NewsTalk Texas

HARKER HEIGHTS - Verna Lee Townhomes are the newest addition to the Harker Heights housing market.

Flintrock Custom Homes has developed four of 16 planned homes adjacent to Verna Lee Blvd. and Ashwood St. Builders will construct the next four after selling the existing ones. Prices for the two-story, 1,570-sf homes range from $128,500 to $138,000.

The Verna Lee Townhouses are the first townhomes to be built in the city in more than 20 years.

Read more at the Killeen Daily Herald.

ABILENE - Abilene Realtors sold 173 homes in April 2013, 25 more than what was sold in April 2012. The average home price was $140,747, nearly $16,000 more compared to April 2012.

The median sales price in April 2013 of $124,500 is more than $13,000 from last year. Sales totaled $24,349,235 in April 2013. Most homes sold in April from $100,000 to $119,000.

Of the 173 homes, 36 buyers paid in cash, 56 used conventional loans, 46 FHA financing, 30 VA and five under owner and other financing.

Abilene had 5.6 months of inventory in first quarter 2013, according to the Texas Association of Realtors.

Read more at the Abilene Reporter-News.

FORT BLISS - With Fort Bliss experiencing explosive growth over the course of the past seven years, the base has opened its new $15.5 million Aquatics Training Center at 20733 Constitution.

This 50,000-sf has doubled the number of pools operated by Family and Morale, Welfare and Recreation from three to six. The indoor facility contains an Olympic-size pool, a multipurpose pool and a diving pool.

The new center's main emphasis will be on soldier training, but the three pools can easily be converted and used for recreation. The facility is open to all military ID cardholders, including active-duty military, retired military, family members and civilian employees at the installation.

The new Aquatics Training Center is across the street from the Soldier Activity Center and its outdoor pool and Soto Gym, creating a physical fitness and recreation zone to serve soldiers and their families.

Read more at the El Paso Times.

BRENHAM, WASHINGTON COUNTY - H-E-B held a grand reopening of its 81,000-sf Brenham store. Located at 2508 South Day St., the renovation cost $8.3 million, according to city records.

Some of the new and expanded features include: a full-service meat market, a full-service seafood department, a produce department, a full-service deli, a bakery and in-store tortilleria, a pharmacy with a new convenient drive-up window, an expanded floral department

The H-E-B has a doubled dairy department with the largest ice cream set in the company.

H-E-B, with sales of more than $19.4 billion, operates more than 350 stores in Texas and Mexico. H-E-B celebrated its 105 anniversary in 2010. Based in San Antonio, H-E-B employs more than 80,000 partners and serves millions of customers in more than 150 communities.

Read more at The Eagle.

Listen to Podcast 172 for this story...and more!

ROCKWALL - Construction is underway on the seven-story Trend Tower at 100 Sunset Ridge Dr. The tower is the first phase of a $250 million commercial and residential project called “Harbor Heights” on the hill above The Harbor.

Developed by Heath-based Sterling One Properties, the corporate tower will provide 100,000 sf of office and retail space along with meeting rooms and a restaurant available to the public overlooking the Dallas skyline.

Construction costs for the tower are estimated at $10 million, with a scheduled completion of November 2013. High-end restaurants and a medical tower are expected to follow soon.

Trend HR will be the anchor of the office tower, which is expected to be just the first of several office towers to be built in Harbor Heights.

Read more at Pegasus News.

FLOWER MOUND, ARGYLE- Developers broke ground on a 1,200-acre community called Canyon Falls.

The project will be located both in Flower Mound and neighboring Argyle and is located along FM 1171 east of I-35W. With the shortage of home building lots in North Texas, developers are rushing to get new subdivisions underway.

Conn.-based Wheelock Street Capital purchased the land from an affiliate of Highland Capital Management.

About 1,750 single-family homes, apartments, shopping and commercial space will be developed on the property.

Home sales are set to start in about a year, with prices from around $250,000 to more than $400,000. Manna Land will develop the project for the owners.

Read more at The Dallas Morning News.

Listen to Podcast 172 for this story...and more!

COLLEGE STATION - Six months since beginning renovations on the Texas A&M golf course, landscapers are nearly finished installing the new irrigation system and are smoothing out the soil in preparation for grass.

"If you think of it in four stages, we're just starting stage 4," Sterling Golf CEO Rene Rengal said. "We'll be planting grass within the next two weeks."

The university partnered with Aggie-owned Sterling Golf last fall to manage the multimillion dollar renovation that includes a redesign of the 18-hole course, a brand new driving range and the replacement of the irrigation system that dated to 1973.

The project was estimated to cost $5 million, but the project is expected to end up below budget with a projected cost down to $3.5 million. The course is expected to open in late September, but that could change if it doesn't rain enough throughout the summer.

Read more at The Eagle and NewsTalk Texas.

SAN ANTONIO - Walmart has announced plans for its newest SuperCenter in Southwest San Antonio. A 180,000-sf SuperCenter is set to debut at the intersection of Loop 410 and Ray Ellison in early 2014.

