NewsTalk Texas

Legacy Preparatory acquires 55,000-SF Plano furniture store 


PLANO - A North Texas-based charter school, Legacy Preparatory Charter Academy, has purchased a 54,558-sf former Havertys furniture store at 601 Accent Dr.

This is Legacy Preparatory's first Plano location. The store will be located near Collin Creek Mall.

According to the Collin Central Appraisal District, the property is valued at nearly $3.4 million.

Read more at the Dallas Business Journal.

Canadian buyer purchases 1700 Pacific Dallas skyscraper 


DALLAS - Montreal-based Olymbec Group has acquired the 49-story, 1.3 million-sf 1700 Pacific tower at Pacific Ave. and St. Paul St.

The tower is more than 40 percent leased and major business tenants in the tower include Akin Gump Strauss Hauer & Feld LLP, Neiman Marcus, Mary Crowley Medical Research Center and Southcross Energy.

Built in 1983, 1700 Pacific is across the street from the site of the planned Pacific Plaza park.

Read more at the Dallas Morning News.

Victoria May 2014 home sales: Swearingen 


VICTORIA - The Swearingen Report for residential homes has been released for the 12 months ending June 2014 by Coldwell Banker The Ron Brown Company.

The average sales price for residential homes was $174,431 for the 12 months ending June 2014, up 4 percent versus June 2013 when it was $167,770.

The median price of residential homes for June 2014 was $159,000, up 6.4 percent from June 2013 when it was $149,450.

Victoria MLS Residential Home Sales June 2014
All Categories* 12 Months Ending
May 2013
12 Months Ending
May 2014
Residential property sales 878 928 5.7%
Residential total dollar volume $147,301,922 $161,871,569 9.9%
Average residential sales price $167,770 $174,431 4.0%
Median residential sales price $149,450 $159,000 6.4%
Total active listings end of month 227 235 3.5%
Months inventory 2.8 2.8 0.0%

*These figures refer to the residential homes market.

See the full report at Coldwell Banker The Ron Brown Company

CityLine Whole Foods Market will open in Richardson in 2016 


RICHARDSON - Whole Foods Market has confirmed a 40,000-sf store will open in the big CityLine development at Plano Rd. and Renner Rd.

The supermarket will anchor a 66,000-sf retail strip located on 8.5 acres in developer KDC’s project.

The $1.5 billion CityLine project includes State Farm Insurance’s regional office campus and an office complex for Raytheon Co.

The new Whole Foods Richardson store will open in spring 2016.

Read more at the Dallas Morning News and Dallas Business Journal.

Lodge at Kingwood to Duck Pond; Cardinal takes wing 

(7/24/2014 10:00:00 AM)

KINGWOOD - The Lodge at Kingwood, a 312-unit multifamily community at 938 Kingwood Dr., has been sold. The garden-style community totals 273,768 sf and was constructed in 1999.

The community is 95 percent leased and offers one- and two-bedroom apartments averaging 877 sf.

New York-based Duck Pond Corp. purchased the community from Cardinal Commercial Development.

Tenants have access to a swimming pool, newly renovated fitness center, barbecue and picnic areas, resident lounge with billiards table, cyber cafe and 32-seat movie theater.

Read more at CoStar Group.

Nothing average in Midland: home values rank first in Texas 

(7/24/2014 8:14:00 AM)

MIDLAND - Home values grew by more than 23 percent year-over-year in June, pushing the Tall City’s median price back to the number one slot statewide for the second time this year.

The median home price in June was $283,100, as 208 single-family homes, townhouses and condominiums were sold. The sales volume grew about 14.3 percent year over year, up from 182 transactions in June 2013.

The volume of homes sold is traditionally strongest during summer months, but the number of transactions in June surged beyond the average and to the highest level in Midland’s documented history.

No other Texas city recorded a higher June median home price than Midland, which has not happened since January. The Tall City also broke its own record for highest median home price by almost $32,000.

Last month, the median value of an Odessa home was $176,500.

Highest June Home Values Statewide
Midland $283,100
Fort Bend County $280,800
Collin County $272,700
Montgomery County $251,400
Austin $249,800

Read more at the Midland Reporter-Telegram.

Sold! 520,000-SF Residences at Cinco Ranch in Richmond 

(7/24/2014 8:10:00 AM)

RICHMOND - The 300-unit Residences at Cinco Ranch have been sold. The 519,627-sf apartment community consists of one-, two- and three-bedroom units in 13 buildings. The complex was built in 2008.

Apartment features include a central clubhouse, 24-hour athletic club, remote controlled entry access, business and conference center, coffee bar and pool with cabana.

The Michelson Organization sold the property to Starlight Investments' U.S. Multifamily No. 3 Core Fund (The Fund). The Fund secured a first mortgage loan of $23.9 million.

Alliance Residential Co. will manage the complex.

Read more at CoStar Group.

$1.3B Dallas' Parkland Hospital May 2015 finish line 

(7/24/2014 8:08:00 AM)

DALLAS - Construction on the new 2.1 million-sf Parkland Memorial Hospital is nearly complete. The $1.3 billion public hospital is 98 percent done and is finishing about two weeks ahead of time.

The new hospital will have 23 operating rooms, five more than the current facility.

If the 865-bed facility stays on schedule, it will open next May. Between now and then, equipment will be installed, all processes will be tested, and the staff will be trained to use the new building.

The hospital will move only its inpatients across Harry Hines Blvd. next spring. Other than the emergency department, all outpatient clinics and administrative offices will remain on the current hospital campus.

In addition, a medical-surgical outpatient clinic is expected to open on the new campus next year.

The hospital is expected to be complete by May 2015.

Read more at the Dallas Morning News.

240,000-SF Kohl's Dallas operations center set to open 

(7/24/2014 8:00:00 AM)

DALLAS - Kohl’s Department Stores will be opening its three-story 240,000-sf customer service operations center on July 29. It is expected to create more than 1,500 full-time and part-time jobs within the next four years.

The two-building facility at 17657 Waterview Pkwy. will be used to support the Kohl’s Charge payment program and

The other sites that will serve Kohl’s Charge and customers are located in San Antonio and Menomonee Falls, Wisconsin.

Read more at the Dallas Business Journal.

DFW August home foreclosure filings down 50 percent 

(7/24/2014 7:49:00 AM)

DALLAS-FORT WORTH - Dallas-Fort Worth home foreclosure filings for August are the highest in three months, but are still down more than 50 percent from 2013, according to data from Foreclosure Listing Service.

Lenders have scheduled 1,480 DFW homes for August’s foreclosure auctions, which is a 52 percent reduction from August 2013 totals.

The largest declines are in Denton County (down 58 percent from 2013) and Tarrant County (down 54 percent).

Collin and Dallas County foreclosure postings are 50 percent less than in August 2013, according to the Addison-based foreclosure tracking firm.

So far in 2014, foreclosure filings in the four-county area are almost 40 percent less than in the first eight months of 2013 and substantially less than in 2010, when almost 64,000 North Texas homes were posted for foreclosure.

Read more at the Dallas Morning News.

Skybox Houston One: 90,000-SF data center to Energy Corridor 

(7/24/2014 3:20:00 AM)

KATY - Skybox Houston One, an 86,960-sf center located on a 20-acre campus on Franz Rd., is underway in the Energy Corridor. The center will have four private 10,000-sf data halls with the option to expand to 12 data halls.

Skybox Houston One will include 12.5 megawatts of critical load and is powered by a loop-fed, 300-megawatt electric utility substation immediately adjacent to the site.

All data halls will be column-free with directly adjacent dedicated power and cooling distribution galleries close to the server loads. The truck delivery dock will include security features such as security cameras, man traps, card access and biometrical identification.

The center is being developed by Dallas-based Skybox Datacenters. It is slated for completion in November.

Read more at the Dallas Business Journal.

Webster's $160M Bay Area Medical Center opening 


WEBSTER, HARRIS COUNTY - The $160 million Bay Area Regional Medical Center, 200 Blossom St., is set to open July 2014. The 375,000-sf first phase includes 104 patient suites and 22 intensive care unit rooms.

The hospital also has a full-service emergency room with 11 treatment rooms, five operating suites, three cardiac cath suites and one hybrid operating room that functions as a cardiac cath suite and an operating suite.

The second phase will expand the hospital to 202 beds. The designing and planning is scheduled to begin in October. Completion of the second phase is expected in September 2015.

The hospital is expected to employ 520 people full-time with a payroll of about $36 million in fiscal year 2014, and approximately 98 percent of its jobs are filled. When it is fully built out, the hospital will have 275 patient rooms in 11 floors.

Read more at the Houston Business Journal and the Houston Chronicle.

It's elementary, Midland: three 93,000-SF schools coming 


MIDLAND - A $163 million bond passed in 2012 is funding the construction of three new elementary schools. Trustees approved design development plans for each of the three new 800-student, 93,000-sf campuses last November.

Bunche Elementary School, located at 702 S. Jackson St., broke ground on May 15. It was the first groundbreaking on a new Midland ISD campus in 22 years.

The Barbara Fasken Elementary School located at 5806 Val Verde is set to break ground July 29.

The ceremony for the new school at 6000 Riverfront Dr. in the Legends Park neighborhood is set for July 30.

Each school is expected to cost $18 million to construct according to the Texas Department of Licensing and Regulation.

Read more at the Midland Reporter-Telegram.

Kohl's to hire 500 in San Antonio 


SAN ANTONIO - Wisconsin-based retailer Kohl’s Department Stores is once again expanding its workforce in San Antonio.

Between August and November, the company plans to hire approximately 500 people for full-time seasonal employment.

The employees will be located at the retailer’s Customer Service Operations Center at 10000 Rogers Run Blvd. on the far West Side.

Employment will last through January 2015. There is, however, the potential for positions to become permanent.

Read more at the San Antonio Business Journal.

Wichita Falls: June home sales down, sales volume up 


WICHITA FALLS - Numbers released by the Wichita Falls Association of Realtors (WFAR) show 123 existing homes sold in June, a drop from 140 in May. In 2013, 144 existing homes sold in May, and June’s numbers dropped to 121.

While the number of homes sold decreased, sales volume increased from May to June by a little more than $400,000 with the average sales price coming in at $148,376.

Penny Riordan, president of the WFAR and a realtor with Strategic Realtors in Henrietta, said she sold more higher end homes than lower end homes in June.

