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

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37-story tower planned for downtown Austin block

Austin downtown skyline.

Austin downtown skyline.

Trammell Crow Company plans to build a 37-story tower with office, restaurant and retail uses on a prime downtown Austin block owned by the University of Texas System, documents filed with the city show. …Read Entire Post

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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

Boston investor acquires one of Austin's newest skyscrapers

 

Austin downtown skyline.

Austin downtown skyline.

The downtown Austin office tower dubbed “5th+Colorado” has sold for a stunning $663 per square foot — a total of nearly $119 million, according to Real Capital Analytics. The buyer was Intercontinental Real Estate, a Boston-based company that owns other office assets in Austin.

The seller was a joint venture of Goldman Sachs and Lincoln Property Co., an avid developer and commercial real estate brokerage in Austin. Michael McDonald of Eastdil Secured handled the deal. …Read Entire Post

Google gobbles up more space in new downtown Austin high-rise

Google leasing an additional 100,000 sqft.

Google leasing an additional 100,000 sqft.

Google is growing its downtown Austin footprint, even before its first employees set foot in the company’s new space in the sleek new office tower called 500 West 2nd.

Google’s new space will consolidate employees from other locations, including North Mopac Boulevard (Loop 1) and University Park just north of downtown. In 2015, Google confirmed that it had signed a lease for more than 200,000 square feet of space in 500 West 2nd. …Read Entire Post

Summit at Rivery adds tenants as city acts on retail plan

The Summit at Rivery Park, the 32-acre mixed-use development between Rivery Boulevard and Williams Drive, will see new locations for Orangetheory Fitness and Woops BakeShop open by the fall, according to the companies.

The boutique retail development’s owner expects to add several more tenants before the end of 2017, including a brick-oven pizza restaurant, according to Jeff Novak, managing partner with Novak Brothers, the company behind the retail development. …Read Entire Post

Austin real estate investment firm buys 3M campus

3m-logo3M Co. has agreed to sell its 156-acre Northwest Austin campus and shift operations to a major office park rising on the northeast side of the city.

The new building to be home to 3M will be in the Parmer business park, near Parmer Lane, Howard Lane and Harris Ridge Boulevard. The development, east of I-35 and the Shops at Tech Ridge, is being built by Trammell Crow Co. and Los Angeles-based Karlin Real Estate. …Read Entire Post

Capital Factory gobbles up more space in downtown Austin

capital factoryCapital Factory is expanding its real estate footprint inside the building it shares with the Omni Austin Hotel Downtown, a move that will allow it to host many more events each year.

The startup accelerator and co-working office is doubling its event space inside 701 Brazos St., where it currently occupies three floors, Austin Inno reports. Capital Factory hosted 837 events in 2016, according to a Google for Entrepreneurs report. …Read Entire Post

Two Properties at The Domain change hands

Domain 7 Rendering courtesy Endeavor

Domain 7 of The Domain.

Domain 2 and Domain 7 have been acquired by Dallas-based Tier REIT, Real Capital Analytics reports. Endeavor Real Estate Group was backed by Shorenstein Properties in the development of Domain 7, which was just purchased by Tier REIT, a Dallas company. …Read Entire Post

3-story project planned for South Congress

The former St. Vincent de Paul thrift shop, which had been a fixture on South Congress Avenue for more than two decades, is about to take on new life as the space is renovated and a three-story building with shops and offices is built next to it.

The project, called Saint Vincent, is expected to break ground in the first quarter of 2017 along a section of South Congress that is seeing a burst of new development, with some businesses relocating or closing. …Read Entire Post

Austin office tower sold to New York firm for $63 million

austinskylineBrickman, New York firm, which purchased Lavaca Plaza in 2012 and turned it around in rapid fashion, has re-entered the Austin market with the purchase of this downtown tower known for its reasonable office lease rates in a town where prices are skyrocketing. …Read Entire Post