The store will bring approximately 300 new jobs to the city.

This announcement marks one of many Walmarts to enter the San Antonio market. Others stores include:

• Foster Rd. and Binz Engleman, Northeast Side — $7.5 million in construction costs, as reported in May 2013;
• Leslie and Bandera roads, Helotes — as reported in April 2013;
• Woodlawn and Bandera roads, West Side — 2013 completion date; and
• Wurzbach Pkwy. and Blanco Rd., North Central Side — 2014 completion date.

Read more at the San Antonio Business Journal and NewsTalk Texas.

DENTON - The 360,000-sf Target Distribution Center recently opened on 50 acres at 3255 Airport Rd.

The facility is one of only four food distribution centers for Target Corp. It ships more than 5,500 different types of grocery products to 235 stores throughout Texas, Arkansas, Kansas, Louisiana, Mississippi, Oklahoma and Tennessee.-

The center employs 140 people with a median age of 40 years old. The median household income of employees is $64,000 and 57 percent have completed college.

The total volume of the building is 19.9 million cubic feet, big enough to fit 3,856 semitrailers. The facility also has enough space to hold over 150 million gallons of water.

Read more at the Denton Record-Chronicle and NewsTalk Texas.

SAN ANTONIO, ROUND ROCK - Elco Landmark Residential has partnered with DeBartolo Development LLC to purchase four garden-style multifamily properties located in San Antonio and Round Rock for a combined purchase price of approximately $44 million.

Collectively, the portfolio consists of 771 units and is 95 percent occupied.

The portfolio includes:

• San Antonio — Landmark at Atrium Commons (formerly Huebner Country) — 8727 Huebner Rd., 256 units constructed in 1983;
• San Antonio — Landmark at Stratton Park (formerly Hampton North) —12324 Starcrest Dr., 127 units constructed in 1985;
• Round Rock — Landmark at Amelia Ridge (formerly The Gables of Round Rock) — 1500 Lawnmont Dr., 188 units constructed in 1985;
• Round Rock — Landmark at Auburn Manor (formerly Vista Ridge) — 1200 South Mays St., 200 units constructed in 1984.

Read more at Business Wire.

SAN ANTONIO - The rail service at the first phase of National Property Holdings’ 400-acre Alamo Junction Rail Park is set to begin in third quarter 2013.

The purpose of the business park, situated just south of San Antonio, is to provide rail-served commercial real estate to oilfield service and supply companies requiring rail logistics service.

The first phase calls for more than 22,000 linear feet of track, which would accommodate manifest and unit train traffic. Rail service will be operated by Rail Logix and will ultimately interchange with both the Union Pacific and Burlington Northern Santa Fe railroads.

Rail Logix, an affiliate of National Property Holdings, also has operations in the 300-acre Port Crossing Commerce Center logistics park in LaPorte and the 723-acre Rail Logix Ameriport in Baytown.

Read more at GlobeSt.com.

SAN ANTONIO - USAA Real Estate Co. and Patrinely Group is set to break ground on WestRidge, a master-planned office development located on La Cantera Pkwy. The 42-acre property is planned for four office buildings, each consisting of approximately 128,700 sf of Class A office space.

WestRidge One will be the first four-story office building, with construction slated to begin in fourth quarter 2013. The building is designed for LEED Silver certification.

USAA Real Estate Co. is the master developer and owner of La Cantera. Other La Cantera developments include The Westin La Cantera Resort, The Shops at La Cantera and currently under development, The Residences at La Cantera.

Source: USAA Real Estate Co.

SAN ANTONIO - The Eagle Ford Shale is attracting a cadre of oil-and-gas players to San Antonio. A leading beneficiary of that activity is the city’s industrial real estate market.

At the end of first quarter 2013, the industrial sector was sitting at a vacancy rate of 9.1 percent — down from 11.9 percent a year ago, according to NAI REOC. That figure is the lowest for this real estate sector, since late 2002.

Examples of the increased industrial activity include the 1.2 million-sf Amazon.com Fulfillment Center Recent underway in the Verde Enterprise Business Park on the far Northeast Side.

Meanwhile, on the city’s Southwest Side, a 518,000-sf Glazer’s Inc. project and a 500,000-sf Maruchan facility are nearing completion.

During 1Q 2013, EastGroup Properties broke ground on a 66,170-sf facility, the third building in the firm’s Thousand Oaks Business Center, located at 3660 Thousand Oaks in North Central San Antonio. The first two buildings comprise more than 109,000 sf in the park.

Read more at the San Antonio Business Journal.

For more on San Antonio’s Industrial Market, check out Market Data Sources for lots of sources.

GALVESTON - Royal Caribbean cruise line's Navigator of the Seas will launch year-round cruises from the island next year, extending its winter and spring sailing.

The 3,114-passenger cruise ship is set to undergo extensive renovations in February 2014, adding a surf simulator and dining venues.