Existing home sales could rebound in the second half of the year, statistics show. Sales increased each of the last three years from July through December. August proved to be the best month during those months of the last three years, averaging 134 sales, followed by July with an average of 128.

The top price class for existing homes sold in June 2014 was the $120,000-$139,999 range with 15 closings. That was followed by 14 in the $140,000-$159,999 range, 11 in the $200,000-$249,999 range, and 10 in both the $100,000-$119,999 and $180,000-$199,999 ranges.

Read more at the Wichita Falls Times Record News.

Sugar Land: TI opens 160,000-SF R&D center 


SUGAR LAND - Texas Instruments Inc. (TI) has opened a new 160,000-sf research and development center. The seven-acre site at the northeast corner of US 59 and University Blvd. will house 375 employees to work in TI’s embedded processing business.

The staff relocated from TI’s 45-year-old silicon wafer factory about five miles away in Stafford that was shut down last year.

The new building includes an Innovation Center showcasing TI’s latest technology, collaboration spaces, an employee courtyard, a fitness center, outdoor basketball and volleyball courts, and a walking path around the building.

In late 2012, the City of Sugar Land approved an incentive package for TI: 50 percent tax abatement for ten years based on the company’s $35 million investment and creation of 375 jobs.

TI makes semiconductor chips used in a variety of electrical and electronic products. Embedded processors and related software are used in a number of innovative applications — from smart thermostats to medical imaging to automotive navigation systems.

Read more at the Dallas Morning News.

Houston Zoo goes bananas for $29M gorilla exhibit 


HOUSTON - Construction of the $29 million “Gorillas of the African Forest” exhibit at the Houston Zoo is more than halfway done. The two acres will soon be home to ten gorillas.

The exhibit will give the experience of being right in the middle of an African forest. There will be walking paths and a platform overlooking the thick green vegetation. The gorillas will have "bedrooms" that are separate from their social area.

"We will have Western Lowland gorillas. The males will be 500 pounds. The females are smaller. They are about 250 each," said Beth Schaefer, the Curator of Primates and Carnivores at the Houston Zoo.

"You'll be about 15 feet above where the gorillas are. They can't jump that high, so you'll be just looking out at them without any walls. Without anything between you and the gorillas," said Deborah Cannon, the CEO and President of the Houston Zoo.

Guests will get a unique opportunity for special events. "We will have some feeding tubes to feed grapes to the gorillas and be right there with a window in between," said Cannon. The exhibit will open next spring.

Read more at KHOU-TV.

Texas tops country in commercial building 

(7/23/2014 10:00:00 AM)

TEXAS - Texas is leading the country in the rebound of commercial building activity.

But developers have a long way to go to get back to where construction totals were before the recession, according to a new report by the National Association of Industrial and Office Parks (NAIOP).

Texas is the top market for most types of commercial construction, including office, warehouse and retail.

Last year there was almost $5.8 billion in nonresidential building across the state. The largest share was office construction at $2.7 billion, followed by retail at $1.6 billion and warehouse at $1.1 billion.

A study by the NAIOP found that hard costs for construction of projects including office, warehouse and retail buildings totaled $61.6 billion nationwide in 2013. This was a 25.2 percent rise from 2012.

Read more at the Dallas Morning News.

Nothing 2nd about Second Baptist's 165,000-SF Katy campus 

(7/23/2014 10:00:00 AM)

KATY - Second Baptist Church broke ground on its sixth campus earlier this year at FM 1463 and FM 1093. The new 165,000-sf campus is being built on 45 acres.

The campus will have about 1,100 parking spots and seat more than 3,000 people for weekend church services. The church is on track to complete the building between Easter weekend and the start of summer 2015.

Church officials plan to start with just one service at the new campus, but growth may dictate more worship times.

Once the Fort Bend campus is completed, the church will likely build a new campus in Cypress, which will then negate the need to meet in the Berry Center, where Cypress residents who attend the church currently meet.

Read more at the Houston Chronicle.

Union Crossing to 104-acre expansion in NW Houston 

(7/23/2014 9:00:00 AM)

HOUSTON - Union Crossing Development has purchased an additional 104 acres to expand its Union Crossing Industrial Park at Telge Rd. and Northwest Lake Dr. This brings the project to more than 130 acres.

The park, which is served by Union Pacific rail, contains multiple sites for build-to-suit projects. The tract includes all utilities for light- to heavy-industrial projects.

The project is anticipated for completion in summer 2015, but nearly 40 acres are ready for immediate development. American Commercial Contractors is constructing a 45,000-sf tilt-wall building for DTL Technologies and three other sites in the park are under negotiation.

Wyman Gordon Forgings, a maker of forged products used in the aerospace, power plant and oil and gas industry, sold the property. American Commercial Contractors is managing the development for the project.

Read more at the Houston Chronicle.

Tyler's Corporate Green Office Park growing to 30,000 SF 

(7/23/2014 8:00:00 AM)

TYLER - Construction is underway on the Corporate Green Office Park on Paluxy Dr. The first four buildings will be nearly 5,000 sf each, while the fifth building will be about 10,000 sf. The five buildings will sit on about 6.5 acres.

The first two buildings, which are together 80 percent leased, are nearing construction and will house tenants beginning fall 2014. The third building will begin grading in August, according to developer Phil Burks. Once Building 3 is 50 percent leased, work will begin on Building 4.

HW Lochner, a civil and transportation engineering company, will occupy 100 percent of the first building, and Progressive Insurance will occupy 60 percent of the second.

Read more at the Tyler Morning Telegraph.

Omnitracs' fleet will move from San Diego to Dallas 


DALLAS - Omnitracs LLC will relocate its headquarters from San Diego to Dallas, creating 450 jobs and $10 million in capital investment.

The fleet management software company will move into KPMG Centre downtown. Active Network, another California-based firm, will be joining Omnitracs in the downtown building.

The Texas Enterprise Fund is providing a $3.9 million incentive to attract Omnitracs to the Dallas-area. The new headquarters will house jobs in engineering, research and development and finance.

Omnitracs services include software applications, GPS fleet tracking, platforms and information services.

Read more at the Dallas Business Journal and GlobeSt.

Houston Chron! Hear all about it! 440,000-SF office move 


HOUSTON - The Houston Chronicle Media Group will consolidate most of its downtown workforce at 801 Texas into the former Houston Post building at 4747 Southwest Fwy. The location is a four-story structure on 21 acres.

Executives said they anticipate an 18-month timeline for the move, which would include a significant renovation of the 40-year-old property. Ideally, the renovations will be completed in January 2016.

The move will involve employees from the Houston Chronicle, La Voz, and, though a portion of the newsroom will remain downtown to support local coverage of business and government.

The Chronicle's downtown building houses 473 employees. A little more than 500 employees work in the southwest facility. Approximately 100 employees who work outside of the company's two main facilities will not be consolidated into the new campus.

The Southwest Fwy. structure contains more than 440,000 sf in seven buildings, most of which are connected.

The main building most visible from the freeways will undergo the most extensive renovations. That property contains about 126,000 sf in four stories of largely unobstructed space.

The property housed the Houston Post until April 1995, when that newspaper closed and its assets were sold to Hearst, parent company of the Houston Chronicle. Today, it is home of the Chronicle's press operations, distribution, circulation and local sales teams.

Read more at the Houston Chronicle.

Austin ISD 'fine' $40M performing arts center 


AUSTIN - The 68,000-sf Austin Independent School District Performing Arts Center is under construction at the corner of Barbara Jordan Blvd. and Mueller Blvd. in East Austin. The 1,200-seat auditorium will open in mid-November.

The center, which has a budgeted cost of $40 million, is expected to come in below budget. A 440-car garage will be adjacent to the main building.

It will have a grand opening on January 22, 2015, and is already booked until the middle of 2015.

Read more at the Austin American-Statesman.

Manor's retail boom drives 148 percent tax revenue growth 


MANOR, TRAVIS COUNTY - With sales tax allocations for two months still to come this fiscal year, Manor has already brought in $555,280 — $50,000 more than in all of 2013.

For July alone, the city’s sales tax allocation was up 148 percent, growing from $31,364 in 2013 to $77,804 this year. The sales tax revenue Manor expects to receive this fiscal year is on track to double the $331,808 it took in during fiscal 2010.

A recent burst of commercial development has given the Manor area a number of new shops and restaurants — including a Walmart Supercenter — and more businesses are on the way, according to developers and city leaders.

The new Manor Expy., which largely runs parallel to US 290, makes it easier to get between Austin and Manor, making the area more appealing and contributing to the city’s growth, according to local developer Pete Dwyer.

Read more at the Austin American-Statesman.

See the Texas Comptroller of Public Accounts for more information.

Vibra Healthcare sets October 1 opening for Lakeway location 


LAKEWAY, TRAVIS COUNTY - Vibra Rehabilitation Hospital of Lake Travis has announced plans to open October 1, 2014. The 58,000-sf hospital is located at 2000 Medical Dr. in the space formerly known as the Lake Travis Specialty Hospital.

Medical personnel in the 36-bed facility will treat patients who have conditions involving a stroke, neurological injury, orthopedic injury, multi-trauma, pulmonary care and cardiac care. The facility will employ 150 to 200 workers.

The property, vacant since its 2011 completion, was leased to Vibra Healthcare in February 2014. The Pennsylvania-based company has facilities in 18 states across the United States.

Read more at Community Impact Newspaper.

Bottle Rocket shoots to new Addison HQ 


ADDISON - Bottle Rocket is expanding to a new Addison location by leasing 49,570 sf in the Aberdeen building located at 14841 Dallas Pkwy.

The mobile software application developer will house its new headquarters in the former head offices of Pizza Hut. The company will move from the nearby Wellington Centre building, where it leased 15,000 sf in 2011, by the end of this year.

Read more at the Dallas Morning News and Dallas Business Journal.

Woodway: 14,200-SF Premier ER Plus opens in August  


WOODWAY - Premier ER Plus, a full-service emergency facility, is scheduled to open in August. The 14,228-sf facility is going up at 9110 Jordan Lane on a 1.8-acre site.

The ten-room ER will be staffed 24 hours a day by certified emergency room doctors and nurses. The facility will have CT, ultrasound, X-ray, sophisticated laboratory services and ambulance bays.

