REOC Austin
Commercial Real Estate Since 1975


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

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Work to start on Rollingwood Center

Endeavor Real Estate Group is about to break ground on Rollingwood Center on BeeCave Road.  The project will consist of two office buildings — one a four-story structure with 155,000 square feet and the other a two-story building with 60,000 square feet.

The project’s cost will be about $50 million, with the buildings scheduled to be ready in early 2015.

LatinWorks, an award-winning Austin advertising agency, will initially …Read Entire Post


New year to bring a new office project to Southwest Austin

Construction is scheduled to start on a 250,000-square-foot office building in the San Clemente development at Capital of Texas Highway (Loop 360) and Westlake Drive.

Located in Southwest Austin, the HPI Real Estate Services & Investments project will be built for more than $70 million.

Austin-based Spiceworks has signed a lease for 96,000 square feet to anchor the five-story building.

The building Spiceworks will occupy will join six others in the San Clemente office-and-retail development, which is slated for eight …Read Entire Post

Colorado Tower reports pre-leasing activity

Colorado Tower, the 373,000-square-foot, Class A office tower under construction downtown at 303 Colorado Street, recently reported three sizeable leases totaling 79,000 square feet.

Pre-leasing activity included DuBois, Bryant & Campbell LLP (24,342 sf), Scott, Douglas & McConnico LLP (40,011 sf), and Munsch Hardt Kopf & …Read Entire Post

State Farm sells Amber Oaks facility to WP Carey

State Farm Operations Center 8900 Amberglen Blvd.

State Farm Operations Center
8900 Amberglen Blvd.

State Farm Mutual Automobile Insurance Company recently sold its office facility (448,898sf) located at 8900 Amberglen Blvd. near Parmer Ln. and SH 45 in the 263-acre master-planned Amber Oaks Corporate Center.  New York-based W. P. Carey Inc., a real estate investment trust (REIT), purchased the property for $110 million.  The transaction includes an agreement for State Farm to lease the property back for 15 years, with two five-year renewal options.

…Read Entire Post

Two office buildings slated for The Domain

Domain 7 Rendering courtesy Endeavor

Domain 7 Rendering courtesy Endeavor

The Domain, a growing North Austin mixed-use development located off MoPac and Burnet Road, is slated to add two new office buildings totaling 362,000 square feet in Domain 2 (140,000 sf) and Domain 7 (222,000 sf). 

Austin-based HomeAway Inc. has reportedly committed to 115,000 square feet in the planned five-story Domain 2 building.  The space is expected to accommodate 750 employees for the online vacation rental service.  HomeAway plans to take occupancy of the building in September 2014.    …Read Entire Post

Two new office towers underway in downtown Austin


Colorado Tower

Colorado Tower

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

Stream set to close on Bank of America tower

Bank of America Tower

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

Developers plan 220,000-square-foot Champion office project

Champion Park

Champion Park

In a nod to Austin’s promising economic future, Austin-based Endeavor Real Estate Group and Granite Properties plan to start construction soon on a 220,600-square foot office campus in northwest Austin — the first major office project to launch in the area in almost five years.

Champion Office Park is slated for the northwest corner of RM 2222 and Capital of Texas Highway (Loop 360). The project will have two four-story buildings, one with 116,800 square feet and the other with 103,800 square feet, Endeavor officials told the American-Statesman. …Read Entire Post

MIG buys Barton Oaks Plaza in SW Austin

Barton Oaks Plaza

Barton Oaks Plaza (99,404 sf), located in the Southwest sector at 901 South Mopac Expy., has recently been acquired by California-based MIG Real Estate.  The Class A office building was reportedly 96% leased at time of sale. …Read Entire Post

River Place Corporate Park lands 50K sf VMware lease


River Place Corporate Park

VMware Inc. leased 50,000 square feet at River Place Corporate Park, 6500 River Place Blvd., for a second location. Other tenants of River Place include Motorola, ShoreTel and Edge of Reality.  Headquartered in Palo Alto, Calif., VMware Inc. opened its first Austin office in 2006 and employs about 500 workers.

Click to read entire article: Real estate roundup (Austin Business Journal, 11-21-12)