Homes, shops, offices to spring up near Dell HQ

A California real estate firm is poised 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 City Council unanimously approved last month a memorandum of understanding with Mark IV Capital for 65.5 acres on Greenlawn Boulevard.

City officials may offer 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. 

More high-rise homes, offices and shops set to go vertical near The Domain in Austin

More than five years have passed since I wrote about fledgling real estate development and brokerage company Capella Commercial LLC. A lot has happened since.

The firm has built more than 500,000 square feet of self storage in multiple locations across the Austin metro with another 500,000 square feet that will be completed around the country by the end of next year. Some of those projects are underway in Tulsa, Oklahoma; Birmingham, Alabama; and Nashville, Tennessee.

 Click to read more at Austin Business Journal. 

More industrial space to rise in Buda; $14M earmarked for ‘economic activity’ hub

An industrial complex with more than 600,000 square feet of leasable space is set to rise on a 30-acre parcel of grassland just east of I-35 in Buda, south of Austin.

Exeter Property Group hopes to break ground on the first phase — a 300,000-square-foot building — in early 2018. Hays County has agreed to an incentives deal that would rebate 15 percent of the property taxes for the site at buildout, increasing to 30 percent once the developer finds a tenant with at least 50 employees.

Click to read more at Austin Business Journal.

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

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

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

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.