NewsTalk Texas

Exclusive: $100M retail project headed to Fort Worth 

(5/27/2015 11:00:00 AM)

FORT WORTH - An Irving-based developer plans to begin work on a $100 million retail-anchored development after snapping up 22 acres of land in the growing north Fort Worth market.

The development firm, Victory Real Estate Group, plans to bring hundreds of thousands of square feet to the region at Heritage Trace Parkway and I-35W, stated Tony Ramji, the firm's president and CEO.

"We are talking to two 100,000-sf-plus users for that site," Ramji said. "We have potentially three junior box retailers and intend to have about 70,000 sf of retail with some medical center.”

Ramji is scheduled to close on the acreage by mid-June.

The growth of residential homes along the I-35W corridor in north Fort Worth will help support the new retail development, including Hillwood Communities' $1 billion, 1,150-acre master-planned development called Harvest.

Read more at the Dallas Business Journal.

DFW Market Research, DFW Retail NewsTalk

GDC Technics shifts 162 jobs out of Alamo City to Alliance 

(5/27/2015 10:15:00 AM)

SAN ANTONIO - GDC Technics plans to move part of its operations from San Antonio to Fort Worth. This move will cost the Alamo City 162 jobs.

GDC Technics, an aerospace company specializing in aircraft modifications, has its headquarters at Port San Antonio where it occupies 340,000 sf.

According to Melissa Trevino, director of human resources, GDC anticipates “a substantial number of employees will accept a transfer,” which would reduce the number of people who are laid off.

Read more at the San Antonio Business Journal.

More background in Fort Worth? Read GDC lands 778,000 SF to modify aircraft for VIPs at Alliance.

San Antonio Market Research, Dallas-Fort Worth Industrial NewsTalk

Euless's Southgate Plaza's new tenant: DFW Airport HQ 

(5/27/2015 10:00:00 AM)

EULESS - Euless is now home to Dallas-Fort Worth Airport’s administrative headquarters, which also means the city is getting a new hotel catering to business travelers, along with several restaurants.

Employees have been moving into the three-story 154,000-sf energy-efficient building, which will house many who were scattered among ten buildings on airport property.

John Terrell, director of development for the airport, described how the headquarters is anchoring the 32-acre mixed-use Southgate Plaza development, which will include a 137-room Hyatt Place Hotel, an Einstein Bros. Bagels, other restaurants and a U.S. post office that is relocating from the west side of the airport.

“It is a matter of pride that the facility is in our city,” said Assistant City Manager Chris Barker. “We have so many of our citizens employed by the airport, by the airlines or by other businesses associated with the airport.”

Read more at the Fort Worth Star-Telegram.

Odessa new home: residential, dining facility UTPB 

(5/27/2015 9:30:00 AM)

ODESSA - The University of Texas of the Permian Basin officials and students broke ground on a new three-story residence and dining hall project across from the Science and Technology Building.

Total cost for the 120,842-sf building is $39.3 million with funding from Revenue Financing System Bond Proceeds.

The facility will include 312 beds and a two-story dining hall and kitchen wing.

The dining hall will serve about 750 students and can seat 375. Completion is expected in late July 2016 and the opening is planned for fall 2016.

In fall 2016, the university will add football, creating more need for housing.

More about this story at the Odessa American

Killeen: 6,000 call veterans cemetery a final resting place 

(5/27/2015 7:00:00 AM)

KILLEEN - Killeen has biggest, busiest veterans cemetery in Texas. About 60 veterans or their dependents are buried at the Central Texas State Veterans Cemetery in Killeen every month.

While one $5 million expansion project just wrapped up, planning and discussion for another similar expansion will likely begin in January.

Opened in January 2006 after Fort Hood donated 174 acres for the project, the Killeen cemetery was the first of four state-funded cemeteries to be built and run by the Veterans Land Board.

The cemetery in Killeen “is our flagship cemetery,” said Eric Brown, deputy director of Texas State Veterans Cemetery Program. “That’s our busiest cemetery.”

The other state veterans cemeteries are in Mission, Abilene and Corpus Christi. Of the 10,000 veterans and dependents buried in the four state cemeteries, the Killeen location accounts for just over 6,000.

As part of the recent expansion project, 4,000 burial crypts were added, along with new capstones on the columbaria and new turf and landscape features, such as bushes and trees.

“The initial phase of development included 7,620 gravesites on 31 acres,” according to the release. “The cemetery will eventually be capable of providing a final resting place to more than 50,000 veterans and their family members.”

Of the 174 acres owned by the cemetery, 143 are undeveloped.

Despite the growth, Brown said the cemetery should be able to keep up with demand until the cemetery reaches its capacity of 50,000 interments, which it could reach in the next 40 to 50 years.

“Cemeteries grow; they don’t get smaller,” Brown said.

Read more at the Killeen Daily Herald.

Abilene Red Raiders ride to TTU Health Science Center 

(5/27/2015)

ABILENE - Construction will soon begin on a 40,000-sf Health Science Center at the Texas Tech campus in Abilene.

The facility will include a student union for the public health, nursing and pharmacy school students already on campus.

The new center will accommodate up to 200 students.

The School of Public Health plans to enroll its first ten students this fall. They will work out of the School of Pharmacy until the Public Health campus is finished for fall 2016.

Texas Tech will offer a Masters of Public Health in one of five specialties with plans to eventually offer a doctorate degree.

Read more at KTXS TV.

Galveston: Texas port reels in $3B economic impact 

(5/27/2015)

GALVESTON - The Port of Galveston is the 4th busiest cruise port and ranks 40th in total tonnage in the U.S. Port Ranking, according to the latest data from 2014.

Associated by the public as port terminal for cruises, it has historically handled containerized cargo, dry and liquid bulk, break-bulk, roll-on/roll-off cargo, and refrigerated and project cargo.

Galveston Wharves is a 45 feet deep and 1,200 feet wide channel located at the mouth of Galveston Bay along the Upper Texas Coast in Galveston County.

Handling 13,700,000 tons Port of Galveston brings a $3.06B annual economic impact producing 3,326 direct jobs and 3,794 induced jobs.

Top commodities include wind power equipment, agricultural equipment, machinery, vehicles and fertilizer products.

Commodities arriving at the port are often destined for Galveston County, Harris County, Fort Bend County, Brazoria County, the state of Texas, as well as Texas’ neighboring states and the United States Midwest region.

See Texas Port Profiles (PDF) for the full report.

Look under Infrastructure in Houston Market Research for free data!

UTPA green lights $70M project in Edinburg 

(5/27/2015)

EDINBURG - The University of Texas-Pan American, soon to be UT Rio Grande Valley, received the final green light to build what officials say will be the most modern building in the entire UT System.

The UT Board of Regents approved funding for a $70 million addition to UTPA’s science building located east of the library. At a recent board meeting, college officials presented the project’s final plans and received approval to move on with them.

The four-story, 115,000-sf addition will complete a 272,000-sf building dedicated to research and education in STEM fields — Science, Technology, Engineering and Mathematics.

The entire building will house 16 research labs, four teaching labs, 11 workstations, and 42 faculty offices.

Research in this building will focus on biomedical sciences, biology and some chemistry, while the teaching labs will focus on physics and geology, said Sadiq Shah, vice provost for research and sponsored projects at UTPA.

More about this story at the Valley Morning Star.

At Home's doorstep to 108,000 SF in Fort Worth 

(5/27/2015)

FORT WORTH - Plano-based home-decor retailer At Home plans to open its first local store in 15 years at 2201 Porter Creek Dr. It’s also stepping up its product mix after its recent conversion from Garden Ridge.

At Home is building a 108,000-sf store opening this fall.

The company has 88 stores in 24 states and plans to add 19 new stores by year’s end, said spokeswoman Stacey Sullivan. With this batch of stores, At Home will open stores for the first time in Iowa, Louisiana, New Mexico, Utah and Wisconsin.

The home superstore carries 50,000 items with a big seasonal business at Christmas, and boasts that it has the largest selection of artificial trees.

Read more at the Dallas Morning News.

No-ads! DFW Market Research and DFW retail NewsTalk

Houston: Amstar's 35-acre Beltway North Commerce Center sold 

(5/27/2015)

HOUSTON - Amstar's 352,680-sf Beltway North Commerce Center, a Class A industrial project in Houston, has been sold.

The property, with 1,200 feet of frontage, is located at 971 North Sam Houston Pkwy. E., immediately south of George Bush Intercontinental Airport in one of the healthiest industrial submarkets in the country.

Read more at PRNewswire.

Brownsville: safest metro in Texas 

(5/27/2015)

BROWNSVILLE - The Brownsville Metropolitan Statistical Area has been recognized as the safest metro in the State of Texas, according to The FBI Uniform Crime Report for 2013.

From 2008 to 2012, the Brownsville MSA has experienced a 39 percent decrease in violent crimes, making it one of the safest metros not only in Texas, but also in the U.S.

Last year, Brownsville became one of ten cities in the U.S. and the only city in Texas to receive the All-America City award given by the National Civic League.

The award recognizes communities for successfully addressing pressing challenges such as housing, government innovation, job development, educational improvement and neighborhood revitalization.

Recent investments in Brownsville, valued at over $600 million, include 'SpaceX’ construction of the world’s first vertical rocket launch site.

Other important projects in Brownsville include Hunt Consolidated investing $200 million in infrastructure enhancements, and the Broe Group development of a 1,200-acre industrial park adjacent to the Port of Brownsville.

See the full "Brownsville “Recalculating Route” Spring 2015 (PDF) report.

For free data, see Brownsville Market Research and NewsTalk Brownsville.

Howard Energy stretches 'Webb' pipeline across borders 

(5/27/2015)

WEBB COUNTY - A subsidiary of San Antonio-based Howard Energy Partners has obtained a federal permit to build a cross-border pipeline.

The Federal Energy Regulatory Commission (FERC) has issued a presidential permit to Impulsora Pipeline LLC to build a cross-border natural gas pipeline linking a rural area of Webb County, Texas to Colombia, Nuevo Leon.

In an order issued on May 14, 2015, the FERC authorized the Howard Energy Partners subsidiary to build the export facility and ordered that it be completed within one year.

The pipeline will be built in a rural area of Webb County between the World Trade Bridge and the Colombia-Solidarity International Bridge.

Howard Energy Partners is now soliciting non-binding indications of interest from natural gas shippers to access the company's hub and cross-border pipeline.

Know the area? See the map here. Read more at the San Antonio Business Journal.

Austin: sales up, price up; time to build? 

(5/27/2015)

AUSTIN - Good news for home builders in Austin and maybe for the economy as a whole as sales of new homes increased nearly 7 percent in April to a seasonally adjusted annual rate of 517,000, according to the U.S. Census Bureau.

