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west texas: Texas office markets struggle in 4Q09 - 02/13/10 12:14 PM
TEXAS' Q4 OFFICE PERFORMANCES VARY SANTA ANA, CA (Grubb & Ellis) - The office markets in Dallas-Fort Worth and Houston struggled in fourth quarter 2009, while Austin and San Antonio showed some positive signs, according to Grubb & Ellis. Dallas-Fort Worth ended 2009 with a total negative absorption of 941,499 sf, 265,402 sf of which was posted in the fourth quarter. Vacancy rose 30 basis points to 22.8 percent in the fourth quarter, its highest level in over four years. Overall asking rents declined $0.20 in the last quarter to $20.68 per sf across all property classes. Houston posted 295,713 sf (2 comments)
west texas: Big boxes shrink their parking lots - 01/22/10 09:47 AM
This is not a new concept and many shopping centers and strip centers have been taking advantage of their surplus of parking lot area. You can see the space at Radford Hills being developed for a Pizza Inn. Even uses like ATM's and Water receptacles that take up a smaller footprint have been popping up for years. You can expect to see more of this type of development by established businesses looking to raise cash with surplus property. - Erik Johnson Parking Spaces for Sale: No Carryout Allowed. By Steve McLinden Well, that may not be quite the way Home Depot (1 comments)
west texas: A Fannie Mae for retail centers? - 01/22/10 09:41 AM
This could give a boost to retail development if this action were to pass. - Erik A Fannie Mae for retail centers? A federally chartered, privately funded loan guarantee program could help turn capital spigots back on for retail real estate, observers speculate. Such a program could mimic the apartment-financing program Fannie Mae ran successfully for 20 years. "Whatever its shortcomings in the single-family mortgage business, Fannie Mae has developed a highly effective program," wrote George Gellman, chairman of The Benchmark Group of Cos., in a white paper for ICSC. Fannie Mae works like this: A developer goes to a Fannie (1 comments)
west texas: BIG YEAR FOR BRAC CONSTRUCTION - 01/22/10 08:47 AM
With $390M available for BRAC construction contracts it is possilbe to see more cities in Texas receiving the jobs. - Erik BIG YEAR FOR BRAC CONSTRUCTION SAN ANTONIO (San Antonio Express-News) - The Defense Base Closure and Realignment Commission's (BRAC) Joint Program Management Office has awarded a $26.4 million contract to Minneapolis-based Mortenson Construction for a 168,000-sf administration building at Fort Sam Houston. This is the first major BRAC-related construction contract in 2010, but the management office plans to award 23 more contracts worth nearly $390 million this year. BRAC construction has brought $2 billion in construction contracts to San (0 comments)
west texas: TEXAS CLEAN ENERGY PROJECTS RECEIVE TAX CREDITS - 01/21/10 10:30 AM
Amarillo and San Angelo combined to receive $6.2M in Recovery Act Tax Credits based on their ability to create more jobs. - Erik TEXAS CLEAN ENERGY PROJECTS RECEIVE TAX CREDITS WASHINGTON (U.S. Department of Energy) - President Obama has awarded $2.3 billion in Recovery Act Advanced Energy Manufacturing Tax Credits for 183 clean energy manufacturing projects across the United States, including eight in Texas. Texas tax credits include: $2.7 million for Alstom Inc. and Subsidiaries' Amarillo wind towers, $495,510 for Cooper Power Systems LLC's Nacogdoches smart grid, $1.4 million for Johnson Plate & Tower Fabrication Inc.'s Canutillo wind towers, $3.5 million for (0 comments)
west texas: TRANSWESTERN LANDS LARGEST-EVER MANAGEMENT DEAL - 12/15/09 02:59 PM
Congratulations to Transwestern on contracting for this tremendous management agreement. - Erik TRANSWESTERN LANDS LARGEST-EVER MANAGEMENT DEAL DALLAS (Dallas Morning News) - Transwestern's Dallas office has acquired one of the largest property management deals on record. Institutional investor RREEF has given operations of almost nine million sf of industrial and office space in North Texas and Oklahoma to Transwestern. The management portfolio includes high-profile projects like the 5950 Sherry Ln. office tower in North Dallas and the 4040 North Central tower near Cityplace. New York-based RREEF previously managed the buildings. (0 comments)
west texas: Industrial Recovery Not Expected Till Late 2010 - 12/15/09 02:17 PM
The good news is that the 2Q saw the bottom of absorption and the country is seeing some growth in the existing industrial lease properties. - Erik Johnson Industrial Recovery Not Expected Till Late 2010 New reports from three leading real estate firms agree it will be several more quarters before US markets see a significant increase in demand for industrial property. At the same time, they also generally agree that the worst of the availability increases is over. Both the 2010 National Economic and Property Market Forecast from Jones Lang LaSalle and Third Quarter Global Market Review from CB Richard Ellis (0 comments)
