Kim Gatley Sr. Vice President & Director of Research NAI REOC Austin (bio) Got a Commercial Real Estate Need or Question? Ask One of Our Trusted Advisors
In one of the area’s larger office deals in recent years, Austin-based Aquila Commercial has brokered the $95 million sale of three Austin office buildings to two of its clients, including one building that will be the new headquarters for fast-growing University Federal Credit Union.
University Federal Credit Union plans to consolidate about 250 administrative workers from four locations into the newly purchased building, called 8303 MoPac. Sitting at MoPac Boulevard (Loop1) and Steck Avenue, the 246,000-square-foot building was built in 1987 and is 94 percent leased. …Read Entire Post
NAI REOC Austin was proud to support the 6th Annual Central Texas CCIM Symposium held on Jan 31st at The Sheraton Austin Capitol. Participating on behalf of NAI REOC Austin was Josh Hubka, CCIM, who serves as this year’s president of the local CCIM chapter. In addition, Rob Eaves and Hilton Hunt both served as volunteer committee members. Annie Hilton, CCIM of Duff & Phelps also served on the committee.
Dr. Mark Dotzour, Chief Economist and Director of Research for the Real Estate Center at Texas A&M University, delivered the keynote address updating attendees on the good news and remaining challenges in the economy. Dotzour likened the national economy to a jack-in-the box and explained that there is real energy being generated. He pointed to factors such as climbing corporate profits, increased manufacturing orders, and growth in retail sales. He also reported that banks now have an improved capacity to make loans, especially Texas banks which stand in better stead than the national average. …Read Entire Post
Things are looking up in the world of commercial real estate lending. According to National Real Estate Investor’s annual Borrower Trends Survey, more than half of lenders (56 percent) and 44 percent of borrowers are predicting that credit will be more widely available in the coming year. …Read Entire Post
Duke Realty acquired a four-story medical office building on the campus of the Cedar Park Regional Medical Center. The purchase price of the 83,383-square-foot building was not disclosed.
The acquisition brings Indianapolis-based company’s holding in the Austin area to more than 180,000 square feet of medical office space, and its total Texas portfolio to nearly 1.2 million square feet.
C-III Capital Partners LLC (C-III) announced today that it has completed its previously announced acquisition of NAI Global, the largest and premier network of independent commercial real estate firms worldwide.
C-III is led by CEO Andrew L. Farkas, who founded and was Chairman and CEO of Insignia Financial Group, Inc. (NYSE:IFS). …Read Entire Post
In direct correlation with an improving job market, Austin office market fundamentals continued to improve in the final quarter of 2011. Healthy leasing activity, especially in the North and Northwest submarkets, contributed to positive net absorption that topped one million square feet for the year. Citywide vacancy remains elevated at 17.4% but significantly improved compared to more than 20% recorded at the close of 2010. The Austin CBD closed the year with a vacancy rate of 13.7%. …Read Entire Post
Let’s say you own a C corporation that needs to raise some cash and you’re considering the sale of a warehouse that has been depreciated to zero. But the company still uses the warehouse and doesn’t want to lose control of it.
Think about entering into a sale-lease transaction. You buy the warehouse personally and then lease it back to the company.
According to the survey of more than 37.2 million square feet of industrial space, new leases and expansions generated a healthy 465,975 square feet of positive net absorption in the fourth quarter. The gain was more than enough to push the year-end total above 1.1 million square feet – a feat not accomplished in the local market since 2007. …Read Entire Post
Live Oak-Gottesman LLC purchased The Shops at Ladera Bend (7300 RM 2222) in Northwest Austin from Wells Fargo on Friday for an undisclosed amount.
Live Oak-Gottesman plans to lease and manage the property. Retail spaces ranging from around 1,050 square feet to 13,000 square feet are available for lease. Current tenants include Collins Endodontics and Anytime Fitness.