Premier ER Plus will be able to tend to heart attacks, strokes, pneumonia and broken arms, just like the other emergency facilities. The facility intends to have a good working relationship with Providence and Hillcrest, and will transfer patients to each under certain circumstances.

The center's website says it is both an emergency and urgent care facility. It adds that they will accept most commercial and private insurance, but is not yet able to take Medicare, Medicaid or Tricare insurance.

Read more at the Waco Tribune-Herald.

656-Unit Honey Creek buzzes North Dallas sale 

(7/22/2014 10:00:00 AM)

DALLAS - Drever Capital Management has sold Honey Creek, a 656-unit workforce housing community in North Dallas, after a $3.7 million, seven-year redesign and repositioning that saw the occupancy rise from 80 percent to 94 percent.

The three-story, 22-acre multifamily community was acquired by B.H. Management. By transforming the Class C property to a Class B property, Drever Capital was able to generate a healthy amount of attention from across the nation.

Honey Creek, which sits at 11611 Ferguson Rd. off I-635, was purchased by Drever in 2007.

A new children’s playscape was installed, the leasing office and clubroom were modernized, a resident computer equipped business center was added, along with a new camera-equipped security system, privacy access gates, and reserved parking.

Honey Creek primarily serves families with workforce incomes.

Read more at GlobeSt. and the Dallas Business Journal.

BLVD Place Phase II adds 215,000 SF to Uptown Houston 

(7/22/2014 8:30:00 AM)

HOUSTON - BLVD Place, a mixed-use development under construction on the southwest corner of Post Oak Blvd. and San Felipe, is scheduled to open its 215,000-sf Phase II in early fall 2014.

Phase II is 80 percent leased. Major tenants include a 52,000-sf Whole Foods Market and a 55,000-sf regional headquarters for Frost Bank. Wulfe & Co. is the project’s developer.

Phase I of BLVD Place is a four level 70,000-sf retail/office building and is 100 percent occupied. Tenants include RDG Restaurant+Bar Annie, The Table Restaurant, Hermes, Herman Miller, New Balance and numerous other tenants.

Read more at Realty News Report.

Austin housing market blistering through first half 2014 

(7/22/2014 8:00:00 AM)

AUSTIN - For the first six months of this year, Austin area home sales were up 3 percent over the same period in 2013. That pace keeps 2014 on track to surpass last year’s record home sales total, according to the Austin Board of Realtors.

There were 13,426 single-family home sales from January through June 2014. The median price of those sales was $239,000, a 7 percent increase from the first half 2013.

The midyear tally was boosted by a surge in sales in June, which came in just shy of 3,000, a 13 percent increase from June 2013’s volume and setting a record for June sales.

The median sales price was $252,520, a 7 percent increase from June 2013, the board said.

Single-family homes spent an average of 39 days on the market in June, four days fewer than the prior June and the fastest rate since 2001.

Amid Central Texas’ ongoing job and population growth, 2014 “could very well turn out to be another ‘best year ever’ for Austin-area home sales,” said Bill Evans, president of the Austin Board of Realtors. “Both homebuyers and sellers can expect the rest of the summer selling season to be highly competitive.”

Read more at the Austin American-Statesman.

Rio Grande Valley residential, commercial permits May 2014 

(7/22/2014 8:00:00 AM)

RIO GRANDE VALLEY - The Rio Grande Valley Partnership has released the May 2014 Business Barometer which includes building permit statistics. Here's a sample.

Rio Grande Valley Residential and Commercial Building Permits
Residential Building Permits   Commercial Building Permits
May YTD 2014 YTD 2013 City May YTD 2014 YTD 2013
$4,821,256 $23,935,160 $25,988,817 Brownsville $17,799,000 $31,663,320 $35,118,551
$370,000 $1,408,500 $826,175 Donna $11,773,000 $12,373,000 $92,208
$3,418,220 $20,560,439 $28,168,625 Edinburg $9,217,418 $30,128,994 $15,627,223
$1,341,365 $6,263,527 $6,779,191 Harlingen $627,100 $10,767,248 $64,646,688
$6,968,379 $31,948,184 $25,855,123 McAllen $5,175,200 $21,462,081 $39,501,678
$5,153,137 $19,504,881 $15,893,067 Mission $3,358,900 $10,175,815 $60,775,000
$2,840,683 $11,913,261 $10,422,224 Pharr $1,159,956 $30,971,113 $26,262,949
$1,022,789 $4,669,153 $6,130,480 Weslaco $3,500,000 $8,773,544 $6,813,000
$30,134,490 $140,202,561 $139,855,054 Totals* $62,737,974 $172,625,922 $262,955,376

*Totals include all cities in the Rio Grande Valley.

Source: Rio Grande Valley Partnership

NTREIS: DFW home sales by units sold June 2014 

(7/22/2014 7:01:00 AM)

DALLAS-FORT WORTH - North Texas Real Estate Information Systems (NTREIS) released home sales facts for June 2014.
Some quick facts include:

• The median price of existing single-family homes increased to $190,150 up 5.6 percent vs. May 2014.
• Existing single-family home sales increased 0.8 percent from May 2014 for a June 2014 total of 8,073 sold units.
• Condos decreased in price to $157,150 down 0.2 percent vs. May 2014.
• Existing condo sales decreased 0.5 percent in June 2014 over May 2014 for a total of 556 sold units.

Select region cities are represented below along with statistics from the NTREIS area as a whole.

NTREIS June 2014 Regional Sales and Price Activity
MLS Wide Median Price
  June 2014
Price Chg.
vs. June 2013
Units Sold
  June 2014
Sales Chg.
vs. June 2013
$190,150 5.9% 8,073 -2.0%
NTREIS (condo) $157,150 1.4% 556 16.3%
Region Cities*        
Fort Worth $164,900 14.2% 918 -1.7%
Dallas $287,000 4.7% 770 -13.3%
Arlington $151,000 7.9% 358 14.7%
Frisco $307,000 9.1% 335 2.1%
Plano $275,000 3.4% 324 -6.9%
McKinney $260,000 6.1% 240 -2.0%
Garland $140,000 10.7% 172 -12.7%
Abilene $142,000 6.0% 157 16.3%
Flower Mound $308,200 8.7% 148 12.1%
Denton $179,900 9.7% 145 -1.4%
Allen $265,000 8.4% 141  -16.6%

*Region Cities' data include single-family only and represent 11 select cities sorted by units sold.

See Housing under Dallas-Fort Worth-Arlington Market Data Sources or see the full report from North Texas Real Estate Information Systems.

CBRE: San Antonio industrial 2Q 2014 

(7/22/2014 7:00:00 AM)

SAN ANTONIO - Despite a lack of available space, the San Antonio industrial market had another quarter of positive activity. Net absorption for second quarter 2014 was positive 205,961 sf, shrinking vacancy to 6.6 percent, according to CBRE.

The industrial market ended the first half 2014 with a total of 541,541 sf of positive net absorption.

NNN asking rates for available industrial space jumped to $6.33 per sf this quarter, a $0.34 increase from asking rates in Q1 2014. This is the first time city-wide asking rates have risen above the $6.00 range since 2011.

Below is a preview of CBRE's 2Q 2014 full report.

San Antonio Industrial Market Statistics: 2Q 2014
Market Rentable
Avg. Asking Lease Rates
Flex R&D
CBD 335,229 2.4% 2.4% 0 $0.00 $0.00
North Central 5,876,207 6.9% 6.9% 77,447 $6.84 $8.84
Northeast 19,871,878 4.9% 10.5% 120,963 $4.37 $7.54
Northwest 5,182,892 11.0% 13.0% 7,551 $4.36 $9.74
South 2,795,962 10.7% 10.7% 0 $2.88 $8.69
Total 34,062,168 6.6% 10.5% 205,961 $4.55 $8.78

*for NNN leases

See CBRE's full report including previous quarters.

Also see other real estate sectors at San Antonio Market Data Sources.

CBRE: El Paso industrial 2Q 2014 + Cd. Juarez 

(7/22/2014 6:49:00 AM)

EL PASO - El Paso recorded a solid level of positive net absorption in second quarter 2014, after two consecutive quarters of negative net absorption. Additionally, the local market set a 13-quarter high for net absorption.

The reported 341,574 sf of net absorption in 2Q 2014 was a result of 624,202 sf of gross absorption and 282,628 sf of newly vacated space. This ultimately decreased the overall market vacancy rate to 13.7 percent, from 14.5 percent in 1Q 2014.

Furthermore, the West submarket recorded the highest net absorption of 327,432 sf, which cut the West submarket vacancy rate by more than half, to 4.3 percent. The historically active Lower Valley submarket recorded 138,211 sf of net absorption. The East and Northeast submarkets reported negative net absorption, while the Central submarket remained inactive.

Below is a preview of CBRE's 2Q 2014 full report.

El Paso Industrial Market Statistics 2Q 2014
Market Rentable
Area (SF)
Avg. Asking
West 7,297,692 4.3% 10.6% 327,432 $3.95
Northeast 9,002,943 17.2% 22.0% -47,700 $3.34
Central 13,788,135 6.5% 8.1% 0 $3.08
East 18,166,890 15.4% 19.3% -76,369 $3.89
Lower Valley 6,252,369 31.0% 32.7% 138,211 $4.05
Total 54,508,029 13.7% 17.3% 341,574 $3.73

Click for the CBRE's full report including previous quarters.
For Ciudad Juarez, click here.

Also see other real estate sectors at El Paso Market Data Sources.

Key starts 232,000 SF lease in Flower Mound 


FLOWER MOUND - Keystone Automotive Operations has leased 231,754 sf at 351 Lakeside Pkwy.

Keystone Automotive will occupy all of Lakeside 1, a single-tenant industrial building that was constructed in May 2014.

Keystone Automotive Operations started as a distribution center for other enthusiasts and small local repair shops in Pennsylvania. In 1971, the business evolved into Keystone Automotive Operations. The company now has 25 locations across the United States.

Read more at CoStar Group.

Colliers: Houston office report 2Q 2014 


HOUSTON - Houston’s strong economy continues to spur office development according to Colliers International's second quarter 2014 report. Over 17.8 million sf of office space is currently under construction.

Over 1.7 million sf of new inventory delivered during 2Q 2014, bringing 2014 year-to-date delivered inventory to 3.7 million sf.

The citywide average rental rate increased 1.0 percent from $26.25 per sf to $26.52 per sf over 2Q.

