AUSTIN-A New York investor steps up to buy a 9,214-sf building along Camp Craft Road. The buyer gets a tenant signed to a five-year lease. ASC Management was seeking $1.7 million for the one-year-old structure.
AUSTIN-Occupancy overall is up slightly while rents, across the board, continue to drop. The conclusion is Austin may be close to the bottom of the cycle. It's only the second time in a decade that occupancy rose after college students left.
SAN ANTONIO-Occupancy across the board picked up in the second quarter after two previous quarters of declines. The latest count puts occupancy at 92.72%. The increase, though, haven't erased the concessions.
AUSTIN-Revenue is up $800,000 from last year at this time, but it's not enough to stave off a loss, says the Austin-based bingo hall and hospitality owner. Of the $237,109 backslide, $147,500 is tied to a legal settlement.
AUSTIN-Copy Sense, a photocopying service, moves in Aug. 1 to a first-floor spot in Austin's CBD. The Shidler Group and Angelo Gordon jointly own the structure, which is in the midst of a makeover.
AUSTIN-Air cargo traffic, a measure of economic activity, was off 7% in the latest year-to-year comparison at Austin-Bergstrom International Airport. But, June's trade shows just how tight conditions are: 276,804 pounds versus 2.4 million pounds in June 2001.
SAN ANTONIO-Occupancy across the board picked up in the second quarter after two previous quarters of declines. The latest count puts occupancy at 92.72%. The increase, though, haven't erased the concessions.
SAN ANTONIO-Tarragon Realty acquires the 99%-occupied Forest Oaks at 6313 Evers Rd. in northwest San Antonio. Lend Lease puts up the capital for the 166-unit complex. The seller is a Dallas-based limited partnership.
AUSTIN-In all, 11,776 sf is spoken for in a submarket with a 17.5% vacancy. Celite Systems, which already occupies 11,156 sf, took another 3,476 sf from Sun Microsystems at Lakewood on the Park.
AUSTIN-The CBD and southern submarkets will be the ones to watch when the market starts its recovery, says Holliday Fenoglio Fowler in its latest "White Paper." Rents will remain flat, possibly even backslide, until the calendar turns.