NEW YORK – Two Texas cities have landed on SmartAsset’s list of the most vulnerable college towns during the COVID-19 pandemic. College Station, home to Texas A&M University, ranked second. More than 44 percent of the Brazos County city’s population are college students, the second-highest in the study. The city’s economy relies heavily on food service, and […]
AUSTIN – After 37 consecutive quarters of positive net absorption, the local office market registered negative 1.27 million sf in 2Q2020. According to CBRE, overall asking rates stabilized at $39.11 per sf after dropping to $36.64 in 1Q2020. Vacancy increased 190 basis points quarter over quarter from 10.9 percent to 12.8 percent. There are 33 projects totaling […]
For months now the vast majority of Americans have been asking the same question: When will the economy turn around? Many experts have been saying the housing market will lead the way to a recovery, and today we’re seeing signs of that coming to light. With record-low mortgage rates driving high demand from potential buyers, […]
DALLAS-FORT WORTH – As the COVID-19 crisis took shape, the data center industry was an early beneficiary, according to CBRE. North Texas was no exception. The first quarter saw 11.5 megawatts (MW) of net absorption across the metro as companies ramped up cloud requirements, network bandwidth, and remote computing capabilities in order to support the infrastructure […]
DALLAS – Eatery Essentials is moving its headquarters and primary manufacturing/warehousing operations to a 400,000-sf facility at 2425 Danieldale Rd. The move will create about 150 jobs. Operations will start in October. The Real Estate Center has more on DFW’s industrial market: Texas Quarterly Commercial Report Dallas-Fort Worth-Arlington industrial news North Texas office news Source: REBusiness Online
HOUSTON – High Street Residential, a subsidiary of Trammel Crow, has broken ground on a 43-story apartment tower downtown. The 309-unit community at 808 Crawford St. will include one-, two- and three-bedroom apartments, 16 two-story townhomes, and four two-story penthouses. Amenities will include a rooftop pool with lounge, clubroom with catering kitchen, business center with […]
EL PASO – Layton Construction Co. has broken ground on an Amazon fulfilment center near Eastlake Blvd between Rojas Dr. and I-10. The five-story building will sit on 115 acres and have more than three million sf of space. The Real Estate Center has more news like this: El Paso: Military and Manufacturing’s Influence on Housing Texas […]
AUSTIN – Local retail fundamentals began declining last quarter due to effects of COVID-19 on the local economy. According to CBRE, absorption continued falling in 2Q2020, registering negative 627,511 sf. Occupancy declined 80 bps over the quarter to 95.2 percent. Average asking rate also fell to $20.50 per sf. Despite sliding market fundamentals, development activity remained strong. […]
Inventory is arguably the biggest challenge for buyers in today’s housing market. There are simply more buyers actively looking for homes to purchase than there are sellers selling them, so the scale is tipped in favor of the sellers. According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), total […]
COLLEGE STATION – Initial unemployment insurance claims in Texas decreased to 95,600 last week as overall business activity remained in recovery mode. From March 21 to July 11, nearly 2.9 million claims were filed in Texas, according to data from the U.S. Department of Labor (DOL). Continuing unemployment claims increased the week of July 4 to 1.3 million as Governor Greg Abbott closed […]