The metropolitan area added 93,300 jobs between May 2013 and May 2014, an annual increase of 3.3 percent over the prior year’s job growth. Houston’s unemployment fell to 5.0 percent from 6.1 percent one year ago.

Houston Office Market Summary
    Inventory Vacancy Rate Net Absorption (SF) Rental Rate
Submarket Class No. of
Total SF 2Q 2014 1Q 2014 2Q 2014 1Q 2014 Average
CBD A 31 30,778,455 9.8% 10.6% 227,672 -30,481 $40.54
B 31 10,517,518 11.6% 12.2% 59,895 11,485 $27.51
Suburban A 294 75,225,262 9.3% 8.4% 948,944 2,194,677 $31.95
B 938 78,395,002 14.4% 14.7% 324,097 61,661 $19.71
Overall A 325 106,003,717 9.5% 9.2% 1,176,616 2,164,196 $34.09
B 969 88,912,520 14.1% 14.5% 383,992 73,146 $20.39

Click here to see the full 2Q report, including the previous quarter.

Source: Colliers International

Waco's dormitory on steroids: The 550,000-SF View on 10th 


WACO - The View on 10th, a 550,000-sf private dormitory, will open in August. It is located on about four acres at 1001 Speight Ave. It features 257 apartments and 718 bedrooms, 708 of which have been preleased.

“It’s open to anyone, but students, especially Baylor students, make up 98 percent of our prospective occupancy,” leasing agent Amy Hartstack said. Students likely will begin occupying the complex the week of August 18.

At 550,000 sf, and with an eight-story parking garage towering above its midsection, The View looks like a dormitory on steroids.

Hartstack said monthly rates are $1,180 to $1,190 for one-bedroom apartments, $700 to $720 per bedroom for two-bedroom units, and $605 per bedroom in four-bedroom apartments.

Amenities include an eight-story parking garage, a fitness center, Internet cafe and a study lounge, pool and hot tub with poolside cabanas, scooter and bike racks inside and outside, free tanning facilities, and controlled access to the buildings.

Dallas-based Copeland Commercial LLC and New Jersey-based University Student Living (USL) are developing the project.

This is the largest Class A student housing community ever built in Waco according to Brad Copeland, president of Copeland Commercial LLC.

Read more at the Waco Tribune-Herald.

Richmond Sam's Club opening 136,000-SF store 


RICHMOND - A 136,000-sf Sam's Club is set to open November 6 at the Shops at Bella Terra off the Grand Parkway.

The membership-only warehouse club will be located at 22402 Bellaire Blvd, The company has already hired 15 people and said it expects to hire 175 employees at the location.

This will be the 80th Sam’s Club in Texas and the 20th in the greater Houston area, said Sam’s Club spokeswoman Valerie Anderson.

Sam’s Club, which is owned by Walmart, has 640 locations in the U.S. and Puerto Rico.

Read more at the Houston Chronicle and the Houston Business Journal.

Walton purchases Fort Worth land for 1,100-home community 


FORT WORTH - Walton Group of Cos. has purchased 268 acres recently opened by the Chisholm Trail Pkwy. to develop a 1,100-home master-planned community which will include commercial real estate.

In June, Walton Group purchased 1,775 acres in Fort Worth from the Texas General Land Office in Tarrant County for a development project off Chisholm Trail Pkwy.

The two land purchases are in close proximity and will be sharing development resources.

Walton is working with Crowley ISD on a planned elementary school site for the first phase of the community's development.

Home lots for the community are expected to begin delivering by the end of 2015.

Read more at the Dallas Business Journal.

Frisco dealership purchased by Florida-based auto group 


FRISCO - Orlando-based Greenway Auto Group has purchased Toyota dealer Pat Lobb’s 50,000-sf Chrysler-Jeep-Dodge-Ram store.

The Frisco dealership was opened about 15 months ago.

The dealership off of SH 121, called Frisco Chrysler Dodge Jeep Ram, kept “90 to 95 percent” of the employees and is “running at full speed," according to an operating partner at Greenway Auto Group.

In 2013, the dealership sold 909 vehicles.

Read more at the Dallas Morning News.

Rockport home sales June 2014: Swearingen 


ROCKPORT - The Swearingen Report for residential homes has been released for the 12 months ending June 2014 by Coldwell Banker The Ron Brown Company.

The average sales price for residential homes was $253,334 for the 12 months ending June 2014 — up 8.5 percent versus the same period last year when it was $233,474.

Total sales of residential homes for Rockport MLS for the 12 months ending June 2014 was 503, an increase of 5.5 percent (26 homes) versus the same period last year.

Rockport MLS Single-Family, Condo/Townhome Residential Sales
All Categories* 12 Months Ending
June 2013
12 Months Ending
June 2014
Residential property sales 477 503 5.5%
Residential total dollar volume $111,367,248 $127,426,995 14.4%
Average residential sales price $233,474 $253,334 8.5%
Median residential sales price $175,000 $183,000 4.6%
Total active listings end of month 444 424 -4.5%
Months inventory 8.7 9.9 13.8%

*Figures refer to the single-family and condo/townhome market.

See the full report at Coldwell Banker The Ron Brown Company.

San Antonio gains 4,000 jobs in June 


SAN ANTONIO - Employment in the San Antonio MSA grew by 4,000 jobs, or 0.4 percent, in June over the prior month, according to the latest report from Workforce Solutions Alamo.

Industries that added workers in June include:

• leisure and hospitality gained 3,400 jobs;
• professional and business services added 2,200 jobs;
• construction added 600 jobs;
• financial activities grew by 400 jobs; and
• manufacturing added 300 jobs.

Over the past 12 months, employers in the region added 22,500 more jobs for an annual growth rate of 2.5 percent since June 2013.

Read more at the San Antonio Business Journal. For the full report, see the Texas Workforce Commission.

Elan Oaks assisted-living facility budding in Flower Mound 


FLOWER MOUND - The 82-unit Elan Oaks is well underway. The assisted-living and memory care facility is located at 3281 Long Prairie Rd.

When open, the property will feature 58 studio, one-bedroom, and two-bedroom assisted-living apartments as well as 24 private and semi-private memory care suites.

Elan Oaks is expected to create more than 100 new jobs once completed.

The facility marks the first project of a property portfolio that StoneCreek Real Estate Partners has under development.

Read more at the Fort Worth Business Press.

FedEx's consolidating HQ ship with 265,000 SF in Plano 

(7/21/2014 10:00:00 AM)

PLANO - FedEx Office & Print Services Inc. has broken ground on its 265,000-sf corporate campus, which will consolidate its North Texas operations.

The Dallas-based company, a subsidiary of Memphis-based FedEx Corp., will sit on former J.C. Penney Co. land in West Plano.

The campus will consolidate FedEx Office's 310,000-sf footprint that's spread between its Dallas headquarters and Plano support office.

The company will vacate about eight floors at Three Galleria Tower at 13155 Noel Rd. upon its move into the new headquarters, which will be completed at the end of 2015.

Read more at the Dallas Business Journal.

Lewisville Lake Vista Pointe is $28M buy update 


LEWISVILLE - The 163,000-sf Lake Vista Pointe office property has been purchased for $28.4 million by City Office REIT Inc. The office is fully leased to Ally Financial Inc. through 2021. Previously, the property was previously under contract.

Located in a Lewisville business park, the complex is situated in close proximity to the Dallas-Fort Worth International Airport and three of Dallas' major highway systems including the Sam Rayburn Tollway (SH 121), I-35 and Texas State Hwy. 114.

Read more at PRNewswire. Listen to Podcast 220 for more Small Towns, Big Deals.

Round Rock, Pflugerville, Hutto home sales: May 2014 


ROUND ROCK, PFLUGERVILLE, HUTTO - Real estate market data for the Round Rock, Pflugerville, Hutto area by zip code have been released. Here's the latest.

Round Rock, Pflugerville, Hutto Monthly Home Sales
Month Number of Sales Median Price
Pflugerville Hutto Round
Pflugerville Hutto
May 2014 320 155 66 $271,888 $200,393 $185,047
May 2013 341 168 53 $251,920 $179,465 $153,242
Apr. 2014 260 156 73 $266,341 $199,378 $185,094
Mar. 2014 271 116 45 $257,075 $185,203 $161,259
Feb. 2014 158 87 49 $203,500 $189,000 $156,000
Jan. 2014 147 80 26 $209,000 $174,575 $147,250
Dec. 2013 238 147 42 $232,347 $181,500 $153,458
Nov. 2013 181 103 35 $234,600 $162,125 $145,000
Oct. 2013 238 125 65 $228,875 $183,000 $154,202

Source: Austin Board of Realtors

See the July Community Impact Newspaper. Make your life easier, go to page 42!

Killeen housing permits by the numbers Jan.-June 2014 


KILLEEN - The City of Killeen has released building permit data for June 2014.

Killeen Building Permits Jan.-June 2014
  Single-family Duplex
Month #
Jan. 59 $9,124,603 1 $165,000
Feb. 80 $11,421,881 4 $632,432
Mar. 81 $11,007,106 2 $320,000
April 82 $13,277,293 32 $4,706,372
May 36 $4,882,833 3 $489,360
June 75 $10,081,833 2 $320,000
Totals 413 $59,795,549 44 $6,633,164

Source: City of Killeen

Austin Hanover South Lamar apartments to allow move-ins 


AUSTIN - Hanover South Lamar, a luxury apartment complex under construction at 809 S. Lamar Blvd., will open some units to a limited number of residents in August. Preleasing began at the end of June, and substantial completion of the project is slated for fourth quarter 2014 or 1Q 2015.

Hanover South Lamar offers one- and two-bedroom units ranging in size from 491 sf to 1,513 sf. Rent varies from $1,499 to $3,674.

As of now, 3.5 percent of the units have been leased and the company wants to attain its goal of 10 to 15 percent by August 22, according to Rita Anderson, community manager at Hanover South Lamar.

Hanover South Lamar is located close to Barton Springs Road, two blocks south of the Colorado River. The company is marketing the units as being a walkable distance to Zilker Park, downtown Austin and the University of Texas at Austin campus.

Read more at the Austin Business Journal. For more information about the community, see Hanover South Lamar.

