REDNews Social Media Series Presentation April 30th, 2010
Download the complete presentation here.
Thursday, April 29, 2010
Wednesday, April 28, 2010
Tyco Flow Control to expand operations in Rio Grande Valley
Apr. 23, 2010
Info from San Antonio Business Journal:
Tyco Flow Control broke ground this week on a $5 million expansion in Harlingen, Texas in the border region of South Texas. The investment will add 33,000 square feet of space to the company’s existing 80,000 square feet of space in the Harlingen Industrial Park. Tyco Flow Control, a business unit of Tyco International Ltd., manufactures valves and controls and distributes products to customers in more than 60 countries.
Info from San Antonio Business Journal:
Tyco Flow Control broke ground this week on a $5 million expansion in Harlingen, Texas in the border region of South Texas. The investment will add 33,000 square feet of space to the company’s existing 80,000 square feet of space in the Harlingen Industrial Park. Tyco Flow Control, a business unit of Tyco International Ltd., manufactures valves and controls and distributes products to customers in more than 60 countries.
CA investor buys $43M in Austin real estate
Apr. 22, 2010
Info from Austin Business Journal:
A California-based equity investor has picked up a $42.9 million, 704,000 square foot portfolio of Austin commercial real estate. PS Business Parks Inc. paid cash in the sale closed Wednesday, according to a release. The deal includes three business parks with multi-tenant flex space — meaning warehouse or office use — in 13 separate single-story buildings. The release said the deal also expands the companies reach in a park where it already owns property. The entire portfolio is about 88 percent leased with average contracts of 15,900 square feet.
Info from Austin Business Journal:
A California-based equity investor has picked up a $42.9 million, 704,000 square foot portfolio of Austin commercial real estate. PS Business Parks Inc. paid cash in the sale closed Wednesday, according to a release. The deal includes three business parks with multi-tenant flex space — meaning warehouse or office use — in 13 separate single-story buildings. The release said the deal also expands the companies reach in a park where it already owns property. The entire portfolio is about 88 percent leased with average contracts of 15,900 square feet.
(Humble,TX) Investcorp nabs 348,542-SF power center
Apr. 26, 2010
Info from Globe St.:
HUMBLE, TX - Investcorp Real Estate has acquired Deerbrook Marketplace, a 348,542-square- foot power center, for an undisclosed amount.
The New York City-based investor, which is the U.S.-based real estate arm of alternative investment manager Investcorp, bought the retail property from DRA Realty Advisors, also of New York City. With the acquisition of Deerbrook Marketplace, Investcorp now owns more than 20 properties in the Houston metro area.
Info from Globe St.:
HUMBLE, TX - Investcorp Real Estate has acquired Deerbrook Marketplace, a 348,542-square- foot power center, for an undisclosed amount.
The New York City-based investor, which is the U.S.-based real estate arm of alternative investment manager Investcorp, bought the retail property from DRA Realty Advisors, also of New York City. With the acquisition of Deerbrook Marketplace, Investcorp now owns more than 20 properties in the Houston metro area.
(Hutchins, TX) American Standard consolidates in 626,100 square feet
Apr. 26, 2010
Info from Globe St.:
HUTCHINS, TX - In one of the largest industrial deals this year, American Standard Brands has leased a 626,100-square-foot warehouse from Duke Realty Corp. The company, which manufactures a wide range of kitchen and bath products, will consolidate the distribution operations of three facilities in San Antonio into Intermodal I at 800 E. Wintergreen Rd. The building, which will be 100 percent occupied by American Standard, will be used as a distribution warehouse for the south and central regions of the United States.
Info from Globe St.:
HUTCHINS, TX - In one of the largest industrial deals this year, American Standard Brands has leased a 626,100-square-foot warehouse from Duke Realty Corp. The company, which manufactures a wide range of kitchen and bath products, will consolidate the distribution operations of three facilities in San Antonio into Intermodal I at 800 E. Wintergreen Rd. The building, which will be 100 percent occupied by American Standard, will be used as a distribution warehouse for the south and central regions of the United States.