west texas: CCIMREDEX Revealed - 12/15/09 11:17 AM
Good news for our clients and customers. This new marketing and advertising tool has been a long time coming. The CCIM institute has always been cutting edge when it comes to commercial real estate expertise, but now they have the tools to demonstrate the Technology and Intelligence of the organization. - Erik Tech Solutions CCIMREDEX Revealed
By Rich Rosfelder For CCIM designees and candidates who are shouldering a large portion of the workload in real estate offices around the country, efficient analysis and marketing are indispensable. "Our time is precious," says Rhonda J. West, CCIM, owner of West Commercial Real (0 comments)
west texas: EPA HELPS CLEAN TEXAS WATER - 12/15/09 10:49 AM
Good for our Texas limited resources. Very important for West Texas which is in high demand for a limited supply of water. Tenaska in Sweetwater is a concern regarding the use of Abilene water for their coal plant. - Erik EPA HELPS CLEAN TEXAS WATER DALLAS (U.S. EPA) - Nearly $4.2 million has been awarded to the Texas Commission on Environmental Quality (TCEQ) by the Environmental Protection Agency. TCEQ will use the funds to administer the state's base water quality program, which aims to prevent, reduce or eliminate water pollution. The funds will also be used to administer environmental management programs to monitor, (0 comments)
west texas: HENRY S. MILLER JR. DIES - 12/15/09 10:44 AM
HSM brokerage was one of the most well known names in commercial real estate among many. - Erik HENRY S. MILLER JR. DIES DALLAS (Dallas Morning News) - After a career in real estate spanning over half a century, 95-year-old real estate giant Henry S. Miller Jr. died Saturday following a brief illness. Miller joined his father's one-man property sales office after WWII and transformed it into one of the country's largest commercial and residential real estate companies, eventually serving as its chief executive. In 1971, Miller, along with Virginia Cook, established what would become one of the country's largest independent home (0 comments)
west texas: SHORT SALE GUIDELINES REVISED - 12/15/09 10:34 AM
Fed's will require morgage companies to offer the Short Sale program after April in 2010. - Erik SHORT SALE GUIDELINES REVISED WASHINGTON (Associated Press) - Guidelines for short sales to help homeowners who need to sell their houses but cannot secure contracts at a high enough price to pay off their mortgages have been revised by the Treasury Department. The plan was created to aid homeowners whose income or debt is too low to qualify them for a loan modification under the Making Home Affordable program. The plan establishes timetables, a standard process and documents, and cash incentives for participation. The (1 comments)
west texas: ECONOMY IMPROVING, SURVEY SHOWS - 12/15/09 10:31 AM
Another positive review for Texas from the national survey in the Beige Book's final look at 2009. - Erik ECONOMY IMPROVING, SURVEY SHOWS HOUSTON (Houston Business Journal) - The Texas economy showed signs of improvement in the past six weeks through November, according to the Federal Reserve Bank of Dallas' Beige Book survey. Industries looking up include high-tech manufacturing, paper, petrochemicals, staffing, housing and energy. New and existing home sales improved over the six-week period, but the level of activity remains weak. The financial services and commercial real estate industries continue to report deteriorating conditions. Overall, prices remained steady during the period and (0 comments)
west texas: Experts: Retail Deals Getting Done - 12/02/09 10:38 AM
The article is somewhat surprising to me. After attending the ICSC in San Antonio in October, it seemed to have low attendance (2,500+/-) and the mood was fairly sedate. Abilene has been flat in the retail sector with restaurants leading. Office and Industrial have both seen more action. - Erik Experts: Retail Deals Getting Done ALLEN, TX-It’s not news that the past year has seen retail take a huge hit in terms of leasing. But for every big box that goes dark and every tenant that is begging for relief from a landlord, experts tell GlobeSt.com that others are signing up (0 comments)
west texas: FED PUTS PRESSURE ON MORTGAGE INDUSTRY - 12/02/09 10:00 AM
Lack of consumer effort to complete applications for an interest rate reduction is baffling. It should not be a cake walk for participants to be approved for a discount on their mortgages. - Erik FED PUTS PRESSURE ON MORTGAGE INDUSTRY WASHINGTON (Associated Press) - Treasury Department officials yesterday announced plans to increase pressure on the 71 mortgage companies participating in the government's $75 billion loan modification program. They will start this week by sending three-person "SWAT teams" to monitor the eight largest companies' work and requesting twice-daily reports on their progress. Next week, they will publish a list of the mortgage companies that (1 comments)
