NewsTalk Texas

Austin investor buys 91,000-SF Farmers Branch building 


FARMERS BRANCH - Capital Commercial Investments Inc. has acquired the 91,117-sf Two Hickory Centre at 1750 Valley View Ln., north of LBJ Fwy.

The Austin investor purchased the property from Los Angeles-based Cathay Bank.

The property is about 40 percent leased to tenants including Beazer Homes, Bartlett Cocke and Border Foods.

Read more at the Dallas Morning News.

Carenet to hire almost 200 in S.A. 


SAN ANTONIO - Carenet Healthcare Services is looking to expand its workforce. The San Antonio-based company, which provides 24-hour expert telemed support, plans to hire more than 180 additional personnel during the remainder of July and the month of August.

The seasonal work will be located at the company’s Northwest Side headquarters and at its Brooks City Base offices.

In 1988, Carenet launched as a patient care advocacy and navigation operation within the Christus Santa Rosa Hospital System. Now, the health care services company has a client roster representing more than 20 million members worldwide.

Read more at the San Antonio Business Journal.

Weitzman: Austin midyear 2014 retail report 


AUSTIN - The retail real estate market is growing tighter as population increases, but retail development remains spare. The market-wide occupancy rate is 95.6 percent, the highest since late 2004, according to the latest report by The Weitzman Group.

Rental rates are increasing as a result of the constricted marketplace. Now, Class A spaces command $30 per sf or more. The best locations are netting $40 per sf. Class B properties are commanding 5 percent average increases to between $18 and $25 per sf. Class C properties are generating rents of $14 to $18 per sf.

The midyear report indicates a critically low supply of Class A retail space, though about 30 small retail strip centers are opening or underway.

A few larger projects have debuted in the past six months, but they are largely big-box stores in Cedar Park, Elgin and Manor. A Walmart in Kyle will open later this year or in early 2015. Sam’s Club, the wholesale division of Walmart, will open a new store near Lakeline Mall in the far northwest Austin submarket this fall.

Read more at the Austin Business Journal.

Cotulla: 40,000-SF Valley Truck Center opens August 


COTULLA, LA SALLE COUNTY - Mack Trucks announced a new dealership scheduled to open in late August. The new 40,000-sf Valley Truck Center is located off Exit 67 on I-35, midway between San Antonio and Laredo.

The facility features 22 service bays and offers both new and used vehicles, parts delivery and road service.

The facility also features the world’s largest Mack Trucks sign, measuring in at 17 feet 2 inches tall and 29 feet 6 inches wide. The sign was recently installed in preparation for the grand opening.

Read more at The Trucker.

The Woodlands: 138,000-SF Nordstrom to mall 


THE WOODLANDS - Construction crews are starting the final stages of work on the Nordstrom store in The Woodlands Mall. Slated to open September 5, the two-level, 138,000-sf store will be the company's fourth store in the greater Houston area.

Currently, ceiling work is being completed, and crews are installing the tile flooring. Work is also beginning on landscaping around the exterior of the store, using indigenous plants.

The store will be in the space formerly occupied by Sears. There are positions for about 250 local employees.

There will be four to six other new shops opening next to Nordstrom. The mall recently announced that one of the boutiques will be Michael Kors and another will be Arhaus Furniture.

A new escalator will connect both floors in the retail wing surrounding Nordstrom. Additional parking spots have been added nearby.

Read more at the Houston Chronicle.

Houston: 194,000-SF Southway Shopping Center sold! 


HOUSTON - Southway Shopping Center, a 194,000-sf community center located at 8006 Gessner Dr. S., has been sold. The 38-year-old center is fully occupied.

Built in 1976, the center is situated on 16.5 acres. The tenants at the center include Academy Sports + Outdoors, Ross Dress For Less, Shoe Carnival, Best Buy and more.

ARC SWHOUTX001 LLC purchased the property from FP Southway LLC.

Read more at O'Connor and Associates.

Ravella to dazzle Kingwood with 264 units 


KINGWOOD - Ravella at Kingwood Apartment Homes, located at 25710 Loop 494, is underway. It will be a two- and three-story Class A multifamily community.

