REOC Austin
 
Commercial Real Estate Since 1975

Moderator

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

Got a Commercial Real Estate Need or Question?


Ask One of Our Trusted Advisors

Boston investor acquires one of Austin's newest skyscrapers

 

Austin downtown skyline.

Austin downtown skyline.

The downtown Austin office tower dubbed “5th+Colorado” has sold for a stunning $663 per square foot — a total of nearly $119 million, according to Real Capital Analytics. The buyer was Intercontinental Real Estate, a Boston-based company that owns other office assets in Austin.

The seller was a joint venture of Goldman Sachs and Lincoln Property Co., an avid developer and commercial real estate brokerage in Austin. Michael McDonald of Eastdil Secured handled the deal. …Read Entire Post

FacebookTwitterGoogle+Share

UT regents ink first real estate deal with Merck at Dell Medical School

merck-coThe first steps in a real estate presence at the Dell Medical School at the University of Texas will be taken during a board of regents meeting.

Consent agenda item No. 35 on the University of Texas System regents’ docket authorizes a lease to Merck Sharp & Dohme Corp. at the UT Austin Health Discovery building at 1701 Trinity St. …Read Entire Post

The Parke finds a buyer

TheParkeThe Parke was recently sold to InvenTrust Properties Corp. for $112 million. The 404,000-square-foot center is anchored by the only Texas location of 365 by Whole Foods Market, the smaller, tech-centric concept from Austin-based Whole Foods Market Inc. …Read Entire Post

Google gobbles up more space in new downtown Austin high-rise

Google leasing an additional 100,000 sqft.

Google leasing an additional 100,000 sqft.

Google is growing its downtown Austin footprint, even before its first employees set foot in the company’s new space in the sleek new office tower called 500 West 2nd.

Google’s new space will consolidate employees from other locations, including North Mopac Boulevard (Loop 1) and University Park just north of downtown. In 2015, Google confirmed that it had signed a lease for more than 200,000 square feet of space in 500 West 2nd. …Read Entire Post

Central Health plans to expand

Central Health plans to expand health services into Eastern Travis County, expanding access to care to areas with few resources. The Del Valle area, Northeast Travis County, Manor Road and Community First! Village may soon have access to more health care services and clinics. …Read Entire Post

Whole Foods may be Expanding HQ

wholefoods_logoWhole Foods Market Inc. appears to be taking steps to expand its downtown Austin corporate headquarters to a development under construction across the street.

Whole Foods would occupy a second building that could be built at 835 W. Sixth St., where Schlosser Development Co. is building the Shoal Creek Walk office tower. …Read Entire Post

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.

…Read Entire Post

Brew pub inks lease in downtown Austin garage

Austin City Council approved Thursday a 60-month lease with Easy Holly LLC for 3,580 square feet of at 417 Red River Street, inside the city-owned garage that is catty-corner to the convention center. Austin City Council has approved a 60-month lease with a brew pub for space inside the Austin Convention Center parking garage. …Read Entire Post

Susan Sarandon's proposed downtown Austin ping-pong bar

Spin Austin — a ping pong-themed restaurant and bar with similar locations in other tech-heavy cities around the nation — is bouncing along with plans to occupy two buildings on the southeast corner of Fifth and Lavaca streets.

The remodeling of 209 and 213 W. Fifth Street was registered with the Texas Department of Licensing and Registration by Robert Hersch with Mastodon Ventures Inc., an Austin-based advisory firm focused on the restaurant industry. A request for interior demolition permit is active in the city’s development services department. …Read Entire Post

Summit at Rivery adds tenants as city acts on retail plan

The Summit at Rivery Park, the 32-acre mixed-use development between Rivery Boulevard and Williams Drive, will see new locations for Orangetheory Fitness and Woops BakeShop open by the fall, according to the companies.

The boutique retail development’s owner expects to add several more tenants before the end of 2017, including a brick-oven pizza restaurant, according to Jeff Novak, managing partner with Novak Brothers, the company behind the retail development. …Read Entire Post