Category: Central/South Texas

Boston investor shells out big bucks for one of downtown Austin’s newest skyscrapers

Posted on by ginger

The downtown Austin office tower dubbed “5th+Colorado” has sold for a stunning $663 per square foot — a total of nearly $119 million, according to Real Capital Analytics.

The buyer was Intercontinental Real Estate, a Boston-based company that owns other office assets in Austin.

The seller was a joint venture of Goldman Sachs and Lincoln Property Co., an avid developer and commercial real estate brokerage in Austin. Michael McDonald of Eastdil Secured handled the deal.

McDonald is accustomed to pushing the envelope when it comes to securing top dollar.

Click to read more at Austin Business Journal.

28 major real estate deals going down in Austin

Posted on by ginger
 Austin-based Aquila Commercial cranks out some of the best commercial real estate reports I’ve seen in my career. Earlier this week, I wrote about some of the analysis about downtown Austin parking costs, outmigration trends and traffic stats, and now here are some specific deals and data of note during the second quarter:
 
Click to read more at Austin Business Journal.
 

Look inside gleaming new downtown Austin skyscraper that Google will soon call home

Posted on by ginger

Another latest and greatest skyline moment is upon downtown Austin.

The 29-story office tower that will house Google Inc.’s regional offices and several other noteworthy firms is now open for business.

Located at 500 W. Second St. and formally called “500 West 2nd,” the glass and steel structure was developed by Trammell Crow Co. in partnership with Principal Real Estate Investors.

Click to read more at Austin Business Journal.

Austin construction activity strong, but not as robust as other U.S. cities

Posted on by ginger

Views in every direction across the Austin metro area seem to tell a story of unprecedented construction activity — and there are hundreds of projects underway.

In the Aug. 11 weekly edition, I survey some new developments that may have escaped detection because of their location or modest stories.

Click to read more at Austin Business Journal.

Small tenants ‘are getting squeezed’ even as Austin adds massive swaths of industrial space

Posted on by ginger

Several huge industrial projects are under construction in Austin, but the type of buildings being delivered likely won’t help users with smaller needs.

That’s the conclusion of Troy Martin, an associate with NAI Partners in Austin.

Click to read more at Austin Business Journal.