It will be situated within the 24-acre master-planned Village at Northpark, an upscale retail center that includes the largest Kroger in Texas as well as many other shops and restaurants.

The community will occupy just under 13 acres of land. It will include 264 one-, two- and three-bedroom units (including two-story townhomes with attached garages), ranging in size from 709 to 1,689 sf.

Amenities include a 10,000-sf clubhouse featuring a 24-hour fitness club, a pool with poolside cabanas and fire pits, conference room, business center, latte lounge and game rooms. There will also be an on-site bike repair and storage shop.

Stanmore Partners is developing the project. This is the company's first multifamily development.

Read more at Your Houston News.

Houston multifamily 2Q 2014: Hendricks-Berkadia 

(7/29/2014 7:01:00 AM)

HOUSTON - As hiring accelerated in the last six months, so did leasing activity with 10,650 newly occupied apartments. Rental demand was up from the 10,170 units absorbed during the same time period last year.

The Houston inventory expanded by 4,300 new apartments in the last three months. Deliveries were up 65.6 percent from the first quarter.

Heightened leasing activity pushed vacancy down 60 basis points to 5.3 percent in the second quarter. Operators advanced rents 1.6 percent in the last three months to $1,037 per month by June. The average asking rent increased 4.1 percent since mid-2013.

Houston Multifamily 2Q 2014 / 2Q 2013
Comparison by Rent $1,000+
Submarkets* Vacancy Average Rent
2Q 2014 2Q 2013 2Q 2014 2Q 2013
Bear Creek/Katy 3.7% 3.9% $1,061 $1,010
Braeswood/Bellaire 5.1% 3.9% $1,309 $1,269
Brazoria County 3.7% 5.4% $1,136 $1,063
Briar Forest/Ashford 4.2% 5.2% $1,000 $939
Briar Grove/Westchase 4.6% 4.6% $1,082 $1,021
Far NW/Montgomery County 5.2% 4.4% $1,093 $1,048
Fort Bend County 4.3% 4.0% $1,113 $1,054
Galveston County 5.4% 5.6% $1,001 $952
Montrose/River Oaks 4.6% 3.9% $1,712 $1,668
North/Northeast Houston 5.5% 5.8% $1,203 $1,138
Total** 5.3% 5.7% $1,037 $996

*Listed submarkets include those which have an average rent over $1,000 in 2Q 2014.
**Total represents all 26 submarkets in the Houston area.

Register for free at Hendricks-Berkadia to see the full story.

See the Center's free Houston Market Data Sources for office, industrial, retail, multifamily data and more!

SABOR: area home sales by units sold June 2014 

(7/29/2014 7:00:00 AM)

SAN ANTONIO - San Antonio Board of Realtors (SABOR) released home sales data for June 2014. Some quick facts include:

•  The median price of existing single-family homes increased to $179,500, up 2.6 percent vs. May 2014.
•  Existing single-family home sales increased 0.3 percent from May 2014 for a June 2014 total of 2,038 sold units.
•  Condos decreased in price to $97,500, down 18.1 percent vs. May 2014.
•  Existing condo sales decreased 14.7 percent in June 2014 over May 2014 for a total of 64 sold units.

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

SABOR 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
$179,500 5.7% 2,038 -0.9%
SABOR (condo) $97,500 16.1% 64 25.5%
Region Cities*  
San Antonio $168,000 5.0% 1,375 -4.3%
New Braunfels $227,000 21.1% 84 1.2%
Boerne $336,250 6.6% 70 6.1%
Cibolo $183,400 6.0% 61 27.1%
Schertz $181,450 4.6% 54 50.0%
Converse $128,500 12.7% 40 5.3%
Helotes $245,000 -7.5% 30 -43.4%
Canyon Lake $185,000 -2.6% 27 0.0%

*Region Cities' data include single-family only and represents eight select cities sorted by number of units sold.

See Housing under San Antonio Market Data Sources or see full reports from San Antonio Board of Realtors.

Buda, Kyle, San Marcos Real Estate Report 

(7/29/2014 6:59:00 AM)

BUDA, KYLE, SAN MARCOS - Community Impact has released the July Real Estate Report — compiling single-family home sales from May 1, 2013 through April 30, 2014.

