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Kim Gatley
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enior Vice President & Director of Research at REOC Austin

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Global Medical Acquires Hospital in Austin

Maryland-based Global Medical REIT Inc. has acquired Central Texas Rehabilitation Hospital, a 59,000-square-foot healthcare property located at 700 W. 45th St. in Austin, for roughly $40.6 million. The inpatient hospital features 50 beds and is leased to a joint venture between subsidies of healthcare providers Kindred Healthcare and Seton Healthcare.

Click here to read the original article: Global Medical Acquires Hospital in Austin REBusiness 9-29-2017

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Reported mega-deal Acquisition by Brandywine

Real Estate Alert, an insider real estate publication, reports that Brandywine Realty Trust and its Austin portfolio partner, DRA Advisors LLC, will sell five office properties in their joint venture to Starwood Capital Group, a Connecticut-based investment company. …Read Entire Post

Facebook takes another big bite of downtown Austin with major lease

fb-artFacebook Inc. is reportedly poised to massively expand its presence in downtown Austin, with another office inside of a gleaming skyscraper.

The social media behemoth plans to lease more than 230,000 square feet inside Third+Shoal, the 29-story tower being built at 208 Nueces St., the Austin American-Statesman reports. …Read Entire Post

High-end home retailer closes Austin store at Domain

pirchAs it focuses on its profitable stores in California, high-end appliance and kitchen retailer Pirch is shuttering most of its 10 stores in other states — including a showroom at Domain Northside in Austin that opened just four months ago. …Read Entire Post

Local Resident to Develop Class A Office Property in Austin

Austin resident Michael Ayer will develop Davenport 360, a 33,911-square-foot, Class A office property that will be located at 6001 Bold Ruler Way along Capital of Texas Highway in Austin. The property will be situated near local retail and restaurant options and offer employees a three-level parking garage. The developer plans to break ground as soon as the property is 50 percent pre-leased.

Click here to read the original article: Local Resident to Develop Class A Office Property in Austin REBusiness 9-11-2017

Retail Center sold in Northwest Austin

The Grove at Lakeline, a 16,253-square-foot retail property in Austin was purchased by a limited liability firm for an undisclosed price. Located at the northwest corner of State Highway 183 and Ranch Road 620; the center houses tenants such as Mattress Firm, T-Mobile and Orangetheory Fitness.

Click here to read the original article: Retail Center sold in Northwest Austin REBusiness 9-11-2017

42,000 SF Medical Office coming to Austin Metro

Perardi Development will build Medical Towers at Bee Cave II, a 42,000-square-foot medical office property located at the corner of RM 620 and State Highway 71 in the Austin metro of Bee Cave. Scheduled to break ground later this month, the project follows the completion and pre-leasing of the 23,000-square-foot Medical Towers at Bee Cave. This second phase of the project could be completed as early as mid-December 2018.

Click here to read the original article: 42,000 SF Medical Office coming to Austin Metro REBusiness Online 9-7-2017

UT regents ink first real estate deal with Merck at Dell Medical School

merck-coThe first steps in a real estate presence at the Dell Medical School at the University of Texas will be taken during a board of regents meeting.

Consent agenda item No. 35 on the University of Texas System regents’ docket authorizes a lease to Merck Sharp & Dohme Corp. at the UT Austin Health Discovery building at 1701 Trinity St. …Read Entire Post

Central Health plans to expand

Central Health plans to expand health services into Eastern Travis County, expanding access to care to areas with few resources. The Del Valle area, Northeast Travis County, Manor Road and Community First! Village may soon have access to more health care services and clinics. …Read Entire Post

Whole Foods may be Expanding HQ

wholefoods_logoWhole Foods Market Inc. appears to be taking steps to expand its downtown Austin corporate headquarters to a development under construction across the street.

Whole Foods would occupy a second building that could be built at 835 W. Sixth St., where Schlosser Development Co. is building the Shoal Creek Walk office tower. …Read Entire Post