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Category Archives: Texas

Industrial Strength: 158 Warehouses Under Construction in Texas

HOUSTON – Texas is in the midst of a warehouse boom. CBRE Research reports 158 large industrial buildings were under construction in the state during the second quarter of 2015. Dallas, a major retail distribution hub, leads the way with 14 million square feet of industrial space under construction, CBRE reported. Houston, riding the wave of a petrochemical growth, has ... Read More »

Aggie Mega-Dorm: 1,300-Unit Project to be Largest Student Housing Project in Nation

COLLEGE STATION, Texas — Park West, a massive 1,300-unit 1.8 million-square-foot student housing project at Texas A&M University will be the largest student housing complex in the nation, according to the Weitz Co., the design-builder. The largest student housing complex in the country to date, the Park West will accommodate 3,402 students in more than 1,300 units ranging from studios to four ... Read More »

Pollo Tropical Restaurants Expanding in Texas

HOUSTON – The Pollo Tropical fast-casual restaurant chain is expanding in Texas. “We set our sights on Texas in 2014 with the opening of our first location in Addison, and the response to our brand in the Lone Star State has been great,” said Pollo Tropical Chief Operating Officer Danny Meisenheimer. “We now have 19 Texas restaurants and have four ... Read More »

More Than Books: New Austin Library Part of Downtown Surge

AUSTIN – The new Austin Central Library, offering much more than books, is part of a wave of new development in downtown Austin. “The Central Library and café are in the center of a tremendous amount of new construction activity along West Second Street, including the Seaholm project, North Shore mixed-use development, 500 West Second Street and the proposed Austin ... Read More »

Economic Indicators: Pizza and Population

HOUSTON – More than 1,200 people a day relocate to Texas from other states, drawn by consistent job growth for the last four years. CBRE Research reports the population growth has an unforeseen side effect – an influx of pizza outlets. An excerpt from CBRE Marketflash: “Austin, Dallas/Fort Worth (DFW), Houston and San Antonio are among the fastest-growing metros in ... Read More »

Houston Added 57,000 New Jobs in Last 12 Months

HOUSTON – Houston has gained 57,000 new jobs over the last 12 months, including 4,300 new jobs in June, the Texas Workforce Commission reported. Although Houston has lost jobs in the manufacturing sector, the overall unemployment rate is low. The unemployment rate stood at 4.3 percent in June, an improvement from 5.3 percent a year earlier. Houston gained over 100,000 ... Read More »

The Texas Real Estate Market Has Not Withered Away

A word on the Lone Star State: The Texas real estate market has not withered away following the remarkable decline in oil prices over the last year. A significant number of new developments are underway in Texas: a $1 billion 750,000 square-foot Facebook data center is under construction in Fort Worth; a 4 million square-foot Daikin HVAC manufacturing plant being ... Read More »

Whitestone REIT Buys Austin Retail Centers for $45M

AUSTIN — Whitestone REIT of Houston has acquired Parkside Village North and Parkside Village South in Austin for $45 million. The two centers, near the entrance of the Circle C Ranch community off the Mopac Expressway, are 100 percent leased and contain a total of 117,146 square feet. “With this acquisition closed, we have now invested $135 million in the Austin ... Read More »

Texas Property Tax Appraisal Methods Often Fail to Reflect Market Value

HOUSTON — The Harris County Appraisal District, and other agencies that appraise private properties for tax purposes, have increased property appraisals sharply using mass appraisal methodology that often fails to reflect actual market value for commercial properties, according to the Deal Sikes & Associates real estate valuation firm. “HCAD’s mass appraisals tend to be inconsistent and we often see a ... Read More »

Bulletproof: Despite Oil Crash, Texas Home Sales Surge in First Quarter; Inventory at All-Time Low

AUSTIN – The Texas residential markets remained immune to the drastic fall in oil prices, as the Lone Star State posted exceptionally strong home sales in the first quarter of 2015, the Texas Association of Realtors reported. The inventory of homes for sale fell to an all-time low. With oil falling from $107 a barrel last summer to less than ... Read More »

Former Bombay Co. HQ Building Purchased by Transwestern Investment Group

FORT WORTH – The former Bombay Co. headquarters building in Fort Worth has been purchased by Transwestern Investment Group, on behalf of Diversified International Partners. CBRE Capital Markets announced the sale of 550 Bailey, a recently renovated, Class A office in Fort Worth’s Cultural District. The seven-story, 122,828-square-foot asset was completely renovated in 2008 and once served as headquarters for ... Read More »

Sale of AmREIT Firm Approved: Closing of Deal in Late Feb.

HOUSTON —  Shareholders of AmREIT Inc., a Houston-based real estate development firm, have approved the sale of AmREIT to South Carolina-based Edens Investment Trust. AmREIT controls a number of significant retail centers and mixed-use projects including the Uptown Park, a major Houston center that is undergoing a major redevelopment and high-rise densification. The deal will close between Feb. 18 and Feb ... Read More »

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