Real Estate Report provides information on home sales based on city and by price range. It also includes a homebuyers’s guide, providing basic information on the documents and process involved in buying a home.

Real Estate Report May 2013–April 2014
  Avg. Sale
Avg. Price
Avg. Bed
Total #
Buda $274,781 $99.08 4/2+ 69 559
Kyle $230,310 $103.03 4/2 61 796
San Marcos $185,627 $101.98 3/2 118 311

Click here for the July 2014 story.

Source: Community Impact Newspaper July 2014 (page 16)

Belton-Central Texas Apartment MarketData May 2014 


BELTON-CENTRAL TEXAS - 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 March–May 2014
Belton-Central Texas Texas
Units Occ. Rate Size Units Occ. Rate Size
< 1970 1,182 87.6% $0.756 691 134,614 96.5% $0.837 832
1970's 4,777 91.5% $0.686 786 385,921 95.7% $0.818 818
1980's 4,660 92.8% $0.858 771 489,131 97.0% $0.906 780
1990's 1,320 93.0% $0.921 873 225,076 97.6% $1.064 922
2000's 1,913 93.4% $0.859 915 365,322 97.4% $1.032 963
2010's 762 95.8% $0.927 930 62,245 97.3% $1.176 926
Totals 14,614 92.2% $0.807 806 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 the May 2014 Belton-Temple-Killeen report, including previous data.

Source: Apartment MarketData Research Services LLC, San Antonio

Remember, this report and other data are available under Multifamily in Killeen-Temple-Fort Hood Market Data Sources.

Beaumont Apartment MarketData stats: May 2014 


BEAUMONT - 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.

Multihousing Market Condition Comparison March–May 2014
Beaumont Texas
Units Occ. Rate Size Units Occ. Rate Size
< 1970 2,304 97.4% $0.782 810 134,614 96.5% $0.837 832
1970's 4,758 95.0% $0.756 838 385,921 95.7% $0.818 818
1980's 4,562 97.6% $0.844 762 489,131 97.0% $0.906 780
1990's 1,732 96.3% $0.758 871 225,076 97.6% $1.064 922
2000's 4,381 97.6% $0.878 924 365,322 97.4% $1.032 963
2010's 831 97.7% $0.707 924 62,245 97.3% $1.176 926
Totals 18,568 96.8% $0.808 843 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).

Source: Apartment MarketData Research Services LLC, San Antonio

See the full report and remember other data are available under Multifamily in Beaumont-Port Arthur Market Data Sources.

DFW midyear 2014 retail report: Weitzman 


DALLAS-FORT WORTH - The Weitzman Group and Cencor Realty Services have released their midyear retail report highlighting DFW’s 90.5 percent occupancy rate.

The occupancy rate is a notable improvement compared with midyear 2013, when the market reported 89.3 percent.

In terms of construction, grocery stores dominate new projects. Only a few projects have non-grocery anchors. Approximately 40 new traditional and specialty grocery store locations are opening in 2014 and 2015 across the Metroplex.

The new space in the market is opening basically fully leased. Based on projects opening or scheduled for completion by year-end, the DFW retail market is on track to add approximately 1.9 million sf of new retail space during 2014.

That job and population growth has captured the attention of retailers, restaurants, service merchants and medical users. As a result, the majority of Class A retail centers have occupancies in the 95 percent or better range.

Read more at The Weitzman Group and Cencor Realty Services.

Costco ID's Dallas site for 146,000-SF store 


DALLAS - Costco has identified a site to build a 146,000-sf store just south of LBJ Fwy. and west of North Central Expy., near Coit Rd.

The Seattle-based warehouse club has stores all around North Texas, but this would be the first in the City of Dallas.

Recently it has opened stores in Duncanville, Fort Worth, Arlington, Southlake, Lewisville, West and East Plano, Frisco and Rockwall.

Costco stores generate twice the sales of an average Sam’s Club.

Read more at the Dallas Morning News.

DFW: office construction pipeline increases 309 percent 


DALLAS-FORT WORTH - The office sector for the Dallas-Fort Worth area has experienced a construction pipeline increase of 309 percent, according to the second quarter 2014 market report by PM Realty Group.

