RECON for August 2, 2022RECON for August 2, 20222022-08-02T05:00:00Z2022-08-02T05:00:00Z
RECON Texas Real Estate Research Center
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In the second quarter, Texas' median and first-quartile sales prices increased 16.4 and 13.6 percent year over year, respectively. Meanwhile, following years of generally sluggish growth, family income increased considerably, growing 13.6 percent from 2021 to 2022. However, as long as the rise in home prices continues to outpace the increase in income, purchase affordability, or the ability of a household to buy a home, will continue to diminish. Read more in our latest Texas Housing Affordability Outlook(Photo from Center files.)
August 2, 2022

Partnership acquires 10497 Town and Country Way

​​​​​HOUSTON (Houston Business Journal) – Lee & Associates and 35 South Capital have purchased 10497 Town and Country Way, a nine-story, 150,000-sf building.

Lee & Associates plans to move into a full floor of about 17,000 sf next year. 35 South Capital will occupy 3,000 sf in the building later this year.

The building is already about 85 percent leased and will be almost fully occupied once the partnership moves in.

The seller, Equus Capital Partners, was represented by JLL. JLL's debt advisory team helped secure the acquisition loan from Independent Bank on behalf of the buyers. 
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Stonelake Capital purchases 90 acres for 1.3M-sf logistics park

​​​​EL PASO (Connect CRE) – Stonelake Capital Partners has acquired 90 acres at the corner of Montana Ave. and Joe Battle Blvd. for the development of a 1.3 million-sf business ​park.

The 375 Logistics Park will comprise four to six buildings and has been appraised at $30.8 million.

River Oak Properties was the seller. Construction begins in the first quarter of next year and wraps at the end of 2023.​​
Texas Quarterly Commercial ReportEconomic activity within the Lone Star State improved during the first quarter. Texas nonfarm employment added 166,300 jobs during that time, although joblessness was still higher than the national average. Total nonfarm employment in Texas has now continued well past the pre-COVID peak of just under 13 million jobs to just over 13.2 million jobs. Read our latest Texas Quarterly Commercial Report for an analysis on the Austin, DFW, Houston, and San Antonio commercial markets.

The Luminary swaps hands

​​​​​DALLAS (REBusiness Online) – Harwood International has acquired The Luminary, a 169,000-sf office building.

Built in 2019 by Crescent Real Estate, the project is within the Victory Park mixed-use development at 401 N. Houston St.

Corgan, which designed the building, is the main tenant alongside Lerma.

The Luminary was 67 percent leased at the time of sale.
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. 

Stratus planning 316-unit community near UT Austin

​​AUSTIN (REBusiness Online) – Stratus Properties is developing The Saint George, a 316-unit multifamily community near the University of Texas.

Plans call for a pool, fitness center, ​rooftop deck, and communal workspaces.

About 10 percent of units will be allocated as affordable housing.​

Comerica Bank provided a four-year, $56.8 million construction loan.

Construction begins soon and wraps in mid-2024.
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Brookeast acquires 238-unit complex in Houston

HOUSTON (Colliers International) – Brookeast Capital LLC has acquired Vineyard Trace Apartments.

The 238-unit garden-style community sits on 8.45 acres at 15414 Kuykendahl Rd. It has one- to three-bedroom units.

Amenities include a clubhouse, sports court, security gate access, playground, laundry facility, barbecue grills, and two pools. 

The seller, Windmill Investments, was represented by Colliers International. 
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.

Two Houston manufactured housing communities sold

​​HOUSTON (REBusiness Online) – Capstone has arranged the sale of two manufactured housing communities totaling 322 sites.

Anderson Oaks is a 177-site community. Chase Village has 145 sites.

The properties had a combined occupancy of 97.5 percent at the time of sale.

Capstone represented the seller and procured the buyer. 

AHV to launch BTR complex in Leander

​​LEANDER (Connect CRE) – AHV Communities is planning a 224-unit build-to-rent community.

The complex will have three- and four-bedroom homes ranging from 1,500 to 1,900 sf.

​Amenities will include a pool, fitness center, dog park, and game courts.

Construction begins in first quarter 2023.​
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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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