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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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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

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$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

New office tower underway at Austin’s Domain

domainauDevelopers have started work on Domain Tower, an 11-story building that will bring 310,000 square feet of space to market when it opens in early 2018.

Domain Tower will be the first office building at the Domain, which will be at 10721 Domain Drive from. Initial interest is coming from prospective tenants in the technology and financial services industries, say the developers. …Read Entire Post

Lost Creek’s Marshall tract sold

Lost Creek’s Marshall tract—a 36-acre parcel bordered by Lost Creek Boulevard, Quaker Ridge Drive and Capital of Texas Highway in the Westlake area—has been sold by Dan Marshall to development company Riverside Resources. Before the sale, Marshall personally created a proposal with architect L.M. Holder III to build two office buildings and a parking structure on the land, Marshall’s representative Paul Schumann said.

According to the most recent plan presented to the Lost Creek Neighborhood Association, the office buildings would be three stories tall and total 350,000 square feet, and the parking lot could be as high as five stories tall. If the project moves forward, the Marshall tract—currently zoned for single-family use—would have to be rezoned for commercial use.

Click here to read the full article: Lost Creek’s Marshall tract sold Community Impact Newspaper 12-9-2016

Engineering firm to build $12M HQ in Round Rock

performance_serviceslogoPerformance Services, an Indianapolis-based engineering firm, plans to build a $12 million regional headquarters in Round Rock. The company — which has a track record of working on hospitals, K-12 schools, local government buildings and university facilities — said Nov. 21 it has purchased 16 acres on East Old Settlers Boulevard, near Greenhill Drive, for its 60,000-square-foot building. …Read Entire Post