west texas: 7-ELEVEN MAKES DALLAS MORE CONVENIENT - 12/02/09 09:56 AM
We have seen the changes of the face of convenience stores in Abilene over the past three years. When Alon purchased several hundred Skinny's stores. Most of the stores have changed the signs on the buildings. There is a large 7-Eleven store concept that we may see that does not sell gas. They position them more as a small grocery store for underserved neighborhoods. - Erik 7-ELEVEN MAKES DALLAS MORE CONVENIENT DALLAS (Convenience Store News) - Convenience store retailer 7-Eleven will add over 75 stores to the Metroplex's existing 266 in the next three years. New stores will be concentrated in Dallas, (0 comments)
west texas: ORDINANCE COULD CHANGE INSPECTION CODES - 12/02/09 09:52 AM
The effect on commercial buildings HVAC systems could cause fewer developments on larger construction projects. An additional 25 to 50 cents per sf on a large building could add significantly to the budget. - Erik ORDINANCE COULD CHANGE INSPECTION CODES AUSTIN (Austin Business Journal) - A proposal to adopt the 2009 International Energy Conservation Code and require housing starts to undergo energy inspections has been sent to the city council. The proposed law would mandate testing for every single- or two-family unit by outside contractors. The current rule requires only a sampling of similar new housing by the same builder to (0 comments)
west texas: TEXAS BOUND FOR FAST RECOVERY? - 12/01/09 05:53 PM
Conservative spending and growth in the state have helped Texas in boom and bust times. - Erik TEXAS BOUND FOR FAST RECOVERY? NEW YORK (Forbes.com) - Texas' four major metros are in the top ten fastest-recovering cities nationwide, according to Forbesmagazine. Forbes ranked San Antonio the second fastest recovering city in the country, Austin the third, Dallas-Fort Worth-Arlington the sixth and Houston-Sugar Land-Baytown the eighth. The magazine attributed their relatively quick recovery to San Antonio's and Austin's high number of municipal jobs, Dallas' thriving technology industry and Houston's energy sector, as well as the state housing market's ability to remain stable while other (0 comments)
west texas: CITY GREEN STANDARDS COULD CHANGE - 12/01/09 05:51 PM
Check in to LEED Certification if your market is progressive. http://www.usgbc.org/DisplayPage.aspx?CMSPageID=283 - Erik CITY GREEN STANDARDS COULD CHANGE AUSTIN (Austin Business Journal) - In response to developers', city officials' and commission appointees' concerns that the city's energy standards are confusing and that they slow development, Austin Energy is proposing a standardized green building rating system across development types. Currently, different rating systems apply to commercial, residential and multifamily projects. The proposed changes, which are planned to go before the city manager for approval early next year, would implement the same criteria across all sectors that the city council has already adopted (0 comments)
west texas: Get your Insurance Refund Today - State Farm - 12/01/09 05:45 PM
STATE FARM ISSUED REFUNDS ORDER HOUSTON (Houston Chronicle) - State Farm Lloyds has been ordered to issue $310 million in refunds to home insurance policyholders. Insurance Commissioner Mike Geeslin said this completes insurance reforms that began in 2003 following years of record rate increases. Regulators had then ordered the company to cut its rates 12 percent. The refund amounts to 6.2 percent of premiums for those the company insured from September 2003 to August 2004, and 3.4 percent of premium for each year of coverage for customers insured from September 2004 to July 2008. State Farm, Texas' largest home insurer with about 1.2 million policyholders, has ten (1 comments)
west texas: First-time homebuyer tax credit - 12/01/09 05:43 PM
If you haven't heard it already... CONGRESS APPROVES, EXPANDS TAX CREDIT WASHINGTON (Bloomberg News, Associated Press) - The Senate and the House have approved extending the first-time homebuyer tax credit, settling on an April 30 close date and expanding it to benefit more homebuyers. The plan, which had not been signed by President Obama as of this morning, would allow couples earning up to $225,000 a year and individuals earning up to $125,000 a year to qualify. Current parameters of the credit limit income to $75,000 for individuals and $150,000 for couples. Additionally, buyers who have lived in their homes at least five years would (0 comments)
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