Category: Austin Commercial Real Estate

Austin, Texas Commercial Real Estate

Office and Retail fundamentals down, Industrial Up in Q3 2020 Austin Market Report

Office and Retail decline while Industrial posts positive demand The Industrial market continues its surprised demand with distribution space driving the market to its 25th consecutive quarter of positive new demand. Net absorption increased to 696,000 SF Average asking rates increased to $9.88/SF Vacancy dropped to 9.7% 1.34 million SF of new construction continues forward. …

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Finding employment in Austin TX – professional advice

Article courtesy of Betty White, betty@movingofficessandiego.com Finding employment in Austin, TX, can be overwhelming, but the options are ample. The city has a reputation as one of the best places to live in the US. The job market is strong, and the business environment is progressive and entrepreneurial. Several tech companies have more than 5,000 …

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Austin leads country in new apartment deliveries through first half of 2020

Nationally apartment construction is at 5 year low, down 12% from 2019 Texas cities are the most active in apartment completion to date in 2020 Austin is leading this category nationwide Texas dominates with three more cities – Houston, Dallas, and Farmers Branch The Austin metro is fifth from the top for new construction projected …

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Q2 2020 Austin Office Market

Austin Office Market

Austin Sublease Space on the Rise Subleases in the Austin Office Market have skyrocketed with companies including Parsley Energy and GoDaddy listing over 100,000 square feet each. Sublease inventory is up 40% since the first of April, 2020. The number of subleases has more than doubled when comparing year over year. Despite the rise in …

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1617 A, W. 6th St, Austin, TX For Lease

1617 W 6th St ATX

Office For Lease 1617 A, W. 6th St, Austin, Texas 78703 1,464 SF $32/SF/Year Rent + NNN Date Available: 9/1/20 Lease Term: 3 + years Great location. Just west of downtown. Close to Vibrant downtown scene. 4 offices, 1 Conference Rm, 1 Restroom, 4 reserved parking spaces + common, 1 Kitchen, 1 Reception, . Call …

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Republic Drive, Kyle, Texas, 26 Acres For Sale

Kyle Warehouse Development Site

26 Acres For Sale, Kyle, TX. Can accommodate single user or 16 lot warehouse subdivision 25.98 Acres Warehouse Zoning All Utilities at Site Single user, Campus Opportunity Or 16 lot, preliminary platted, warehouse subdivision lots Asking Price: $4,245,000 or $3.75/SF Access: North bound Exit #215 off I-35 to Beebee Rd to Republic Dr. South bound …

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Austin MSA June Home Sales Rebound

Austin Housing 2020

Year over year home statistics in the Austin MSA improved in June. Median Sales Price up to $340,000, up 4%. Closed sales at 3,969 are an increase of 9%, which helped hold sales to only a 5.2 % decline during the first half of the year. Homes were on the market for 4 fewer days, …

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Austin Metropolitan Statistical Area (MSA) Housing Update

Austin MSA Single Family Residential graphics courtesy Independence Title Company, data by Texas A&M Real Estate Center.

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Real Estate Center at Texas A&M projects impact of COVID on 2020 Commercial Real Estate

Information above courtesy of Texas Quarterly Commercial Report Texas A&M Real Estate Center – Click Here for Link to Entire Report

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Great Contractor or Service Provider Property, For Sale at 2819 N. Bagdad, Leander, TX

Main House

Great property to run business from Drone Video of Site Asking Price: $1,400,000 Address: 2819 North Bagdad Rd also known as 4150 CR 279 4.07 Acres +/- 11,451 SF of Building Improvements 2 Houses for use as Office and 1 Bedroom Apt (4,775 SF) Swimming Pool with beautiful grounds / would work for Wedding Venue. …

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South Lamar Office Space For Lease, Two (2) Suites

3901 S Lamar Suite

First Floor, Suite 150 Size: 1,262 SF Term: 3-5 Yrs Asking Rent: $26.00 /SF/YR NNN: $13/SF/YR Use: Office Full Build-Out Available Now See Floor Plan Below 11’6″ Finished Ceilings Space is in Excellent Condition Fully Carpeted After Hours HVAC Available Third Floor, Suite 310 Size: 2,059 SF Term: 3-5 Yrs Rental Rate: $26.00 /SF/YR NNN: …

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April Home Sales in Austin impacted by COVID-19

Compared to April 2019, residential sales across the five county Metropolitan Statistical Area declined by 22%. Sales dollar volume fell 18%. Active listings declined by 7%. Housing inventory stands at 2.1 months, .2 months less than last year. Median sales price increased 3.2% to $325,000. Homes were on the market 9 fewer days or on …

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Austin Apartment Rent Falls with COVID 19 Outbreak

Rents dropped from March to April 1.2% which is in contrast to a year ago when rents jumped 5.7%. Occupancy was up .3% from March to April. Five apartment complexes in April had negative absorption – less units occupied than the previous month. An additional 4,500 apartments are expected to be delivered by years end. …

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Q1 Austin Industrial Leasing down, Development Up

Asking rates fell $.24/SF to $9.56/SF Vacancy increased to 10.8% Absorption fell to 222,416 SF 423,919 SF came online Total average construction rose to 1.2 million SF Data courtesy of CBRE.