DFW has increased to more than 5.4 million sf under development, with nearly 70 percent of the space already preleased. During 2Q 2014, more than 1 million sf of new construction entered the market.

DFW’s office market recorded 460,495 sf of direct net absorption during 2Q 2014, bringing the 12-month total to 3.2 million sf.

Due to the strong leasing demand, occupancy levels have climbed to an 11-year high and asking rents have risen to their highest level since 2008.

The current pace of job growth is expected to continue throughout 2014 and forecasted to improve significantly for 2015, according to Kurt Cherry, PM Realty Group’s EVP.

Read more at GlobeSt.

New Jersey tech firm calls 1,200 to new Allen HQ 


ALLEN - CVE Technology Group Inc. has moved its headquarters to Allen where it plans to employ 1,200 people in a 196,000-sf building at Enterprise Business Park.

The New Jersey tech firm currently has about 300 workers occupying 40 percent of the building at 915 Enterprise Blvd. The building is being used by the tech firm as offices and a service center.

CVE plans to have 600 workers in the facility by the end of this year and 1,200 by the end of 2015.

CVE, an after-market service provider for cellular handsets and consumer electronics, moved from Riverdale, N.J., to the DFW region because it "is the epicenter of cell phone growth and activity," according to CVE Vice President Ruben Alvarado.

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

Galveston: 284-unit Island Bay Resorts sold 


GALVESTON - The Island Bay Resorts, a 284-unit, Class B community located at 7400 Jones Dr., has been purchased.

The 39-year-old community is 69 percent occupied with average rents at $0.97 per sf. The community features one- and two-bedroom floor plans ranging in size from 300 sf to 1,030 sf.

Property amenities include laundry rooms, playground and swimming pools.

Blue Valley Apartments Inc. sold the property to 2014 Galveston Jones Drive LLC.

Read more at O'Connor and Associates.

Katy: King Crossing adding 864 homes 


KATY - King Crossing, a new master-planned community, is underway. The community is located on Stockdick School Rd. near Katy-Hockley Cutoff. The 320-acre site will bring 864 new single-family homes to the area when complete.

King Crossing is a joint venture of Beazer Homes and Pulte Homes. Floor plans range from 1,400 to 4,000 sf. Homes will be priced from the upper $100,000s to $300,000s.

The first homes are expected to be ready for sale in spring 2015.

Planned amenities include a 3.15-acre recreational center with a playground and pool, pocket parks and lakes. Students living in Kings Crossing will be zoned to Katy High School.

Read more at Community Impact Newspaper.

Austin: 119,000-SF Plaza on the Lake changes hands 


AUSTIN - Plaza on the Lake, a 119,464-sf office building, has changed hands. The 1987 built structure is located at 5000 Plaza on the Lake.

The building is 100 percent leased. Tenants, according to the Travis Central Appraisal District, include Amherst Securities Group, Experian, Omni Surgical LP and Bluepoint Games Inc.

New York-based Clarion Partners purchased the office building from Austin-based Endeavor Real Estate Group.

Clarion Partners now owns about 3.8 million sf in Austin. The firm recently purchased two other office buildings and the retail building occupied by Whole Foods Market in The Domain mixed-use project in North Austin.

Read more at the Austin Business Journal.

Bryan's Atlas plans for 177-room boutique Atlas Hotel 


COLLEGE STATION-BRYAN - The Atlas Hotel, a four-star, 177-room boutique hotel, is being developed in the Atlas master-planned community. The hotel will sit at the corner of Traditions Dr. and Health Science Center Pkwy., across from Lake Atlas.

Designed by FAB Studio, the Atlas Hotel will include a restaurant and bar, wellness spa, ballroom, meeting rooms and an outdoor, rooftop living room with a water feature and a view of Kyle Field.

Construction on the hotel is expected to begin in early 2015 and be completed by the summer of 2016.

The 200-acre mixed-use Atlas community is an extension of Traditions that will expand out of Bryan's west side and into College Station.

Included in the development are the Caliber Biotherapeutics plant, the GlaxoSmithKline influenza vaccine facility and Woodbolt International.

Early concept plans include tripling the number of existing single-family and multifamily homes, and adding restaurants and retail options aimed at pharmaceutical manufacturing and biotech professionals.