While it is still a below-average rate historically, it is up 26 percent compared with April 2014. The median sales price for a new home rose to $297,300 in April, up from $285,500 in March 2015.

This supply shortage, plus higher home prices, could spur demand for more home construction.

Read more at the Austin Business Journal.

Ector County home sales 2015 

(5/27/2015)

ODESSA - The number of home sales, days on the market and sales volume in Ector County from January 2015 through March 2015 have been posted by the Odessa Board of Realtors.


Ector County Home Sales 2015
Month # of
Sales
Sales
Volume
DOM*
Mar. 91 $18,205,774 58
Feb. 64 $11,056,684 54
Jan. 63 $10,040,640 54
 

*Days on Market

Denton: Texan city destined to grow 

(5/27/2015)

DENTON - The latest estimates from the U.S. Census Bureau indicate that the staggering growth of small and medium-size cities across the Dallas region shows no sign of slowing; Denton is no stranger to growth.

With the University of North Texas, Texas Woman’s University, burgeoning public schools and large corporate businesses making their home here, the city’s population continues to expand.

The U.S. Census shows Denton’s estimated 2013 population climbing to 123,099 residents, a 7.8 percent increase from 2010.

Denton County’s growth shows a much larger jump with the 2013 population ballooning to 753,363, a 13.7 percent increase from 2010.

In a quarterly report for Denton ISD released in February 2014, Templeton Demographics and Metrostudy show the number of households in the Denton school district swelled from 47,811 in 2010 to 52,288 in 2014.

The city is not alone in experiencing growth. Outlying towns in Denton County have also experienced a significant increase in residents.

Texas also had five of the top ten cities in population gain, and six of the 13 fastest growing by percentage — San Marcos, Georgetown, Frisco, Conroe, McKinney and New Braunfels.

Read more at the Denton Record-Chronicle.

Teleperformance U.S. calls 400 jobs in Killeen 

(5/27/2015)

KILLEEN - Teleperformance, the global leader in outsourced multi-channel customer experience management, announced that it is expanding its Killeen facility located at 777 N. Twin Creek Dr.

The Killeen facility supports several major global clients and currently employs more than 1,000 people.

The new hiring is to support the growth of an existing client and will create 400 new jobs in the Killeen area.

To read more about this story, visit PRWeb.

Egypt Land Co. buys 11 acres in Magnolia 

(5/27/2015)

MAGNOLIA - Egypt Land Developments has purchased 11 acres at the northeast corner of Research Forest Dr. and Egypt Lane in Magnolia for mixed-use retail, medical and commercial development.

“This 11-acre site of prime land purchased contains approximately 1,600 feet of street frontage which will eventually be developed into a high quality, Class A development for users who desire use of prime locations near The Woodlands,” Brent Everson of Everson Developments said.

Read more at Houston Chronicle.

Preston Stonebrook in Frisco flows to “sold”  

(5/27/2015)

FRISCO - Venture Investment Partners has purchased Preston Stonebrook — a 58,594-sf retail center located on the southwest corner of Preston Rd. and Stonebrook Pkwy. — from Dunhill Partners.

Tenants in the fully leased project include Hallmark, Le Peep, PrimaCare, Republic Title and Taco Bell.

The new investment group also recently bought Hulen Fashion Center, a 181,620-sf specialty center in Fort Worth.

The acquisitions of Preston Stonebrook and Hulen Fashion Center are the first of many more to come throughout DFW and the state of Texas, Venture’s Bo Brownlee said in a statement.

Read more at the Dallas Morning News.

Beep, beep! move over for San Antonio airport traffic 

(5/27/2015)

SAN ANTONIO - San Antonio International Airport has released passenger traffic statistics for February 2015.

San Antonio International Airport Statistics
  February
Passengers 2015 2014 Chg.
Domestic Enplanements 264,024 265,330 -0.49%
Domestic Deplanements 271,346 273,337 -0.73%
Total Domestic Passengers 535,370 538,667 -0.61%
InternationaI Enplanements 13,759 13,277 3.63%
International Deplanements 13,137 11,770 11.61%
Total International Passengers 26,896 25,047 7.38%
Grand Total all Passengers 562,266 563,714 -0.26%


Source: San Antonio International Airport

See the full San Antonio International Activity Report Feb. 2015, including previous months.

Flying from San Antonio? See nonstop flights and 'catch your plane.'

San Antonio Raceway speeds into action with new owner 

(5/27/2015)

MARION, GUADALUPE COUNTY - Roughly three months after filing for bankruptcy, San Antonio Raceway is back in business with new ownership.

Ian Grae, who owns and operates Cycle Ranch Events Center in Floresville, has assumed control of San Antonio Raceway.

The facility, located off I-10 in Marion, seats approximately 20,000 spectators.

“San Antonio is a major city and deserves a high-caliber raceway,” said Grae. “If its doors remained closed, it would have left our market without another track within 100 miles, leaving fans of this sport empty handed. I didn’t want that to happen.”

Planned renovations include upgrades to seating and concession areas.

Read more at the San Antonio Business Journal.

San Antonio: Rendina reels in 64,000-SF MOB 

(5/27/2015)

SAN ANTONIO - Rendina Healthcare Real Estate has acquired Physicians Plaza II, a 63,905-sf medical office building on the campus of the Methodist Specialty & Transplant Hospital (MSTH).

The facility is located within the 900-acre South Texas Medical Center.

Rendina’s immediate plans for the property include suite and common area renovations.

Read more from Texas Real Estate Business.

The List: Austin top 25 residential developments 

(5/26/2015 7:00:00 AM)

AUSTIN - The List of the top 25 residential developments tracks neighborhoods by number of housing starts during 2014 in Austin's five-county area.

The Austin Business Journal partners with Metrostudy Inc., which has a team of surveyors that physically count lots on a regular basis.

Here's a sample of the top five.

Austin Top Five Residential Developments by
Home Starts*
Rank Neighborhood City New Home
Starts
1 Sun City Texas
by Del Webb
Georgetown 294
2 Crystal Falls Leander 261
3 Teravista Round Rock 246
4 Paloma Lake Round Rock 199
5 Harris Branch Manor 189


*Only the top five of the top 25 are listed.

See Austin's List of Top 25 Developments with price range and starts. 

Also see Austin Market Data Sources.

Source: The Austin Business Journal Book of Lists (published March 2015).

CBRE 1Q 2015 Texas Industrial Marketview 

(5/26/2015 6:56:00 AM)

TEXAS - CBRE has released its first quarter 2015 Industrial Marketview for Texas metros.

Austin: Net absorption presses higher for a third straight quarter and comes in at 158,274 sf and total vacancy decreases to 10.5 percent. Despite low vacancy and healthy demand, there has been relatively little movement in industrial construction.

Dallas-Fort Worth: 1Q 2015 has been another strong quarter overall for the Dallas-Fort Worth industrial market.

With positive net absorption for the 18th consecutive quarter at 6.0 million sf, DFW continues to outperform much of the nation. 1Q 2015 saw DFW’s total vacancy rate rise 40 basis points to 7.3 percent.

El Paso: The active El Paso industrial market began the year with positive net absorption the first time since 2011. The overall industrial vacancy rate continued to decline to 11.8 percent.

This emphasizes the optimistic momentum of the local market. The vacancy rate for competitive, Class A space under 100,000 sf remained as the most “tight” segment at 2.6 percent.

Houston: Houston’s average industrial vacancy rate dropped 10 basis points from 5.0 percent as of 4Q 2014 to 4.9 percent, 1Q 2015 and 2 million sf of inventory was absorbed.

Amidst concerns regarding the energy industry, new local distribution or more specialized, crane-served type industrial leases are taking place.

McAllen: 1Q 2015 marked a sixth consecutive quarter of positive net absorption for the McAllen industrial market. Continued progressive activity decreased the market vacancy rate by 80 basis points year-over-year to 10.7 percent.

San Antonio: 1Q 2015 saw the highest levels of positive absorption for a first quarter since 2008, which also marks the 16th straight quarter where absorption was positive. This caused vacancy to fall 10 basis points quarter-over-quarter to 7.6 percent.

See CBRE Texas Industrial Marketview 1Q 2015.

This report is also under Market Research for each city.

Ingleside: Green light for Cheniere LNG terminal 

(5/26/2015 6:55:00 AM)

INGLESIDE - Cheniere Energy has received federal approval to build a liquefied natural gas (LNG) terminal near Ingleside.

The facility will be along the La Quinta Channel, on the northeast side of Corpus Christi Bay.

The Energy Department is allowing Cheniere to export as much as 2.1 billion cubic feet per day of liquefied natural gas over the next 20 years.

The plant will be one of the largest construction projects ever in the Coastal Bend, both in size and economic impact.

It will take approximately five years to build the $13 billion facility.

When it is finished, the plant will provide roughly 300 full-time, high-paying jobs.

The Corpus Christi LNG export project became the sixth to win a critical license to export natural gas broadly around the globe.

The first — Cheniere's Sabine Pass project — is nearing completion in southwestern Louisiana and could launch its first LNG shipments this year.

Read more at the Houston Chronicle and KRIS TV.

See UTSA's 2015 Clean Transportation Triangle — Alternative Fueling Facilities Program.

Colliers: Houston retail hits low vacancy in 1Q 2015 

(5/26/2015 6:45:00 AM)

HOUSTON - Colliers International has released its first quarter 2015 Houston Retail Market Research and Forecast Report. Houston’s retail market vacancy hit another record low — 6.0 percent — pushing rents higher

Houston’s retail market posted 707,653 sf of positive net absorption in 1Q 2015.

The average citywide vacancy rate fell 10 basis points from 6.1 percent to 6.0 percent between quarters and fell by 50 basis points over the year from 6.5 percent.

Currently, there is 1.6 million sf in Houston’s retail construction pipeline.

Due to the delivery of new product and dwindling supply, the average rental rate increased 1.8 percent from $14.87 per sf to $15.14 per sf between quarters and increased 2.2 percent from $14.82 in 1Q 2014.

Houston Retail Market Summary
Category Rentable
Area (SF)
Total
Vacancy
1Q 2015
Net
Absorption
Strip centers
(unanchored)
34,188,039 8.7% 69,077
Neighborhood center
(one anchor)
69,116,397 9.8% 179,316
Community centers
(two anchors)
44,582,846 5.8% 149,170
Power centers
(3 or more anchors)
25,472,234 3.5% -9,164
Lifestyle centers 4,802,813 6.4% 10,192
Outlet centers 1,899,333 14.5% 0
Theme/entertainment 533,474 4.5% -210
Single-tenant 70,392,664 2.0% 309,272
Malls 23,002,250 5.3% 0
Greater Houston total 273,990,050 6.0% 707,653


Source: Colliers International

See Colliers International Houston Retail 1Q 2015 report.

