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

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More than 1M square feet of commercial space slated in San Marcos project

trace_highpointeTrace, a $475 million mixed-use project with 1,000 homes and hundreds of apartments as well as office and retail space, is set to rise near the outlet malls in San Marcos. Construction is expected to begin this month on the 420-acre project at Posey Road and I-35, south of the mall. …Read Entire Post

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$271M sale of city's largest shopping center closes

southpark_meadowsAU

Blackstone purchases about 910,000 square feet of retail space from RioCan.

A large portion of Southpark Meadows shopping center, the biggest development of its kind in the Austin area, has changed hands. Mega-investor The Blackstone Group purchased Phases I and II of the South Austin regional shopping center — about 910,000 square feet — from Canada-based RioCan real estate investment trust.

The deal — part of a $1.9 billion, 50-property portfolio sale — recently closed after being announced last year. …Read Entire Post

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Many retailers joining Sky Cinemas in Dripping Springs.

Many retailers joining Sky Cinemas in Dripping Springs.

The creators of Violet Crown Cinema will unveil Sky Cinemas at the 90-acre mixed-use development near U.S. Highway 290 and Nutty Brown Road.

Crescent Communities and Endeavor Real Estate Group, which are jointly building Belterra Village, also announced Monday that Breed & Co., a hardware and homeware store, will open its third Austin area location there. Thus far, about 85,000 square feet of retail has been secured. …Read Entire Post

H-E-B planning larger Marble Falls store

Larger HEB planned for Marble Falls.

Larger HEB planned for Marble Falls.

A bigger, better H-E-B store is on its way to Marble Falls. The San Antonio-based grocery chain said Wednesday that it will build a new, larger store adjacent to its existing one at 1503 W. FM 1431.

Once the new store opens, the current one, which spans 82,104 square feet, will close and be torn down. H-E-B has increased its land lease to 11.74 acres – up from 5.35 acres – to make the construction project possible.

The exact square footage of the new store, a list of additional features and a projected opening date won’t be available for about a year, H-E-B said, while the grocer studies its options. …Read Entire Post

Goodnight Ranch's new dawn: housing, mixed-use project to South Austin

Goodnight Ranch development plans

Goodnight Ranch development plans

Some 3,500 homes are poised to be built during the next decade or two on the former dairy farm near East Slaughter Ln. and Old Lockhart Rd, across I-35 from Southpark Meadows, the largest shopping complex in the region.

Retail and commercial office development are part of Goodnight Ranch’s mix—at least 226,000 sf. Apartments and condos will be added. One elementary school is already built to serve the community and another school site has been set aside. …Read Entire Post

UPS to build new package distribution facility in Round Rock

UPS distribution facility to begin construction in Round Rock.

UPS distribution facility to begin construction in Round Rock.

UPS will build a new package distribution and warehouse facility in Round Rock following an economic development deal approved by City Council May 12.

The council approved an economic development agreement with United Parcel Service Inc., otherwise known as UPS, to open a warehouse and distribution facility as well as hire at least 314 full-time equivalent employees.

The agreement states UPS will purchase approximately 50 acres of land and invest at least $70 million in facility improvements and personal property. According to a release from UPS, the package processing facility will include automated sorting systems and will house approximately 300 UPS delivery vehicles. The Round Rock building is expected to open at the end of 2018. …Read Entire Post

Accesso Partners Forms Joint Venture to Own and Operate Office Campus in Austin

Riata Corporate Park

Riata Corporate Park

Accesso Partners and Partners Group have formed a joint venture to own and operate Riata Corporate Park, an eight-building, 688,433-square-foot office campus in northwest Austin. West Point Partners, of New York City, advised Accesso in the transaction.

The joint venture gives Partners Group an ownership interest in the 51-acre office park adjacent to Apple’s new $300 million Austin campus. Riata’s major tenants include Accenture, Quality Systems, NetSuite and Xerox among others.

…Read Entire Post

Thirsty Planet Brewing Co. buys South Congress property

thirsty-planetSouthwest Austin-based Thirsty Planet Brewing Co. has purchased property on South Congress Avenue for a tasting room and brewery.

The new, 60,000 square-foot location is capable of producing 30,000 barrels of beer per year, triple the amount it makes at its 11600 Circle Drive location, the company said in a March 28 news release. The company has not specified the exact location of the new brewery.  …Read Entire Post

Thorofare Funds Pflugerville Center

Pflugerville West Shopping Center

Pflugerville West Shopping Center

Los Angeles-based portfolio lender Thorofare Capital has funded a $7.7 million floating rate commercial mortgage for the acquisition of Pflugerville West Shopping Center, a 67,150-square-foot retail center located at 15424 FM 1852 in Pflugerville.

The sponsor, a Virginia-based private investor with a long history of value-add retail and multifamily projects throughout Texas, acquired the property in a marketed transaction for $131 per square foot, representing a going-in cap rate of 9.5 percent, according to Thorofare’s executive vice president of origination, Felix Gutnikov, who structured and negotiated the financing. …Read Entire Post

Lake Travis area alive with activity

lakewaySignWith plans in the works for major projects in Bee Cave, Lakeway, Hudson Bend and Four Points, a wave of new construction along the RR 620 corridor during 2014 points to continues growth for the region in the coming year.

Some of the highlights are listed below but read the entire article for more details.

Lakeway

Oaks at Lakeway (175,000 sf) – Neighborhood Center anchored by H-E-B; to open Oct. 30th

Lakeway Medical Village – Under Construction  …Read Entire Post