As of January 2018, roughly 6.3 million positions remained open but unfilled in the United States—a record high. And a report by JLL predicts it will only get worse. The labor shortage has a significant effect on the commercial real estate market—resulting in higher vacancy rates, lower asking rents and greater concessions across markets. If there was “perfect employment” achieved in the US, JLL predicts national office asking rents would rise by 5%.—Lisa Brown

DEAL TRACKER

AUSTIN, TX—4544 S. Lamar, a 16,280-rentable-square-foot medical office building, was purchased by an undisclosed buyer from Steelwave LLC. The project was 100% leased at acquisition. The buyer was represented by Matt Fain with ECR and the seller was represented by Cathy Nabours and Walter Saad with HFF.

AUSTIN, TX—QuestionPro leased 1,605 rentable square feet of office space at 12710 Research Blvd. The landlord was represented by Rebecca Zigterman and Matt Levin with ECR and the tenant was represented by Mark Garner with Berkshire Hathaway TX Realty.

AUSTIN, TX—Crossfit & Fearless leased 3,682 square feet of space in the Stassney Business Park located at 1606 W. Stassney Ln. The tenant was represented by Tom Pagel with ECR and the landlord was represented by Andrew Criexell with CSA Realty.

AUSTIN, TX—Made By Cleo leased 896 rentable square feet of office space at the Hills Office Park, located at 4611 Bee Caves Rd. The landlord was represented by Haley Smith and Patrick Ley with ECR.

AUSTIN, TX—Child Neurology Consultants leased 8,119 rentable square feet of medical office space at the Waterleaf Building, located at 5301 Davis Ln. The landlord was represented by Haley Smith and Matt Levin with ECR.

AUSTIN, TX—Butler Burgher Group leased 941 rentable square feet at Chase Northcross, located at 7600 Burnet Rd. The landlord was represented by Jason Steinberg and Rebecca Zigterman with ECR and the tenant was represented by Ted Rohan with Avison Young.

AUSTIN, TX—Titan Valuation leased 2,624 rentable square feet at Chase Northcross, located at 7600 Burnet Rd. The landlord was represented by Jason Steinberg and Rebecca Zigterman with ECR and the tenant was represented by Dustin Riggs with Titan Real Estate.

AUSTIN, TX—Biderman's Deli leased 2,729 rentable square feet of space in Brazos Place, located at 800 Brazos. The landlord was represented by Tom Pagel with ECR, and the tenant was represented by Danny McKinley with Space Squared.

AUSTIN, TX—Digital Nebula leased 1,572 rentable square feet at 800 Brazos. The landlord was represented by Jason Steinberg and Matt Levin with ECR and the tenant was represented by Thomas Matheney with Colliers International.

CARROLLTON, TX—Kenia Group LLC leased 11,760 square feet at 1410-1416 Dunn Dr., suite 1412 in Carrollton.  Eric Crutchfield with Stream Realty Partners represented the landlord, Hutton & Dunn Investors LLC. Lee & Associates LLC represented the tenant.

DALLAS—Ed F. Davis, Inc. expanded 11,884 square feet at Northgate Distribution Center #1, 11501-11567 Hillguard Rd. Brad Lewis with Lee & Associates represented the landlord GLP. Corbin Stall and Ryan Wolcott with Stream Realty Partners represented the tenant.

DALLAS—Neenah Foundry Company leased 18,988 square feet at 1275-1281 Round Table Dr. Jason Moser with Stream Realty Partners represented the landlord, ATCAP Fund Dallas/OKC LP. Drew Feagin with Stream Realty Partners represented the tenant.

DALLAS—KOAM Corporation Inc. sold its 21,000-square-foot building at 2425 Arbuckle Ct. to ZSN Corporation. Ryan Boozer and Todd Poticny with Stream Realty Partners represented the seller, KOAM Corporation Inc. Holt Lunsford Commercial Inc. represented the buyer.

IRVING, TX—Freedom Furniture and Design Inc. leased 16,169 square feet at PARC 114-building 8, 6701 N. Belt Line Rd. Blake Kendrick and Jeremy Kelly with Stream Realty Partners represented the landlord, Colony Northstar. Bradford Commercial Realty Corporation represented the tenant.

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