Construction has started on a second Westin hotel in Austin — a 366-room hotel that will rise 17 stories at the northeast corner of East Fifth Street and San Jacinto Boulevard.
The hotel is expected to generate significant economic benefits, including about 140 permanent jobs and an estimated $6.3 million in taxes annually in property, sales and City of Austin taxes. …Read Entire Post
CRAVE, selected as one of the Hot Concepts! award winners in 2011 by Nation’s Restaurant News, is opening a new location in the former Roy’s restaurant space at 340 E. Second Street in Austin’s Convention Center District. The space sat vacant for over three years while the landlord worked patiently to identify the best tenant to occupy the space.
Currin J. Van Eman, Vice President, NAI REOC Austin and Jack Breard, President, UCR Urban co-brokered and represented CRAVE in their lease of 8,500 square feet. …Read Entire Post
Cousins Properties Inc., the Atlanta-based developer that built Austin’s Frost Bank Tower, recently broke ground on a Colorado Tower – a 29-story office building that will span roughly 371,000 square feet at Third and Colorado streets. Construction is expected to be completed November 2014.
According to Cousins’ press release, pre-leasing activity includes two high-profile companies – DuBois, Bryant & Campbell LLP and Scott, Douglass & McConnico LLP.
Also underway is IBC Bank Plaza – a 13-story, 194,794-square-foot office tower which broke ground in April at 500 W. Fifth St. and scheduled to open in Spring 2014. …Read Entire Post
Bank of America Tower
The sale of Bank of America Tower, which has been in the works since last fall, is about to close, according to an article released by the Austin Business Journal. Dallas-based Stream Realty is set to purchase the 26-story downtown tower located at 515 Congress Avenue which has been owned by T. Stacy & Associates. The sale price was not disclosed but the property is valued by the Travis Central Appraisal District at more than $70 million. …Read Entire Post
Seaholm Power Plant
The papers are signed. The City of Austin has conveyed the Seaholm Power Plant on the southwestern edge of downtown to Seaholm Power, LLC – the developer who has plans to redevelop the property into a $100-million mixed-use project. The beloved landmark, sitting on five acres of prime waterfront property, will be converted to 60,000 square feet of office space that will feature a plaza and green space open to the public. In addition, the construction of a two-story retail building is expected to be complete by next summer which will be anchored by California-based specialty grocer Trader Joe’s. Construction of a 30-story apartment building featuring approximately 300 units will take about 30 months to complete. …Read Entire Post
323 Congress Ave.
Three historic downtown buildings, commonly known as the Swift Building, the Day Building and the McKean-Eilers Building, were recently purchased by local investment group Cielo Realty Partners. The three buildings, which date back to the late 1800’s, are located at 315, 319 and 323 Congress Avenue and span roughly 46,000 square feet. …Read Entire Post
Searsucker will open its third U.S. restaurant in downtown Austin in the former Maria Maria space at 5th & Colorado St. The 7,500 square-foot restaurant is scheduled to open in May.
Searsucker was represented by Restaurant Real Estate Specialists Currin J. Van Eman – Vice President NAI Austin and Hannah Douglas. The Landlord, DOROT, LP, was self-represented. …Read Entire Post
West End Center
The West End Center (50,100 sf), located at 1214 W. Sixth St., has been renamed West Side Village by new owner AWSV LP. The mixed-use property, anchored by Julian Gold is expanding its space by 5,000 square feet to total roughly 15,000 square feet. …Read Entire Post
Perry Brooks Building
A local software company plans to leave Southwest Austin (Barton Creek Plaza) and move its headquarters downtown next year to accommodate more employees. Price optimization software developer Zilliant Inc. plans to take 24,000 square feet at 720 Brazos St.— or the entire sixth floor of the Perry Brooks Building— in spring 2013, company officials said in a news release. The new space will allow the company to increase its workforce by 25 percent, Zilliant officials said.
Click to read entire article: Austin software developer Zilliant to move HQ downtown (Austin Business Journal, 11-12-12)
Rumors had WhaleShark Media Inc. moving into the signature space at the Seaholm Power Plant project, but in the end, the online coupon giant decided to stay in the same downtown Austin building where it has been located since 2011 — 301 Congress Ave. WhaleShark executives signed a lease for 95,000 square feet – 60,000 square feet more than the company currently occupies.
Click to read entire article: WhaleShark Media signs big lease downtown (Austin Business Journal, 11-20-12)