CenterPoint buys 1.4M SF, doubles Houston portfolio 


HOUSTON - CenterPoint Properties, an Illinois-based industrial real estate developer, has closed on two separate deals for facilities totaling 1.4 million sf, doubling its presence around the city.

The first deal was the acquisition of four buildings in the Cedar Crossing Industrial Park in Baytown totaling 1.2 million sf. Exel Logistics occupies all four buildings, where the company manufactures and packages plastic resin.

The second deal was 3240 South Loop E. The company bought a 212,961-sf facility currently occupied by another logistics and commodities company, Gulf Winds International, which ships coffee and rice.

CenterPoint is targeting customers doing business with the Port of Houston.

Read more at the Houston Business Journal.

Texas takes a Gander for #20: 52,000 SF to Houston 


HOUSTON - Gander Mountain is expanding with a new 52,000-sf location set to open in the fall. It will be located in the Market Square at Eldridge Pkwy. shopping center near the intersection of Eldridge Pkwy. and Westheimer Rd.

The store will feature one of the largest selections of new and used firearms in Texas, together with the best selection of gear and accessories for hunting, fishing, camping, boating and archery.

Read more at AmmoLand.

June 2014 San Antonio median home price sets record high! 


SAN ANTONIO - The median price for an existing single-family home climbed 5 percent to a record high of $188,200 in June. In June 2013, the median price was $179,400, according to data from the San Antonio Board of Realtors (SABOR).

The number of homes sold increased 6 percent to 2,474, reversing a slide in May, when sales dropped 6 percent compared with the year earlier period.

Houses stayed on the market for 65 days in June, a better showing than June 2013, when homes stayed 74 days on the market before selling, SABOR said.

Year to date, 11,655 homes have been sold in San Antonio, a 3 percent increase over the same period in 2013, SABOR said.

Read more at the San Antonio Express-News.

Austin jobless rate rises slightly, below state average 


AUSTIN - Austin's jobless rate ticked higher in June 2014, up to 4.4 percent from 4.1 percent in May, though it's still much lower than the 5.7 percent unemployment seen in the Austin area in June 2013.

The local unemployment rate numbers, from the Texas Workforce Commission, are not seasonally adjusted.

Austin's unemployment rate remains far below the average national rate of 6.3 percent unemployed, and also below Texas' 5.1 percent unemployment rate, which remained steady in June.

In Austin, an extremely competitive job market caused by the low unemployment is making it hard for many companies — especially in the technology industry — to fill vacant jobs.

Statewide, the Texas economy added about 19,100 seasonally-adjusted non-farm jobs in June 2014, bringing the total number of new jobs since June 2013 to 371,000.

Read more at the Austin Business Journal.

For more stats on employment and other sectors, see the Texas Workforce Commission and Austin-Round Rock-San Marcos Market Data Sources.

Killeen area unemployment up from May, down from 2013 


KILLEEN-TEMPLE-FORT HOOD - The Texas Workforce Commission has released June 2014 figures, showing that cities throughout the Killeen-Temple-Fort Hood area all saw increases in unemployment.

Temple’s unemployment rate increased from 4.5 percent in May 2014 to 5 percent in June.

Killeen climbed to 6.7 percent from May’s 6.6 percent.

Copperas Cove increased from 6.0 percent in May to 6.5 percent in June. However, all three cities’ unemployment rates are below June 2013 rates.

Much of the data from the cities was mirrored at the county level. Bell, Coryell and Milam counties all saw increases in monthly jobless claims while also seeing reductions in the year-to-year unemployment rate.

Regional unemployment June 2014
Texas 5.5% 5.1% 6.9%
Killeen-Temple-Fort Hood 6.2% 5.9% 7.8%
College Station-Bryan 4.6% 3.9% 6.1%
Waco 5.6% 5.0% 6.9%

Read more at the Temple Daily Telegram.

For more employment links, see the Texas Workforce Commission and Killeen-Temple-Fort Hood Market Data Sources.

Houston: 455,000-SF Two WestLake Park sold for $130M 


HOUSTON - Hicks Ventures is buying the Two WestLake Park office building in the Energy Corridor for $130 million. The project, developed by Hines in 1982, is located at 580 Westlake Park Blvd., east of Hwy. 6, between I-10 and Memorial Dr.

The deal represents a $286 per sf price for the 455,000-sf property. The seller is KBS Realty.

The project is part of the business park that houses BP’s North American headquarters. BP leases 91,000 sf in the building and Conoco-Phillips leases 200,000 sf.

Read more at Realty News Report.

Trails at Katy 200-acre development to bring 300 homes 


KATY - Ventana Development is breaking ground this fall on a new 200-acre residential development — the Trails at Katy. The first homes are expected to be complete in late 2014 or early 2015. The location is at the future intersection of Cane Island Pkwy. and an extension of Kingsland Blvd.

The Trails of Katy will contain more than 300 new homes when complete. Pulte Homes, Westin Homes and Devon Street Homes are building the houses. Prices range from the low $300,000s, potentially reaching the $800,000s, said Jim Grover, vice president of Ventana.

Community amenities include hike-and-bike trails, a community center, swimming pool and tennis courts.

Grover said there will be approximately eight acres of developable commercial space when Cane Island is extended to connect with FM 1463.

The Trails of Katy will be adjacent to this space, providing residents with easy access to any retail and restaurants that may be built in that space.

Read more at Community Impact Newspaper.

PMRG: Dallas office market 2Q 2014 

(7/18/2014 7:00:00 AM)

DALLAS-FORT WORTH - DFW’s office market recorded 460,495 sf of direct net absorption during second quarter 2014, bringing the trailing 12-month total to 3.2 million sf. PM Realty Group released the report.

As overall occupancy rates have reached an 11-year high, numerous speculative construction projects have kicked off across the Metroplex, which will provide an abundance of new, high-quality space options for tenants as the local economy continues to expand at a healthy pace.

The office construction pipeline has skyrocketed by 309 percent within the past year to over 5.4 million sf under construction, with roughly 70 percent of the new space already preleased.

Largest Submarkets Ranked by Total SF
Submarket Inventory
SF (Total)
Direct SF
Occ. Under
Class A
Asking Rent
(per SF)
Class B
Asking Rent
(per SF)
Las Colinas 27,873,400 5,904,699 82.6% 782,009 $24.70 $19.43
Dallas CBD 27,430,142 8,731,406 72.6% 450,000 $22.49 $17.77
Quorum / Bent  Tree 18,944,792 3,643,738 82.9% 120,000 $24.82 $17.51
East LBJ        15,812,405 4,598,874 74.6% 0 $21.69 $17.05
Upper Tollway / West Plano 14,667,318 1,870,518 87.6% 746,816 $30.26 $24.36
Richardson 12,551,989 2,407,346 88.4% 1,500,000 $21.68 $17.49
Central Expy. 11,467,136 2,683,069 80.9% 149,510 $23.77 $18.96
Total* 218,295,796 45,844,093 81.9% 5,404,959 $24.32 $18.37

*Includes all DFW submarkets.

Source: PM Realty Group

Read more at PM Realty Group. For the full report and similar reports, see Office under DFW Market Data Sources.

Colliers: Houston industrial report 2Q 2014 

(7/18/2014 6:46:00 AM)

HOUSTON - Houston’s industrial market remains one of the healthiest U.S. industrial markets primarily due to the expansion in the oil and gas industry, according to Colliers International second quarter 2014 industrial report.

Leasing activity, which includes renewals, reached 3.3 million sf, almost 1 million sf less than seen in 1Q. New delivery totaled 2.6 million sf during 2Q, pushing 2014 year-to-date deliveries to 5.6 million sf. Additionally, 3.9 million sf of industrial space is currently under construction.

Houston Industrial Market 2Q 2014*
  Vacancy Net
Absorption (SF)
Submarket Rentable
Northwest Corridor 136,932,884 5,565,281 4.1% 284,086 774,031
North Corridor 79,662,123 6,382,940 8.0% 821,071 624,648
Southeast Corridor 78,727,192 5,803,190 7.4% -95,788 -70,379
Southwest Corridor 63,779,391 3,224,535 5.1% 259,871 76
CBD Corridor 55,589,901 2,939,035 5.3% 45,388 96,092
Southern Corridor 44,624,902 1,857,445 4.2% 221,969 436,023
Northeast Corridor 32,404,112 1,046,079 3.2% 47,328 -104,625
Greater Houston total 491,720,505 26,818,505 5.5% 1,583,925 1,755,866

*ranked by rentable area

Source: Colliers International

Click here to see the full 2Q report, including the previous quarter.

Don't forget Houston Market Data Sources for more sources.

Austin industrial 2Q 2014: REOC 

(7/18/2014 6:45:00 AM)

AUSTIN - The latest survey of more than 38 million sf of industrial lease space showed activity slowed in second quarter 2014. NAI REOC data closed 2Q with a citywide vacancy rate of 12.1 percent — up sharply compared to 10.6 percent in 1Q 2014.

Despite the increased vacancy, asking rental rates for area flex properties remained unchanged and currently range between $0.70 and $1.00 per sf per month.

The negative absorption generated from Dell’s move out of 300,000 sf at 13301 McCallen Pass building dragged the citywide market into the red with a total of 168,774 sf of negative absorption for 2Q 2014.

However, gains in 1Q 2014 reduced the overall setback, bringing the year-to date absorption to a loss to 86,367 sf.

Austin Industrial Market 2Q 2014
Sector Existing
Under Construction* Existing
Round Rock 2,498,932 12.5% 240,000 633,446 4.0% 22,000
North 10,067,522 11.3% 109,547 5,233,778 6.5% 0
Northeast 4,025,032 7.6% 0 3,016,576 34.8% 0
East 1,283,858 4.5% 0 0 0.0% 0
Southeast 4,882,511 10.0% 0 4,259,656 15.5% 0
South 1,945,884 10.8% 0 131,848 0.0% 0
Total 24,703,739 10.2% 349,547 13,305,304 15.6% 22,000

*Expected to deliver within six months

See REOC Austin's full report. For other commercial firms, see Industrial under Austin Market Data Sources.

Austin multifamily 2Q 2014: Hendricks-Berkadia 

(7/18/2014 6:34:00 AM)

AUSTIN - Rental demand jumped in second quarter 2014 with 2,950 newly occupied apartments, up from the 1,320 units absorbed in 1Q 2014. Recent leasing activity was more than double the quarterly average of 1,260 units absorbed since mid-2009.