Do you need other sources for Houston retail? Save time! Go to Houston Market Research and look under the Retail category.

MELA units propel South San Antonio's transformation 

(5/26/2015 6:00:00 AM)

SAN ANTONIO - A new 360-unit multifamily community, MELA, is being planned for South San Antonio.

The complex is bordered by Mission Rd., the San Antonio River and the newly renovated Mission Concepcion Sports Complex.

The 360-unit project will transform a run-down, high-crime area into an unrecognizable luxury complex.

Driving past the site a couple of years ago, the passengers in Weem's car asked him to drive faster and get them out of the area. But Weems saw a diamond in the rough. Really rough.

The first phase of construction for the eastern half of the property will likely begin later this year, with preleasing coming online within 12 months. Construction is expected to take two years.

Units for phase one will range between 524 sf to 1,149 sf, with rent projections starting at $1,000 and reaching $1,600.

Read more at the San Antonio Business Journal.

Round Rock reaches top of affordability hill 

(5/26/2015 5:45:00 AM)

ROUND ROCK - Round Rock has been dubbed the third most-affordable place in America when comparing median household income to the average cost of living, in a study from personal finance website NerdWallet.

Several Texas cities, including several in Central Texas, made the list of The 100 Most Affordable Places in America. Plano, part of the Dallas-Fort Worth Metroplex, took the top spot.

•  No. 17: Austin

•  No. 20: Temple

•  No. 49: San Antonio

•  No. 100: Houston

Here’s a look at the top five cities and how they rank:

Top 5 Affordable Places U.S.

Rank
Location Median
household
income
Income
index
Cost of
living
index
Housing
index
1 Plano, Tex. $81,800 157 99 90
2 Edmond, Okla $71,607 137 96 94
3 Round Rock, Tex. $68,959 132 94 89
4 Juneau, Ala. $84,415 162 132 158
5 Midland, Tex. $63,819 122 97 97


Read more at the Austin Business Journal or see NerdWallet for the full report.

REOC: San Antonio 1Q 2015 office 

(5/26/2015)

SAN ANTONIO - Demand for space resulted in a strong first quarter start for area office properties, in fact, one of the strongest on record.

Gross leasing activity translated into 371,200 sf of positive net absorption led by the delivery of the fully-leased 158,075-sf Potranco building.

Decreasing vacancy, increasing rental rates and strong absorption characterize San Antonio’s expanding market.

While new supply creates opportunity to attract new companies to the area and accommodate existing tenants’ needs to expand and upgrade, the added space could cause vacancy rates to spike later this year if more leases are not inked prior to completion.

REOC: San Antonio 1Q 2015 Office
All Classes Citywide CBD Non-CBD
1Q 2014 1Q 2015 1Q 2014 1Q 2015 1Q 2014 1Q 2015
Inventory 28,417,306 29,162,340 5,728,263 5,758,373 22,689,043 23,403,967
Direct vacant 5,222,040 5,093,070 1,596,113 1,510,685 3,625,927 3,582,385
Vacant 18.4% 17.5% 27.9% 26.2% 16.0% 15.3%
Average rent $19.77 $20.07 $19.86 $19.76 $19.76 $20.11
1Q absorption 335,672 371,200 120,222 41,968 215,450 329,232
YTD absorption 335,672 371,200 120,222 41,968 215,450 329,232


*Statistical information is calculated for multi-tenant office bldgs. 20,000 sf and larger (excluding single-tenant, owner-occupied, gov't and medical buildings).

Source: REOC San Antonio

See the full Quarterly Office Report 1Q 2015, including previous quarters.

Don't forget! Visit San Antonio-New Braunfels Market Research for more stats.

CBRE: DFW Multifamily Marketview 1Q 2015 

(5/26/2015)

DALLAS-FORT WORTH - According to CBRE Marketview first quarter 2015, 2014’s strong momentum continues into 2015 for DFW’s multifamily market.

In 1Q 2015 over 5,700 units were absorbed, an increase of over 5,000 units from 4Q 2014.

For the fourth consecutive quarter, average monthly rents remained over $1.00 per sf for DFW. The quarter over quarter average rent rose by $0.02 per sf, a 1.7 percent increase. Quarter over quarter, the number of new units in 1Q 2015 decreased by 1,058 units from 4Q 2014.

Across the Dallas/ Fort Worth Market, occupancy increased by 20 basis points to 92.7 percent at the end of 1Q 2015, bouncing back from seasonal decline in leasing activity during 4Q 2014.

DFW Multifamily Market Overview
Markets Property
Count
Unit
Count
Mo. Rent
($/SF)
Occ.
(%)
Net
Absorption
Units
Under
Const.
Units
Const.
Delivered
Units
Dallas total 1,982 455,107 $1.08 92.7 4,347 13,771 2,359
Fort Worth
total
846 176,864 $0.96 92.7 1,418 2,810 120
DFW total 2,828 631,971 $1.06 92.7 5,765 16,581 2,479


See Dallas-Fort Worth Multifamily MarketView 1Q 2015 (PDF).

See the submarkets in Dallas and Fort Worth including Uptown/Oaklawn/Highland Park and Northwest Fort Worth/Saginaw/Eagle Mountain in the full report.

Need more apartment data? Don't miss out on free DFW Market Research and DFW apartment NewsTalk.

CBRE: Houston industrial 1Q 2015 review 

(5/26/2015)

HOUSTON - Houston metropolitan statistical area logged 265 new or expanded facilities, second to Chicago metro area with 385.

A considerable amount of capacity expansion among chemical manufacturers is underway along Gulf Coast, including $18 billion in just Houston metro area.

As of first quarter 2015, southeast Houston had 1.8 million sf of industrial space under construction with 46 percent preleased, along with an average vacancy rate of 4.8 percent, the lowest since second quarter 2003.

The Greater Houston Partnership predicts an estimated loss of 9,200 energy jobs in 2015 with a total employment gain of 62,900 jobs. This would equate to roughly 2 percent job growth versus 4 percent in 2014.

Houston Industrial Market Statistics 1Q 2015*
Market Rentable
Area SF
Vacancy
Rate
1Q 2015
Net
Absorption
(SF)
Under
Construction
(SF)
Avg. Asking
Rate
($/SF/
Year)
Northwest 135,237,230 4.1% 406,440 3,411,564 0.79
North 79,205,260 8.3% 824,526 2,344,931 0.72
Southeast 75,588,029 4.8% 484,962 1,823,707 0.71
Southwest 62,379,358 5.6% 149,172 1,130,926 0.79
CBD 52,898,068 4.4% 185,900 0 0.55
Totals** 479,778,552 4.9% 1,976,139 8,888,503 0.69


*Ranked by market rentable area.
**Totals are based on all submarkets. Only top five of the seven submarkets are shown.

Here's CBRE's Houston Industrial 1Q 2015 report.

Also see Houston Market Research.

Source: CBRE

Austin unemployment rate at low point since 2001 

(5/26/2015)

AUSTIN - Austin’s metro jobless rate dropped to 3.0 percent in April, down from 3.3 percent in March, the area’s lowest rate since January 2001, according to the Texas Workforce Commission.

The seasonally adjusted unemployment rate in Texas held steady at 4.2 percent in April, the national rate dropped to 5.4 percent from 5.5 percent in April 2015.

All told, local employers added about 9,500 jobs during April, roughly double the average job-creation rate for the month since 2000, according to commission data.

Read more at the Austin American-Statesman.

See more data on Employment under Austin Market Research.

Plano: Gaedeke Group starts One Legacy West project 

(5/26/2015)

PLANO - Gaedeke Group is ready to break ground on the 327,856-sf One Legacy West office project in West Plano.

The office project will be constructed at the southeast corner of SH 121 and Legacy Dr., right across the street from Toyota’s new headquarters that is going up.

The concrete-and-glass tower is one of two buildings Gaedeke Group plans on the 11-acre building site it purchased earlier this year.

When Gaedeke Group’s project starts, more than $1 billion of development will be underway in the 240-acre Legacy West mixed-use development located at the southwest corner of SH 121 and the Dallas North Tollway.

More background information? See Plano’s Legacy West draws Dallas buyer for 11-acre tract.

Read more at the Dallas Morning News and the Fort Worth Business Press.

ACU plans mixed-use Village at Allen Ridge in Abilene 

(5/26/2015)

ABILENE - Plans are in the works for Abilene Christian University (ACU) to develop a 95-acres mixed-use property called The Village at Allen Ridge on the city's north side.

The planned development would be at the intersections of Ambler Ave., I-20, and Judge Ely Blvd. and would include a cinema, a 50-acre park with trails, and waterfront outdoor dining on a small lake.

"We are thrilled to team with ACU to bring to the community perhaps its first truly mixed-use real estate project," said Tony Chron one of the principals of BVTD Partners.

Read more at KTXS.

Only Time will tell concerning $55B deal with Charter 

(5/26/2015)

AUSTIN - Charter Communications Inc. has agreed to buy Time Warner Cable Inc. — one of Austin's largest telecommunications providers — in a $55 billion deal that will bring together two of the nation’s largest cable companies.

Charter also said it will buy Bright House Networks for about $10.4 billion, rolling that smaller operation into the merged company.

The combined entity would have 23 million subscribers, second only to Comcast’s 27.2 million customers, according to CNBC.

Read more at the Austin Business Journal.

Chaparral Ice Center skates to college in Austin 

(5/26/2015)

AUSTIN - Virginia College has moved its Austin campus into the former Chaparral Ice Center on I-35 in North Austin.

Birmingham, Alabama-based Education Corporation of America (ECA) owns Virginia College and finished renovating the ice rink in 2012.

ECA chose to use the space for the Austin campus of Virginia College when its lease ended at 6301 E. Hwy. 290, campus President Harvey Giblin said.

The campus moved in April to the new site, which uses mostly solar panels and wind turbines to power the 43,375-sf campus.

The campus will host a grand opening celebration June 4.

For more information visit www.vc.edu.

Read more at the Community Impact Newspaper.

Georgetown: second-fastest growing city in U.S. 

(5/26/2015)

GEORGETOWN - Georgetown is the second-fastest growing city in the nation with a population of 50,000 or more, according to data from the U.S. Census Bureau.

The census estimates the city added 4,168 residents between July 1, 2013, and July 1, 2014, which is a 7.6 percent increase for that year.

More than 1,200 single-family homes have been platted and more than 1,100 multifamily units have been completed or are near completion, according to the city’s Planning Department.

Another 7,855 single-family homes are planned in the city and are expected to be built out in five to 20 years.

Based on an average household size of 2.46 according to the census, the city expects to add 25,055 residents in the next ten to 20 years, according to the news release.

Read more at the Community Impact Newspaper or check out the data at the U.S. Census Bureau.

