Category: Central/South Texas

CBRE Arranges Sale Of Clinical Research Facility In San Antonio

Posted on by ginger

CBRE Capital Markets announces the sale of an 80,000-sq.-ft. specialty medical building on the CHRISTUS Santa Rosa medical center campus in San Antonio. PPH Real Estate, LLC, a partnership of local physicians and investors, purchased the building at 5109 Medical from Stream Realty Partners for an undisclosed price.

Scott Herbold of CBRE Capital Markets’ Investment Properties, Healthcare, arranged the sale on behalf of Stream Realty Partners.

The four-story building at 5109 Medical Drive was constructed in 2008 on a long-term ground lease with CHRISTUS Health. It was specially designed and built for overnight clinical research studies for pharmaceutical R&D. The buyer is working with CHRISTUS to bring additional services to their medical center campus.

The facility is highly finished and includes 38 semi-private rooms for 100 patient beds and 22 restrooms, a clinical laboratory and a pharmacy.

 

Report: 34% of Austin office space devoted to tech sector

Posted on by ginger

Austin ranked No. 1 in the technology sector’s share of “major leasing activity” among 30 North American markets, according to a report by Los Angeles-based real estate giant CBRE Group Inc.

The Texas capital also ranked No. 6 in annual tech-job growth, No. 10 in both rent growth and net absorption of tech submarkets (northwest Austin) and No. 11 in overall tech office rent growth.

Released on Nov. 8 by CBRE Group Inc., the annual study measures the tech industry’s impact on office markets.

Click to read more at Austin Business Journal. 

2017 looks like another record-setting year for Austin home market; Builders experimenting with lower-cost options

Posted on by ginger

The Austin metro housing market is on pace for another record-setting year.

There were 2,292 single-family home sales in October, according to new Austin Board of Realtors data released Tuesday. The region is on pace to record more than 30,600 sales in 2017, compared with 29,569 last year.

And a recent report by Realtor.com found the median home price in Austin increased 63 percent from 2006 to 2016, the fastest rate in the nation for large metros.

The October figure was up 2.2 percent from the same month a year prior. Much of the growth was concentrated in the suburbs: Single-family home sales increased 1.4 percent year-over-year in October in Travis County, which is home to the majority of Austin proper, while Williamson County to the north saw 5.4 percent growth and Hays County to the south saw 6.2 percent growth.

Click to read more at Austin Business Journal. 

$200M real estate fund launched by developer behind huge Hutto business park

Posted on by ginger

Titan Development, the company building a 72-acre business park in Hutto north of Austin, has closed the first round of funding on a $200 million real estate fund to fuel its pipeline of more than 20 projects.

Titan Development Real Estate Fund I, a private equity fund, was established in April and ended its first round of funding in early October. Currently Titan Development’s pipeline consists of projects in several asset types including multifamily, senior living, self-storage and industrial. Additional financial details were not disclosed.

Click to read more at Austin Business Journal. 

$200M project with homes, shops, offices headed to Round Rock; Officials say it would ‘raise the bar’ for area

Posted on by ginger

A California real estate firm wants to invest $200 million in a mixed-use development at the busy intersection of State Highway 45 and I-35 in Round Rock.

Round Rock is considering offering incentives for the master-planned project, which would include at least 1 million square feet of commercial and residential development. That’s roughly equivalent to what Barton Creek Square mall has to offer, in terms of square footage.

Click to read more at Austin Business Journal.

While Oracle puts finishing touches on new Austin office, tech giant buys more adjacent land

Posted on by ginger

Oracle Corp. appears to planning for expansion of its Southeast Austin campus even before the $300 million-plus development is completed.

Public records show that Oracle America Inc. purchased around six acres at 2225 Elmont Drive, directly south of its 560,000-square-foot campus now under construction. The six-acre plot of land was purchased from an entity formed by Cypress Real Estate Advisors.

Click to read more at Austin Business Journal.