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  • Texas employment recovery continues
    on August 7, 2020 at 10:00 pm

    ​​​​​COLLEGE STATION – ​Initial unemployment insurance claims in Texas decreased to around 66,600 last week, marking the fourth consecutive week of declines.From March 21 to Aug. 1, around 3.15 million claims were filed in Texas, according to data from the U.S. Department of Labor (DOL). Continuing unemployment claims decreased the week of July 25 to 1.17 million. "The drop in both Texas' jobless initial claims and continuing claims suggests the jobs recovery continues," said Real Estate Center Research Economist Dr. Luis Torres. "Going forward, better health outcomes are needed to achieve a sustained and continued ​recovery."All of Texas' major and border metros enjoyed a drop in both new and continuing unemployment claims. Using data from the DOL and the Employment and Training Administration, the Center estimates that from March 21 to July 25, nearly 705,300 seasonally adjusted claims were filed in Houston-The Woodlands-Sugar Land. The metro continues to lead the state in total number of claims.In the past 19 weeks, an estimated 677,300 claims were filed in Dallas-Fort Worth-Arlington, 215,800 in San Antonio-Braunfels, and 186,700 in Austin-Round Rock. Along the border, an estimated 82,100 claims were filed in McAllen, 71,000 in El Paso, 36,200 in Brownsville, and 21,800 in Laredo.A​​ccommodation and food services, administrative/support/waste management/remediation services, healthcare/social assistance and retail trade r​emained the sectors with the biggest unemployment claims through the week ending July 25.​​Almost 55.3 million Americans have filed initial unemployment claims in the past 20 weeks. New claims declined last week after registering two consecutive​ weeks of increases.The Real Estate Center has a wealth of economic information online for free.Podcast 444: COVID-19 and the Texas EconomyCOVID-19 Impact Projections on ​Texas Economy​Texas employment data​Monthly Review of the Texas Economy​Real Estate Center COVID-19 news​​Source: Real Estate Center

  • 130-unit Presidio Flats trades hands in San Antonio
    on August 7, 2020 at 3:00 pm

    ​​SAN ANTONIO – Locally based JMB Group has purchased Presidio Flats, a 130-unit apartment complex at 5347 Blanco Rd. Built in 1970, the property has one- to four-bedroom units. Rents range from $765 to $1,435 per month. ​Amenities include a pool, volleyball court, playground, and laundry facilities. Newmark Knight Frank represented the seller, Curtis Thigpen of Paravel Capital and Lyndon Management. The Real Estate Center​​​​ has more information like this online for free:​​​​Texas Quarterly Apartment Report​​San Antonio multifamily news​​Source: ​San Antonio Business Journal

  • Rastegar adds half acre to SoCo redevelopment
    on August 7, 2020 at 3:00 pm

    ​AUSTIN – Rastegar Property Co. has acquired a half-acre site at 106 Red Bird Ln. for its planned redevelopment at 5402 S. Congress Ave. The site will feature a 155-unit wrap-style multifamily complex.The Real Estate Center has more news like this online for free:Texas Quarterly Apartment ReportAustin multifamily news​Source: Connect Media

  • Austin, San Antonio data markets start strong in 2020
    on August 7, 2020 at 3:00 pm

    ​​​​LOS ANGELES – COVID-19 did not seem to have much of an impact on the Austin and San Antoni​o data markets compared with other U.S. markets, according to C​​BRE.Both markets saw a strong first half of the year, with a total of six MW absorbed.Inventory increased 5.4 MW to 163.7 MW. Currently, there is 9.5 MW under construction. Wholesale vacancy sat at 3.3 percent. Class A vacancy stood at 4.84 MW. CBRE researchers say the overall outlook of both markets seems to be very positive. Get more news on the Real Estate Center's website:San Antonio and Austin ​industrial news​​​​​Texas Quarterly Commercial Report​Source: CBRE

  • Local investor picks up 28K-sf warehouse, office building
    on August 7, 2020 at 3:00 pm

    ​SAN ANTONIO – PMJ Bleu Terre Holdings LLC has acquired the 28,000-sf warehouse and office property at 3503 Crosspoint Dr. Built in 1985, the Class C bu​ilding is fully leased to Accu-Print and E.F. Marketing Group.Stream Realty Partners represented the seller, Stream’s in-house investment fund.The Real Estate Center has more on San Antonio's office market:San Antonio office ​and industrial news​​​​Texas Quarterly Commercial Report​Source: ​San Antonio Business Journal