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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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Austin's skyline to reach new heights

Austin skyline will feature a new skyscraper.

Austin skyline will feature a new skyscraper.

A skyscraper proposed for 600 Guadalupe St. in downtown Austin is planned to soar more than 60 stories high — perhaps up to 75 — it would be by far the tallest building in the city.

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Stantec to move north for new Austin HQ

Stantec, the international engineering and design company, will occupy most of the new Diamond Building at Mueller. The move to 26,000 square feet at 1905 Aldrich St., expected to be completed by the end of the year, will house the majority of Stantec’s 150 Austin employees and allow for expansion to as many as 200. …Read Entire Post

HomeAway Building 16-Story Tower in Austin

homeawaylogoHomeAway, a vacation home rental firm, will move its headquarters and 2,000 employees into a new 16-story office tower that will be built in The Domain development in Austin.

The 315,000-SF building is being developed by Dallas-based TIER REIT in partnership with Austin-based Endeavor Real Estate Group. Construction will begin this summer, with completion expected in early 2019. …Read Entire Post

Westlake set for new office building

Davenport 360, a 33,911-square-foot Class A office building slated for about a 3.4-acre tract at 6001 Bold Ruler Way, Austin, is on target to open next summer. …Read Entire Post

$20M Facility Coming to Pflugerville

Flooring Services Southwest is relocating its Central Texas headquarters from Austin after closing on a 30-acre tract in the southern portion of the Commerce Center. The company bought the property from the Pflugerville Community Development Corporation, an economic arm of the city that receives funding through a portion of city sales tax revenue. …Read Entire Post

New office building in Round Rock will double available Class A office space

With the ground breaking of Mesa Creek, a new 60,000-square-foot Class A office building to be completed by April or May of 2018, Round Rock will double its available Class A office space. …Read Entire Post

Plaza Saltillo won final zoning approval from city council

The deal sets a building height limit of 70 feet for the entire project, which sits on about 10 acres along Capital Metro train tracks, but Endeavor could exercise the option to build a 125-foot office building.

Ten acres around the Plaza Saltillo train stop will soon go vertical after a mixed-use project won final zoning approval Thursday. …Read Entire Post

GSAM Private Real Estate Acquires Two-Building Office Complex

Goldman Sachs Asset Management (GSAM) Private Real Estate has purchased Quarry Oaks I and II, a two-building office complex located at 10900 Stonelake Blvd. in Austin. Principal Real Estate Investors sold the 292,421-square-foot complex for an undisclosed price. At the time of sale, the property was 100 percent leased to tenants including Forepoint, Microsoft Corp. and Microchip Technologies.

Click here to read the original article: GSAM Private Real Estate Acquires Two-Building Office Complex REBusiness 2-7-2017

REOC Releases 4Q 2016 Office Market Report

The Austin office market finished strong in the final quarter of the year with plenty of momentum heading into the New Year. New leases and expansions generated 567,035 square feet of positive net absorption in the fourth quarter.

No new office space was delivered in the fourth quarter keeping the year-end total at nearly 779,000 square feet. As a result, new leases and expansions tightened the citywide vacancy rate from 8.7% last quarter to 8.0% at the end of the fourth quarter.

Strong demand has propelled rental rates to an all-time high. At the close of the fourth quarter, the citywide average rental rate reached $34.83 per square foot on an annual basis which marks a healthy 3.5% annual increase over the same period last year. At the top of the market, Class A buildings in the CBD command an average quoted rental rate of nearly $53 per square foot. (To adjust for buildings which quote rents on a triple net basis, operating expense figures have been added into the equation to arrive at an average equivalent full-service rate.) …Read Entire Post

Events company plans to rehab 70-year-old North Austin building

red-velvet-events

Red Velvet Events relocating headquarters into old Austin building.

Red Velvet Events plans to breathe new life into a 70-year-old, 11,579-square-foot building at 7121 N. Lamar Blvd., and is planning a major renovation project to transform the space into the company’s new headquarters. …Read Entire Post