In 2Q 2014, 2,520 multifamily units came online. Overall deliveries were up 85.2 percent from the 1,360 units added in 2Q 2013. Heightened leasing activity amid elevated deliveries resulted in a dip in vacancy to 4.7 percent.

Average asking rent was $1,063 per month in June, up 1.7 percent from March. Rents were up 3.8 percent from 2Q 2013.

Austin Multifamily 2Q 2014 / 2Q 2013
Comparison by Rent $1,000+
Submarkets* Vacancy Average Rent
2Q 2014 2Q 2013 2Q 2014 2Q 2013
Central 6.2% 5.0% $2,018 $2,021
Far Northwest 4.7% 4.4% $1,082 $1,036
Far South 4.2% 4.8% $1,118 $1,056
Hwy. 183/Cedar Park/Leander 5.0% 4.8% $1,001 $948
Near Northwest 3.9% 4.3% $1,034 $1,005
Near South Central 5.9% 3.6% $1,323 $1,328
Northwest Austin 5.8% 4.8% $1,115 $1,081
West 6.1% 6.3% $1,322 $1,237
Total** 4.7% 4.8% $1,063 $1,024

*Listed submarkets include those which have an average rent over $1,000.
**Total represents all 15 submarkets in the Austin area.

See the Center's free Austin Market Data Sources. Office, industrial, retail, multifamily data all in one spot.

In a hurry? Then see the latest at Austin NewsTalk Texas.

Houston: 202,596-SF midrise 2411 Washington sold 

(7/18/2014 6:33:00 AM)

HOUSTON - A 206-unit multifamily building, 2411 Washington, has been sold. The 202,596-sf midrise apartment building opened in 2013 and is located at 2411 Washington Ave.

The gated property offers one- and two-bedroom floor plans ranging in size from 585 sf to 1421 sf. Prices range from $1,500 to $2,715 per month.

The property features a breakfast/coffee concierge, cabana, clubhouse, fitness center, game room and pool. The property was 92 percent occupied at the time of the sale.

Goldman, Sachs & Co. acquired the building from M-M Properties.

Source: 2411 Washington

Read more at CoStar Group.

DFW apartment stats 2Q 2014: Hendricks-Berkadia 

(7/18/2014 6:30:00 AM)

DALLAS-FORT WORTH - Apartment demand was healthy in the first two quarters 2014, despite a 12.1 percent decrease in leasing activity compared to the first half 2013. Renters occupied 7,250 additional units since the beginning of 2014.

Asking rents advanced 2.4 percent year over year to $950 per month 2Q 2014.

Class A asking rents rose modestly, increasing 0.3 percent to $1,385 per month. Average rent at Class B/C communities appreciated 2.9 percent.

Through mid-2014, completions were 20.9 percent greater than in the first half of 2013. Builders delivered 6,200 apartments year to date, of which 3,330 apartments came online in second quarter. Deliveries averaged 8,610 units annually during the last five years.

DFW Multifamily 2Q 2014 / 2Q 2013 Comparison by Vacancy
Submarkets* Vacancy Average Rent
2Q 2014 2Q 2013 2Q 2014 2Q 2013
Ellis County 1.2% 4.4% $914 $858
Grand Prairie 3.6% 5.8% $760 $720
Far Northwest/Farmers Branch 3.9% 4.4% $895 $875
Garland 3.9% 4.2% $818 $778
Hunt County 4.0% 5.0% $677 $677
Hurst/Bedford/Euless 4.2% 4.6% $843 $822
Richardson 4.2% 4.1% $1,010 $974
Southeast Fort Worth 4.2% 4.1% $875 $832
Far North Dallas 4.4% 4.9% $915 $878
Plano/Allen/McKinney 4.6% 4.5% $1,056 $1,018
Northwest Fort Worth 4.6% 5.4% $1,085 $1,064
Market total** 5.3% 5.5% $950 $929

*Chart represents top 11 submarkets ranked by lowest vacancy.
**Total includes all submarkets within DFW.

View the full report at Hendricks-Berkadia. For more stats, see Multifamily under DFW Market Data Sources.

ABIA Airport passenger activity up 207,215 YTD 


AUSTIN - Passenger traffic at Austin-Bergstrom International Airport edged up in May over 2013. May year-to-date traffic of domestic and international showed an increase of 5.3 percent in total activity.

Austin-Bergstrom International Airport
Passenger Statistics
  May 2014 May 2013 May 2014
May 2013
Domestic enplaned 459,402 445,013 2,057,805 1,963,812
Domestic deplaned 447,709 440,861 2,046,989 1,965,388
International enplaned 8,429 1,948 23,367 6,941
International deplaned 7,441 1,837 22,854 7,659
Passenger total 922,981 889,659 4,151,015 3,943,800

Source: Austin-Bergstrom International Airport

National Powersport Auctions remains in Carrollton 


CARROLLTON - National Powersport Auctions (NPA) will remain in its current location after signing a lease renewal for 107,500 sf at 1809 W. Frankford Rd.

The Class A industrial building, named the Frankford Interchange, was built in 1997 on slightly more than 21 acres.

The 380,000-sf building has 59 loading docks, four grade-level doors and offers a 28-foot clear height.

Read more at CoStar Group.

Katy: Det Norske Veritas will expand lease to 137,000 SF 


KATY - Norway-based Det Norske Veritas (DNV), an international energy inspection company, reached an agreement with Chambers Street Properties to expand the property it leases at 22535 Colonial Pkwy. by 47,250 sf.

The two-story expansion to the existing 89,750 sf will increase the size of the existing office building to 137,000 sf. Additionally, a new four-story parking deck will be built adjacent to the building.

The capacity of the new facility will grow from 350 to 700 workers. DNV will consolidate its operations and move 300 employees to the Katy property.

Upon completion of the expansion, DNV’s lease will roll into a ten-year term for the entire property. Chambers Street will oversee the general contracting services for the expansion project, which is expected to be completed by summer 2015.

The expansion will be built to LEED Gold specifications and, like the existing property, will be ENERGY STAR certified.

Read more at CoStar Group and the Houston Business Journal.

Victoria Apartment MarketData stats: May 2014 


VICTORIA - Apartment MarketData Research Services LLC released May 2014 data. The multifamily market data represent three months trailing (March–May 2014).

As a rule these represent all properties except those that are leased but not occupied units.

Multihousing Market Condition Comparison
Victoria Texas
Units Occ. Rate Size Units Occ. Rate Size
< 1970 106 98.1% $0.719 965 134,614 96.5% $0.837 832
1970's 1,287 97.2% $0.801 835 385,921 95.7% $0.818 818
1980's 1,714 98.2% $0.865 756 489,131 97.0% $0.906 780
1990's 963 94.9% $0.730 954 225,076 97.6% $1.064 922
2000's 584 97.6% $0.808 919 365,322 97.4% $1.032 963
2010's 488 97.7% $1.246 935 62,245 97.3% $1.176 926
Totals 5,142 97.2% $0.850 853 1,662,309 96.8% $0.946 858

Rate: Rental Rate is the average market rate expressed as ($/SF/month).
Size: The average size of each unit expressed as (SF/unit).

Click to see May 2014 Victoria Multihousing full report, including historical data.

Source: Apartment MarketData Research Services LLC, San Antonio

Remember, this report and more data are available under Multifamily in Victoria Market Data Sources.

GTAR: Tyler region home sales June 2014 


TYLER - Greater Tyler Association of Realtors (GTAR) has released home sales data for June 2014. June's sales were the most ever for the month of June, beating the previous record of 386 sold in 2006.

The home inventory for the greater Tyler area was 9.3 months in June, up from 9.2 months in May and down from 10.8 months in June 2013.

Select region cities are represented below along with statistics from the GTAR MLS area as a whole.

Tyler Region Sales and Price Activity by Units Sold June 2014
MLS Wide Median Price
  June 2014
Price Chg.
June 2013
Units Sold
June 2014
Sales Chg.
June 2013
TYLER (single-family) $156,500 1.3% 403* 17.8%
TYLER (condo) $160,000 30.6% 2 -50.0%
Region Cities**        
Tyler $179,500 12.4% 125 11.6%
Flint $164,000 4.7% 25 4.2%
Lindale $155,000 1.3% 23 53.3%
Bullard $247,450 15.1% 18 -10.0%
Jacksonville $71,500 28.6% 16 0.0%
Chandler $163,000 -9.4% 15 66.7%
Whitehouse $164,000 -6.2% 15 0.0%

*Number of sales is of June 10, 2014 per Tyler Association of Realtors.
**Data include single-family only and represents four select region cities sorted by number of units sold.

Read more at the Greater Tyler Association of Realtors and at the Tyler Morning Telegraph.

What's driving Texas? Oil/gas manufacturing spurs jobs 


TEXAS - Industrial employment grew 2.5 percent in Texas from May 2013 to May 2014, marking the third straight year the Lone Star State gained manufacturing jobs, according to data from Manufacturers' News Inc.

Texas added 31,198 industrial jobs during that period, meaning the state is now home to 22,567 manufacturers employing more than 1.2 million workers.

The oil-and-gas extraction industry led Texas' industrial job growth with a 10.7 percent increase. With hiring driven by robust activity in the Eagle Ford Shale and Permian Basin energy basins, the industry now accounts for 133,448 jobs.

Industrial machinery and equipment — the state’s largest sector by employment with 186,490 jobs — grew 4.3 since May 2013. The fabricated metals sector grew jobs by 2.4 percent, bringing its total employment to 123,617.

Houston had the largest gain in manufacturing employment among Texas cities, adding 261,900 workers for a 4.7 increase this year.

Read more at the San Antonio Business Journal.

Georgetown home sales: June 2014 


GEORGETOWN - Real estate market data for the Georgetown Multiple Listing Service area by zip code have been released.

Georgetown Monthly Home Sales
Month Number of Sales Median Price
78626 78628 78633 78626 78628 78633
June 2014 52 69 72 $186,389 $310,000 $300,505
June 2013 33 55 66 $152,500 $258,000 $243,000
May 2014 54 58 46 $182,225 $304,070 $289,950
Apr. 2014 52 50 41 $178,000 $298,000 $258,000
Mar. 2014 41 41 56 $190,000 $309,309 $324,500
Feb. 2014 33 42 36 $159,900 $252,750 $257,200
Jan. 2014 20 30 37 $155,750 $214,500 $292,000
Dec. 2013 20 42 50 $156,500 $241,150 $279,750
Nov. 2013 34 42 57 $156,962 $254,950 $248,500

Zip Code Guide:

• 78626 East Georgetown
• 78628 West Georgetown
• 78633 Northwest/Lake Georgetown area

Read more at the Community Impact Newspaper. See page 25 in the July issue to find information quickly!