Houston: Generation Park to cultivate high-tech workforce 

(5/26/2015)

HOUSTON - San Jacinto College is the latest tenant for the sprawling mixed-use Generation Park.

McCord Development and San Jacinto College said the campus will cover 57 acres in Generation Park, the 4,000-acre planned development in the northeast Houston area, where a large petrochemical industry cluster calls home.

"We can offer them something nobody else can: direct relationships with world-leading companies who want to work together to develop Houston's next generation high-tech workforce — particularly subsea and downstream energy," Ryan McCord said.

It will be across Lockwood Rd. from the 173-acre FMC Technologies corporate headquarters currently under construction.

Read more at Houston Chronicle.

South Austin sale: 160-unit Hunterwood 

(5/26/2015)

AUSTIN - Dallas-based Presidium Group teamed up with St. Croix Capital Advisory Services Group to acquire the 160-unit Hunterwood Apts. from Westdale Real Estate Investment and Management.

Hunterwood Apts. was constructed in 1984 on a 7.4-acre site at 409 William Cannon Dr. E in South Austin's outer south multifamily submarket.

Renovated in 2005, the community consists of one- and two-bedroom floorplans with on-site amenities that include a pool, laundry facilities and leasing center.

Read more at CoStar Group.

Texarkana meeting demand with Freestanding Emergency Center 

(5/26/2015)

TEXARKANA, TEX. - Texarkana Emergency Center (TEC) will open its freestanding emergency center in early fall at 4646 Cowhorn Creek Rd.

In contrast to an urgent care clinic, TEC is a freestanding emergency room with a team of ER trained doctors, nurses, and technologists that are available 24/7.

The physicians are all Board Certified, and are among the most experienced and accomplished in the region.

The Texarkana Emergency Center group of physicians currently operates successful Free Standing ERs in Houston, Austin, Beaumont, Laredo, and Dallas, and would like to provide the same great service to the Texarkana community.

Texarkana Emergency Center will be open 24 hours a day, 365 days a year.

To learn more about the myriad services they provide, see TexarkanaEmergencyCenter.com.

Read more at txktoday.com.

Turning over a new leaf in San Antonio Botanical Garden 

(5/26/2015)

SAN ANTONIO - The San Antonio Botanical Garden plans to break ground on a nearly $17 million expansion this summer.

The nonprofit organization that operates the Botanical Garden has secured approximately eight acres immediately south of its existing site.

It plans to develop a new Welcome & Discovery Center featuring multiple classrooms, a culinary garden and an outdoor kitchen area.

The project will also include the construction of a new parking garden with about 150 additional spaces, as well as a new display garden and a 2.5-acre family adventure area.

“This will be the most transformative expansion in our history,” said Botanical Garden Executive Director Bob Brackman. “We hope to break ground in July or August.” The project is expected to take between 15 and 18 months to complete.

The additional acreage is bordered by Old Austin Rd., Funston Place, North New Braunfels Ave. and Pinkney St.

Roughly 130,000 people visited the Botanical Garden in 2014. Brackman expects the 2015 count to surpass that figure.

“We are expecting at least a 35 percent increase in traffic as a result,” Brackman said.

Read more at the San Antonio Business Journal.

El Paso apartments 1Q 2015: Hendricks-Berkadia 

(5/25/2015)

EL PASO - During the last 12 months, renters occupied 450 additional apartments in the metro area, a decrease of 58 percent from the prior 12-month period.

Despite the reduction in leasing activity, year-to-date absorption is on pace to exceed average apartment demand of 330 units from 2010 to 2014.

In the last 12 months, apartment demand exceeded completions by 60.6 percent, fueling a decrease in vacancy.

By the end of first quarter, metrowide vacancy was 7.6 percent, 30 basis points lower than the same period last year. In the prior 12-month period, the vacancy rate fell 160 basis points.

First quarter apartment completions decreased 65.1 percent year over year as 78 units were delivered at the Santi Dwellings at Monticello apartment community. Nearly 200 additional apartments are expected to be completed metrowide by year-end.

Approximately 60 percent of these additions to inventory will be in northeast El Paso, while the remainder will come online in northwest El Paso.

Permits were requested for 270 apartments in the first quarter of this year.

During the same period last year, issuance totaled six apartments. From 2010 to 2014, developers requested an average of 1,190 permits.

Year-over-year rent growth was up in first quarter of this year, the first positive annual rent growth in nine quarters. Monthly rents ascended 0.8 percent since first quarter 2014 to $794 in March.

During this time, effective rents grew 1.2 percent to $781 per month as concessions decreased from 2 percent to 1.6 percent of asking rents.  

El Paso Multifamily 1Q 2015 / 1Q 2014 Comparison
Area Vacancy Average Rent Average Rent Increase
1Q
2015
1Q
2014
1Q
2015
1Q
2014
1Q
2015
1Q
2014
El Paso 7.6% 7.9% $794 $788 0.8% -0.5%

 
To read the full report visit the El Paso Multifamily Berkadia 1Q 2015 Report. Registration is free.

El Paso Market Research, El Paso NewsTalk

Dallas Commerce Plaza Hillcrest brings $11.4M 

(5/24/2015)

DALLAS - The 203,688-sf office complex at LBJ Fwy. and 12,850 Hillcrest Rd. has been sold for $11.4 million.

The nine building office complex — on ten acres — was 74 percent leased to 92 tenants at the time of acquisition including Signature Medical Imaging with 14,410 sf and Playworks with 5,408 sf.

Commerce Plaza Hillcrest holdings include Park Central I at 7616 LBJ Fwy., Gateway Tower at 8111 LBJ Fwy. and North Central Plaza I at 12,655 North Central Expy.

Hartman Short Term Income Properties XX Inc. — the buyer — owns ten properties in Dallas-Fort Worth, Houston and San Antonio.

Source: SEC

Read more at the Dallas Business Journal.

Austin home prices skyrocket! 

(5/24/2015)

AUSTIN - The median home price in Austin has jumped $20,000 in 30 days.

“(It’s) one of the largest jumps in median home price that we’ve seen in years,” said Barb Cooper, president of the Austin Board of Realtors which has released monthly data.

The median price for a single-family home now stands at $274,000, compared to 2014 when the median price was $239,900. The average price is $341,054, up from $308,752 a year ago.

Homes continue to sell rapidly, even though April is not considered as strong as the summer season.

The $875.8 million in total volume represents a record for the month of April.

Read more at the Austin Business Journal.

$10M buckles up North Belt Building in Houston 

(5/22/2015 7:10:00 AM)

HOUSTON - Hartman Short Term Income Properties XX Inc. has acquired the 230,872-sf North Belt Building for $10.15 million.

The North Belt Building was 64 percent occupied by 12 tenants.

See Securities and Exchange Commission

El Paso portfolio of Downtown going on the block 

(5/22/2015 7:00:00 AM)

EL PASO - El Paso retail developer River Oaks Properties put its entire portfolio of Downtown property on the market in March, and now the company has put those same properties up for auction, and accepting written bids until June 1, 2015.

The portfolio includes 18 properties and half of a Downtown block that has been cleared for development.

When the properties were originally put up for sale, they were listed with prices ranging from $500,000 to $5 million. None has been sold since the listings about three months ago.

Many of the Downtown properties being auctioned are located in the El Centro shopping district of El Paso.

For more about this story, visit the El Paso Inc.

Don't miss out! See El Paso NewsTalk and Market Research.

$1B Frisco Station plans roll out 

(5/22/2015 6:45:00 AM)

FRISCO - Frisco Station Partners — a development team composed of The Rudman Partnership, Hillwood Properties and VanTrust Real Estate — has named the initial development team of Frisco Station, a $1 billion, 242-acre development near the new Dallas Cowboys headquarters.

Plans for the proposed 242-acre development at the northwest area of the Dallas North Tollway and Warren Parkway will feature more than 4 million sf of Class A office space, 2,400 apartments, retail, restaurants, entertainment venues and medical facilities.

Frisco Station is part of a larger movement in Frisco, called the $5 Billion Mile, which officials say will dramatically reshape the fast-growing city and will help it recruit new corporate residents.

More background information? See Breaking down Frisco's $5 billion mile.

Need a visual? Frisco District Plan here.

See DFW Market Research and DFW NewTalk Texas.

Read more at the Dallas Business Journal.

Brenham workforce shivers from production freeze 

(5/22/2015 6:42:00 AM)

BRENHAM, WASHINGTON COUNTY - Blue Bell Creameries has announced a massive round of layoffs and furloughs as it confronted the reality of long-term plant closures to recover from the listeria crisis.

The layoffs affect about 750 full-time and 700 part-time employees, or 37 percent of the Blue Bell workforce of 3,900.

Another 1,400 employees will be furloughed. Altogether, the actions affect nearly three out of four Blue Bell workers.

After the recent announcement of 160 workers being laid off by Valmont Industries and another 64 let go by MIC Group, the local workforce has taken a big hit.

Read more at the Houston Chronicle and KWHI.

Development of Cameron County said to be ‘inspirational'  

(5/22/2015 6:30:00 AM)

BROWNSVILLE-HARLINGEN - The growth and economic development that is underway right now in Cameron County is “inspirational,” says U.S. Sen. John Cornyn.

Among the things happening in Cameron County right now are the development of UT-Rio Grande Valley in Brownsville, the UT-RGV School of Medicine in Harlingen, and SpaceX at Boca Chica beach.

There are plans to deepen the ship channel at the Port of Brownsville, and preparation is underway for a Harlingen ‘Aerotropolis’ at Valley International Airport, a major conference center in Harlingen, and a major commercial development on I-69 East in San Benito.

More about this story at South Padre Island Economic Development.

Brownsville-Harlingen Market Research, Brownsville-Harlingen NewsTalk

San Antonio: Dallas partnership 'tracts' down 45 acres 

(5/22/2015)

SAN ANTONIO - Legacy Capital Co. and Standridge Cos., a Dallas-based partnership, has acquired multiple tracts totaling 45 acres within the western region of San Antonio at Monterrey Village.

The tracts are both fully entitled and ready for development and sales to end-users and developers.

The Monterrey Village tracts are zoned for mixed-use commercial development.

"Retail and restaurants, obviously," Kevin Watson, a partner with Legacy, said when asked what would be located at the southwestern quadrant of Loop 410 and Hwy. 151.

Along with retail development, a few of the tracts within the 45-acre property are zoned for office, medical and multifamily use.

Read more at the San Antonio Business Journal.

Need a visual? View Monterrey Village acquisition here.

Bryan: Jan.–April 2015 building permit value up from 2014 

(5/22/2015)

BRYAN - The City of Bryan's building permit data for January through April 2015 are available.