(Houston, TX) Food manufacturer gobbles up 22,000 square feet in Houston
Apr. 28, 2010
Info from Globe St.
HOUSTON - A manufacturer of Mediterranean products and other natural gourmet foods, Pita Pal Industries Inc., has inked a five-year lease for 22,200 square feet of warehouse and office space. Pita Pal will relocate to its new space at 941 West 18th St. from an existing facility at 4025 Willowbend Blvd. Cushman and Wakefield represented Pita Pal in the transaction, along with James Foreman and Cape Bell, also of Cushman & Wakefield. Mike Hill of Michael Hill Properties represented the local landlord, Kervin Jacob Family Ltd.
Info from Globe St.
HOUSTON - A manufacturer of Mediterranean products and other natural gourmet foods, Pita Pal Industries Inc., has inked a five-year lease for 22,200 square feet of warehouse and office space. Pita Pal will relocate to its new space at 941 West 18th St. from an existing facility at 4025 Willowbend Blvd. Cushman and Wakefield represented Pita Pal in the transaction, along with James Foreman and Cape Bell, also of Cushman & Wakefield. Mike Hill of Michael Hill Properties represented the local landlord, Kervin Jacob Family Ltd.
Houston Food Bank finalizes plans for its new home
Apr. 27, 2010
Info from Houston Chronicle:
The Houston Food Bank has purchased a facility from Sysco Foods that it will renovate into its new warehouse and headquarters. Located at 535 Portwall off Interstate 10 East, the property will be the nation's largest food bank in terms of square footage, according to the organization, which paid $17 million for the facility. The deal has been in the works since 2007.
Info from Houston Chronicle:
The Houston Food Bank has purchased a facility from Sysco Foods that it will renovate into its new warehouse and headquarters. Located at 535 Portwall off Interstate 10 East, the property will be the nation's largest food bank in terms of square footage, according to the organization, which paid $17 million for the facility. The deal has been in the works since 2007.
Texas existing home sales, prices up in March
Apr. 27, 2010
Info from Real Estate Center via RECON:
A total of 19,330 existing single-family homes were sold in Texas last month, up 16 percent from March 2009, according to MLS data compiled by the Real Estate Center at Texas A&M University. The median price was up 4 percent to $144,600 during the same period, and the state finished the month with a 7.1-month inventory of existing homes.
Info from Real Estate Center via RECON:
A total of 19,330 existing single-family homes were sold in Texas last month, up 16 percent from March 2009, according to MLS data compiled by the Real Estate Center at Texas A&M University. The median price was up 4 percent to $144,600 during the same period, and the state finished the month with a 7.1-month inventory of existing homes.
Domain Phase II opens in Austin
Apr. 23, 2010
Info from Austin Business Journal via RECON:
AUSTIN – Grand opening of The Domain Phase II was held Friday, bringing 136,000 sf or retail and restaurants. Simon Property Group hosted a soft opening in February, but Friday marked the official opening of its mixed-use property, anchored by Dick’s Sporting Goods, Dillard’s and Gold Class Cinema. The Domain is also home to 438 residential units and 78,000 sf of office space. When complete, the 175-acre development will include over three million sf of office space, 4,000 residential units, 900,000 sf of retail space and two hotels.
Info from Austin Business Journal via RECON:
AUSTIN – Grand opening of The Domain Phase II was held Friday, bringing 136,000 sf or retail and restaurants. Simon Property Group hosted a soft opening in February, but Friday marked the official opening of its mixed-use property, anchored by Dick’s Sporting Goods, Dillard’s and Gold Class Cinema. The Domain is also home to 438 residential units and 78,000 sf of office space. When complete, the 175-acre development will include over three million sf of office space, 4,000 residential units, 900,000 sf of retail space and two hotels.
