When Amazon opened the doors of its 1 million-square-foot distribution center in Brookshire, it was heralded as one of the biggest economic development projects Waller County had ever done. “That will change if you guys all do your jobs,” joked Vince Yokom, executive director of the Waller County Economic Development Partnership. Yokom has headed up the organization for the past 15 years and has seen development in the area increase exponentially as population growth has shifted west. “We’re excited about the future of the Houston region and certainly in Waller County,” he told the crowd assembled at the Houston & Southeast Texas Development / Redevelopment Summit organized by REDNews. Waller County EDP’s goal is to work with existing businesses and those wanting to move into the county to facilitate positive growth in the county. Click to read more at www.rednews.com.
Cap rates within the single tenant net lease dollar store sector increased by 15 basis points from the second quarter of 2015 to the second quarter of 2016 to a 6.65% cap rate.
The dollar store sector, for the purpose of this report, is defined as free standing Dollar General, Dollar Tree and Family Dollar properties, as these tenants represent the largest presence within the sector. Cap rates for Family Dollar assets remained unchanged while Dollar General and Dollar Tree experienced increases of 10 and 15 basis point each, respectively.
Read more at Realty Biz News
Texas Association of REALTORS® releases Texas International Homebuyers Report
WASHINGTON, D.C. – (RealEstateRama) — Texas home sales purchased by international homebuyers added more than $10 billion to the Texas economy from April 2015 and March 2016, according to the Texas International Homebuyers Report released today by the Texas Association of REALTORS®.
“Over the last several years, Texas has become increasingly popular among international homebuyers from all parts of the globe for relocations, investment properties, and vacation homes,” said Leslie Rouda Smith, chairman of the Texas Association of REALTORS® . “In addition to our state’s strong economy and job growth, Texas’s friendly and welcoming culture is part of what make our state a great place to live, work, and do business.”
read more at Real Estate Rama
HOUSTON – With a tap of a touchscreen, the drone whirrs to life and takes off from the top of Aris Market Square.
The drone climbs high above Hines Interests’ 32-story, 274-unit luxury apartment tower under construction in downtown Houston.
The $10,000 machine zig-zags some 400 feet above the 320-foot tower, taking hundreds of ultra high-resolution photographs.
Read more at Real Estate Center
Add the government of Singapore to the steady stream of investors putting money into San Antonio real estate.
As part of an equity deal with Denver-based YES! Communities, the Asian city-state’s new stake in the Alamo City’s residential market is worth about $107.7 million.
GIC — a global investment firm established by the Singapore government to manage its foreign reserves — recently acquired a stake in seven manufactured home communities in San Antonio, all of which were included in the recapitalization of YES!’s 178-property portfolio.
Read more at San Antonio Business Journal.
Nearly 18,200 apartment units are currently under construction across the Houston region, according to Transwestern’s second-quarter Houston multifamily report.
Some Bayou City neighborhoods have more apartments under construction than others, however. Popular neighborhoods close into the city tend to have the most construction activity, but some suburban areas are also brimming with activity
Read more at Houston Business Journal.