Arlington $16M Texas Rehabilitation Hospital going up 


ARLINGTON - Sanders Trust has started work on the $16 million, 48,000-sf Texas Rehabilitation Hospital just off of I-20 near The Parks at Arlington.

The 40-bed hospital will serve patients who require rehabilitation following a stroke, traumatic brain injury, spinal cord injury or similar medical conditions.

The medical building is set to open summer 2015.

Read more at the Dallas Morning News.

Dallas: 102-unit Aura on McKinney coming to Fitzhugh Ave. 


DALLAS - Trinsic Residential Group has completed its purchase of a key development site near Highland Park. The company purchased the former Hope Cottage building and parking lot at McKinney Ave. and Fitzhugh Ave.

The developer plans to build a six-story, 192-unit luxury rental community on the 1.7-acre site, which is just west of North Central Expressway.

Hope Cottage, Dallas’ oldest non-profit organization, sold the two-story commercial building and is relocating to a new office and family services building at the corner of Texas St. and Florence St., near downtown.

Read more at the Dallas Morning News.

302-Room Westin to set sale to The Woodlands Waterway 


THE WOODLANDS - The Westin will open its fifth hotel in the greater Houston area with The Westin, The Woodlands. It will open at the end of 2015 in Waterway Square. The 302-room hotel will feature 15,000 sf of meeting space.

The hotel will overlook The Woodlands Waterway.

Guests will be able to cross an adjacent pedestrian bridge spanning the waterway to access the performance stage at Waterway Square.

The hotel will be within walking distance to several corporate offices, the shops and restaurants in the Waterway Square District, The Woodlands Mall and Market Street, as well as the Cynthia Woods Mitchell Pavilion.

Read more at the Houston Business Journal.

State Farm doubles DFW employment base to 5,000 


DALLAS-FORT WORTH - State Farm has doubled its North Texas employment base to 5,000 in the past year and expects to hire 8,000 more when its regional hub opens up in Richardson.

The Bloomington, Illinois-based insurance company’s employees will span 2 million sf in four office towers at the $1.5 billion CityLine development.

State Farm has held numerous job fairs to recruit DFW employees.

State Farm plans to begin moving its employees into the new CityLine regional campus in early 2015.

Read more at the Dallas Business Journal and Dallas Morning News.

Pflugerville Falcon Pointe sales gain momentum 2014 


PFLUGERVILLE - New home sales were up 30 percent in the first half 2014 in the 700-acre master-planned community Falcon Pointe. Through June, 116 new homes were sold in the housing community, compared to 89 in the first six months 2013.

Falcon Pointe recently opened a model home village showcasing five model homes from Houston-based Chesmar Homes, Florida-based Lennar Corporation, Austin-based Centerra Homes and California-based Ryland Homes. The community's new homes are priced between $200,000 and $350,000.

Falcon Pointe's new south entrance will serve as a direct connection to the Texas 45 and Texas 130 toll roads, and to the Pflugerville Pkwy.

Newland Communities is also developing the Teravista community in Round Rock and Georgetown, and the Rancho Sienna community in Williamson County.

Read more at the Austin Business Journal.

Houston: 40 stories, 463 units, sky pool to downtown 

(7/16/2014 6:40:00 AM)

HOUSTON - Market Square Tower, a 40-story building housing 463 apartments, will be built just off Market Square Park at 777 Preston. Excavation work is expected to start by mid-August, and initial occupancy is slated for January 2017.

Typical units will range from 550-sf efficiencies to three-bedroom, three-bath spaces with around 1,950 sf. Rents will range from around $1,800 to $5,800 per month. There will be a limited number of larger penthouses as well.

A second-story deck will overlook Market Square Park and have palm trees, cabanas, a swimming pool and a hot tub. A spa with sauna, steam rooms and treatment rooms will be next to the pool.

"It's big," said Jack Lee, president of Oakmont Group, the project manager. "It's bigger than any other downtown Houston high-rise rental property we know of."

The wraparound rooftop amenities with panoramic views of the city skyline and Buffalo Bayou Park will include a gym, sundeck and "sky pool" that will be encased in glass and cantilever beyond the southern face of the building.

Woodbranch Investments Corp. is the developer of the project.

A ten-story garage that shares the tower's block will serve residents of the new building. The garage has 1,100 spaces now, but spaces will be reduced to about 950. About 150 spaces will be reserved for residents' guests and visitors of about 22,000 sf of retail space planned for the first floor.

Apartment construction has been on the rise downtown and in surrounding neighborhoods to the west where some 4,000 units are under construction, according to MPF Research.

Read more at the Houston Chronicle.

Hard Rock to diamond with One Dallas 20-story highrise 

(7/16/2014 6:30:00 AM)

DALLAS - Construction is set to begin next week on the 20-story building on the former site of the Hard Rock Cafe on McKinney Ave. at Routh St. The Class A One Dallas tower will contain about 200 apartments plus extensive retail on the first two floors.

The Uptown Dallas development will feature six levels of underground parking, charging stations for electric vehicles and rooftop pool.

Dallas’ Cheng Investments and Stoneleigh  Cos are building the project, which will host its groundbreaking on July 23.

The project is expected to be completed in March 2016. The One Dallas tower will be constructed across the street from where Gables Residential is building a Whole Foods Market with apartments built above the grocery store.

Read more at the Dallas Morning News.

Retail industry grows by 90,000 SF in Palmhurst 


PALMHURST, HIDALGO COUNTY - Turner Busby Development has broken ground on its 90,000-sf development, Palmhurst Village Center, adjacent to the new H-E-B property on Mile 3 Rd. and Conway Ave.

The center will be built at a cost of more than $20 million and divided into three separate pad sites.

A number of stores have committed to spots in the center, including: Ross, Rue 21, CATO, Shoe Show, AT&T wireless, WB Liquors and Aqua Dental.

The project is currently underway with completion scheduled for October 2014. Ross and the main tenants would move in during the first quarter 2015. The McDonalds, which is a stand alone restaurant, is expected to completed by August.

The new shopping center follows the opening of a Walmart Supercenter and an HEB Mercado.

Read more at the Mission Progress-Times.

Listen to Podcast 222 for this story and other Small Towns, Big Deals.

El Paso's Las Palmas Marketplace now in Canadian hands 


EL PASO - RioCan, a Canadian shopping center owner and operator, has taken over ownership and management of the 638,000-sf Las Palmas Marketplace located at I-10 and George Dieter in East El Paso.

RioCan bought out its two Las Palmas partners — Dunhill Partners, a Dallas shopping center operator and Kimco Realty, a real estate investment trust located in the New York City area.

RioCan paid $37 million and $32 million for Dunhill and Kimco’s interests, respectively, with both interests acquired at a capitalization rate of 6.4 percent.

In connection with the acquisitions, assumed Dunhill and Kimco’s share of the existing mortgages: $18 million from Dunhill and $15 million from Kimco, bearing interest at 5.40 percent and maturing in April 2022.

Las Palmas is anchored by a Kohl's department store, a Lowe's home improvement store, a 20-screen Cinemark movie theater, and a string of national chain restaurants. It has more than 40 stores and restaurants.

Read more at the El Paso Times and MarketWired.

Listen to Podcast 222 for this story under Small Towns, Big Deals.

Bonham tank car parts to 44,000-SF Kelso building 


BONHAM, FANNIN COUNTY - Kelso Technologies is a manufacturing company that makes equipment for railroad tank cars. The manufacturing plant has now opened its new job-creating addition to its facility.

A new 40,000-sf facility will accommodate 60 jobs at 1526 Texas Ave.

The cost of construction was estimated at $2.4 million. Kelso also left room on the west side of the building to eventually add 70,000 sf and 100 more jobs.

“This building will be mostly for assembly of the products. And we will be doing a lot of welding on the products too to fabricate them,” said CEO Neil Gambow said.

Kelso Technologies is a manufacturing company that makes equipment for railroad tank cars. The company formed in the 1980s in Canada, and is currently headquartered in Illinois.

Read more at the Herald Democrat.

Listen to Podcast 222 for more Small Towns, Big Deals.

Waco nuts over Snickers Peanut Butter Squared 


WACO - Mars will spend $11.7 million to give the Waco facility an upgrade that will include a $4 million enrobing machine that wraps food items in chocolate.

Waco’s plant opened in 1976. The first product it produced was Starburst, a fruit-flavored soft candy. Now, the plant is known for its Snickers production, churning out every product consumed except the snack-sized versions.

One hundred percent of all Snickers Peanut Butter Squared are made in Waco. Production began in October 2010.

The Waco facility, which employs 456, produces 1.5 million Peanut Butter Squared bars a day, 21.5 million a week and 304 million a year. That does not include the many other Snickers-branded products it produces.

Read more at the Waco Tribune-Herald.

Listen to Podcast 222 for this story and more.

Burleson Sam's Club opens 136,000 SF 


BURLESON - Sam’s Club has opened a 136,000-sf store at 600 N. Burleson Blvd.

The warehouse club a fresh bakery, tire and battery center, cafe and fuel station, as well as a host of other special members-only values. Members can also receive free vision and eye screenings or oven-ready dishes and groceries.

The store has 197 employees, 25 of which are new hires. Most of the employees are those who came from the now-closed Sam's Club on Campus Dr. in Fort Worth.

Read more at the Burleson Star.

Tyler: Olympus buys 256-unit The Woodlands 


TYLER - The Woodlands, a 256-unit apartment community, has been purchased by Olympus Property.

The property at 400 Old Grande Blvd. consists of one- and two-bedroom units, ranging from 566 sf to 946 sf. Rents range from $589 to $895.

WW Olympus Multifamily I has targeted Class A and B garden-style apartment communities that have both a strong cash flow and appreciation upside in growth markets.

Read more at PRNewswire.

​Solar energy firm, Alamo Colleges to train 270 workers 


SAN ANTONIO - Texas Workforce Commission officials have awarded a $382,796 skills development fund grant to Mission Solar Energy LLC and Alamo Colleges to train 270 workers for the solar industry.

