill be at 76 East Ave. There will be a six-level, 57,930-sf concrete parking garage.

The 126-room Fairfield Inn & Suites is being developed by RGB Hospitality and designed by MCS Architects.

120K-sf Craig Ranch office building sold 

McKINNEY (Dallas Morning News) – The McKinney Corporate Center I building on Weiskopf Ave. has sold to Orangestar Property Advisors.

Built in 2013, the 120,000-sf building is leased to tenants including Cotiviti Healthcare.

The seller was VanTrust Real Estate.

Veritex Community Bank financed the acquisition with a $19.2 million loan.
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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 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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