A high-end senior living community with 154 independent living, assisted living and memory care units is also in the works for the Atlas/Traditions community.

Read more at The Eagle.

Austin office 2Q 2014: REOC 


AUSTIN - New leases and expansions generated 306,517 sf of positive net absorption in second quarter 2014. This raised the year-to-date total gain to nearly 636,000 sf, according to the survey of more than 41.7 million sf of Austin-area office lease space.

In response, the citywide vacancy rate tightened to 9.7 percent compared with 10.5 percent in 1Q 2014 and 12.3 percent recorded in 2Q 2013.

At the end of June, the citywide average quoted rental rate climbed to $26.32 per sf per year, which is up $0.14 over 1Q 2014 and $1.52 compared with 2Q 2013 for a dynamic annual increase of more than 6 percent.

Austin 2Q 2014 Office Report
Submarket Total
Vacant SF
Vacant Avg. Quoted
Rent Rate
CBD 8,355,282 823,650 9.9% $36.15
Central 2,234,316 263,649 11.8% $24.87
North 914,248 178,895 19.6% $18.10
Northwest 12,906,400 1,042,433 8.1% $26.76
Far Northwest 3,534,537 398,063 11.3% $23.08
Northeast 1,855,269 232,011 12.5% $17.22
South 1,533,096 61,676 4.0% $24.28
Southeast 1,070,401 127,707 11.9% $19.78
Southwest 8,413,165 769,961 9.2% $28.63
Round Rock 886,519 131,410 14.8% $21.05
Totals 41,703,233 4,029,455 9.7% $26.32

Source: REOC Austin.

Click here to see the full 2Q report.

For more stats, look under Office in Austin Market Data Sources.

Encore Wire growing McKinney operations with $30M investment 


MCKINNEY - Encore Wire Corp. will spend more than $30 million to expand its McKinney plant to a 450,000-sf facility.

Along with more than doubling its size, Encore plans to hire 125 people through the expansion.

Encore has been in business since 1989, has grown from 12 to almost 1,200 workers. 

The plant expansion is scheduled for completion by the end of 2015.

Read more at the Dallas Morning News.

United Supermarkets headed to Brownwood 


BROWNWOOD, BROWN COUNTY - United Supermarkets are set to break ground on a 42,648-sf supermarket and a 1,472-sf convenience store.

The stores are expected to bring 140-160 new jobs to Brownwood, with an estimated payroll of $1.35 million per year. They will sit on a ten-acre site, with the supermarket at 300 E. Commerce and the United Express to be located near the corner of Commerce and Riverside Park Dr.

Construction on the two stores will begin in August, with opening targeted for June 2015.

Read more at KTAB TV.

Class B, 36,000-SF office building sold in Houston 


HOUSTON - A 36,000-sf, Class B building located at 5990 Airline Dr. has been sold. The property was built in 1989 and is situated on 3.6 acres. The 25-year-old property was fully occupied at the time of sale.

The tenants at the property include Airline Immunization Clinic, Grocery Services, Cypresswood Clinic Associates, R. Glenn Morris DDS Inc. and more.

Airline Partners Ltd. sold the building to 5990 Airline Investments LLC.

Read more at O'Connor and Associates.

Fort Worth's downtown Ashton Hotel sold, upgrades planned 


FORT WORTH - The Ashton Hotel, a 39-unit historic boutique hotel in downtown, has been sold.

Located at 610 Main St., the hotel first opened in 1890 (two-story) and 1915 (six-story). Following a complete renovation, the hotel reopened in 2001. Then, in 2008, another $1 million in upgrades were done.

Ashton Hotel Partners sold the property to Ashford Hospitality Trust, a Dallas-based hotel REIT, which plans additional renovations.

Read more at Realty News Report.

Texas oil drilling falls in June, production still rising 


TEXAS - Drilling activity for the state fell in June 2014 compared with the previous year, according to data released by the Texas Railroad Commission.

The state’s oil and gas regulator reported 1,739 new oil wells were drilled in June, a 5 percent drop from a year ago.

Although drilling slowed, oil production continues to grow with average May 2014 production of 2.1 million barrels a day, up from 1.7 million in June 2013.