Galveston's economy took a hit when Carnival officials announced that the Carnival Triumph would be out until mid-June.

Port officials are planning $8 million to $10 million in improvements at the terminal that will serve the Navigator of the Seas. In 2001, the Port of Galveston completed $12 million in improvements to a second terminal for Carnival Cruise Lines.

The last Royal Caribbean cruise ship to sail year-round out of Galveston was the Rhapsody of the Seas, based on the island from November 2001 to September 2007.

Read more at the Beaumont Enterprise.

Listen to Podcast 172 for this story...and more!

RICHWOOD, BRAZORIA COUNTY - Development in Richwood continues at a bristling pace, with the focal point of growth at the intersection of FM 2004 and Hwy. 288-B.

Single-family housing is the major area of development, and the city is working on tax abatements for apartment homes.

• Audubon Woods Three will add more than 60 new houses in the subdivision.
• Brazos Crossing has three building permits for new houses to go in, with two others under construction.
• Oakwood Shores, a 900-acre, 338-lot subdivision, has six houses under construction.
• A 400-unit apartment complex also is in the design stage for FM 2004 and Highway 288-B.

The city’s population has reached about 5,100 people, a milestone that allowed a change in city government status from general law to home rule. The charter lets city officials control what goes on the newly annexed land and how structures are built via building codes and subdivision regulations.

The new city hall is expected to help to attract people. The building, under construction along Hwy. 288-B, will house city administrative offices, the police department and municipal court. The building is 12,000 sf compared to the current city hall, which is 3,400 sf.

Read more at The Brazosport Facts.

SAN ANTONIO - The San Antonio industrial market demonstrated a strong start in 2013 to continue the momentum that was apparent through the end of last year. According to the survey of more than 32 million sf of area industrial properties, new leases and expansions inked in first quarter generated 318,855 sf of positive net absorption.

As a result, the citywide vacancy rate tightened to 9.1 percent compared to 9.9 percent last quarter and 10.9 percent recorded in the same quarter of last year.

*Submarket maps are available in the report.

Read more at NAI REOC San Antonio.

HOUSTON - The Houston Association of Realtors (HAR) has released home sales data for April 2013.

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

*Data includes single-family only and represents ten select cities sorted by number of units sold.

More data is available at Houston Association of Realtors.

SAN ANTONIO - First quarter 2013 saw San Antonio’s multifamily occupancy increase .04 percent to reach 92.4 percent, according to Austin Investor Interests. Rents were a bit more aggressive, gaining $.02 per sf, or 1.8 percent, to reach an overall average of $.96 per sf.

If rental rates continue the pace set over the last year, experts expect the market to see them average $1.00 per sf by the end of 2013, as new construction pushes prices up and healthy occupancy keeps concessions (currently offered in 53 percent of properties at a loss of 2.1 percent) down.

There are currently over 8,000 units still under construction, while an additional 3,400 are anticipated to start during next quarter. Here are some quick facts from the San Antonio multifamily market:

• Average occupancy — 92.43 percent;
• Average rent — $792;
• Average SF — 828;
• Average rent/SF — $.96;
• New units added (conventional) — 1,093; and
• Average sales price/unit — $60,000.
   

Source: Austin Investor Interests

AUSTIN - Multifamily occupancy in Austin rose .22 percent during first quarter 2013 to reach 95.1 percent, according to Austin Investor Interests. Rental rates were up 2.3 percent, bringing the current average to $1.12 per sf. Absorption figures recovered as well, with 1,093 more units occupied.

Currently, there are over 16,400 units already under construction throughout the Austin area.

While the first quarter saw the addition of 1,101 new units, developers anticipate adding approximately 9,300 new units over the next 12 months. Here are some quick facts from the Austin multifamily market:

• Average occupancy — 95.1 percent;
• Average rent — $958;
• Average SF — 851;
• Average rent/SF — $1.12;
• New units added (conventional) — 1,101; and
• Average sales price/unit — $76,794.
   

Source: Austin Investor Interests

COLLEGE STATION-BRYAN - Another hotel building boom is on the horizon in Bryan and College Station — four hotels are under construction and more could be on the way. Between 350 and 400 more rooms are expected to be added within the next 18 months as the following four hotels open:

Home2Suites — 300 Texas Ave., College Station;
Hilton Garden Inn — 3000 Plaza Centre Court, Bryan;
Staybridge Suites — University Dr. at Forest Dr., College Station; and
Value Place Hotel — 620 N. Earl Rudder Fwy., Bryan.

The four-story, 68,972-sf Staybridge Suites has construction costs estimated at $5.6 million, according to state filings.

The Bryan-College Station (BCS) Convention and Visitors Bureau says Texas A&M's switch to the SEC and the Johnny Manziel Heisman hype are bringing more visitors to the area. The typically slow months of January and February have been record-breaking months in 2013.

There are currently around 3,400 hotel and motel rooms in the BCS area.

For more stats, see the hotel category under College Station-Bryan Market Data Sources.

Read more at KBTX.