Trainees will learn how to work as cell/module production operators, facilities maintenance technicians and production equipment maintenance technicians. Once they finish their training, they will earn an average hourly wage of $14.76.

As part of its long-term contract with CPS Energy, Mission Solar has agreed to invest $100 million locally and create at least 800 jobs in San Antonio.

Mission currently is building a solar-panel manufacturing facility at Brooks City-Base that will supply 400 of those new positions.

Read more at the San Antonio Business Journal.

Plano: Heartland leases 82,000 SF in Granite Park IV 


PLANO - Heartland Payment Systems Inc. has signed a lease for 81,675 sf for three floors in the newly completed 12-story office tower at the Sam Rayburn Tollway and the Dallas North Tollway.

Heartland will bring 375 employees to Granite Park IV from its current 6860 Dallas Pkwy. Plano location, which houses a corporate information technology department.

The Princeton, New Jersey-based company’s lease is the biggest lease to date at Granite Park IV office tower in northwest Plano.

Read more at the Dallas Business Journal and the Dallas Morning News.

Houston: 130,000-SF Long Point Plaza sold 


HOUSTON - Long Point Plaza Shopping Center, a 130,000-sf neighborhood center located at 8315 Long Point Rd., has been purchased.

The 54-year-old center was fully occupied at the time of sale. Built in 1960, the multitenant center is situated on 11.5 acres of which 7.99 acres were purchased.

The tenants at the center include New Flea Market, Spring Branch Discount Furniture, Taqueria Huarache Mexicano, All Texas Insurance Loans and more.

CND-Long Point LLC, an entity of David Weekley Homes, purchased the center from H T & Associates Inc.

Read more at O'Connor and Associates.

Dripping Springs: Deep Eddy to open 30,000-sf distillery 


DRIPPING SPRINGS - Austin-based distiller Deep Eddy Vodka will soon move into a 30,000-sf facility on US 290. The cost of construction is estimated at $2.1 million, according to state filings.

The five-acre tract will house an expanded distillery and a large event space. A state law passed in September 2013 allows owners of distilleries and breweries to sell their products directly to customers directly on site.

“I think there’s going to be a lot of tourists coming into Austin to visit that will come visit the Deep Eddy distillery,” said Deep Eddy co-founder Clayton Christopher.

He expects Deep Eddy will ship 100,000 cases — 12 bottles to a case — this year to liquor stores, restaurants and bars in Texas, Florida and Colorado, primarily. “Last year we beat our forecast by 30 percent. We’ll have over 100 percent growth again this year, and we should beat it by 20 to 40 percent,” Christopher said.

Read more at KXAN and the Austin Business Journal.

DFW home lots deliver highest point since 2008 

(7/15/2014 10:00:00 AM)

DALLAS-FORT WORTH - According to a report by Metrostudy, North Texas' new home lot deliveries exceeded the new home starts pace during second quarter 2014 for the first time since early 2008.

"Lot development activity has lagged new home starts in Dallas-Fort Worth since inventory hit a peak of over 90,000 lots in March 2008," David Brown, regional director of Metrostudy's Dallas office, reported.

"The most active submarkets in Dallas-Fort Worth that account for 75 percent of the new home demand only have a 14.6 month supply, which is well below the 20 to 24 months considered to be equilibrium," Brown added.

The demand for housing in the region increases as more and more companies expand and relocate into the DFW area.

In the DFW area, the median price of a new home rose 24 percent over the past three years to $269,400 in 2014 and 25 percent of new home closings in 2Q 2014 were under $200,000, which is a 40 percent increase since 2011.

Read more at the Dallas Business Journal.

Angleton's 400,000-SF 288 Industrial Park underway 

(7/15/2014 7:30:00 AM)

ANGLETON, BRAZORIA COUNTY - Angleton 288 Industrial Park, a 35-acre industrial park at Texas 288 and County Rd. 341, is underway. The initial phase consists of 18,000 sf and 24,000 sf of crane-ready manufacturing and distribution buildings.

Completion is planned for first quarter 2015.

The developers, 288 Industrial Park, plan to have about ten buildings that could total 400,000 sf when the park is completed. Commercial real estate firm JLL is marketing the project.

Buildings will be added most likely two at a time, as the first ones are leased up. Each building is designed so it could be expanded to suit a tenant's or buyer's needs. The buildings will be offered for lease or for sale, and land sites will also be marketed.

The City of Angleton has agreed to install utilities for the development. The utilities could open up opportunities for retail and other developments.

"The added infrastructure will launch the area to new businesses and potentially housing developments in the future," Angleton Mayor Randy Rhyne said in a statement announcing the deal. "For Angleton, this will be the initial project to push growth into the city."

The project is expected to attract service providers to the petrochemical industry as well as oil field service companies.

The project is about 20 miles from Freeport, where Dow is spending more than $4 billion to expand its petrochemical complex, and 11 miles from Lake Jackson, where Dow is building a campus to house 2,000 employees at its Texas Innovation Center for research and development.

Among the other companies expanding in the region are BASF, Chevron Phillips Chemical Co., Freeport LNG and Tenaris.

Read more at the Houston Chronicle.

Austin office occupancies, rents rise in 2Q 2014 

(7/15/2014 7:20:00 AM)

AUSTIN - The Austin-area office market remained on solid footing in second quarter 2014, with rents and occupancies for Class A space higher than 2Q 2013, according to Cushman & Wakefield  | Oxford Commercial.

The occupancy rate for top-tier office space in 2Q 2014 was 89.4 percent, up from 88.4 percent from 2Q 2013. Rent for that space averaged about $33 per sf in 2Q 2014, up 4 percent from just over $31 per sf a year ago.

White-collar job growth drives demand for office space, and the Austin area saw more than 31,000 new jobs created in the 12 months that ended in May, according to the Texas Workforce Commission.

About 1.6 million sf of new office space is expected to hit the market by the end of 2014, with that number expected to reach 2.5 million sf by the end of 2015.

Downtown is one of the region’s hottest sectors. Nearly 900,000 sf of new office space will be coming online in five downtown buildings within a year, and “surprisingly, almost 80 percent of this new supply has already been leased,” said Ryan Bohls, a vice president in Austin with JLL.

Much of that leasing activity is due to companies that are relatively new to Austin, including Athenahealth, Dropbox, Parsley Energy and Atlassian.

Read more at the Austin American-Statesman.

For more on the Austin office market, see Austin Market Data Sources.

Coppell: Duke 'puts up' 270,000-SF Point West VIII 

(7/15/2014 7:15:00 AM)

COPPELL - The 270,498-sf Point West VIII industrial building is being built in the Point West business park. The project, led by developer Duke Realty Corp., is located north of I-635 near Dallas-Fort Worth International Airport.

Duke has already leased 127,189 sf in the building. It is 47 percent preleased to Insight Merchandising.

Duke Realty's entire 15 million-sf Dallas portfolio is 97.7 percent occupied.

The Point West VIII building is scheduled to open early 2015.

Read more at the Dallas Morning News and Dallas Business Journal.

Waco: Cameron Heights homes to downtown 

(7/15/2014 7:00:00 AM)

WACO - Work has begun on an additional 24 units to give Cameron Heights total of 50 units. The rental homes will range in rent from $935 to $1,800 a month.

Cameron Heights is a residential neighborhood near downtown with 20 units designated for lease. The $6 million gated community exists between North Fourth St. and North Fifth St., stretching toward Waco Dr.

Preparation has started on Cottages at Cameron Heights, a new subdivision at Bosque Blvd. and North Fifth St.. The homes will be priced from $130,000 to $180,000, according to developer Steve Sorrells,

“Our intention is to build three speculative homes at a time, but we will pick up the pace if people begin to prepay for custom homes,” Sorrells said. Construction on the first three homes likely will begin in 60 to 90 days.

About 1,000 multifamily units have arisen in the downtown area in recent years, and they typically stay 95 to 98 percent occupied, said Chris McGowan, director of urban development for the Greater Waco Chamber of Commerce.

Read more at the Waco Tribune-Herald.

Texas school construction cost data 2007-2013 


TEXAS - The Texas Comptroller of Public Accounts has released a database containing construction data for public school campuses built between 2007 and 2013.

Since no single publicly accessible database contains all Texas public school construction data, the Comptroller’s office submitted a public information request to every Texas public school district and charter operator to gather data on schools built from 2007 through 2013.

The responses have been compiled into a School Construction Lookup Tool. The Comptroller’s plans to release an analysis of new school construction expenditures later this year.

Read more at Texas Transparency. For more on education and other sectors, see any MSA's Market Data Sources.

Sold: Dynamic Foods 220,000-SF facility in Lubbock 


LUBBOCK - A San Antonio company has finalized a deal to acquire Furr’s Fresh Buffet and Dynamic Foods out of bankruptcy.

Food Management Partners now owns 25 Furr’s restaurants across five states as well as the Dynamic Foods production and distribution facility in Lubbock.

The Lubbock facility employs 200 workers and with more than 220,000 sf of space — including 130,000 sf for food processing and 50,000 sf of frozen storage.

In time, all of the management functions for Furr’s will be absorbed into Food Management Partners’ corporate office in San Antonio.

Day-to-day management of Dynamic Foods will remain in Lubbock. That facility prepares and distributes multiples lines of fresh and frozen products for contract food service and grocery stores, as well as restaurants and retail establishments.

Read more at the San Antonio Business Journal.

Odessa: Weatherford begins $24M, 120,000-SF project 


ODESSA - Weatherford International recently began a $24 million, 120,000-sf construction project beside its facility on I-20.

Building permits show a more than $5 million facility, a roughly $2.3 million facility and a nearly $6.5 million facility at 710 S. Faudree Rd. Some other projects underway include a $550,000 truck wash, a $465,000 gun-load structure and a $150,000 guardhouse.

Weatherford has about 1,200 Permian Basin employees and are expected to hire up to 400 more in the coming years.

Read more at the Odessa American.

Hewitt: 151-unit Four Seasons sold 


HEWITT - Four Seasons, a 151-unit multifamily property located at 620 North Hewitt Dr., has been sold. Four Seasons features one- and two-bedroom floor plans with a swimming pool and an on-site leasing office and laundry facility.

The property has recently gone through an extensive interior upgrade program.

Source: Marcus & Millichap

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