Almost 618 million Mcf of natural gas was produced in May 2014, an 11 percent increase over the last 12 months.

Read more at the Dallas Morning News.

Dripping Springs: Morrison buys 100 acres for 204 homes 


DRIPPING SPRINGS - Taylor Morrison Home Corp. has purchased 100 acres for another new home community, Founders Ridge, within the city limits of Dripping Springs.

About 204 homes will be built. Home sizes will range from 2,200 sf to 3,700 sf. Prices have yet to be determined.

Morrison bought the land south of Dripping Springs Elementary School on RR 12 from Austin-based Norwood Investments. Development is expected to begin this fall with residents occupying new homes in summer 2015.

In addition to Founders Ridge, Taylor Morrison is building several communities in the Austin area: Travisso and Crystal Falls in Leander, Vizcaya in Round Rock, Ladera in Bee Cave, Rough Hollow in Lakeway, Steiner Ranch near the Mansfield Dam and Sweetwater near Spicewood.

Read more at the Austin Business Journal.

Austin: 143,000-SF elementary school's transformation 


AUSTIN - Jaime D. Padron Elementary School — located in a retrofitted campus that was once the site of a warehouse — will open in August, Principal Rafael Soriano said.

Formerly known as North Central Elementary School No. 2, the Austin ISD school is one of a few facilities constructed as part of the district’s $343.7 million 2008 bond program.

The 7.6-acre campus will include a 143,000-sf school with 57 classrooms. The school features large classrooms, colored hallways and three playground areas, as well as a basketball court, track and picnic tables. Teachers will be using new technology in the classroom.

Principal Soriano noted students attending the school will mostly come from Wooldridge and Cook elementary schools, both of which are over capacity and have several portable classrooms on campus.

The facility also features a 245-kilowatt solar array on the roof that will be tied into the main electrical service for the campus.

Read more at Community Impact Newspaper.

Victoria's 120-unit Point Royale sold 


VICTORIA - Point Royale Apartment Homes, a 120-unit apartment complex has been sold. Built in 2012, the property is located at 4106 North John Stockbauer Dr.

Apartments at Point Royale feature one-, two- and three-bedroom floor plans with rates ranging from $950 to $1,350. Amenities include covered parking, outdoor kitchen, resident clubhouse and business center.

Source: Marcus and Millichap

Rio Grande Valley residential, commercial permits May 2014 


RIO GRANDE VALLEY - The Rio Grande Valley Partnership has released the May 2014 Business Barometer including building permit statistics.

Rio Grande Valley Residential/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

Forbes: Austin No. 2 in U.S. for future job growth 


AUSTIN - Austin ranked second in Forbes' list of best U.S. cities for future job growth over the next three years and was one of five Texas cities to make the cut.

With projected annual job growth of 4.1 percent and the unemployment rate at 4.1 percent, Austin is proving to be an attractive option for companies that want to take advantage of the strong local workforce.

The Lone Star capital boasts the third-highest net migration rate in the U.S. during the past five years, Forbes reported. The median household income is $58,932.

Other Texas cities that made it to Forbes' list of best cities for job growth include: McAllen at No. 3, Dallas at No. 5, Houston at No. 9 and San Antonio at No. 10. Naples, Florida ranked No. 1.

Read more at the Austin Business Journal.

See Forbes for the full report.

Texas tops U.S. in new home sales 


TEXAS - According to a new report by Metrostudy Inc., builders have sold 33,177 new houses in Texas for the 12-month period ending June 2014. This ranks Texas first in the United States for new home sales.

Florida was second with 19,416 sales followed by California at 14,280 sales.

Dallas-Fort Worth new home sales were up about 7 percent in second quarter 2014. For the first six months of 2014, new home sales in the area were up about 10 percent from 2013.

Read more at the Dallas Morning News.

Charles Schwab to bring 823 jobs to Austin 


AUSTIN - Governor Rick Perry’s office has announced a deal with Charles Schwab to bring 823 tech jobs to North Austin.

The tech workers, who would be paid an average wage of $79,602, would be added over ten years to the firm’s existing Austin workforce of almost 1,000 employees.