Bryan Building Permits

Permit Type
 
Permits Total Value
Jan.-Apr.
2015
Jan.-Apr.
2014
Jan.-Apr.
2015
Jan.-Apr.
2014
Residential - Single Family - Detached 101 58 $18,151,243 $14,354,763
Residential - Single Family - Attached 3 17 $439,032 $1,760,582
Residential - New 2 Unit Bldgs 1 3 $173,316 $999,534
Residential - New 3-4 Unit Bldgs 0 2 $0.00 $459,220
Residential - New 5+ Unit Bldgs 0 0 $0.00 $0.00
Residential - Add/Alter/Reno 131 171 $1,032,009 $1,310,734
Commercial - New Construction 23 16 $18,495,654 $15,036,034
Commercial - Add/Alter/Reno 51 64 $19,447,600 $13,101,449
Total* 459 458 $60,023,289 $48,220,932


*Total includes all permit types including manufactured homes, demolition, swimming pools and signs.

Read more at City of Bryan

Flower Mound: Owens & Minor renews 223,000-SF lease 

(5/22/2015)

FLOWER MOUND - Owens & Minor renewed its 223,190-sf lease with Duke Realty in the Lakeside Ranch Business Park at 550 Lakeside Pkwy.

The national medical and surgical supplies distributor originally took occupancy in Building 20 at the 748,831-sf distribution facility in 2010.

The single-story facility is fully leased with HD Supply occupying the remaining 526,953 sf.

Read more at CoStar Group.

DFW Market Research, DFW NewsTalk industrial

San Angelo officials eye $32M courthouse project 

(5/22/2015)

SAN ANGELO - Officials are adding a $32.08 million project to renovate the courthouse and add a building. Once renovated, the existing courthouse building will be 49,000 sf and the new building will be about 190,000 sf.

Architects presented a master plan to update the courthouse and connect it to a new four-story building.

Consultants devised the $32 million first phase of the project to renovate the first two floors and to build the shell of a new building, then link the two buildings with a walkway.

If county officials are able to begin construction in the latter half of 2016, architects estimate the project would be complete by 2018.

Read more at the San Angelo Standard Times.

San Angelo Market Research, San Angelo NewsTalk

DFW Airport flies in economic growth 

(5/22/2015)

DALLAS-FORT WORTH - DFW International Airport is an important force behind Texas’ growth and a contributor to one of the nation’s most prosperous and vital economies.

DFW Airport is the world’s third busiest — offering non-stop service to 148 domestic and 57 non-stop international destinations — and serves as a powerful engine for the Texas economy, boosting trade, creating jobs and attracting considerable investment to the surrounding region.

Launched in 2001 — located on approximately 432 acres of airport property — International Commerce Park was the first master-planned industrial/warehouse park at DFW.

The complex is located in a Foreign Trade Zone (FTZ), providing opportunities for imports and exports to facilitate the development of international trade and airfreight logistics to expand world air cargo growth.

Southgate Plaza — a mixed-use development on 30 acres being developed — will feature approximately 50,000 sf of restaurant and retail space, approximately 500,000 sf of office space and an on-site 137-room Hyatt Place hotel adjacent to the rental car center.

The economic forecast for Texas looks bright and the airport’s strategic position has made it a catalyst for growth in North Texas.

Read more at RE Business Online.

See DFW Market Research and DFW NewsTalk.

OmniTRAX drafts $8.5M plan to Port of Brownsville 

(5/22/2015)

BROWNSVILLE - OmniTRAX, one of the biggest private railroad and transportation management companies in North America, signed a 30-year franchise agreement with Brownsville Navigation District commissioners.

This gives the company control over the Brownsville & Rio Grande International Railroad, which serves the port, and the responsibility of bringing in new industry.

Specifically, the agreement requires OmniTRAX — an affiliate of Denver-based The Broe Group — to invest at least $8.5 million to develop a master plan of a 1,200-acre, seven-parcel industrial park on port land.

The mapped out parcels of the industrial park, which OmniTRAX has dubbed the “GEOTRAC Industrial Hub,” including first- and second-phase sites for the park’s business incubator.

Steel will figure largely in the Port of Brownsville’s future, according to OmniTrax.

Read more about this story at the Brownsville Herald.

Brownsville-Harlingen Market Research, Brownsville-Harlingen NewsTalk

Laredo International Airport March 2015 stats 

(5/22/2015)

LAREDO - The enplanement and deplanement statistics and cargo report for Laredo International Airport have been released through March 2015.

              Enplanements and Deplanements 2015

Month Enplaned Deplaned Change
2015 2014 2015 2014 Enplaned Deplaned
Jan. 7,367 7,057 7,677 7,229 4.39% 6.20%
Feb. 6,100 6,445 6,553 6,500 -5.35% 0.82%
Mar. 7,908 6,808 8,650 7,657 16.16% 12.97%

               Cargo Report 2015

Month 2015 2014 Change
Jan. 26,902,837 24,187,770 11.22%
Feb. 31,399,212 25,767,048 21.86%
Mar. 31,046,467 53,815,391 -42.31%

Source: Laredo International Airport

Lubbock: United Family's $34M expansion to create 190 jobs 

(5/22/2015)

LUBBOCK - The United Family of grocery stores announced the expansion of its distribution center and plans for the addition of 190 new jobs in Lubbock over the next few years.

Robert Taylor, United president, announced the company is adding 200,000 sf to its Lubbock distribution site — a $33.7 million capital investment.

The new jobs United will create include back office and IT support, warehouse and transportation staff. The salaries for those jobs will be $7.2 million per year.

“It is important to recognize that by keeping and expanding the support functions for United here in Lubbock, the economic development that comes from company growth all originates right from our city,” Taylor said. “This is a significant increase to the 872 support jobs at an annualized payroll of almost $35 million currently in place.”

Read more at the Lubbock Avalanche-Journal.

Pasadena's retail energy boost with Market at Crenshaw 

(5/22/2015)

PASADENA - The real estate market on the Houston region's far eastern side is poised for a renaissance as an unprecedented construction boom in the petrochemical industry fuels growth there. The activity has spurred a new retail shopping center.

Transwestern is developing the 168,924-sf Market at Crenshaw retail center on 24 acres along Beltway 8 between Crenshaw Rd. and Fairmont Pkwy.

Burlington has signed the largest lease in the project to date, agreeing to occupy 55,000 sf.

An additional 60,000 sf will be under construction in the next 90 days for Phase 2.

Read more at Houston Chronicle.

Houston Market Research, Houston NewsTalk

San Marcos' population boom! 

(5/22/2015)

SAN MARCOS - The fastest-growing city, for the third consecutive year, was San Marcos with U.S. Census numbers showing the city’s population swelled by 7.9 percent between 2013 and 2014 to 55,892.

As the city keeps growing, so does the interest to invest in property. The presence of Texas State University, the San Marcos River and affordability — compared to Austin — also make the city marketable.

City of San Marcos Mayor Daniel Guerrero said the city has been planning for the population growth over the years, putting into place different infrastructure projects to make sure they keep up with the boom.

Including San Marcos, Texas was home to six of the top 13 fastest growing cities by percentage. Others on the list included Georgetown, Frisco, Conroe, McKinney and New Braunfels.

Read more at KXAN.

It's a go: Lake Pointe One reinvestment zone project 

(5/22/2015)

SUGAR LAND - The City Council approved the creation of a reinvestment zone for 3.59 acres of lakefront property.

Planned Community Developers acquired five acres of lakefront site located adjacent to Creek Bend Dr. in Lake Pointe, and adjacent to the US 59 and  SH 6 intersection.

The almost four acres of lakefront property will serve to build a six-story, 150,000-sf Class A office building, and an approximate 550-space parking garage.

A 134-room hotel will be built on 1.41 acres.

Read more at the Community Impact Newspaper.

See Sugar Land office, hotel to lakefront property.

Midland: 100% leased Western Park Plaza sells 

(5/22/2015)

MIDLAND - The Western Park Plaza, a 91,353-sf retail property has been sold. Western Park Plaza is located at 1012-1028 Andrews Hwy.

The center is 100 percent occupied, and all leases are triple net.

Major tenants consist of Miss Cayce’s Christmas Store, Day by Day, EnerVest, Family Dollar, Mobility Unlimited, Yates Carpets, BootCamp, Calvary Christian Fellowship Church and Garza Crossfit.

The building was constructed in 1981 and sits on approximately 7.37 acres. The center is shadow anchored by Albertson’s grocery store and Ace Hardware.

Other retailers in the area include Wells Fargo, Wendy’s, Long John Silver’s, McDonald’s, Schlotzsky’s, Dollar Tree, O’Reilly Auto Parts, Furr’s Cafeteria, Planet Fitness, Hastings, Rosa’s Café, Whataburger, Burger King and others.

Source: Marcus & Millichap Real Estate Investment Services.

Midland NewsTalk Texas

Austin: Dell Inc. computes need for 200 jobs 

(5/21/2015 3:00:00 PM)

AUSTIN - Dell Inc. is hiring for more than 200 sales positions in Central Texas as a part of a larger hiring spree.

Company spokesman David Frink said that Dell has accelerated its hiring “to increase our ability to serve customers around the world."

Dell is also continuing to hire globally for strategic development areas “particularly in hardware and software development, and engineering,” he said.

Those interested can learn more at http://www.dell.com/career.

Read more at the Austin American-Statesman.

RED Development lands a red-hot tenant in Dallas 

(5/21/2015 10:15:00 AM)

DALLAS - After a year of planning, Phoenix-based RED Development has landed its first major retail tenant — Tom Thumb — into its proposed Uptown tower.

The two-tower, 800,000-sf project, formerly known as Akard Place, at Field St. and Cedar Springs Rd. is getting a new name: The Union Dallas, slated to open in 2017.

Plans for The Union Dallas — a two-tower project — include 407,000 sf of Class AA office tower on 14 floors of the tower, a 300-unit high-rise apartment building on 20 floors, and 82,500 sf of retail and restaurant space.

The towers will also include 11 levels of above- and below-grade parking.

Tom Thumb plans to lease 60,000 sf of space. CBRE-UCR is leasing the remainder of the retail space in the towers, which total about 25,000 sf.

Read more at the Dallas Business Journal.

El Paso's Cielo Vista adding 125,000 SF 

(5/21/2015 8:00:00 AM)

EL PASO - The 1.2 million-sf Cielo Vista Mall will be expanded next year by 125,000 sf. This will be the first major expansion to the East-Central El Paso mall throughout its 40-year history.

Cielo Vista, El Paso's largest shopping location, will add 35 to 40 specialty stores and three to four restaurants, said Simon Property Group who owns the mall.

Construction is expected to begin in January 2016 on the multimillion-dollar project.

Source: The El Paso Times

No ads and free El Paso Market Research, El Paso NewsTalk. The Center can use your quarterly data in El Paso Market Research. Send an email to ecraig@tamu.edu.