(Houston, TX) Westwood takes Memorial Collection
Apr. 25, 2010
Info from Houston Chronicle via RECON:
HOUSTON – Westwood Financial Corp. has purchased the 103,000-sf Memorial Collection Shopping Center from Regency Centers. The 1974 retail center sits on nearly 11 acres at Memorial Dr. and Dairy Ashford. Memorial Collection was renovated In 1999 and was 96 percent leased when sold, anchored by Randalls and Walgreens. Grubb & Ellis Co. represented the seller.
Info from Houston Chronicle via RECON:
HOUSTON – Westwood Financial Corp. has purchased the 103,000-sf Memorial Collection Shopping Center from Regency Centers. The 1974 retail center sits on nearly 11 acres at Memorial Dr. and Dairy Ashford. Memorial Collection was renovated In 1999 and was 96 percent leased when sold, anchored by Randalls and Walgreens. Grubb & Ellis Co. represented the seller.
Grant pushes Bryan industrial park forward
Apr. 27, 2010
Info from The Eagle via RECON:
BRYAN – A schematic layout and operations budget for a planned industrial park are being drawn up after the city and Brazos County were given a $1.5 million federal grant to stimulate its development. The project, on the east side of Hwy. 6 north of FM 2818, was stalled while the development group sought funding for a railroad spur. The group, which includes the City of Bryan and the Brazos County Economic Development Foundation Inc., is designing the park to bring light industrial and manufacturing companies to the area.
Info from The Eagle via RECON:
BRYAN – A schematic layout and operations budget for a planned industrial park are being drawn up after the city and Brazos County were given a $1.5 million federal grant to stimulate its development. The project, on the east side of Hwy. 6 north of FM 2818, was stalled while the development group sought funding for a railroad spur. The group, which includes the City of Bryan and the Brazos County Economic Development Foundation Inc., is designing the park to bring light industrial and manufacturing companies to the area.
Cimarron takes shape in El Paso
Apr. 25, 2010
Info from The El Paso Times via RECON:
EL PASO – Developer Hunt Communities is moving forward on its 800-acre Cimarron project, the city’s first master-planned community. Since construction began in summer 2008, 160 custom homes have been built or are currently under construction in Cimarron’s first, 285-lot subdivision, The Falls at Cimarron. Another 180 lots have been sold in this first phase, where homes range between $200,000 and $300,000. When complete in about ten years, Cimarron will have about 2,000 homes in the foothills.
Info from The El Paso Times via RECON:
EL PASO – Developer Hunt Communities is moving forward on its 800-acre Cimarron project, the city’s first master-planned community. Since construction began in summer 2008, 160 custom homes have been built or are currently under construction in Cimarron’s first, 285-lot subdivision, The Falls at Cimarron. Another 180 lots have been sold in this first phase, where homes range between $200,000 and $300,000. When complete in about ten years, Cimarron will have about 2,000 homes in the foothills.
(Irving, TX) Irving Villas open next year
Apr. 26, 2010
Info from The Dallas Morning News via RECON:
IRVING – Houston-based developer Hines and New York–based GoldenTree InSite Partners have purchased 24 acres near LBJ Fwy. for a 92-lot residential community. The Villas at Emerald Park will be complete in January and will have houses between 2,200 and 4,000 sf starting at $350,000. The partnership has sold all of the project’s lots to Meritage Homes Corp. for construction.
Info from The Dallas Morning News via RECON:
IRVING – Houston-based developer Hines and New York–based GoldenTree InSite Partners have purchased 24 acres near LBJ Fwy. for a 92-lot residential community. The Villas at Emerald Park will be complete in January and will have houses between 2,200 and 4,000 sf starting at $350,000. The partnership has sold all of the project’s lots to Meritage Homes Corp. for construction.
Plants now powering Nueces County
Apr. 26, 2010
Info from Corpus Christi Caller-Times via RECON:
CORPUS CHRISTI – Grand openings of the Nueces Bay power plant and the Barney Davis power plant were held yesterday, although the two facilities have been delivering 1,300 megawatts of energy since March. Topaz Power Group of Austin invested $1 billion in upgrades to the Nueces Bay plant, on Navigation Blvd., and the Barney Davis plant, in Flour Bluff. The plants will power 600,000 households in Nueces County and beyond.
