Construction contracts slowed in September, but still ahead of 2012

11/17/2013 1:56 PM

11/17/2013 1:58 PM

Heavy construction and residential building contracts for North Texas were down in September, but still ahead of 2012 for the year, according to the latest report from McGraw Hill Construction.

In September, contracts for future construction on such projects as office buildings, shopping centers and warehouses totaled $409.1 million, down 5 percent from $430.3 million in September 2012.

For the first nine months of the year, contracts totaled $4.3 billion, 35 percent ahead of the $3.1 billion for the same period of 2012.

Residential building contracts totaled $525.7 million in September, down 12 percent from September 2012.

For the first nine months, residential contracts totaled $6.3 billion, up 22 percent from $5.1 billion from 2012.

Most expensive 4 bedroom/2 bath

Aledo was ranked as the most expensive market to buy a four-bedroom, two-bath home in Texas in Coldwell Banker’s 2013 Home Listing Report.

The residential brokerage surveyed 1,900 U.S. markets and ranked cities from most affordable to most expensive.

In Aledo, that size house has an average price of $276,652. Glenn Heights was the most affordable Texas market with an average price of $132,167.

In Tarrant County, the top five most affordable cities for four-bedroom, two-bath houses were Saginaw, $149,026; Burleson, $156,331; Arlington, $156,942; Fort Worth, $164,982, and Euless, $181,632.

The average nationwide cost for a four-bedroom, two-bath house among 52,000 listings was $301,414. California holds 13 of the top 25 spots for the most expensive, with Malibu leading the nation at $2.1 million.

The most affordable market was Cleveland, Ohio, at $63,729, Coldwell Banker said.

Transactions

119 Ranch House Road, Aledo

Cendera Funding has leased 1,650 square feet for a branch office to serve western Tarrant and Parker counties. Dick Myers with Coldwell Banker Commercial Searcy Vasseur Group represented the landlord, Geoffrey Williams.

841 N. Great Southwest Parkway, Arlington

Masco Corp. has leased 60,812 square feet of industrial space. Nathan Denton with Lee & Associates represented the tenant. Cody Riles with Prologis represented the landlord in-house.

1133 Avenue G, Arlington

Car Mex Auto Sales has leased 18,327 square feet. Will Dillard with Bradford Commercial Real Estate Services represented the landlord, Fantozzi Ltd.

8190 Precinct Line Road, Colleyville

A two-story, 19,626-square-foot office building in the Meadows Creek Plaza was sold to Gene Young Standard Insurance Agency, which will be moving from Hurst. Mark Wood with Howe/Wood & Co. represented the buyer. Russ Webb and LeAnn Brown with Silver Oak Commercial Realty represented the seller, 8190 Precinct Line Partners Ltd.

4051 N. Texas 121, Grapevine

KMM Telecom has leased 200,000 square feet. Cannon Green and Blake Kendrick with Stream Realty represented the landlord, DCT Industrial.

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