Schwab also has committed to making $196 million in capital investments, including construction of a 200,000- to 300,000-sf office on a 50-acre site at IBM’s Tivoli Software campus, which is across Burnet Rd. from the Domain.

Gov. Perry’s commitment of $5.95 million from the Texas Enterprise Fund to Schwab is just the latest deal-closing incentive used to lure businesses to the Lone Star State.

Schwab also is opening a call center in El Paso as part of its Texas expansion. The state is providing $1.45 million for the El Paso project, which will create 445 jobs and $21.5 million in capital investment over the next ten years.

Read more at the Austin American-Statesman.

For more on Gov. Perry’s recent use of the Texas Enterprise Fund, see previous story Texas $62M woo companies; $68M leftover.

Plano-based firm looking to hire 400 companywide 


PLANO - Tyler Technologies Inc. expects to hire almost 400 people this year, including about 95 in Plano.

The company, which contracts exclusively with the public sector, added about 50 positions in Plano during first half 2014, which were part of 162 positions added companywide.

About 225 more new positions are expected to be added by Tyler Technologies for second half 2014. Of these 225, 45 will be hired in Plano and will be mainly software engineering and project manager positions.

Tyler Technologies was also looking to add positions in Lubbock, Georgia and Maine.

The company recently reported second quarter 2014 net income of $14.7 million and revenue of $124.4 million.

Read more at the Dallas Morning News.

PSW Homes thinks small, urban housing in older Dallas 


DALLAS - An Austin-based home builder that’s expanding to the Dallas area is kicking off construction on its first five projects.

PSW Homes is building new communities which will focus on being smaller, more affordable homes in older Dallas neighborhoods.

PSW is building two neighborhoods in North Oak Cliff and two more near White Rock Lake.

The home builder has a building site in North Dallas.

PSW’s single-family homes will range in size from 1,700 to 2,700 sf and have three and four bedrooms. Prices start near $350,000 and rise to over $500,000.

Read more at the Dallas Morning News.

$225M buy includes seven Texas senior living communities 


TEXAS - Orlando-based CNL Healthcare Properties has acquired seven senior housing communities in Texas and one in Illinois from developer South Bay Partners, Ltd., for $187.2 million.

It is also expanding through a ninth community that will be developed through a joint venture between CNL and South Bay Partners.

The Texas facilities include:
•  Watercrest at Mansfield — Mansfield
•  Isle at Watercrest — Mansfield
•  Watercrest at Bryan — Bryan
•  Watercrest — Bryan
•  Isle at Cedar Ridge — Cedar Ridge
•  Legacy Ranch Alzheimer’s Special Care Center — Midland
•  The Springs Alzheimer’s Special Care Center — San Angelo

CNL will also develop a $38.2 million independent living community in Katy through a joint venture with South Bay Partners. Through the acquisitions and development, the REIT is investing a total of $225 million in the sector.

Read more at Senior Housing News.

U-Haul grabs 40,000-SF storage facility in Copperas Cove 


COPPERAS COVE - U-Haul International Inc. has purchased Mountainside Self Storage, located at 1091 W. Hwy. 190.

The storage facility encompasses 39,731 sf of storage space across 441 units. Build in 1997, the property spans nearly four acres and has frontage on Hwy. 190.

Established in 1945, U-Haul International Inc. has more than 40 million sf of storage space at more than 1,000 owned and managed facilities throughout North America.

Read more at Inside Self Storage.

Houston: Whole Foods opening 45,000-SF store 


HOUSTON - Whole Foods Market will open a 45,000-sf store in the Westchase Shopping Center on Westheimer Rd. near Wilcrest.

The store will go into the space that has been occupied by Randalls, which said late last year it would not renew its lease.

The Randalls lease is up this month, but Whole Foods will not open until 2016. Whole Foods has an existing store across Wilcrest.

Read more at the Houston Chronicle.

Underway: 100,000-SF Pearland Medical Plaza 2 


PEARLAND - Pearland Medical Plaza 2, a 100,000-sf medical office development located on the campus of Memorial Hermann Pearland Medical Plaza, is underway.

The four-story facility at 10907 Memorial Hermann Dr. is 35 percent preleased to Hermann Memorial Healthcare Systems, which will occupy 35,000 sf for outpatient programs.

