AUSTIN-Stratus Properties is saying "yes" to some construction projects and reconsidering others while it nears completion on an office building in Austin's southwest submarket. The Austin-based developer reports $3.1 million in net income for Q3.
ROUND ROCK, TX-Greenlawn Shopping Center in Round Rock is used to secure a 10-year, fixed-rate loan through Bank of America. Holliday Fenoglio Fowler LP of Dallas arranged the financing package for the 105,832-sf center.
AUSTIN-Hilton Hotels stamps a 1,850-sf lease in the historic Paggi Building at 503 Neches. The office spot will be used for a sales office for the 30-story, 800-room Hilton Austin, which delivers in January 2004.
SAN ANTONIO-The San Antonio market, the smallest of the Texas metropolises, was doing OK until the third quarter. Now, direct vacancy is 14.1% instead of 12.4%. Factor in sublease space and the city's pinch is now up to 18%.
AUSTIN-Schlotsky's, an Austin-based sandwich shop operator, says it's time to focus on systemwide growth. The focus comes with a 358% in third quarter net income growth and 155% jump in revenue. The chain has 692 locations, of which 29 are company owned.
AUSTIN-Trilogy, with the blessing of the building owner, is cutting some fast-breaking sublease deals for Shepherd Mountain Plaza in the northwest submarket. A business consulting firm shores up a pact in a week for 8,060 sf.
AUSTIN-It's only a 4,200-sf building, but the reopening of the historic structure is a big step for East Austin. Balcones Recycling is using the rehabilitated office building for its headquarters in a 10-year lease.
AUSTIN-Samuels Jewelers hires Gordon Brothers Retail Partners and the Ozer Group to oversee the shutdown of 38 stores in the 163-location, 23-state chain. The stores will close at the end of January 2002.
SAN ANTONIO-The San Antonio market, the smallest of the Texas metropolises, was doing OK until the third quarter. Now, direct vacancy is 14.1% instead of 12.4%. Factor in sublease space and the city's pinch is now up to 18%.
AUSTIN-A highway project, sure to draw more commercial development, gets a green light from Austin City Council. The governing body will kick in $27.5 million to extend MoPac Expressway to the new Texas 45, a $500-million undertaking.