RECON for March 7, 2023RECON for March 7, 20232023-03-07T06:00:00Z2023-03-07T06:00:00Z

RECON Texas Real Estate Research Center
Many Texans have observed the early arrival of bluebonnets thanks to last month's unusually warm weather. (Photo by TRERC photographer JP Beato III.)
March 7, 2023

Tesla breaks ground on $375M facility in Corpus Christi

CORPUS CHRISTI (BISNOW) – Tesla has broken ground on a lithium refinery in Corpus Christi.

The $375 million facility will refine and manufacture battery materials for Tesla's supply chain.

Completion is slated for the end of 2023.​
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Austin firm sells 263K-sf Irving office building

​​​IRVING (REBusiness) – Crestview Tower, a 262,962-sf office building at 105 Decker Ct. in the Las Colinas district, has been sold.

Built on 10.1 acres, the 12-story building was renovated in 2015 and was 78 percent leased when sold.

Amenities include a fitness center, conference facilities, tenant lounge, and various outdoor green spaces.

Newmark represented the seller, CapRidge Partners. 

Georgetown Costco set for June opening

​​​GEORGETOWN (Connect CRE) – A 160,000-sf Costco warehouse at 2201 N. I-35 will open in June.

The store and adjoining gas station cost $15 million to build. 
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JV starts renovations on 240K-sf Dallas office building

​​​DALLAS (REBusiness) – OliveMill Holdings has begun renovations on One West Village, a 240,000-sf office building at 2801 N. Central Expy.

Originally built in 2015, the 18-story building was used as the headquarters office for advertising agency, The Richards Group.

Completion is slated for this summer.

OliveMill Holdings owns the building in partnership with Angelo Gordon and Hunt Realty Investments, and Gensler is designing the project.
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50-acre mixed-use project slated for The Woodlands

THE WOODLANDS (Houston Business Journal) – Newman CRE is developing a 50-acre mixed-use project on the southeast corner of Gosling Rd. and West Rayford Rd.

Called Gosling Oaks, the project will have about 100,000 sf of retail and restaurant space and 40,000 sf of medical and professional office space.

The retail center will have six multitenant buildings between 9,000 and 51,700 sf and two one-tenant buildings, each less than 3,000 sf.

Additionally, 15 of the 50 acres will be sold to a multifamily developer to build an apartment complex by fall 2024.

Developers expect to break ground on the commercial segment in the first or second quarter of 2024 and completion is slated for spring 2025.​
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183-acre master-planned community coming to Waller

WALLER (Houston Business Journal) – Ashton Gray Development has begun construction on Oakwood Estates, a 183-acre single-family master-planned community at Knebel and Field Store Rd.

The project will have one- and two-story homes ranging from 1,800 to 3,000 sf. Pricing will range from the $250,000s to the $400,000s.

The community will also include a 28.5 acre lake with a mile-long trail around it and a 1.4-acre park with a recreation center, resort-style pool and children's playground.

Twelve of the 183 acres have been set aside for commercial development.​

Building materials supplier inks 100K-sf industrial lease

HOUSTON (Houston Chronicle) – The Detering Co. has leased a 100,000-sf warehouse at 1919 Collingsworth St. from American Warehouses.

Partners Real Estate represented the landlord, while Fritsche Anderson Realty Partners represented the tenant.
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