Tarleton Texan Riders' saddles up $76M for student housing 

(5/21/2015)

STEPHENVILLE, ERATH COUNTY - Balfour Beatty has reached financial close on a new $76 million phase of development for a student housing project at Tarleton State University, a member of the Texas A&M University System.

In this third phase of the partnership, the Balfour Beatty team will deliver more than 1,000 student housing beds at the University’s campus, as well as academic space for the ROTC program and shell space for a university-operated health clinic.

Balfour Beatty Campus Solutions will serve as the lead developer on the project, which is scheduled to break ground soon and open August 2016.

The new 616-bed housing facility will be located adjacent to the football stadium, and will include two four-story structures with both four- and two-bedroom units in a modified suite configuration that will include private bedrooms, semi-private baths, a living room and kitchenette.

Balfour Beatty will also renovate and expand Traditions Hall, an existing 180-bed student housing facility that will grow to 446 beds configured in double and single semi-suite style units.

Upon completion, the university will operate and maintain both facilities including management of all associated resident life activities.

Read more at Texas Real Estate Business.

New Braunfels: $6.3M expansion for Tech center at Alamo CTTC 

(5/21/2015)

NEW BRAUNFELS - The Alamo Colleges-Central Texas Technology Center (CTTC) campus will double in size with a $6.3 million expansion.

The new expansion will allow students to acquire an associate's degree at the CTTC for the first time as well as enhance the workforce development training programs.

The 30,000-sf expansion will include additional instructional space, biology and chemistry labs, student support areas and faculty offices.

The CTTC is located at 2189 FM 758.

Operated by Alamo Colleges and located next to New Braunfels Regional Airport between New Braunfels and Seguin, the CTTC opened its doors to students in 2004.

Read more at the New Braunfels Herald-Zeitung.

'SuperBlock' mixed-use breaking in Midtown 

(5/21/2015)

HOUSTON - Midtown Redevelopment Authority plans to hold a groundbreaking ceremony for Midtown Park next week.

Midtown Park is a six-acre site that will be developed into a mixed-use facility including a public park, retail space, residential facilities and a public parking garage, according to the Midtown Redevelopment Authority.

The retail plaza will take up half an acre adjacent to McGowen St. and will include a restaurant and kiosk. The 2.5-acre greenspace south of the multifamily development will include a great lawn and a pavilion and stage structure.

The groundbreaking is scheduled for May 28, and Midtown Park is expected to be complete in late 2016.

Read more at Houston Business Journal.

Hilti lands R&D near DFW Airport 

(5/21/2015)

IRVING - Hilti plans to open a new research and development facility in about 65,000 sf within Building 4 of Dallas-based Jackson-Shaw's new Parc Royal development in Irving.

Last October, Hilti Inc., a subsidiary of Hilti North America, moved the global tool manufacturer's headquarters to Plano, taking a large space at Trammell Crow Co.'s Legacy Towers project near the Shops at Legacy.

Jackson-Shaw recently began construction on the first four buildings — in the Parc Royal development — totaling 511,500 sf within the new 70-acre business park.

Hilti is the first tenant to land at the property and plans to move to the park in June.

Jackson-Shaw expects to complete the first four buildings of the business park by the end of December.

Read more at the Dallas Business Journal.

Need a visual? See the development here.

McAllen's wastewater plant to flow for decades to come 

(5/21/2015)

McALLEN - The Public Utility will update its south wastewater treatment plant in its biggest project to date.

Public Utility Board of Trustees and City Commissioners broke ground on a $56 million expansion for the South Wastewater Treatment Plant that once complete will be able to accommodate McAllen’s growth for decades to come.

The expanded facility will better serve McAllen’s residents with a new safety disinfection processes, more energy efficiencies and a better odor control system.

The treatment plant expansion will be able to process the wastewater for 8,500 average homes in the city. It will be able to handle about 10 million gallons a day. The primary purpose of the water treatment plant is to remove and properly dispose of pollutants and disinfect the wastewater before it is returned safely to the environment.

Funding for the project consists of loans and grants through the Texas Water Development Board in a net amount of $45.93 million and $16.7 million from MPU’s bond, sewer depreciation and sewer capital improvement funds totaling a combined budget of $63.63 million. However, the overall cost of the job was reduced to $56 million after project engineers, Carollo Engineers, worked closely with CSA Construction, the builder, to find several reduction measures.

The construction is expected to be complete by mid 2018.

Read more about this story at KGBT-TV.

NTREIS: Grayson County housing stats 1Q 2015 

(5/21/2015)

GRAYSON COUNTY - North Texas Real Estate Information Systems (NTREIS) has released its Market Watch Report for first quarter 2015.

Grayson County includes the cities of Sherman and Denison.

Grayson County Marketwatch Report
Key Metrics 1Q
2015
1-Yr.
Chg.
Median sales price $122,700 30.5%
Average sales price $149,804 14.2%
% Orig. price rec'd. 91.8% 2.7%
Homes for sale 649 -21.3%
Closed sales 337 17.4%
Months supply 4.9 -31.5%
Days on market 107 -3.6%


Source: North Texas Real Estate Information Systems

See NTREIS Marketwatch Report 1Q 2015 (PDF) for more information. To find data quickly, see page 42.

Silverado drives to Southlake 

(5/21/2015)

SOUTHLAKE - Silverado announced the acquisition of a six-acre assisted-living and memory care community in Southlake.

Beginning June 1, the Irvine, California-based company will manage the 56-bed community at 2001 E. Kirkwood Blvd., now known as Silverado Southlake.

The property — developed in 2013 — includes a 39,000-sf, single-story building, with Silverado also planning to develop a 22-bed community on a one-acre section of the property.

With Silverado Southlake, the company now operates five memory care communities, as well as hospice and at-home care services, in the Dallas-Fort Worth area — providing a complete continuum of services.

More information is available at www.silveradocare.com

Read more at the Fort Worth Business Press and Street Insider.

Kilgore, Hallsville lead area population growth 

(5/21/2015)

KILGORE - Kilgore and Hallsville added the most residents among East Texas cities this past year, while Longview grew slightly, according to U.S. Census data.

The estimated increase of 398 residents in Kilgore — or 2.74 percent — compared with 2013 estimates was the largest percentage growth across East Texas.

Longview saw an estimated growth of 127 people — or 0.16 percent — from 2013 to 2014.

Kilgore's growth since the last formal census is about 1,973 residents, or 15.21 percent.

Hallsville is up about 9.17 percent — 328 people — since 2010.

2014 Population Changes
City 2010 Census
Population
2014 Estimate Change
Tyler 96,900 101,421 4,521
Kilgore 12,975 14,948 1,973
Marshall 23,523 24,701 1,178
Longview 80,455 81,593 1,138


*Ranked by largest estimated change

See the interactive map from Arp to Whitehouse here.

Source: Longview News-Journal

Austin: prices and home sales set record for April 

(5/21/2015)

AUSTIN - Central Texas home prices hit an all-time high last month, while sales set a record for the month of April, according to the Austin Board of Realtors.

April marked the eighth straight month of annual home sale increases, board officials said, noting that housing affordability continues to be a challenge.

The median price jumped 14.4 percent year over year in April, with half of the homes selling for more than $274,000 and half selling below that amount. Less than 30 percent of single-family homes sold in the region were priced below $200,000.

The board said 2,568 homes were sold last month — a record for the month of April and an increase of nearly 8 percent over April 2014.

Read more at the Austin-American-Statesman.

Don't miss out on free Austin Market Research.

NTREIS: Palo Pinto County housing stats 1Q 2015 

(5/21/2015)

MINERAL WELLS, PALO PINTO COUNTY - North Texas Real Estate Information Systems (NTREIS) has released its Market Watch Report for first quarter 2015.

Palo Pinto County Marketwatch Report

Key Metrics
1Q 2015 1-Yr.
Chg.
Median sales price $123,000 -20.7%
Average sales price $192,087 -15.5%
% Orig. price rec'd. 88.1% -0.1%
Homes for sale 415 4.3%
Closed sales 44 4.8%
Months supply 20.0 5.5%
Days on market 184 -1.6%


Source: North Texas Real Estate Information Systems

See NTREIS Marketwatch Report 1Q 2015 (PDF) for more information. To find data quickly, see page 78.

North Texas apartment rent increases on the horizon 

(5/20/2015 10:00:00 AM)

DALLAS-FORT WORTH - The DFW area’s apartment rents in first quarter were more than 5 percent higher than a year earlier, a record annual increase for North Texas.

With 20,000 apartments set to open in 2015, industry analysts were expecting a slowdown in rent growth.

“As we move into the second quarter this number is going to go up and could go up meaningfully,” said Greg Willett, vice president of Carrollton apartment analyst MPF Research. “In some places across the country and in other Texas markets, there is a slowdown in rent growth. Not in DFW.”

Average rents in the area are now at $927 a month, with most new units renting for $1,200 or more. Willett continued to state that DFW apartment vacancies are now at a 14-year low at 5 percent.

Read more at the Dallas Morning News.

Don’t forget! Visit Dallas-Fort Worth-Arlington Market Research for more stats.

DFW apartments NewsTalk.

The great outdoors discovers Laredo  

(5/20/2015 9:00:00 AM)

LAREDO - Gander Mountain, the nation’s largest and fastest-growing network of outdoor specialty stores, announced it would open its newest Texas location in fall 2015.

The store will be located in a new 60,310-sf store in the Plaza de San Isidro development, on Nafta Blvd., near the intersection of McPherson Road and US 59/Bob Bullock Loop.

More about this story visit The Laredo Morning Times.

Laredo NewsTalk, Laredo Market Research

GEPAR: El Paso area home sales April 2015 

(5/20/2015)

EL PASO - The Greater El Paso Association of Realtors (GEPAR) has released home sales data for April 2015.

Quick facts include:

• The median price of existing single-family homes decreased to $119,900, down 2.1 percent from March 2015.
• Existing single-family home sales increased 21.0 percent from March 2015 for an April 2015 total of 444 sold units.
• Condos increased in price to $115,000, up 2.7 percent from March 2015.
• Existing condo sales decreased 24.0 percent in April 2015 from March 2015, for a total of 19 sold units.

Select zip codes are represented below along with statistics from the GEPAR MLS area as a whole.

El Paso Region Sales and Price Activity by Units Sold
MLS Wide Median Price
Apr. 2015
Price Chg.
Apr. 
2014
Units Sold
Apr. 2015
Sales Chg.
Apr. 
2014
GEPAR
(single-family)
$119,900 -0.5% 444 15.0%
GEPAR
(condo)
$115,000 27.8% 19 -5.0%
Zip Codes*        
79936 $103,750 -7.2% 72 33.3%
79912 $178,000 -3.8% 62 -13.9%
79938 $124,900 -0.9% 55 -1.8%
79924 $93,500 14.1% 43 19.4%
79928 $115,000 18.6% 39 160.0%
79925 $117,950 -3.1% 23 27.8%
79932 $155,900 -2.2% 23 43.8%
79934 $133,000 10.8% 15 -28.6%


*Region ZIP Code data include single-family only and represent eight select ZIP codes sorted by highest number of units sold.

