TECHNOLOGY SURVEY SPOTLIGHTS RENTERS
WASHINGTON, D.C. (National Multi Housing Council) – The National Multi Housing Council (NMHC) has published a new research report that explores which technologies renters currently use and which ones they desire in their apartment homes. The report, Apartment Renter Technology Survey, is based on a national survey of nearly 1,000 residents conducted by SatisFacts Research LLC.
Here's what the survey revealed:
- Only 58 percent of apartment homes have wired landline phones, and only 38 percent of occupants surveyed consider it their primary phone. Instead, renters prefer mobile phones. Fully 88 percent of renter households have mobile phones compared to 74 percent of all households.
- Seventy-eight percent of respondents have computers in their apartments; 85 percent of those subscribe to high-speed Internet service.
- Lower-income renters are just as involved with technology and desire it just as much as upper-income residents.
- Sixty-nine percent would like communities to offer wireless hotspots.
- Residents do not want their services bundled with a single service provider. Only 15 percent said they were “likely” or “very likely” to bundle their phone, video and Internet services with one provider.
- While 94 percent say that they did not choose their current apartment home because of the technology amenities it offered, they report that high-speed Internet, good cell phone reception and a choice of service providers might be important factors in choosing where to live next.
- By a factor of 500 percent, residents would prefer communicating with their landlords in person versus sending an e-mail or using a web portal. Calling the office was the second-most desired means of communicating with the apartment staff.
PARKWOOD PLACE 1 SOLD
PLANO (The Dallas Morning News) – KBS Realty Advisors of California has purchased Parkwood Place I in the Legacy business park from developer Myers & Crow and Kennedy Real Estate Advisors.
The nearly 99,000-square-foot building at 5601 Democracy Dr. was completed in 2006 and is more than 80 percent leased.
CB Richard Ellis negotiated the sale.
LENNOX CENTER CHANGES HANDS
RICHARDSON (The Dallas Morning News) –Tri State Commercial Associates has purchased Lennox Center from developer Henson-Williams Realty Inc.
The more than 183,000-square-foot shopping center is at Coit Road and Campbell.
CB Richard Ellis and Quine & Associates Inc. arranged the sale.
THREE FOR LIBERTY
HOUSTON (Houston Business Journal) – Liberty Property Trust has purchased three industrial buildings in the Greens Crossing Distribution Center, adding 575,000 square feet to the Pennsylvania company’s portfolio.
The buildings are at 11201 Greens Crossing Blvd., 850 Greens Pkwy. and 860 Greens Pkwy.
Liberty purchased the Class-A properties from Simmons Vedder & Co.
HOUSTON'S CAMPUS CONSTRUCTION
HOUSTON (Houston Chronicle) – Houston Community College breaks ground this week on several new projects at two of its campuses.
The college will build a 47,000-square-foot Energy Institute and Science and Technology Building and a 90,000-square-foot Student Services Learning Hub at its Northeast (Codwell) Campus near 610 North and I-10 East.
Meanwhile, the 118,000-square-foot Northline Academic Building will be the first new building at the 24-acre Northline Campus at I-45 North and Crosstimbers.
ECLIPSE NEAR NASA
FRIENDSWOOD (Houston Chronicle) – Eclipse Development has purchased 136 acres at NASA Parkway and Blackhawk from Whitcomb Clear Creek Farms.
California-based Eclipse plans to turn the land into a mixed-use development that will include 600 residential units and 500,000 square feet of retail, office and hotel space.
RFP Commercial represented Eclipse in the purchase.
QUARTER CIRCLES BUYS PARKWOOD, STEPPINGTON
HURST, DALLAS (The Dallas Morning News) – Quarter Circle Capital has purchased two commercial properties in the Metroplex.
The Nebraska investor paid about $6 million for Parkwood Village Shopping Center, a 163,000-square-foot neighborhood retail center at 113-209 Harwood Dr. in Hurst.
The company also bought Steppington Plaza, a 64,000-square-foot, two-building office complex at 10500 N. Central Expressway.
PRESIDIO GEARING UP
FORT WORTH (globest.com) – Transwestern and Las Vegas–based Diversified Asset Planning will break ground by the end of this year on a 388-acre mixed-use project at North Tarrant Parkway and I-35 West.
The Presidio will include 1.4 million square feet of retail space, 1.5 million square feet of multifamily housing and 500,000 square feet of office and hotel space.
Hodges & Associates PLLC of Dallas is the architect, and Halff Associates Inc. is the project's engineer. Both are Dallas-based companies.
COMMON INTERESTS
AUSTIN (Austin Business Journal) – Gables Residential and the Austin office of Direct Development will break ground next month on 5th Street Commons, a mixed-use project that will bring 38,000 square feet of retail and restaurant space and 138 apartments to 5th Street between West Lynn and Campbell streets.
The four-story, $28 million development, designed by the Dallas office of LRK, will feature luxury apartments on top of a neighborhood-oriented retail project. At least 15,000 square feet will be dedicated to restaurants, including such well-known establishments as Pok-e-Jo's Smokehouse and Mean Eyed Cat. Both Pok-e-Jo’s and Mean Eyed Cat currently reside on the project site.
The development will also have a 200-space surface parking lot for retail customers and a multilevel garage for residents.
BIG-CITY STYLE IN SUBURBS
McKINNEY (The Dallas Morning News) – Developer Trammell Crow Residential will break ground next month on the Alexan McKinney apartment complex. In the process, the company hopes to bring a little big-city style to the suburbs.
Taking design cues from city townhomes, designer BGO Architects have incorporated stone, brick and stucco into the 379-unit complex, which will occupy 15 acres near Stacy Road and McKinney Ranch Parkway.
The first units should be ready late this year. They will rent for more than $1 per square foot. The complex, a series of three-story buildings, is part of the 530-acre McKinney Ranch development, which will contain housing and commercial space.
Beaird Commercial Realty negotiated the sale.
COMMERCIAL SALES REACH NEW LEVELS
DALLAS (The Dallas Morning News) – According to Roddy Information Service's year-end survey of transactions, Dallas, Tarrant and Collin counties saw increases in sales on most property types last year, with commercial property sales reaching new levels.
Overall commercial sales in the three-county area were up 8 percent in 2006, with almost 5,400 properties sold. While Dallas County had the largest number of commercial sales (2,240 transactions), the biggest percentage increase was in Collin County, where commercial property trades were up 44 percent from 2005.
Industrial buildings were up 13 percent over 2005, with 749 properties sold. Retail buildings saw about a 5 percent increase in sales in the three-county area, and land sales rose 10 percent.
Only apartment building purchases saw a small decline, down 5 percent from 2005.
HIGHPOINT OAKS' SELF-STORAGE
LEWISVILLE (The Dallas Morning News) – Rearden Capital Corp., a self-storage operator, has purchased almost six acres at Highpoint Oaks on Denton Tap Road.
The property will be developed into a more than 100,000-square-foot self-storage facility and more than 14,000 square feet of retail space.
Joe Foster Co., CB Richard Ellis and Reese Commercial Realty were the brokers assisting in the sale.
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