Info from Corpus Christi Caller-Times via RECON:
CORPUS CHRISTI – Grand openings of the Nueces Bay power plant and the Barney Davis power plant were held yesterday, although the two facilities have been delivering 1,300 megawatts of energy since March. Topaz Power Group of Austin invested $1 billion in upgrades to the Nueces Bay plant, on Navigation Blvd., and the Barney Davis plant, in Flour Bluff. The plants will power 600,000 households in Nueces County and beyond.
Friday, April 23, 2010
The Lone Star State adds 8500 new jobs
Apr. 16, 2010
Info from Dallas-Fort Worth Economy blog:
Texas employers expanded payrolls by 8,500 jobs in March, while the jobless rate remained unchanged at 8.2 percent for the fifth month in a row, the Texas Workforce Commission said Friday. Instead of losing 13,000 payrolls jobs in February, as preliminary data indicated last month, the state added 4,300 jobs.
Texas has added 32,500 jobs during the last six months, and the state unemployment rate remains well below the national average of 9.7 percent.
Info from Dallas-Fort Worth Economy blog:
Texas employers expanded payrolls by 8,500 jobs in March, while the jobless rate remained unchanged at 8.2 percent for the fifth month in a row, the Texas Workforce Commission said Friday. Instead of losing 13,000 payrolls jobs in February, as preliminary data indicated last month, the state added 4,300 jobs.
Texas has added 32,500 jobs during the last six months, and the state unemployment rate remains well below the national average of 9.7 percent.
Texas is home to 57 Fortune 500 companies
Apr. 16, 2010
From Wire Reports:
Texas and California lead the nation as headquarters to Fortune 500 companies, with each state placing 57 firms in this year's ranking. Among cities, New York remained the undisputed king, with 42 major companies' headquarters. Houston and Dallas ranked second and third, respectively.
Two dozen Fortune 500 companies call Houston home, and a dozen are based in Dallas. The Dallas-Fort Worth metropolitan area placed 24 companies on this year's list.
From Wire Reports:
Texas and California lead the nation as headquarters to Fortune 500 companies, with each state placing 57 firms in this year's ranking. Among cities, New York remained the undisputed king, with 42 major companies' headquarters. Houston and Dallas ranked second and third, respectively.
Two dozen Fortune 500 companies call Houston home, and a dozen are based in Dallas. The Dallas-Fort Worth metropolitan area placed 24 companies on this year's list.
San Antonio makes over vacant spots for Hispanic shoppers
Apr. 15, 2010
From mysanantonio.com:
Two San Antonio retail projects are jumping on a concept that repurposes vacant big-box locations as marketplaces intended to attract Hispanic shoppers. The marketplace at Wonderland of the Americas, the mall at Loop 410 and Interstate 10 formerly known as Crossroads of San Antonio, and Tianguis Mall, which will be located in a former Walmart on Southeast Military Drive, will feature small retail spaces in a marketlike atmosphere available for short-term rents.
From mysanantonio.com:
Two San Antonio retail projects are jumping on a concept that repurposes vacant big-box locations as marketplaces intended to attract Hispanic shoppers. The marketplace at Wonderland of the Americas, the mall at Loop 410 and Interstate 10 formerly known as Crossroads of San Antonio, and Tianguis Mall, which will be located in a former Walmart on Southeast Military Drive, will feature small retail spaces in a marketlike atmosphere available for short-term rents.
Kohl's moves in to San Antonio
4/23/2010
Info from globefest.com
Kohl’s Department Stores Inc. has signed a long-term lease for 102,000 sf in the Westover Hills Corporate Park. The Wisconsin-based retail chain will use the Class-A Westover Office Center as its customer service and operations center.
The two-story office building at 10000 Rogers Rd. was completed in fourth quarter 2008 and is LEED Silver certified. The asking rent was $15.75 per sf, triple net basis.