Source: Greater El Paso Association of Realtors (GEPAR)

tags: El Paso NewsTalk, Stats in a basket

IRR: Austin multifamily 2015 viewpoint 

(5/20/2015)

AUSTIN - Strong population growth, the attraction of new business, and low unemployment continue to drive the expansion of the Austin multifamily market.

Overall vacancy has held steady at just under 5 percent in the past two years but is expected to increase slightly in 2015, as more than 13,000 new units are expected to be completed.

Rental rates for both A and B/C property classes continue to increase, with units in central and west Austin seeing the highest rates, as demand remains strong.

Cap rates are steady across the metro area and will likely decrease only slightly throughout 2015.

Discount rates decreased slightly in 2014 and will likely remain flat over the coming year.

Downtown Austin continues to be a hotspot for new development, with nearly 2,000 new multifamily units under construction.

Given continued population growth to drive the demand for the increased number of new multifamily units becoming available, the market should continue to remain balanced and strong into 2015.

Austin Multifamily Snapshot
  Urban
Multifamily
Class A
Urban
Multifamily
Class B
Suburban
Multifamily
Class A
Suburban
Multifamily
Class B
Going In
cap rates
5.5% 6.3% 5.8% 6.3%
Discount
rates
7.5% 8.5% 8.0% 8.5%
Market rent
($/unit)
$1,556 $792 $1,104 $816
Vacancy rate 13.4% 1.7% 6.1% 3.5%


See Integra Multifamily Annual Viewpoint 2015.

For more Multifamily news, check out Austin Market Research and Austin Multifamily NewsTalk.

Dave & Buster's food, fun go west to El Paso's Bassett Place 

(5/20/2015)

EL PASO - New additions to Bassett Place, El Paso’s most established shopping center, by renovating the mall’s food court and incorporating the area’s first Dave & Buster’s into the current merchant roster.

Dave & Buster’s anticipates the opening of the new El Paso location at Bassett Place in late 2015.

To make way for the nearly 36,000 sf entertainment destination, Bassett Place’s Café Plaza Food Court will be redeveloped into a smaller six-unit facility. The existing food court will be closed for the remainder of 2015, with new eateries slated to open during first quarter 2016.

Built in 1962 on 56 acres of what was then the far-east side of El Paso, Bassett Place is El Paso’s original shopping center. Located at I-10 and Geronimo, Bassett Place is anchored by Costco Wholesale, Kohl’s, Ross, Target and Premiere Cinemas + IMAX.

To learn more about this story, visit the El Paso Times.

El Paso Market Research, Texas cities' retail NewsTalk

Addison: Libitzky buys 87,000-SF office building 

(5/20/2015)

ADDISON - An 86,750-sf Addison office building has sold to California-based Libitzky Property Co.

The 14850 Quorum Drive building is located just west of the Dallas North Tollway and south of Belt Line Rd.

Built in 1985, it is in the Quorum business park.

Libitzky has recently purchased several North Texas buildings, including the ten-story Canal Centre office building in the Las Colinas Urban Center.

Read more at the Dallas Morning News.

Old architectural styles touch El Paso Fields subdivision 

(5/20/2015)

EL PASO - Developer Will Harvey wants to bring the feel and architectural styles of several historic neighborhoods to a slice of Upper Valley land and to honor the era and business acumen of his great, great grandfather, Zach White, an El Paso pioneer.

The Fields subdivision will be an upscale, infill development with 35 homes, likely ranging in price from $500,000 to $700,000, on 14.5 acres of farmland once owned by White.

The subdivision's 35 lots will be sold to a handful of builders who will be required to construct homes conforming to one of several architectural styles that Harvey and Chad North, an El Paso residential designer and land planner, culled from Kern Place, Sunset Heights and Manhattan Heights.

More about this story at the El Paso Times.

What's ahead for Houston office construction costs 

(5/20/2015)

HOUSTON - After significant increases in construction costs in Houston over the past few years, 'Construction Costs 2015 Report' noted an uptick in prices across all areas of office core and shell and interior construction.

Core and shell for a high-rise office building will cost $109 to $149 per sf in 2015. Last year, the cost was $105 to $142 per sf for the same type of building.

Core and shell work for office buildings and parking structures, prices will flatten this summer and possibly drop in the fall.

Read more at Houston Business Journal.

San Angelo's new fire training center coming soon 

(5/20/2015)

SAN ANGELO - City officials approved a $3.45 million construction contract for a new fire training center, which includes a five story “burn” tower.

The new training facility on city land behind the animal shelter, at 3142 US 67 N.

The proposed center will be 14,500 sf and will include offices, classrooms, engine bays and other facilities.

Construction should begin this summer and take about eight to ten months.

Read more at San Angelo Standard Times.

Sold: League City's 84,550-SF Access Self Storage 

(5/20/2015)

LEAGUE CITY - Public Storage Inc. acquired the newly constructed Access Self Storage facility at 3155 W. Walker St.

The property encompasses 84,550 rentable sf of storage space in 762 climate-controlled units.

The property benefits from exposure to Farm to Market Rd. 646, the primary commercial thoroughfare in the city.

“Because of the facility’s high-quality construction, modern design and retail-oriented location, the opportunity generated significant interest from a diverse pool of institutional investors,” said Lauren Monroe, vice president of development for Access Self Storage.

Source: Inside Self Storage

McAllen: planned major expansion for La Plaza Mall  

(5/20/2015)

McALLEN - La Plaza Mall, a retail hub that has been in the Rio Grande Valley since 1976, will see major expansion in the coming years, according to a news release by the Simon Property Group.

New additions to the mall will include about 60 new specialty stores and eight restaurants, which are set to be completed by Texas’ tax-free weekend in 2017.

The first phase of the expansion will involve demolishing the Sears store in January 2016.

Further expansion will take place between Macy’s and JCPenney, which is expected to add another 20 to 25 shops and restaurants.

Two new parking decks will also be built. One deck will include a two-level, 500-car parking lot and will be located beside Macy’s. The other deck will be a two-level, 700-car parking lot that will serve JCPenney, Dillard’s and the mall, according to the news release.

More about this story at KGBT-TV.

Houston: Pathmark takes 76,000 SF for Bed Bath and Beyond 

(5/20/2015)

HOUSTON - Pathmark Transportation, a logistics operator that handles goods for Bed Bath & Beyond and other major firms, has signed four leases totaling 334,000 sf of warehouse/distribution space to accommodate its growing business.

The most recent lease transaction was 76,234 sf at 14810 North Fwy. in Houston. This follows three leases in fourth quarter 2014 in Atlanta, Memphis and Orlando.

Pathmark’s expansion has been driven in part by the addition of Bed, Bath & Beyond to its client roster in selected markets.

“As a leader in the transportation solutions industry, Pathmark required quality industrial space that could support highly sophisticated distribution processes,” logistics aggregator Cameron Maness said.

Read more at Realty News Report.

See Houston Market Research for more industrial data.

MPF's early 2015 ranks DFW No. 5 in apartment leaders 

(5/20/2015)

DALLAS-FORT WORTH - The nation’s apartment demand volume in first quarter 2015 proved very impressive, according to Greg Willet at MPF Research.

Preliminary figures show that absorption across the country’s 100 largest metros came in at roughly 64,300 units, a jump of 55 percent from the demand tally seen during the initial three months of 2014.

Dallas-Fort Worth ranked No. 5:

Consistently the country’s top apartment demand market in recent years, North Texas is also adding more jobs than any other locale and is an active construction center.

Let’s look at the apartment demand leaderboard specifically for the January to March 2015 time frame. The nation’s apartment demand volume in first quarter 2015 proved very impressive. 

Helping push up those apartment absorption stats, job creation in early 2015 well exceeds the volume recorded in early 2014.

Viewed from the perspective of being the country’s top apartment demand market, the question might be why the area’s 1Q 2015 apartment demand total of 3,537 units, while fifth best nationally, is not bigger.

The answer is that demand for about 3,500 units is all the market could do given product availability.

Absorption came in a hair above the quarterly completion count, and occupancy in the existing product base is already at a 14-year high at the same time that annual rent growth is hitting an all-time record.

Looking to the remainder of 2015, the pace of apartment completions will accelerate in Dallas-Fort Worth, likely enabling North Texas to again take the top position for demand over the course of this year.

Be sure and see all the leaders at Property Managment Insider

Houston ranked No. 1; Miami ranked No. 2; Boston ranked No. 3; Austin ranked No. 4.

See Dallas-Fort Worth-Arlington Market Research and DFW NewsTalk multifamily.

Cushman & Wakefield: Austin Industrial Snapshot 1Q 2015 

(5/19/2015 8:00:00 AM)

AUSTIN - Austin experienced 199,547 sf of direct absorption across all industrial property types during first quarter 2015. Q1 2015 marked the eighth consecutive quarter of positive direct absorption for the total market, dating back to Q2 2013.

The Round Rock (RR) submarket posted the highest levels of absorption for Q1 2015, recording 85,241 sf of absorption.

The Q1 2015 overall vacancy rate was recorded at 9.6 percent, 0.9 percentage point higher than the Q4 2014 rate of 8.7 percent.

The average direct rental rate recorded for all industrial property types was $9.36 per sf for 1Q 2015, 4.0 percent higher than the average rental rate of $9.00 per sf in Q1 2014.

Austin Industrial Report 1Q 2015
Submarket Comparison
Submarket Inventory
SF
Overall
Vacancy
Rate
YTD Overall
Net Absorption
Central 18,900 0.0% 0
Far Northwest 4,480,259 4.5% 47,499
North Central 9,725,621 5.9% 69,509
Northeast 12,006,106 16.3% -35,818
Northwest 4,139,606 5.6% 59,053
South Central 1,434,649 3.6% -1,724
Southeast 9,223,111 8.8% 44,987
Southwest 272,660 17.6% -12,500
Round Rock 3,578,300 13.4% 85,241
Totals 45,050,853 9.6% 256,247


See Austin Industrial Snapshot 1Q 2015 (PDF) for the full report.

Don't miss out on Texas cities' industrial NewsTalk.

Easy find data at Austin Market Research.

NAR: Texas' median home prices jump in 1Q 2015 

(5/19/2015 7:45:00 AM)

TEXAS - Home prices were higher in all but 25 of the 170 U.S. home markets in first quarter 2015 when compared with 1Q 2014, according to the National Association of Realtors (NAR).

