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

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Prescott Group Plans Redevelopment of Office Building in Austin

Prescott Group Inc., along with an institutional investor, has acquired an office building at 316 W. 12th St. in Austin and plans an $11 million redevelopment of the property. The building is located on one acre and is within walking distance of the State Capitol, The University of Texas, Dell Medical School and Austin’s Downtown Entertainment District. …Read Entire Post

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3M is selling its 156-acre Austin campus

3m-logo

3M selling large campus in Austin.

Materials company 3M, best known for its Post-it notes and Scotch tape, is selling its main 156-acre campus in Austin, the company has confirmed.

The company declined to reveal the list price for the property, which includes 1 million square feet of office space. The 3M land, at RM 620 and RM 2222, is home to employees who work in 3M’s “electronics and energy” group, as well as its research and development facility. A separate manufacturing facility is off Research Boulevard and is not part of the sale.  …Read Entire Post

Revamp Of 111 Congress Likely To Attract Tenant

111 Congress building.

111 Congress building.

The 30-story tower’s exterior at 111 Congress features a stair-stepped pyramid design with a red granite facade, perhaps one of the most distinctive structures on the skyline. The building has one more floor available of up to 23,142 square feet within its 518,385 square feet of total space.

The revitalized plaza space offered at Fareground at 111 Congress resulted from a careful study of market dynamics and the realization that it risked functional obsolescence. This led toParkway Properties’ decision to transform the plaza and lobby of One Eleven Congress into an urban park, civic space and food marketplace that will attract Austinites, out-of-towners and tenants alike. …Read Entire Post

TriNet growing in Austin as more companies deal with Obamacare

trinetAUTriNet Group Inc., a California-based human resources company, has opened a new Austin office in Riata Corporate Park amid greater demand from businesses for help with Affordable Care Act compliance.

TriNet (NYSE: TNET) unveiled the 33,557-square-foot space on Monday. The company, which provides small and midsize businesses with HR services from the cloud, has 26 job openings at the Northwest Austin office. …Read Entire Post

Lamar Central grows

lamar center

New additions to Lamar Center are now almost full.

The new Lamar Central development is nearly full following a few recent additions. The mixed-use project at 3800 N. Lamar Blvd. is already home to the corporate headquarters for Austin jeweler Kendra Scott, as well as Westlake Dermatology and Snooze, a breakfast-focused restaurant.

Now, Campagna Napoli and Finley’s Barber Shop are joining the tenant mix. Campagna Napoli has signed a five-year lease and will occupy about 1,800 square feet at the development, Highland Resources said. …Read Entire Post

The Domain’s Final Phase, Northside, Is Almost Here

domainAU

Much anticipation is following as the Domain Northside is nearing completion.

The final phase of the Domain, called Domain Northside, is set to have its grand opening in September – and the project is already close to 80 percent leased.

The final Domain phase will include a boutique hotel, a Nordstrom department store, and several high-end retailers, including a new Restoration Hardware concept and Austin favorites like Eliza Page and Second Bar + Kitchen.

Northside, which spans 43 acres, will also include 563 apartment units and office space. …Read Entire Post

Indeed to move downtown Austin sales office to larger location as it grows workforce

Indeed purchases new office location to house it's growing workforce.

Indeed purchases new office location to house it’s growing workforce.

Indeed Inc., an online job-listing service, is relocating its downtown sales office to a space capable of accommodating more than 275 workers. Indeed, which was founded in 2004, aggregates job listings from thousands of other online job posts. It employs 3,000 workers, including 800 in Austin. …Read Entire Post

Austin, tech, and 18 hours

austin_cityOver the past decade, Austin has evolved from its ‘college town’ attitude into a dynamic metro with a dense urban core. In its new report, CBRE identifies key trends helping the Texas capital join the ranks of America’s major cities.

Office: due to robust employment growth, Austin’s office market is setting record highs in absorption and rents, while reaching new post-recession vacancy lows.

…Read Entire Post

Cielo moves ahead with innovative East Austin project with City Council's approval

Rendering of the The Foundry at 310 Comal St. in Central East Austin.

Rendering of the The Foundry at 310 Comal St. in Central East Austin.

Cielo Property Group is expected to break ground on The Foundry, an office and residential condominium project at 310 Comal St. The 95,444-sf development will include 78,324 sf of creative office space and 17 for-sale condo units.

Additionally, Cielo is trading property at 1409 and 1411 E. Fourth St. for land Habitat owns at 1600 and 1602 E. Fourth St. The new parcel will allow about 8,800 sf of additional development than could be entitled on the other parcel.

The Foundry mixed-use project could deliver as early as fourth quarter 2017.

Click here to read the full article: Cielo moves ahead with innovative East Austin project with City Council’s approval (Austin Business Journal, 4-1-2016)

Prelim plans unveiled for Plaza Saltillo in East Austin

PlazaSaltilloPreliminary plans have been unveiled for the Plaza Saltillo – a mixed-use project on a ten-acre site that runs six blocks east of I-35 between East Fourth and Fifth Streets in East Austin.

The land is owned by Capital Metropolitan Transportation Authority, which operates the Capital Metro Red Line—the commuter rail that runs from Leander to Downtown Austin.

The mixed-use project is expected to include residential, office, retail and open space. No public parking is planned.

Construction will start in 2017, and the project likely will take six to seven years to be completed.  …Read Entire Post