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

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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

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Adler Kawa Acquires Kramer 1-5 at Braker Center

Miami, FL-based real estate investment firm Adler Kawa Real Estate Advisors (AKREA) secured its first investment in Austin with the company’s acquisition of Kramer 1-5 at Braker Center (Kramer), a portfolio comprised of five single-story light industrial buildings that total 296,781 square feet on Kramer Ln.

Built in 1999 less than one mile from The Domain and the University of Texas-JJ Pickle Center, the Kramer business park buildings range in size from 50,012 square feet to 68,400 square feet and incorporate 21-foot clear heights and efficient floor plates. …Read Entire Post

University Park office building changes hands

University Park

University Park

The University Park office building (206,657 sf), located at 3300 N. I-35 near the University of Texas campus in Austin’s Central submarket, has a new owner.

The joint partnership Lionstone-Hermes Real Estate Venture recently purchased the eight-story building at I-35 and 32nd St. from San Francisco-based Spear Street Capital.  …Read Entire Post

Nordstrom to anchor The Domain Phase III

Nordstrom Inc. recently announced plans to open a second full-service store in Austin.  The two-level store, which will span roughly 123,000 square feet, will be located at The Domain, a mixed-use project located along MoPac near Burnet Road in North Austin.

The Domain Nordstrom is expected to open in the fall of 2016.

Nordstrom will anchor the third phase of the Domain’s expansion. When …Read Entire Post

Corporate Center III acquired by local investor

Corporate Center III (33,626 sf) was recently purchased by ATC Center LLC, a local investor.

The retail center, located at 8868 Research Boulevard, is 100 percent leased to seven tenants including Teacher Heaven, NOVA Medical Center, …Read Entire Post

Two office buildings slated for The Domain

Domain 7 Rendering courtesy Endeavor

Domain 7 Rendering courtesy Endeavor

The Domain, a growing North Austin mixed-use development located off MoPac and Burnet Road, is slated to add two new office buildings totaling 362,000 square feet in Domain 2 (140,000 sf) and Domain 7 (222,000 sf). 

Austin-based HomeAway Inc. has reportedly committed to 115,000 square feet in the planned five-story Domain 2 building.  The space is expected to accommodate 750 employees for the online vacation rental service.  HomeAway plans to take occupancy of the building in September 2014.    …Read Entire Post

Northcross Mall sells for $61.5M

NorthcrossMallSignNorthcross Mall (280,243 sf), located on 27 acres at Anderson Lane & Burnet Road, was recently purchased by Phillips Edison-ARC Shopping Center REIT for a reported $61.5 million.  The North Austin center was 95% leased at the time of sale.

The original Northcross structure was built in the early 1970’s.  In 2010, a 98,800-square-foot addition was completed and occupied by Walmart. …Read Entire Post

Omninet closes on Chase Park complex

Chase Park

Chase Park

Los Angeles-based Omninet Capital LLC recently purchased Chase Park, a five-building office park totaling roughly 285,000 square feet situated on 17 acres at 7700 Chevy Chase Drive near the southwest corner of I-35 and U.S. Highway 183 in North Austin. …Read Entire Post

Haverwood partners with OakPoint to purchase two Austin office buildings

Continental & Briarcroft

Continental & Briarcroft

Two Class B Austin office buildings were recently purchased by locally-based Haverwood Management in partnership with Nashville, Tennessee-based OakPoint Properties.  The Continental Building (58,700 sf), located at 9101 Burnet Road, was reportedly 85% occupied at the time of sale.  Likewise, the Briarcroft Building (63,825 sf), located at 12710 Research Blvd, was also 85% occupied.  …Read Entire Post

Plaza 35 purchased by Karlin Real Estate

Plaza 35

Los Angeles-based Karlin Real Estate, one of the most active real estate investors in Austin, recently purchased Plaza 35, a  two-building office flex project spanning 186,000 square feet located at 12234 N. I-35.  

At the time of the sale, the Class B property was reportedly 100 percent occupied by Yodle Inc., VirTex Assembly Services and Logisticare Solutions LLC.  …Read Entire Post