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

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November surges with home sales

redhouseoutlineCentral Texas home sales soared nearly 16 percent in November over the same month last year, keeping the Austin area on track for a sixth straight year of record volume, according to the Austin Board of Realtors.

In its latest report, the board said 27,107 houses have been sold through the end of November, 3.7 percent more than during the same period in 2015. Once December’s sales are tallied, the board expects 2016’s sales to top last year’s 29,068 transactions, which marked the fifth year in a row of record sales in Central Texas. …Read Entire Post

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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

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

Blockbuster downtown deal collapses — but quickly revives with new buyers

offices-real-estate-iconA blockbuster deal to sell a prime downtown Austin block recently fell apart and now appears back on track — but with different buyers.

Stream Realty Partners and its affiliated investors for month had been openly marketing the block between Fifth and Sixth streets and between Congress Avenue and Brazos Street. It’s high-profile due to its location and size, but also because of tenants such as Internet giant Dropbox Inc. …Read Entire Post

You know that cool vacant building on South Congress? It's been sold

220 S. Congress Ave

220 S. Congress Ave

An iconic South Austin building that’s been vacant for years has been purchased by the budding real estate titans who recently bought the Austin Music Hall.

Cielo Property Group, which has been snapping up some high-profile local commercial properties the past three years, purchased 220 S. Congress Ave. — the 1936 brick building that once housed the Brink’s cash handling and security business as well as a commercial garage and a furniture store.

It’s fallen on hard times in recent years. …Read Entire Post

NAI Global Set to Sell Over $150 Million in Properties

Accelerated Marketing Program Attracts Property Owners, Financial Institutions in 20 States Across the U.S.

Monthly Sales Events Feature Internet Auctions, Sealed Bids to Help Sellers Achieve Optimum Value

More than 50 properties valued in excess of $150 million will be featured in the first round of the Commercial Property PowerSale™, NAI Global’s ongoing series of national, multi-seller auction and sealed-bid sales.

NAI Global, in cooperation with its longtime alliance partner Higgenbotham Auctioneers International, created The Commercial Property PowerSale™ as part of an Accelerated Marketing Program to help property owners optimize the value of their property in today’s extremely difficult selling environment.

“This first event has generated significant interest across the U.S., and is being embraced by motivated sellers who are frustrated by gridlock in the traditional sales channels,” said Jeffrey M. Finn, NAI Global President & CEO. “We’re excited about this program’s potential to bring together buyers and sellers to create a market where one doesn’t currently exist.”

NAI Global expects to move over $1 billion in premier investment properties, financially distressed real estate and real estate loans by the end of the year, through online auctions sealed bids and a unique combination of the two formats, Finn noted.

This unique program gives clients the opportunity to sell their assets quickly, reducing their holding costs and securing true market value for the properties. Sellers in the Commercial Property PowerSale™ benefit from the tremendous marketing leverage created by aggregating properties from multiple sellers into a series of nationally marketed events.

The first Commercial Property PowerSale™ will take place online on May 1, 2009. Interested buyers will have an opportunity to bid on properties in 20 states, including New York, Washington, California, Texas, Florida and Maryland.  The properties range from development-ready land tracts to investment-grade office, retail and multi-family properties. The full list of properties and detailed bidder information is available to the public on www.naiglobal.com/powersale. Interested buyers have the option of participating by submitting a sealed-bid or bidding live during the online auction, depending on the specific property.

“This is just the first phase of the Commercial Property PowerSale™,” said Finn. “We expect momentum to grow with each subsequent event.”

The second Commercial Property PowerSale™ is scheduled for June 11, with a property submission deadline of April 13. Future events are expected to be held on a monthly basis and will also feature the sale of performing and non-performing loans, providing another solution for banks and financial institutions.

Prospective buyers and sellers interested in learning more about the Commercial Property PowerSale™ should visit www.naiglobal.com/powersale

NAI Austin is one of Austin’s most experienced commercial real estate firms and the Austin area representative for NAI GlobalTM, the industry’s largest global network of real estate service-providers, comprising 5,000 brokers in 325 offices serving more than 55 countries worldwide. For more information on NAI Austin, please visit www.naiaustin.com.

Southwest Austin Office Update

Amber Oaks has added two new buildings: an addition of 150,000 square feet to the already existing 10-building office park located at the southwest corner of RR 620 and Parmer Lane in northwest Austin. The new buildings H and I have 100,000 square feet 50,000 square feet respectively, with a parking ratio of 5:1,000. This new addition was completed last September and no leases have been signed for space in the new buildings.

Amber Oaks is conveniently located next to Lifetime Fitness, a 120,000 square feet fitness center with various playing courts, a rock-climbing wall, pool and state-of-the-art equipment. There are 40 restaurants within two miles of Amber Oaks, and developers are adding three retail pad sites.

Prime Austin commerical property sold

NAI Austin’s Senior Broker Phillip Bible and Land Specialist Meredith Sloan represented Dr. Greg Biehle in marketing and selling a prime retail site, located at the southeast corner of 35 St. and Glenview, one block west of Dr. Biehle’s popular veterinary clinic in the Brykerwood area.

This 15,512 square foot site includes a commerical building formerly known as the Gorbet Building. The new owners plan to remodel the building to house a new, Austin-original, Argentine-style restaurant.

Buildings surpass previous LEED certifications

As more Austin-area developments are looking to become LEED certified to reduce their impact on the environment, they are also moving up in their environmental certification.

Last week, a North Austin office development, which started construction in January, became gold LEED pre-certified as a result of its energy and water efficiency, use of local and recycled materials and the provision of facilities for bicycling commuters. Located at Oak Creek Drive and MoPac Expressway, Oak Creek Plaza is a Class A 50,000 square foot office building on four acres of land near the Capital Metropolitan Transportation Authority’s commuter rail. Real estate developers have figured out that developing LEED certified office buildings will not only be a benefit to the environment but will also make their buildings more attractive to tenants, especially those from the West Coast. Oak Creek Plaza is one of the first gold LEED certified projects in Austin and will be finished in October of this year.

In May, the Ronald McDonald House of Austin and Central Texas became platinum LEED certified as a result of its landscape architecture and rooftop solar panels that power at least half of the rooms and avoid 30,000 pounds of carbon dioxide emissions annually. Located at 1315 Barbara Jordan Boulevard and completed in 2007, this 28,500 square foot facility is the first solar-powered Ronald McDonald House in the world.

Drywall, acoustical supplier expands to the Austin area

NAI Austin Industrial Specialist Mark Milstead negotiated the sublease of 8040 sq. ft. at 110 Market Street to Gypsum Supply, Ltd. Gypsum is a Dallas company that specializes in drywall and acoustical supplies.

Started in 1991, Gypsum Supply, Ltd. helped created Amarok, a co-op that joins the resources of independent gypsum dealers. Amarok now has over 170 members and 300 locations nationwide. Gypsum Supply, Ltd. is looking to expand in Texas and was bought by the Wright Family in 2006.