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

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With retail occupancy at record high, businesses turn to vacant spaces

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Store owners looking for novel ways to maximize the available stock.

Retail space around town is nearly all leased up, and to make matters worse for expanding shop owners construction is down — 700,000 square feet is set to be added in 2016, a 22 percent drop from last year’s 900,000 square feet added.

All of that adds up to a severely constricted market that has building owners and store owners alike looking for novel ways to maximize the available stock.

The 100,000-square-foot Rock Rose section of The Domain is one of the biggest retail tracts to deliver so far in 2016. With occupancy at 96 percent, developers and store owners are turning to novel ways to maximize available space. …Read Entire Post

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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

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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

Jimmy John’s brings business to East Austin

NAI Austin’s Retail Specialist Sherry Sanchez continues to represent Jimmy John’s Gourmet Sandwiches, this time in a lease of 1,400 square feet in East Austin. The new location will be the first on the east side of IH-35, at 1200 Barbara Jordan Blvd., between Airport Blvd. and 51st Street in the Mueller Airport redevelopment.

Jimmy John’s fresh ingredients and great employees, along with their subculture, make this restaurant unique. Its golden rule is “make a deal, keep a deal,” signifying its consistency in providing great service and food.

Tutor Times plans for second location in Austin

NAI Austin’s Land and Commercial Building Specialist Dean Janeff represented Many Blessings, LLC in its purchase of 3.13 acres of land on Boulder Lane just west of RR 620 in Northwest Austin. Many Blessings, LLC plans to build a 10,000 square foot daycare center, Tutor Time.

Tutor Time provides educational programs during the school year and summer for children, six weeks old to 12 years old. It has over 300 locations in the U.S., Hong Kong, Indonesia, Portugal and the Philippines. The company was started in 1988, and this will be its second location in Austin.

Charter school finds permanent residence

Dean Janeff represented Bright Horizons Children’s Centers, Inc, in the sale of their 10,536 square foot daycare center to the Texas Empowerment Academy in East Austin. The facility is located at 3613 Bluestein Drive, west of U.S. Hwy. 183 South (Ed Bluestein Boulevard).

The Texas Empowerment Academy is a charter school that was started in 1998. It offers small classes for a personal education experience for students, fifth to ninth grades. Tuition is free, and the school has been awarded the Governor’s Educator’s Excellence Award.

Mediterranean Buffet finds home in Southwest Austin

NAI Austin’s Retail Specialist Ryan Coleman and Land and Commercial Specialist Dean Janeff leased 4,610 square feet of free-standing restaurant space to Dimassi’s Mediterranean Buffet. The restaurant is located at 4301 West William Cannon in the Costco-anchored Arbor Trails Shopping Center in Southwest Austin.

Dimassi’s Mediterranean Buffet is a Texas-based chain, with this being its eighth location. Their menu is varied, including appetizers like Baba Ghanouge and entrees like kabobs and even dessert. They serve all of their dishes with fresh pita bread. They also cater to surrounding areas.

Little Caesar’s adds second location

Little Caesar’s Pizza, voted the best value pizza in America, is adding a location in Round Rock at 2051 Gattis School Road, with the landlord represented by NAI Austin’s Retail Specialists Sherry Sanchez and Ryan Coleman. Located in Round Rock Town Center, Suite 640, the 1,400 square foot space will be perfect for making and serving plenty of pizza and Crazy Bread.

Little Caesar’s Enterprises, Inc. is the world’s largest carry-out pizza chain, and it has built more units in the U.S. than any other pizza chain for the past seven years. It plans to continue expanding both in the U.S. and internationally. This is Round Rock’s second Little Caesar’s Pizza location.

Making luxury local

NAI Austin’s Retail Specialists Leo Morales and Sherry Sanchez have another tenant signed up at the Lakeway Town Center Phase II. Luxe Salon is an upscale salon that will have the feel of downtown without the drive. Located at 2121 Lohmans Crossing Road, the 1,450 square feet suite will offer hair and skin services to both men and women.

Phase II of Lakeway Town Center is still leasing space to tenants. The center is ideal for retailers and restaurants and has various sized suites to choose from. Leasing in the Town Center is a chance to bring more of Austin out to Lakeway. For more information, contact Leo Morales or Sherry Sanchez.

NexxLinx chooses Austin for expansion

The business communication solution company NexxLinx is expanding its services to Austin. Represented by NAI Office Specialists Lise Wineland and Josie Marshman, the President and CEO of NexxLinx Craig Mento leased 30,380 square feet of space in Suite 110 of the Northview Business Center at 9100 IH-35 South. This is its first location in Texas, and will create local jobs as well as provide a great quality of life for its current employees transferring to Austin.

NexxLinx was started in 1999 in Atlanta and allows companies to work more efficiently by using their own technology systems and software. Its partners include Kelly Services, Inc., IBM and PRC, and it serves companies such as Bank of America, Wachovia, Time Warner and Verizon.