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

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Indeed to move downtown Austin sales office to larger location as it grows workforce

Indeed purchases new office location to house it's growing workforce.

Indeed purchases new office location to house it’s growing workforce.

Indeed Inc., an online job-listing service, is relocating its downtown sales office to a space capable of accommodating more than 275 workers. Indeed, which was founded in 2004, aggregates job listings from thousands of other online job posts. It employs 3,000 workers, including 800 in Austin. …Read Entire Post

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Baylor Scott & White buys Lakeway Regional Medical Center

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Baylor Scott & White purchases Lakeway Regional Medical Center.

Baylor Scott & White Health has purchased the operations of Lakeway Regional Medical Center, a hospital west of Austin that has at times experienced financial difficulties in the four years since it was founded, for an undisclosed price.

The facility will be renamed Baylor Scott & White Medical Center-Lakeway and the transition will be complete by the end of the summer, according to a July 6 announcement. Philippe Bochaton, CEO of Lakeway Regional Medical Center, will remain as CEO of Baylor Scott & White Medical Center-Lakeway. …Read Entire Post

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

Southpark Meadows deal finally closes.

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

CapRidge Partners buys West Austin office park

CapRidge Partners purchases Lakewood on the Park office park

CapRidge Partners purchases Lakewood on the Park office park

Austin-based CapRidge Partners purchased Lakewood on the Park, Buildings B and C, from Equity Commonwealth. The office investment transaction was announced May 31 by Mesa West Capital LLC, a private debt fund manager and portfolio lender with offices in Los Angeles, New York and Chicago. CapRidge Partners recently purchased Lakewood on the Park at 7600 N. Capital of Texas Highway.

CapRidge Partners recently purchased Lakewood on the Park at 7600 N. Capital of Texas. Mesa West provided a $32,145,000 short term, non-recourse loan to CapRidge Partners toward the acquisition of the 180,558-square-foot office property at 7600 Capital of Texas Highway. …Read Entire Post

H-E-B buys Twin Oaks Shopping Center on Congress

HEB recently purchased the Twin Oaks Shopping Center on South Congress.

HEB recently purchased the Twin Oaks Shopping Center on South Congress.

In a South Austin real estate deal, grocery chain H-E-B has purchased the Twin Oaks Shopping Center, a decades-old, ten-acre property at South Congress Ave. and Oltorf St. H-E-B closed on the purchase of the Twin Oaks center at 2315 S. Congress Ave.

H-E-B’s current store at South Congress and Oltorf was built in 1957. The company hasn’t commented on the store’s future after the grocery chain bought the ten-acre shopping center across South Congress Avenue from the store. …Read Entire Post

204,000-SF office/flex building flies off the market in Southeast Austin

204,000 SF office/flex space, 6800 Burleson Rd.

204,000 SF office/flex space, 6800 Burleson Rd.

A 204,346-sf office/flex building has been sold. The seller was DivcoWest Real Estate Services Inc. 

The building, which sits on 18.9 acres, is located at 6800 Burleson Rd., near Austin-Bergstrom International Airport.

The property, which was built in 1985 and renovated in 1995, was originally part of the former Lockheed Martin campus.

The buyer, Capital Commercial Investments, plans to renovate the building.

Click here to read the full article: Real Estate Roundup: Vulcan Video gets new digs; Favor secures corporate space (Austin American Statesman, 4-8-2016)

Bee Cave shopping center honey of a deal for Illinois buyer

The Shops at the Galleria.

The Shops at the Galleria.

Oakbrook, Illinois-based InvenTrust Properties Corp. has purchased the Shops at the Galleria, a fully occupied, 537,684-sf regional power center in the Hill Country.

Located at 12780 Shops Pkwy., about 16 miles southwest of the Austin Central Business District, the 11-year-old shopping center houses Lowe’s Home Improvement, Home Goods, Michael’s, Marshalls, Old Navy, PetSmart, World Market, Best Buy, ULTA, and Office Max.

…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

University Park office building changes hands

University Park

University Park

The University Park office building (206,657 sf), located at 3300 N. I-35 near the University of Texas campus in Austin’s Central submarket, has a new owner.

The joint partnership Lionstone-Hermes Real Estate Venture recently purchased the eight-story building at I-35 and 32nd St. from San Francisco-based Spear Street Capital.  …Read Entire Post

REOC Austin facilitates sale of 2.138 acres at 1723 Spyglass Drive

Josh Hubka, CCIM and Fred Higgins, CCIM of REOC Austin represented US Bank in selling 2.138 acres at 1723 Spyglass Drive.  Tom Mercer of JTM Development represented the Buyer, Barnes Leverkuhn, LLC.  The property, located in the highly desirable Eanes Independent School District, is situated just 500 feet from the Barton Creek Greenbelt Trail and a short bike ride to downtown.  The site, originally planned as Phase II of the Habidad Condominium project, is zoned MF-2 and will be developed as high-end residential.