RECON for June 21, 2022RECON for June 21, 20222022-06-21T05:00:00Z2022-06-21T05:00:00Z
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RECON Texas Real Estate Research Center
LIKE-KIND EXCHANGES are some of the most tax-favored transactions, but many technical requirements must be met for the exchange to work. Success hinges on good advisors and following the rules. To learn more, read 'Trading Spaces: Common Mistakes in a Like-Kind Exchange' by Dallas attorney William D. Elliott. (Photo from Center files.)
June 21, 2022

Cowabunga! Megatel breaks ground on Houston lagoon community

HOUSTON (PR Newswire) – Megatel has broken ground on Saint Tropez, a $2 billion lagoon community that will span over 1,000 acres and include 4,500 single-family lots and multifamily units.

Single-family homes will range from $350,000 to $700,000 and have between 1,500 and 4,000 sf. One-, two-, and three-bedroom units will also be offered with monthly rents starting at $1,200.

Features will include a man-made lagoon with activities such as paddleboarding and kayaking available, a FlowRider simulator, playground, cabanas, adult lounge, bowling alley, and a restaurant.

Additional amenities available to residents include event spaces, a home design center, and a fitness and yoga studio.

Phase one is slated for completion by first quarter 2023.

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Boston buyer picks up second Mockingbird office property

DALLAS (Dallas Morning News) – Albany Road Real Estate Partners of Boston has purchased the almost 160,000-sf office building at 1420 W. Mockingbird, near Love Field.

Built in 1984, the eight-story tower houses tenants such as Wells Fargo, Datum Engineers, Dikita Enterprises, and Priority Contracting.

This marks the second Mockingbird Lane office property Albany has purchased this year. The first was at 1250 W. Mockingbird. 

Irving-based real estate investor TXRE Properties was the seller in both transactions.

Venture 'X-pansion' continues in San Antonio

SAN ANTONIO (San Antonio Business Journal) – Florida-based Venture X is launching its third co-working space in San Antonio.

The company will occupy 35,000 sf on the eighth and 14th floors of the San Antonio Northwest Center at 7550 IH-10 W.

The location comprises shared desks and private offices accommodating 300 members.

Members will have access to a gym, café, restaurant, conference and training rooms, and reserved onsite covered parking.

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. 

3,000 acres purchased for master-planned project in Caldwell County

AUSTIN (Connect CRE) – RREAF Communities has acquired 3,173 acres for a master-planned development. The site is at the intersection of SH 130 and SH 80 in Caldwell County. 

Plans include thousands of residential homes, retail, restaurants, hotels, offices, healthcare, and light industrial. 

RREAF will offer single family lots with build-to-rent, townhome, and apartment properties. 

Amenities include hiking trails, event pavilions, athletic fields, and fitness centers.

Fortress Land Investments was the seller.

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Cubework opens two warehouses totaling 302k sf

HOUSTON-SUGAR LAND (REBUSINESS) – Cubework has opened two warehouses totaling 302,000 sf.

The first property, at 3401 Navigation Blvd. in Houston, has 32-foot clear heights.

The second property, in Sugar Land, has 3,030 sf of office space and 32-foot clear heights.

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.

OHT breaks ground on 750-unit multifamily

AUSTIN (Compass Communications) – OHT has begun phase-one construction on a 37-acre site that will house two multifamily communities totaling 750 units. The site is at 10801 Wayne Riddell Loop in south Austin. 

The first community, Lenox Woods, will comprise 402 one- and two-bedroom units. It will have two resort-style pools, pickleball courts, shared work studio, fitness center, electric vehicle charging stations, and a dog park. 

Construction wraps late next year. 

Construction begins soon on a second community comprising 348 units. It will open in 2024.

Harvest Equities sells two northwest SA apartment complexes

SAN ANTONIO (REBUSINESS) – The Multifamily Group has brokered the sale of Limestone Oaks and Townhomes at Limestone Oaks in northwest San Antonio.

Built in 1981 and 1984, the two properties house a total of 400 units. 

The sale includes 6.5 acres that connect the adjacent properties. 

Harvest Equities was the seller.

Houston Food Bank gets 53-acre donation

HOUSTON (Houston Business Journal) – Chevron Corp. has gifted a 53-acre parcel to the Houston Food Bank for the construction of a new warehouse and distribution center.

The new distribution facilities, located at Ella Blvd. and SH 29, will allow the organization to provide additional food across southeast Texas in addition to the city.

The facilities are expected to open in 2025.

At the time of the donation, the property was valued at about $10 million. 

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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 Wiley. The Texas Real Estate Research Center is part of the Division of Academic and Strategic Collaborations at Texas A&M University in College Station - the heart of the Research Valley.

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