Info from globefest.com
Kohl’s Department Stores Inc. has signed a long-term lease for 102,000 sf in the Westover Hills Corporate Park. The Wisconsin-based retail chain will use the Class-A Westover Office Center as its customer service and operations center.
The two-story office building at 10000 Rogers Rd. was completed in fourth quarter 2008 and is LEED Silver certified. The asking rent was $15.75 per sf, triple net basis.
PS Business Parks makes big Austin purchase
4/22/2010
Info from Austin Business Journal
California-based PS Business Parks Inc. has purchased 704,000 sf of local commercial real estate worth $42.9 million. The cash deal includes three business parks with multitenant flex space in 13 single-story buildings. The entire portfolio is about 88 percent leased, with an average of 15,900 sf per contract. With this purchase, PS Business Parks now owns about 1.5 million sf of multitenant flex space in nine Austin business parks.
Info from Austin Business Journal
California-based PS Business Parks Inc. has purchased 704,000 sf of local commercial real estate worth $42.9 million. The cash deal includes three business parks with multitenant flex space in 13 single-story buildings. The entire portfolio is about 88 percent leased, with an average of 15,900 sf per contract. With this purchase, PS Business Parks now owns about 1.5 million sf of multitenant flex space in nine Austin business parks.
Texas apartment rentals on the decline
4/23/2010
Info from ALN Systems
The number of apartments rented statewide fell 1 percent between March 2009 and the same month in 2010, according to the latest figures from ALN. Meanwhile, rents fell 1.5 percent.
Info from ALN Systems
The number of apartments rented statewide fell 1 percent between March 2009 and the same month in 2010, according to the latest figures from ALN. Meanwhile, rents fell 1.5 percent.
(Houston, TX) 919 Milam goes back to lender
4/22/2010
Info from Houston Chronicle
Downtown Houston's 919 Milam office building has gone back to its lender through a deed in lieu of foreclosure. Chicago-based Transwestern Investment Co. bought the building from Hines in 2007. The property has nearly 543,000 rentable sf.
Info from Houston Chronicle
Downtown Houston's 919 Milam office building has gone back to its lender through a deed in lieu of foreclosure. Chicago-based Transwestern Investment Co. bought the building from Hines in 2007. The property has nearly 543,000 rentable sf.
H-E-B bringing new concept store to Houston
4/23/2010
Info from Houston Chronicle
San Antonio–based H-E-B is planning its third location in The Woodlands, and is preparing to open its new concept store, Joe V’s Smart Shop, in Houston. The grocer has purchased 15 acres in The Village of Alden Bridge at FM 1488 and Kuykendahl Rd. in The Woodlands for a future location.
Joe V’s will be a smaller grocery, carrying about 9,000 items, compared with a traditional supermarket’s 37,000. The chain will provide produce and self-serve meat, as well as seafood and bakery departments.
Info from Houston Chronicle
San Antonio–based H-E-B is planning its third location in The Woodlands, and is preparing to open its new concept store, Joe V’s Smart Shop, in Houston. The grocer has purchased 15 acres in The Village of Alden Bridge at FM 1488 and Kuykendahl Rd. in The Woodlands for a future location.
Joe V’s will be a smaller grocery, carrying about 9,000 items, compared with a traditional supermarket’s 37,000. The chain will provide produce and self-serve meat, as well as seafood and bakery departments.
Builders busy buying North Texas lots
4/22/2010
Info from The Dallas Morning News
Home starts in North Texas have increased by over 50 percent so far this year, and builders and developers are busy snatching up lots across the area. Since 2006, over two dozen major builders have left the North Texas market, said Ted Wilson of Dallas-based Residential Strategies Inc.
"As a result, there has been a scramble by the remaining builders to pick up the best-quality lots that were suddenly available," he said.
Info from The Dallas Morning News
Home starts in North Texas have increased by over 50 percent so far this year, and builders and developers are busy snatching up lots across the area. Since 2006, over two dozen major builders have left the North Texas market, said Ted Wilson of Dallas-based Residential Strategies Inc.
"As a result, there has been a scramble by the remaining builders to pick up the best-quality lots that were suddenly available," he said.
