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enior Vice President & Director of Research at REOC Austin

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Stratus sells HEB-anchored retail center in $114M deal

Larger HEB planned for Marble Falls.

Stratus Properties Inc. has inked a blockbuster deal to sell its new HEB Grocery Co.-anchored retail development in Lakeway for $114 million. The buyer of the Oaks at Lakeway is TA Realty LLC, a private real estate investment company headquartered in Boston with offices on the West Coast.

HEB Grocery Co. is the anchor tenant at the Oaks at Lakeway, which has been developed and delivered by Austin’s Stratus Properties during the past couple of years. The price point is an eye-opener for a neighborhood shopping center, but there are some conditions that must be met. …Read Entire Post

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Macy's to close 100 stores

Macy's closing three locations in Austin.

Macy’s closing three locations in Austin.

Struggling Cincinnati-based department store giant Macy’s Inc. announced Thursday it’s closing 100 stores in an effort to overhaul its retail strategy.

Macy’s (NYSE: M) will close a majority of those stores in early 2017, according to a news release. The locations of store closures will be announced at a later date, the company said. The company operates three stores in Austin: at Barton Creek Square southwest of downtown, at the Domain and at Lakeline Mall near Cedar Park. …Read Entire Post

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

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

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Blackstone purchases about 910,000 square feet of retail space from RioCan.

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

Austin's rising rents mapped

Austin’s rising rents, like overall housing prices in the region, are not slowing down. Austin was the 20th-most expensive city in the U.S. for renters in April, according to a blog post from real estate website Zumper.com. A map from real estate website Zumper shows the relative median rent in areas of Central Austin

According to the post, one-bedroom units had a median price of $1,150 per month, while two-bedroom units came in at a median price of $1,500. That’s an 11 percent increase over the year-before period for single-bedroom units and a 9 percent increase for two-bedroom units.

It breaks down the median one-bedroom rent in several neighborhoods. The most expensive area is downtown Austin with median rents hovering around $1,900. Lower rents can be found near the University of Texas, where the median rent was $990.

Click here to read the full article: Austin’s rising rents mapped Austin Business Journal (5-24-2016)

25 Best Cities for New Grads to Live, Work, and Play In

Austin ranked 6th by SmartAsset for new grads to live, work, and play in.

Austin ranked 6th by SmartAsset for new grads to live, work, and play in.

Austin, Texas, is SmartAsset’s sixth best city for new graduates, falling from the No. 1 spot in 2015. SmartAsset says the city’s rising cost of living contributed to the fall in rank; its affordability received a score of just 31.28. But the city scored high for job availability at 82.26 and life outside of work at 92.53.

The median gross rent (rent plus utilities and fuel expenses) in Austin was $1,012 for the four years through 2014, while the average travel time to work is approximately 23 minutes, according to the U.S. Census Bureau. …Read Entire Post

Going once, going twice, sold! Downtown Austin office building sells

austin_900Congress900 Congress, a downtown office building and parking garage, has been acquired by Cielo Property Group.The 64,000-sf office building is at West Ninth St. and Congress Ave.

The building is five stories tall and is currently occupied by a number of tenants, including Prosperity Bank and the Sneed Vine & Perry and Wright & Greenhill law firms. The nine-story parking garage is about a block away at 816 Colorado St.

…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)