PASADENA – Johnson Controls has signed a 29,954-sf industrial lease in a newly constructed facility at 4111 Greenshadow Dr. CBRE represented the tenant in lease negotiations. Lee & Associates represented the owner and developer, VIGAVI Realty LLC. Get more Houston-area office news on the Real Estate Center’s website: Houston-area industrial news Texas Quarterly Commercial Report Source: REBusiness […]
AUSTIN – H-E-B is opening a 130,000-sf store at 8801 S. Congress Ave. The store will have a Texas Backyard outdoor section and True Texas BBQ. Construction began in fall 2018 and will wrap up in April. It will open this summer. The Real Estate Center has more local commercial real estate news like this […]
THE WOODLANDS – A joint venture between Mill Creek Residential and QuadReal Property Group of Canada will develop the 429-unit Modera Six Pines apartments. The project will be on five acres at 8900 Six Pines Dr. Construction will take about two years to complete. Hodes Weill Securities is the financial adviser on the joint venture. The Real […]
A big challenge facing the housing industry is determining what impact the current pandemic may have on home values. Some buyers are hoping for major price reductions because the health crisis is straining the economy. The price of any item, however, is determined by supply and demand, which is how many items are available in […]
PLANO – ARCO/Murray has built a 31,000-sf coworking facility for Spaces at West Plano Village for Spaces. The facility includes more than 80 individual offices, common rooms, executive suites, phone booths, and a café with an attached patio. ARCO/Murray built the project. Regus acquired Spaces in 2015. The Real Estate Center has more on DFW’s office market: Dallas-area office news Texas Quarterly […]
AUSTIN – The local industrial market continued to slip as development peaked in the beginning of 2020. According to CBRE, average asking rates fell $0.24 quarter over quarter to $9.56 per sf. Vacancy increased 30 basis points to 10.8 percent. Absorption fell to 222,416 sf. Despite slackening fundamentals, developers have remained bullish on the […]
MONTGOMERY – Huntington Homes is developing a new neighborhood called Noble Greens at 109 Larkhaven Dr. The 39-site first phase will have 65-ft and 75-ft homesites. Homes prices will start in the $530,000s. Presales began in March, and the neighborhood will open fall 2020. The Real Estate Center has more information on housing: Texas Housing Insight Houston-area […]
AUSTIN – The local retail market slowed down in the beginning of 2020 amid COVID-19. Absorption went negative in 1Q2020, registering negative 3,310 sf of net demand, according to CBRE research. Overall occupancy increased 20 basis points quarter over quarter to 96 percent. Marketwide asking rates fell $0.75 per sf to $20.75. Despite fundamentals evening […]
DENTON – A six-property, 325-unit multifamily portfolio has been sold. The assets, built between 2009 and 2014, include: Locust 210 Lofts at 210 S. Locust St.; Victoria Heights at 417 S. Locust St.; Victoria Station at 214 S. Bell Ave.; Victoria Village at 401 S. Locust St.; The Adagio at 501 S. Locust St; and Locust Street Terrace Apartments […]
Some Highlights According to Lawrence Yun, Chief Economist at NAR, home prices are forecasted to rise. Results from the Existing Home Sales Report note that home sales declined in March due to the coronavirus, but prices are still strong. Let’s connect so you can better understand your home’s value today.