Another Run at Otto's
March 25, 2010
Info from The Houston Chronicle:
Ponderosa Land Development Co. is under contract to buy the Memorial Drive strip center that houses Otto's along with an adjacent parcel occupied by Bibas Greek Pizza.
The developer plans to build a two-story retail and office project with about 22,000 square feet on the nearly two-acre parcel at Memorial Drive at Reinecke. The value of the Memorial parcel has come down since it was last up for sale in 2007 for more than $110 per square foot.
Info from The Houston Chronicle:
Ponderosa Land Development Co. is under contract to buy the Memorial Drive strip center that houses Otto's along with an adjacent parcel occupied by Bibas Greek Pizza.
Friday, April 09, 2010
Houston Economy at a Glance
Apr. 15, 2010
Info from the Greater Houston Partership:
March brought the Texas Workforce Commission’s preliminary estimates of employment by industry for February, its initial revisions for January and the annual benchmark revisions, which affected all months of ’08 and ’09. The benchmark revisions often paint a vastly different picture of the preceding year or more, and this year was no exception. For more, visit the link above.
Info from the Greater Houston Partership:
March brought the Texas Workforce Commission’s preliminary estimates of employment by industry for February, its initial revisions for January and the annual benchmark revisions, which affected all months of ’08 and ’09. The benchmark revisions often paint a vastly different picture of the preceding year or more, and this year was no exception. For more, visit the link above.
Wednesday, April 07, 2010
Apartment Complexes- What the Big Wigs Are Saying
REDNews just stuffed our collective belly at the O’Connor apartment forecast lunch and heard some pretty insightful tidbits while we were at it.
The lunch was at Houston’s Courtyard on St. James. The speakers were Ken Lawrence of LMI Capital and Geoff Simpson of The M. Kaplan Companies. Apparently a lot of people were interested in what they had to say, because this was one of the more widely attended forecast luncheons REDNews has seen in a while.
Lawrence said he recently completed a deal where he had to go through 30-35 lenders to find three or four worth working with. Even then, it was only at a loan to value ratio of 75%.
Simpson said he believes the market is bottoming (yay!). He said there is $168 billion out there just waiting. When it comes to purchasing, Simpson says buyers should be looking at a property’s cash flow potential and not thinking of it as a commodity.
If only there were 168 billion in doughnuts just waiting for REDNews. When is the next forecast luncheon?
The lunch was at Houston’s Courtyard on St. James. The speakers were Ken Lawrence of LMI Capital and Geoff Simpson of The M. Kaplan Companies. Apparently a lot of people were interested in what they had to say, because this was one of the more widely attended forecast luncheons REDNews has seen in a while.
Lawrence said he recently completed a deal where he had to go through 30-35 lenders to find three or four worth working with. Even then, it was only at a loan to value ratio of 75%.
Simpson said he believes the market is bottoming (yay!). He said there is $168 billion out there just waiting. When it comes to purchasing, Simpson says buyers should be looking at a property’s cash flow potential and not thinking of it as a commodity.
If only there were 168 billion in doughnuts just waiting for REDNews. When is the next forecast luncheon?
Thursday, April 01, 2010
Big Bang for Your Advertising Buck
REDNews has long been your Texas CRE source and now we’re going national. Via e-mail, that is. Our national e-mail blasts are netting BIG results. Within the first few hours of a blast we sent this week, 4400 people had opened it. By late afternoon, 140 people every hour were still checking it out.
But don’t take our word for it, the broker trying to market that east coast property says at least half-a-dozen folks called him within the first few hours.
We’re constantly expanding our national database. Let REDNews get your property noticed.
E-mail your pdf, subject line, date to send and credit card info to jim@rednews.com
But don’t take our word for it, the broker trying to market that east coast property says at least half-a-dozen folks called him within the first few hours.
We’re constantly expanding our national database. Let REDNews get your property noticed.
E-mail your pdf, subject line, date to send and credit card info to jim@rednews.com
Subscribe to:
Posts (Atom)
Posts
