HOUSTON – Local office net absorption dropped to -577,000 sf in 1Q2020, the largest quarterly negative absorption since 2Q2018, according to CBRE. The overall vacancy rate increased 70 basis points from the previous quarter to 20 percent. Class A properties had negative absorption of 581,000 sf, but Class B buildings posted a positive absorption of 79,000 […]
SHENANDOAH – Sam Moon Group is working on a 94,140-sf Hyatt House Hotel in Metropark Square. The 148-room hotel will feature a dining and bar area, outdoor pool, fitness center, business center, market pantry, guest laundry room, and outdoor pool. There will be surface parking and covered parking in the nearby garage. The project began in late […]
COLLEGE STATION – In the week ending April 11, 266,064 initial unemployment insurance claims were filed in Texas, bringing the total since March 21 to over one million, according to the U.S. Department of Labor (DOL). The estimated unemployment rate across the state is 10.6 percent. Using data from the DOL and the Employment and Training Administration, the Real […]
THE WOODLANDS – David Weekley Homes will start construction this month on East Shore Landing. Located within East Shell Port Square, the new section of the masterplanned community has been dubbed The Garden District of The Woodlands. The 59 homes will range from 2,200 to 3,100 sf. The Real Estate Center has more information on housing: […]
Some Highlights: A recent realtor.com survey revealed that buyers are still considering moving forward with the homebuying process, even if they can’t see the home in-person. While they still prefer to physically see a home, virtual home tours and accurate listing information top the list of tech specs buyers find most helpful in today’s process. […]
TOMBALL – The Tomball Economic Development Corporation has acquired 41,076 sf of industrial space at 202 and 204 S. Live Oak St. The 6.2 acres include two warehouses and vacant land, which is slated for a mixed-use development. One warehouse is currently leased. The second vacant facility will be up for lease in the near future. The […]
MANVEL – Chesmar Homes and Plantation Homes are nearing completion of phase two at Meridiana, Rise Communities’ development off SH 288 and Meridiana Pkwy. Chesmar is offering three- and four-bedroom homes ranging from 1,901 to 2,746 sf and starting in the $250,000s. Plantation is building homes from 2,412 to 3,490 sf starting in the $310,000s. Both builders […]
ROUND ROCK – Bee Safe Storage and Wine Cellar has opened an 80,000-sf facility at 510 S. I-35. The property has 28 wine storage units and more than 580 climate-controlled storage units. The company is building a second location at 1405 N. I-35. The Real Estate Center has more local commercial real estate news like […]
AUSTIN – The local housing market held steady in March amid shelter-in-place orders, according to the Austin Board of Realtors (ABoR). In March, residential sales increased 2.2 percent year over year to 3,042 sales. Median price increased 11.7 percent to $335,200. Monthly inventory declined 0.7 months to 1.6 months. The Real Estate Center considers six to […]
DALLAS – WindMass Capital Partners has purchased two multifamily properties—Vineyards at the Ranch I & II and Beacon Hill—in Lake Highlands. The two properties represent a combined 1,656-unit community spread across 38.62 acres. NorthMarq brokered the transactions. DP Partners LTD PS sold Beacon Hill Apartments. Stone Ranch Owner/Stone Ranch Owners Two LLC was the seller of Vineyards at […]
