RECON for November 19, 2021RECON for November 19, 20212021-11-19T06:00:00Z2021-11-19T06:00:00Z
Texas A&M downtown Fort Worth campus
What's happening in today's RECON? Pflugerville getting 1,050-unit townhome and apartment community, Texas A&M planning Fort Worth law and research hub, Baptist Health developing hospital campus in Boerne, and more. Keep reading for the details. (Rendering from the Texas A&M University System.)
November 19, 2021

A&M research campus says 'howdy!' to Fort Worth

FORT WORTH (Texas A&M University System) – City leaders and Texas A&M University System officials are working on a downtown research hub for business development. 

The Texas A&M System Research and Innovation Center will be built alongside a new Education Alliance Building, which will host conferences and house professional, technical, and university courses offered by the Texas A&M School of Law, Tarleton State University, Texas A&M University, the Texas A&M Health Science Center, and other alliance members.

These buildings will be the nucleus of a urban campus anchored by a new law school at 1515 Commerce St. The current law school is in the former Southwestern Bell call switching facility that was converted for office use. The school also uses leased space in a nearby building. 

The System owns four blocks in the area, and the city has nearby property that could become available. 

Six notable local employers—Alcon, AT&T, Bell, Elbit Systems of America, Lockheed Martin, and Philips—are interested in collaborating in particular research areas. 

The Texas Division of Emergency Management, the Texas A&M Engineering Experiment Station, the Texas A&M Engineering Extension Service, Texas A&M AgriLife Research, and the Texas A&M Transportation Institute are the System agencies involved in the project.
Yellow background woman holding money and toy houseIn 2020, 24 percent of Millennial homeowners received down-payment assistance from a parent or relative when purchasing a home. Why are an increasing number of borrowers getting help with their down payment? TRERC's Dr. Clare Losey explains in our latest blog post.

Lifestyle Communities bringing 1,050-unit townhome community to Pflugerville

PFLUGERVILLE (Austin Business Journal) – Lifestyle Communities Ltd. is building a 1,050-unit townhome and apartment community at 18612 Pfluger Farm Lane. 

The community will includ​e a 15,000-sf amenity center, which will include a two-story restaurant called The Goat. The community will also include a wellness center, pool, volleyball court, outdoor bar, and coworking space. 

Developers will complete the 409-unit first phase in late 2024. 

LRK Inc. and OZ Architecture are the architects. 
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Baptist Health developing $50M hospital campus

BOERNE (San Antonio Business Journal) – Baptist Health System is developing a $50 million hospital campus on 23 acres near I-10 and SH 46. 

The campus will include an acute-care hospital and medical office building. ​

The hospital will have outpatient services, imaging, and other diagnostic services. The medical office building will provide space for physician practices and other ancillary healthcare services. 

Construction will be complete by late 2023 or early 2024. 
Stubborn Slow-down
Housing affordability has been an issue for years but has worsened as demand remains elevated and supply stays constrained. When will Texas' home-price boom ease? Center Lead Data Analyst Joshua Roberson shares his insights on the latest Red Zone Podcast.

TA Realty buys five-property portfolio from Holt Lunsford Commercial

DALLAS (REBusiness Online) – Holt Lunsford Commercial Investments has sold a portfolio of five shallow-bay industrial properties totaling 700,000 sf to TA Realty. 

Two properties—Valwood Trad​e Center and Golden Bear Distribution Center—are in Carrollton.

McKinney Logistics Center, Richardson Logistics Center, and Edmonds Airport Trade Center are in Lewisville. 

HLCI developed all of the assets between late 2020 and summer 2021.​
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Avera, AEW to develop 522K-sf Baytown industrial project

​​​BAYTOWN (REBusiness Online) – Locally based Avera Cos. and AEW Capital Management are developing Kilgore Grand Parkway, a 522,135-sf industrial project on​ 33.9 acres near Port Houston.

The project will include 40-ft clear heights, 185-ft ​truck court depths, an ESFR sprinkler system, and build-to-suit office space. 

Cushman & Wakefield is the leasing agent for the project, which will be complete in fourth quarter 2022.
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Boston firm buys 366K-sf Dallas office campus

​​​DALLAS (REBusiness Online) – Albany Road Real Estate Partners has acquired The Plaza at Solana, a 366,000-sf office campus off SH 114.

The three-building property was recently renovated and includes 21,000 sf of retail and restaurant space. 

A fund sponsored by CBRE Investm​ent Management provided a $66.3 million acquisition loan.

JLL arranged the debt on behalf of the borrower.

Majestic Realty adding four buildings to Brook campus

​​​​SAN ANTONIO (San Antonio Business Journal) – Majestic Realty Co. is developing four buildings totaling 938,281 sf at the Brooks campus. 

Construction on the $64 million project will start January 2022 and be complete a year late​r.
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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 Wiley. 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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