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 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
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
Austin has moved up a few spots on a list of top U.S. cities favored by foreign real estate investors, according to a survey released Tuesday by the Association of Foreign Investors in Real Estate.
The Capital City moved into the No. 8 spot up from No. 11 last year. Houston ranked seventh and Dallas snagged the No. 13 spot after not placing on the list since 1995.
The Austin area has been ranked No. 4 on the Milken Institute’s annual Best Performing Cities Index. The Capital City fell two spots from last year when it took second place. The 2011 index takes into account jobs, wages and technology performance among 200 large metros…. …Read Entire Post
Sprouts Farmers Market is shuttering three Austin-area stores, saying that a recent merger left the natural foods chain with too many locations packed too closely together. The stores at 2917 W. Anderson Lane (Hillside Shopping Center), 2805 Bee Cave Road (Shops at Mira Vista) and 5601 Brodie Lane (Sunset Valley Village) will all close by Dec. 18, Sprouts President Doug Sanders said.
Only 11.6 percent of Americans changed residences between 2010 and 2011, the lowest recorded rate by the census in 63 years and more evidence of the lingering effects of the housing bust and a sagging economy.
Among Americans on the move to a new state, however, Texas was the top destination, the Census Bureau said Tuesday. …Read Entire Post
Austin snuck into the top five markets to watch next year, according to annual Emerging Trends in Real Estate report from PricewaterhouseCoopers LLP and the Urban Land Institute. The Capital City was ranked No. 2 on the list following Washington D.C. San Francisco, New York City and Boston rounded out the top five.
Activity within Austin’s industrial leasing market supported a slowed but sustained recovery in the third quarter. Although the market is anxious to report big numbers confirmed that new industrial leases and expansions that commenced between the beginning of July and the end of September generated 63,786 square feet of positive net absorption. The pace of absorption slowed compared to last quarter’s impressive 532,993 square feet but the industrial market continues to move in the right direction evidenced by improvement in key market indicators. …Read Entire Post
Austin shopping centers and malls owned by Simon Property Group Inc.will soon debut a number of new retail stores. The shopping destinations that will house the new stores include The Domain, Barton Creek Square, Lakeline Plaza, The Arboretum, The Shops at Arbor Walk, and Gateway Center and Wolf Ranch Town Center. …Read Entire Post
North Austin is getting a new spot to order its eggs over easy. Colorado-based breakfast restaurant The Egg & I is opening its first Austin location sometime in late 2011 or early 2012 in a 3,600-square-foot space in Northcross Center at 2525 W. Anderson Lane.
Sprouts Farmers Market
