AUSTIN-Rising office vacancy has hit the pocketbook of building owners, with rent dipping 42 cents per sf between first quarter and Q2 closings. The average now rests at $27.15 per sf, with the CBD being hardest hit as rates plummet $4.20 per sf.
AUSTIN-Retail has lost some ground in the Austin market. The slight decrease is the first recorded since 1992 when NAI/Commercial Industrial Property started tracking retail. On a bright note, it's not predicted to plummet like the office market.
AUSTIN-Rising office vacancy has hit the pocketbook of building owners, with rent dipping 42 cents per sf between first quarter and Q2 closings. The average now rests at $27.15 per sf, with the CBD being hardest hit as rates plummet $4.20 per sf.
AUSTIN-The review has started on six proposals to steer Austin's plans for a mixed-use development of the 709-acre former Robert Mueller Municipal Airport. Developers have come from near and far to win the master developer's role.
AUSTIN-The state capital's sublease market is taking a rest, says a regular market tracker in his latest report. A 2,000-sf decline is certainly not an indication that Austin's office market, which boasts about 2.9 million sf of sublease space, has stabilized.
SAN ANTONIO-The Illinois-based Medical Evaluation Specialists is staying put in the city's medical center corridor. The firm's 3,685-sf renewal is for the 135,709-sf Crown Atrium, a five-story office-retail center in the northwest submarket.
AUSTIN-Changes abound for InfoGlide Software, which has undergone a name change, found a new high-tech partner and plans a relocation into smaller offices. InfoGlide has cut a deal to take some of Concero's excess space at Bridgepoint III.
AUSTIN-The state capital's sublease market is taking a rest, says a regular market tracker in his latest report. A 2,000-sf decline is certainly not an indication that Austin's office market, which boasts about 2.9 million sf of sublease space, has stabilized.
AUSTIN-Broadwing Communications has connected with Hotel Net Inc. in an $18-million deal to provide reservation and business services to 1,700 hotels nationwide. The Austin-based broadband provider maintains an 18,500-mile optical network.
AUSTIN-Advocates Advantage, a startup law firm consultant, has launched its office at the Schoolyard, situated along Bee Cave Road. Commercial Texas LLC and Kennedy-Wilson's Austin office have negotiated the sublease pact.