AUSTIN-Stan Erwin goes from managing director to senior managing director while Max Moss becomes a vice president after being an associate in the 92-member Austin office. Erwin has been with the company since 1985. Moss joined in 2000.
AUSTIN-Software company Zilliant benefits from the market conditions, renewing at a lower rate than its original contract inked several years ago. The brokers won't go into detail, but everyone knows tenant retention is an important market engine.
SAN ANTONIO-Austin Investor Interests fell slightly to 91.8%, but the usual first-quarter surge should notch it up to 92%. That and even market concessions couldn't cast a pall over the closing table, where owners got the highest per unit price in a decade.
AUSTIN-Occupancy fell to 88.4% while rent, across the board, also declined in the fourth quarter to take average to $699 per month, a drop of $14 in one quarter. Austin Investor Interests says concessions prevail at more than 83% of the properties.
SAN ANTONIO-LB Investments leases 2,075 sf in the Acacia Building, a 45%-occupied suburban office building at 7551 Callaghan Rd. in San Antonio. Transwestern Commercial Services negotiated the pact.
SAN ANTONIO-The owners aren't rushing into the plan, but redevelopment is a pretty sure bet for the site, just north of downtown San Antonio. A Feb. 4 auction is planned for the equipment as the owners plot a mixed-use adaptive reuse.
SAN ANGELO, TX-A Weatherford, TX developer restructures financing to improve cash flow and lower the interest from the rate in 1986 when Lake Nasworthy Estates were built. The 40-acre development is situated at 7702 Sentinel Circle.
SAN ANTONIO-Archon marks its entry into the San Antonio retail market with the purchase of shuttered Albertsons stores. The turn-over plan is to re-tenant the properties for various uses, hiring Transwestern for the job.
AUSTIN-Would-be buyers are always knocking on Goodwill Industries' door for the 47,000-sf building on 1.78 acres. The non-profit group says it's now ready to sell since it's outgrown the site on the western edge of the CBD.
AUSTIN-The University of Florida secures 1,444 sf at the Stratum Executive Center so it can be close to its research partner on a child development project. The university signs for three years in the USAA Realco-owned complex.