Austin and Dallas-Fort Worth were among 51 U.S. markets that saw double-digit home price gains. Austin home prices increased by 10.2 percent in 1Q 2015, while DFW jumped 10.1 percent.

The largest price increase in the country was in the Sherman-Denison area just north of Dallas, where median home prices in the Grayson County area were up 33.4 percent.

Nationwide prices rose 7.4 percent in 1Q 2015.

Preowned Home Price Changes 1Q 2015
Market Med. price
1Q 2015
Chg.
Y-O-Y
U.S. Median $205,200 7.4%
Biggest increases
Sherman-Denison, Tex. $123,400 33.4%
Port St. Lucie, Fla. $172,000 22.9%
South Bend, Ind. $102,100 19.1%
Largest declines
Cumberland, Md. $71,600 -12%
Pittsfield, Mass. $178,300 -11.7%
Elmira, N.Y. $102,300 -11.4%
Texas cities
Austin $249,100 10.2%
Dallas-Fort Worth $192,500 10.1%
Houston $200,300 8.5%
San Antonio $184,500 9.1%


Source: National Association of Realtors

Read more at the Dallas Morning News. Also, check out NewsTalk Housing.

Majestic Realty Co. buys 2,000 acres in Laredo 

(5/19/2015 7:43:00 AM)

LAREDO - Majestic Realty Co., the nation’s largest, privately-held real estate development company, has completed the acquisition of a 2000-acre land site from a subsidiary of Mercedes-Benz.

Majestic plans to redevelop the site with modern warehouse distribution space to support the growing international flow of commerce between Mexico and the United States, according to company officials.

Although early in the process, Majestic executives have begun master-planning the development with intent to put the first phase of development into production immediately.

Working cooperatively with the City of Laredo, Majestic seeks to provide local, national and multi-national users the facilities required to support Mexican trade flow of the nation’s No. 1 inland port.

Laredo recently advanced its rank and is the nation’s second largest customs district with annual U.S-Mexico trade totaling $280 billion, according to WorldCity.

To learn more about this story visit The Laredo Morning Times and Majestic Realty Co.

See the just released Texas Ports Of Entry 2015 (PDF).

Free data? See Laredo Market Research.

REOC: San Antonio 1Q 2015 retail overview 

(5/19/2015 7:30:00 AM)

SAN ANTONIO - The San Antonio retail market experienced a strong first quarter. San Antonio’s stable economy and growing population continue to support demand for retail space.

Over the past twelve months, the San Antonio metro area added nearly 32,000 jobs for an annual growth rate of 3.4 percent, according to the Texas Workforce Commission.

The 260,000-sf Phase V expansion at The Rim coupled with the completion of the 40,000-sf LA Fitness at The Vineyard accounted for the totality of 300,000 sf of new supply delivered to the market.

These additions also accounted for 60 percent of the total 488,934 sf of positive net absorption experienced.

The local retail market continues to make gains while developers remain steadfast in their efforts to lock in tenants before moving forward with too much construction.

REOC San Antonio: 1Q 2015 Retail*
All Types Citywide CBD / South Non-CBD / North
1Q 2014 1Q 2015 1Q 2014 1Q 2015 1Q 2014 1Q 2015
Inventory 46,999,000 47,211,587 6,365,096 6,244,326 40,633,904 40,967,261
Direct vacant 4,736,494 4,249,879 743,030 587,816 3,993,464 3,662,063
Vacant 10.1% 9.0% 11.7% 9.4% 9.8% 8.9%
Average rent $16.42 $16.51 $14.71 $15.29 $16.55 $16.61
1Q absorption 288,308 488,934 55,652 20,649 232,656 468,285
YTD absorption 288,308 488,934 55,652 20,649 232,656 468,285


*Statistics based on multi-tenant centers totaling 20,000 sf and larger (including both leaseable and separately owned inline space). Rental rates reflect non-weighted strict average asking rates quoted on an annual triple net basis (excluding regional malls).

Source: REOC San Antonio

Here's the full Quarterly Retail Report 1Q 2015.

Don't forget! Visit San Antonio-New Braunfels Market Research for more stats.

Sherman-Denison and Paris: TAR's 1Q 2015 housing report 

(5/19/2015)

SHERMAN-DENISON, PARIS - Texas Association of Realtors has released their Texas Quarterly Housing Report for first quarter 2015.

The Texas Quarterly Housing Report is compiled by the Real Estate Center at Texas A&M University using statistics from multiple listing services in nearly 50 markets throughout Texas.

The chart below shows statistics from the Sherman-Denison and Paris markets.

Sherman-Denison and Paris Housing Statistics
  Unit Sales Median Price Months Inventory
  1Q
2014
1Q
2015
YOY 
Chg.
1Q
2014
1Q
2015
YOY 
Chg.
1Q
2014
1Q
2015
YOY 
Chg.
Paris 78 88 12.82% $104,400 $90,000 -13.79% 9.30 8.00 -13.97%
Sherman-
Denison
278 345 24.10% $90,000 $120,300 33.66% 6.20 4.10 -33.87%


For the full report with all markets, see the Texas Quarterly Housing Report 1Q 2015 (PDF). For Paris and Sherman-Denison go to pages 37 and 42 on the PDF. The summaries for all markets start on page 50.

Tyler homes sales snap, crackle, pop! 

(5/19/2015)

TYLER - It is a seller’s market, as homes in Tyler and Smith County are being snapped up quickly and builders work hard to meet growing demand.

Drew Dunklin, a research analyst for the Appraisal District, says both indicators of supply of homes available and how long homes stay on the market are positive.

“The median days on market is the lowest I can find in the last 20 years or so, down to 42 days,” Dunklin said. “And supply is down to a record low, where it was in 2006–2007.”

Another indicator is how close a home’s final price is to the asking price.

Currently, Smith County has 5.3-month inventory, according to the Greater Tyler Association of Realtors.

Smith County Chief Appraiser Mike Barnett said his report on the real estate market shows high-end homes are hot right now.

“In the past, that upper end — anything over $300,000 — has been a very cautious market,” Barnett said. “But what we think is going on now is that those individuals ready to move up to those homes are in a financial situation to do so. There’s more confidence in the market and in the economy.

There are signs of a shortage of homes in the high end. That is largely because some of the existing high-dollar subdivisions are built-out, close to full."

Another niche market, the manufactured home division, also is showing interesting trends.

“We have 17,000 manufactured homes in Smith County,” Barnett said. “What we see in the manufactured home category is that many of those homes are selling at well more than $100,000 and $125,000."

Granted, the more typical manufactured home is coming in at $55,000 or $60,000. But homeowners, who are looking for more square feet, say 2,000 square feet and up, can get into it for considerably less.”

Construction of new homes in Smith County is nearing historical highs; construction peaked at around 1,000 homes built in each of the years 2005 and 2006. In 2014, Barnett said, Smith County added more than 800 new homes.

“We’ll exceed 1,000 in the coming year,” he said.

One factor keeping the housing market from getting too hot is a relatively tight credit market.

Keep reading at the Tyler Morning Telegraph.

For more, see GTAR: Tyler region home sales April 2015! Take advantage of free Tyler Market Research.

HAR Houston home sales improve across the board 

(5/19/2015)

HOUSTON - The Houston housing market saw across-the-board gains in April, with single-family home sales, total property sales, total dollar volume and pricing all up compared to April 2014.

Housing inventory stood at 2.9 months. According to the National Association of Realtors, the U.S. current supply of homes is 4.6 months.

“The Houston real estate market is doing quite well despite low inventory levels and concerns about the effects of declining oil prices,” said HAR Chair Nancy Furst with Berkshire Hathaway HomeServices Anderson Properties.

Demand for single-family homes and townhouse/condominiums for lease was flat in April. The average rent for a single-family home rose 5.9 percent to $1,764 and the average rent for a townhouse/condominium increased 8.0 percent to $1,595.

Housing Market Summary: Apr. 2015 vs. Apr. 2014
  April 2015 April 2014 Chg.
Total sales 7,907    7,788 1.5%
Total dollar volume $2,096,329,216 $1,977,514,048 6.0%
Total active listings 29,486 28,114 4.9%
Total pending sales 6,717 4,806 39.8%
Single-family sales 6,502 6,380 1.9%
Single-family home avg. price $281,724 $270,167 4.3%
Single-family home median price $209,790 $196,000 7.0%
Single-family inventory* 2.9 2.6 9.6%
 
*The numbers of month it will take to deplete current active inventory based on the prior 12 months of sales activity. The market is considered evenly balanced between supply and demand when it has a six-month inventory.
 

Read more at Greater Houston Partnership.

It's raining Houston Market Research, check it out.

Also, check out Houston NewsTalk.

Grapevine hauls in Kubota Tractor 

(5/19/2015)

GRAPEVINE - Kubota Tractor Corp. and Kubota Credit Corp. will move their headquarters from Torrance, Calif., to a 25-acre site northeast of Grapevine Mills mall on city-owned property.

The companies, subsidiaries of Kubota Corp. in Osaka, Japan, are under contract to buy the property from Grapevine, where they plan a 200,000-sf research and development and corporate center, said Bob Farley, the city’s economic development director.

Kubota said it will move to Grapevine — at Texas 121, Grapevine Mills Blvd. and Grapevine Mills Pkwy — in phases and wants to finish the relocation in about 18 months.

The headquarters move will put Kubota’s executives and professional staff closer to its major markets and its manufacturing, assembly and distribution facilities in Georgia and Kansas. Being in Texas will help Kubota respond faster to market and industry changes, the company said.

Kubota Tractor is the U.S. marketer and distributor of Kubota-engineered and -made machinery and equipment, performance-matched implements, compact and utility-class construction equipment, consumer lawn and garden equipment, hay tools and spreaders, commercial turf products and utility vehicles.

Read more at the Fort Worth Star-Telegram.

Greatbatch to relocate HQ to Plano Granite Park 

(5/19/2015)

PLANO - After relocating its corporate headquarters from Buffalo, New York, to Frisco two years ago, medical device maker Greatbatch Inc. is ready to expand and relocate its North Texas global headquarters to Plano's Granite Park.

The company signed a lease for at least 52,000 sf, or about two office floors, with the expectation it will bring up to 167 jobs to Plano.

Greatbatch plans to move from its Hall Office Park in Frisco location on or before April 1, 2016, and plans to hire those employees by the following year.

As part of the deal, the company's new headquarters adds $7.2 million on real property improvements and another $2 million in added business personal property to Plano.

The Plano Economic Development Department awarded $183,700 as an economic incentive on the deal.

Last year, Greatbatch's revenue was $688 million, with double-digit growth in certain sectors of its medical device business. The Frisco-based company employs about 3,600 workers throughout the globe.

Read more at the Dallas Business Journal.

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