Texas

Texas Unemployment Rate Falls to 3.8 Percent, Lowest in Four Decades

by Taylor Williams October 22, 2018

AUSTIN, TEXAS — The unemployment rate in Texas has fallen to 3.8 percent, its lowest mark in four decades, according to a report from the Texas Workforce Commission (TWC). The latest data shows a decline of 10 basis points in the unemployment rate from August to September, as well as 15,600 nonfarm jobs added in September. The Texas economy has now experienced 27 consecutive months of job growth and 3.3 percent employment growth year-to date . In Texas’ service providing sector, financial activities added 5,800 positions over the month, and led all industries in job growth for September. Also within this sector, professional and business services added 2,500 jobs, followed by trade, transportation and utilities, which added 2,100.

October 22, 2018

Brennan Purchases Nine-Building Manufacturing Campus in Columbus, Texas in Sale-Leaseback Deal

by Taylor Williams October 22, 2018

COLUMBUS, TEXAS — Chicago-based Brennan Investment Group LLC has acquired a nine-building manufacturing campus situated on 15 acres at 200 Texas Ave. in Columbus, about 75 miles west of Houston. The properties were 100 percent leased to KW International, which produces oil and gas production and measurement equipment, at the time of sale. Brennan will lease back the space to the tenant, which houses its headquarters at the property.

October 22, 2018

Acquisitions Multifamily Texas

ClearWorth Capital Acquires 212-Unit Apartment Property in Metro Houston

by Taylor Williams October 22, 2018

CONROE, TEXAS — Multifamily investment firm ClearWorth Capital LLC has acquired Redford Park Apartments, a 212-unit multifamily property in Conroe, a northern suburb of Houston. Built in 1983, the property offers one- and two-bedroom units, as well as a tennis court, pool and resident clubhouse. ClearWorth Capital will implement a value-add program to the asset, the seller of which was not disclosed. Nathan Stone of Berkadia arranged acquisition financing for the deal.

October 22, 2018

Development Industrial Texas

Plastics Firm to Invest $10M in Production Facility in Metro Dallas

by Taylor Williams October 22, 2018

GARLAND, TEXAS — Plastipak Packaging, a Michigan-based supplier of plastic bottles to companies such as Dr. Pepper, PepsiCo and Kraft Heinz, will invest $10 million in its production facility in Garland, a northeastern suburb of Dallas. The expansion of the plant, which spans roughly 400,000 square feet and has been operational since 1996, is expected to create six new jobs.

October 22, 2018

Industrial Leasing Activity Texas

NAI Partners Arranges 30,000 SF Industrial Lease in Metro Houston

by Taylor Williams October 22, 2018

MISSOURI CITY, TEXAS— NAI Partners has arranged a 30,000-square-foot industrial lease at 14039 S. Gessner Road in Missouri City, a southwestern suburb of Houston. Darren O’Conor and Jake Wilkinson of NAI Partners represented the landlord, Roadrunner Ltd., in the lease negotiations. Wes Williams of Boyd Commercial represented the tenant, Almofa LLC, a Houston-based furniture supplier.

October 22, 2018

Development Multifamily Student Housing Texas

WGC Development Breaks Ground on 405-Bed Student Housing Property Near University of Houston

by Taylor Williams October 19, 2018

HOUSTON — WGC Development, in conjunction with an undisclosed institutional investor, has broken ground on Tower 5040, a 405-bed student housing community located near the University of Houston. The eight-story building will offer one-, two- and four-bedroom units. Select apartments will feature large balconies with fire pits. Shared amenities will include a swimming pool with an adjacent movie screen, a fitness center, conference room, business center, private study rooms, a game room, indoor and outdoor socializing areas and a dog park. Humphreys & Partners Architects designed the community, and Arch-Con Construction will handle construction. Nick Gonzalez of GRC Capital arranged equity and debt financing on behalf of the partnership. The property is set to open in summer 2020.

October 19, 2018

Development Multifamily Seniors Housing Texas

Sodalis to Build 73,777 SF Seniors Housing Community in College Station

by Taylor Williams October 19, 2018

COLLEGE STATION, TEXAS — Texas-based Sodalis Senior Living will build Sodalis College Station a 73,777-square-foot assisted living and memory care community that will be located less than three miles from Texas A&M University. The number of units was not disclosed, but the property will offer a mix of one-bedroom and studio residences. The official groundbreaking will take place on Wednesday, Oct. 24, and the opening is slated for late 2019.

October 19, 2018

Acquisitions Industrial Texas

Slater Sports Sells 62,132 SF Industrial Asset in Metro Houston

by Taylor Williams October 19, 2018

RICHMOND, TEXAS — Sporting goods provider Slater Sports LLC has sold 727 Plantation Drive, a freestanding, 62,132-square-foot industrial asset located in Richmond, a southwestern suburb of Houston. Burdette Huffman and Josh Jacobs of EDGE Realty Capital Markets represented Slater Sports in the transaction. Other terms of sale were not disclosed.

October 19, 2018

Leasing Activity Office Texas

Coworking Firm to Open 53,000 SF Space in Downtown Austin

by Taylor Williams October 19, 2018

AUSTIN, TEXAS — Coworking firm Spaces will open a 53,000-square-foot space at 501 Congress Ave. in downtown Austin. Kelly Woodruff and Mike Cleary of CBRE represented Spaces in the lease negotiations. Brent Powdrill of JLL represented the landlord, AFIAA U.S. Investment Inc. The space, which is the company’s first in Austin, will officially open during the third quarter of 2019. Spaces is a brand owned by Regus PLC, a Luxembourg-based coworking office operator with more than 3,000 business centers in 120 countries.

October 19, 2018

Acquisitions Industrial Texas

Marcus & Millichap Arranges Sale of 50,708 SF Industrial/Flex Building in Dallas

by Taylor Williams October 19, 2018

DALLAS — Marcus & Millichap has arranged the sale of a 50,708-square-foot industrial/flex property located at 13335 Floyd Circle in Dallas. Cody Payne and Wayne Bares of Marcus & Millichap represented the seller, a private investor, in the transaction. Payne procured the buyer, also a private investor. The property, which drew more than 15 offers and sold at list price, was 100 percent leased at the time of sale.

October 19, 2018

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