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Q1 2020 Austin Office Market dips

Fundamentals have slowed when it comes to the first Quarter of 2020 Austin Office Market. Absorption increased to 600,000 + square feet. Triple net asking rates and OPEX costs caused the average asking rates to decline from $38.89/SF to $36.64 Quarter 1 2020 over Quarter 1 2019. Vacancy increased to 10.9%. Development remains strong with …

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Austin Housing Market Steady in March

Despite shelter in place orders from local government beginning on March 25th the local housing market remained strong. For the month residential sales were up 2.2 % year over year to 3,042 sales. The median price of homes increased from by 11.7% to $335,200. Monthly inventory dropped .7 months to 1.6 months (6-6.5 months of …

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Austin Construction Crews back to work

Governor Abbott’s Tuesday Executive Order clears the way for contractors in Austin to get back on the job. Mayor Adler agreed late Thursday after initially banning construction in Austin on March 24th. The previous ban on construction by Austin was in contrast to other metro areas in the state where construction work was deemed essential. …

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Industrial Development continues at record pace

A new development in Hays County has pushed the annual total of new construction in the Industrial sector to almost 1.9 million sf – an all time high. For past 3 years 5.4 million sf of new product has been delivered Over 1 million sf is currently under construction with 37% pre-leased. Citywide average asking …

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Austin Office Market Finishes 2019 Strong

ECONOMY – Austin job growth has continued to outpace national averages and our unemployment rate is one of the lowest in the country at 2.5% Major tech expansion included companies such as Facebook, Google, Amazon and Indeed. The growth trend is likely to continue as more companies look to expand their operations in Austin. CONSTRUCTION …

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Austin area home sales breaking records

In December the Austin Board of Realtors released their monthly report and home prices and sales have hit another historic high. Based upon November sales numbers it appears that 2019 sales will surpass the total number of homes sold last year. Last month sales rose 4.5% to 670 sales totaling 30,561 sales. This is just …

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Austin named CompTIA’s top 2019 Tech Town

CompTIA recently completed their 2019 Annual Tech Town Index. In this index of metropolitan areas the following categories were examined to come up with their ranking. Where companies are hiring Estimated projected job growth Median annual salary Average cost of living Austin is the 2019 leader with Dallas, Texas the next Texas city at number …

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Third Quarter 2019 Austin Office Market

RENT DOWN, VACANCY UP IN THIRD QUARTER OF 2019 Rent decreased and vacancy increased in the third quarter of 2019 Austin office market with a total of 1,250,402 square feet of negative net absorption registering in the Class A market.  Class B had 180,000 square feet of positive net absorption while Class C properties had …

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Austin Home Sales Setting Records

Home sales and median sales prices hit an all time high for the month of September according to a recent Austin Board of Realtors report.  In the Austin metro area, sales increased by 13.4% with 2,654 homes sold resulting in the busiest September ever.  The median sales price for September was $320,000, a 7% year …

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Austin Retail Market Update

Retail development is booming in Austin metro area with 1.28 million square feet of new space under construction in the area. 890,000 of the total is located outside the city in the suburbs. Occupancy remains steady at 96% although the average asking rate has dropped to $20.50/square foot. Click here for more detail => Growth …

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UNDER CONTRACT – For Sale 3200 Steck Ave, Suite 200

Property Type: Office Condominium Address: 3200 Steck Avenue, Suite 200, Austin, TX 78757 Size: 3,882 square feet Asking Price: $931,680 No. Units: 1 Sale Type: Owner/User Floors: 3 Typical Floor Size: 11,583 square feet Parking Ratio: 4 / 1,000 square feet Location: One block east of Mopac at NE corner of Steck Avenue and Shoal …

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Austin forecasted as Best City for 2020 Real Estate Investment

PricewaterhouseCoopers and Urban Land Institute have released their annual real estate investment outlook and for 2020 Austin is projected as the tops in the U.S. This is an improvement over 2019’s #6 finish. In 2018 Austin ranked #2 and was number 1 in 2017. Details of the reasons for the ranking include: Apple Computers plan …

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2019 Austin Apartment Construction

Over 10,000 apartments are estimated to be completed by the end of year in the Austin metro area. A 2.7% rise in population and continued job growth fueled this rise. Austin metro is 5th nationally for planned apartment construction. Last year 10,701 units were completed in the Austin metro area. The City of Austin leads …

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July Austin Home Sales Break Record

Austin area home sales set a record for number of sales in July with an 11.7% year over year increase to 3,439 homes sold according to the Austin Board of Realtors. Sales in Austin remain flat due to limited inventory. The median price for homes rose by 3.2% to $325,000 Sales dollar volume increased 15.4% …

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Texas Condominium and Townhome Sales drop from 2018-2019

Sales down and inventory up Condominium and townhome sales fell from 2018-2019 in Texas according to a report released by Texas REALTORS. Condo sales are down 8% and townhome sales are down 3% in the last year. Tray Bates, chairman of Texas REALTORS notes that the lower price compared to single family homes, the decreased …

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Q2 2019 Austin Office Market

Tech Companies Fuel Growth 528,811 square feet (sf) of positive net absorption Most absorption came from Class B buildings with 430,300 square feet of positive net absorption Q3 2019 is forecasted for Offices at Saltillo to deliver. Totals 150,000 sf and is 100% leased to Google. Biggest new construction delivery in Q2 was SXSW Center …

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