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During the past few months, there has been a flight to quality and stability in the net lease marketplace for well-constructed long-term net lease industrial properties in solid Texas metros on the part of investors.
One of those properties now underway is the Reserves at San Marcos, which will feature 376 units, 298 of which will be reserved for tenants earning up to 60% of the area median income.
With amenities such as a conference center and wet labs, the repurposed development Pegasus Park will open in early 2021 and feature four components: a biotech plus hub, a social impact hub and entertainment/dining venues.
The multiple projects that VanTrust is kicking off in Texas speak to the volume of e-commerce and logistics demands across the country and each market has its unique role in the supply chain.
The DFW retail outlook for the remainder of 2020 calls for a decrease in occupancy, which should be mitigated in part due to extremely conservative new construction, but the market continues to generate the type of population and residential growth that boosts retail.
Accesso has signed a lease with Michaels to occupy 123,740 square feet of space at Royal Ridge III, the property's sole tenant, in the Las Colinas submarket.
USDA's Rural Housing Service Texas State Offices, the Texas State Affordable Housing Corporation and Texas Department of Housing & Community Affairs all helped secure the financing for this deal.
Joan Kramer, partner of Mountain Pacific Opportunity Partners, recently weighed in on opportunity zones and why multifamily is still one of the shining stars in the CRE galaxy.