FORT WORTH – Red Oak Apartments, a 108-unit multifamily community at 6301 Woodway Dr., has been purchased via a 1031 exchange. Built in 1969 and renovated in 1993, the property offers studio and one- to four-bedroom units. Marcus & Millichap brokered the transaction. The Real Estate Center has more information like this online for free: Texas Quarterly Apartment Report Dallas-area multifamily news Source: […]
SAN ANTONIO – H-E-B is developing a ten-story parking garage with 10,000 sf of ground-floor office space at 641 S. Flores St. The 928-spacce garage will be connected to the rest of H-E-B’s three-story culinary school campus via a pedestrian bridge. The Real Estate Center has more on San Antonio’s office market: San Antonio-New Braunfels office news Texas […]
DALLAS – Developer Ray Washburne will repurpose the former Dallas Morning News property on Young St. into a mixed-use project. The original building will be used for a 130-room luxury boutique hotel, while other parts of the campus will be repurposed for restaurants, entertainment, and residential uses. The former printing presses that are on the lower […]
Over the past several weeks, Freddie Mac has reported the average 30-year fixed mortgage rate dropping to record lows, all the way down to 3.03%. Last week’s reported rate reached the lowest point in the history of the survey, which dates back to 1971 (See graph below): What does this mean for buyers? This is […]
Even if you’ve sold a home before, deciphering real estate jargon can still seem impossible. There’s a lot of unique terminology you should know if you want to make the most of your sale, which means it’s crucial to be well-versed in some of the most common home selling terms before you list. If you’re […]
EL PASO – Despite the COVID-19 pandemic, the local industrial market remained strong in 2Q2020, according to CBRE. The market closed the quarter with 134,955 sf of net absorption. Although net absorption fell quarter over quarter, total 2020 mid-year absorption was 120,000 sf above 2019 mid-year absorption. Vacancy rose by 20 bps quarter over quarter, […]
KATY – Houston-based Transwestern Development Co. has sold a 238,000-sf distribution center to Austin-based Stonelake Capital Partners. The facility at 28420 West Ten Blvd. is fully leased to Amazon Inc. It is the final phase of Transwestern and UBS Realty Investors’ 41-acre West Ten Business Park. The sale also includes a 15-acre surface parking lot and 14 […]
HOUSTON – A financial services firm has signed a 250,000-sf lease in the JPMorgan Chase Tower, the city’s tallest office building. The 75-story office tower at 600 Travis St. was purchased by Hines and Cerberus Capital Management. The owners are renovating the project. St. Louis-based HOK designed the renovation. Get more Houston-area office news on the Real Estate […]
DALLAS-FORT WORTH – Atlanta-based Asbury Automotive Group has purchased eight Park Place Dealerships in Dallas, Fort Worth, and Arlington for $735 million. Park Place will retain control of certain Mercedes-Benz, Rolls-Royce, Porsche, Maserati, and Aston Martin stores. The Real Estate Center has more on DFW’s retail market: Texas Quarterly Commercial Report DFW retail news Source: Connect Media
HOUSTON – Local office vacancy rose half a percentage point over the quarter in 2Q2020, up 70 basis points compared with this time last year, according to NAI Partners. Overall net absorption totaled negative 852,000 sf. Of the 4.1 million sf currently under construction, 52.8 percent of that space has been spoken for. So far this year, nine properties […]
