AUSTIN-That's not just any storage facility going up in North Austin. The developer has factored in a conference room and full-loading dock for added business appeal. Braker Storage Ltd. acquired the site from Suburban Lodges, which abandoned a plan to build.
AUSTIN-In the last two weeks, sublease space has grown by 30,000 sf to take the present total to 3.699 million sf in all product classes. The steadily climbing sector has pushed rent down across the board, with the average contract length dropping as well.
BRYAN, TX-A market source says the demographics are such that the 336-unit Signature Park should bait 50-plus offers and more than the $21-million asking price. The complex is 92% occupied, but could be 100% by August when school starts again.
AUSTIN-The Austin-based multifamily high-tech provider shifts to the Nasdaq Small Cap market after trading for less than $1 per share since March. In line with the move, the company puts in Roy Rose as chairman.
AUSTIN-Advanced Programming Concepts, a defense contractor, takes 41,000 sf in the far northwest submarket of Austin. The building once housed Agillion.com, one of the city's most well-known dot-bombs.
AUSTIN-Tom Pagel is coming from Houston as Yancey-Hausman revs up a plan to corner more of Austin's retail market. The firm has about 100,000 sf of retail in the Capital City and plans to buy and build more with the inbound veteran at the helm.
AUSTIN-The student housing developer takes the class A office space off the hands of Dell Computer Corp. The tenant will exit Austin Centre in the CBD for the 160,000-sf Las Cimas III in the southwest submarket.
AUSTIN-A 132-room SpringHill Suites opens its doors at the intersection of Interstate 35 and Parmer Lane. It is the brand's third facility in Austin. White Lodging Services of Indiana is the owner and operator.
AUSTIN-Expansion in Central Texas takes the other Seattle-based coffee purveyor out of Texas airports and into shopping centers. Tech Ridge Center and West Parmer Lane are the chain's first Texas shops outside airport terminals, but not for long.
SAN ANTONIO-Lewis Friedland, former COO for American Industrial Properties, and San Antonio's USAA Real Estate form a private equity firm, Cobalt Capital Partners. The plan is to buy light industrial and suburban office product in top-tier US cities.