The new medical building joins a medical campus that includes a convenient care center, which is 100 percent occupied, and a 64-bed hospital development, scheduled to break ground in July.

Delivery of Pearland Medical Plaza 2 is expected April 2015. The project is owned and being developed by HCP.

Read more at CoStar Group.

Class B Kirkwood Atrium trades in Houston Energy Corridor  


HOUSTON - Kirkwood Atrium Office Park, two Class B, multitenant office buildings, has been acquired by Dornin Investment Group. The four and five story buildings contain 54,319 sf and 68,396 sf respectively for a total of approximately 122,715 rentable sf.

The property is located at 11777 Katy Fwy. on the south side of I-10 in the Energy Corridor. Completed in 1979, the property is situated on 3.73 acres and includes a surface parking lot containing 360 spaces, of which 56 spaces are covered reserved.

The buildings were 83 percent occupied at the time of sale which provides immediate upside potential through the lease-up of vacant space. In addition, average in-place rents for Kirkwood Atrium Office Park are approximately $17.75 per sf while average rental rates for Class B buildings in this submarket are over $25.00 per sf.

“Within a week of closing we have already increased the occupancy to 88 percent at rents significantly greater than the average in place rents,” said Chris Dornin, CEO of Dornin Investment Group

The buildings were purchased in an off-market transaction. This is Dornin Group’s third off-market office acquisition in Houston in the last nine months.

Read more at GlobeSt.

The Retreat at Conroe's 210 units change hands 


CONROE - The Retreat at Conroe, a 210-unit Class A multifamily community, has been sold. The luxury community, at 2951 North Loop 336 W., was completed in 2013.

The community features one-, two- and three-bedroom units ranging in size from 593 sf to 1,344 sf. It is 97 percent occupied.

Community amenities include a cyber Starbucks café, sports lounge and multimedia center, health and wellness center, pool with beach entry and aqua sunning deck, and available private garages and storage units.

Each apartment home features granite countertops in the kitchen and baths, a stainless appliance package and Roman soaking tubs.

FSC Realty LLC purchased the property from The Retreat at Country Club Park LLC.

Read more at GlobeSt.

Buc-ee's breaks ground on 60,000-SF Temple station 


TEMPLE - Buc-ee’s recently broke ground on its 60,000-sf Temple location, situated on 17 acres at the southeast corner of north Loop 363 and I-35.

“We recently started construction and it normally takes about 10 months to build one of our stores,” Buc-ee’s general counsel Jeff Nadalo said. “The Temple store should open sometime in the second quarter of 2015.”

The $16 million service station will be Buc-ee’s 30th store, and the first located north of Austin. The store will provide 150 jobs with hourly pay for most employees starting at $11.50.

Read more at the Temple Daily Telegram.

Sold: Days Inn San Angelo 


SAN ANGELO - Marcus & Millichap has arranged the sale of the 113-room Days Inn San Angelo. Days Inn San Angelo is located at 4613 S. Jackson St.

The hotel is accessible by Loop 306 and U.S. Highways 87 and 277. The property was built in 1983.

Read more at Texas Real Estate Business.

Investors buy 621 acres in Katy 


KATY - John S. Beeson, John Stephen Ford Sr. and Steven A. Webster have purchased 621 acres about six miles north of I-10 and four miles west of the Grand Pkwy. The property is bordered by FM 529, Katy Hockley Rd., Beckendorff Rd. and Pitts Rd.

"It's in the Katy ISD, which is very important," said John Beeson of Beeson Properties. "We'll probably hold it for a year and sell it to somebody to develop for house lots."

Builders in the Houston area sold 25,627 new houses last year, an 18 percent rise over 2012, according to housing consulting firm Metrostudy. Builders are on target to construct 30,000 houses this year.

"We're the strongest housing market in the country," said Scott Davis, Houston regional director of Metrostudy. "We've got demand for 35,000 in the market. It's going to take 18 months to get there. We don't have enough lots at prices people can afford in markets where they want to buy."

The property is next to about 3,600 acres just west of the Grand Pkwy., along FM 529 where Newland Communities is planning its next development.

Read more at the Houston Chronicle.

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.

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