BY THE NUMBERS
AUSTIN, TX—CBRE has released the first quarter 2017 Office MarketView. Construction and deliveries set the market pace for 2017–developers delivered 1 million square feet in the first quarter and an additional 1.7 million square feet is underway. Despite positive demand, absorption fell from previous quarters–Austin absorbed 91,000 square feet in first quarter 2017, yet CBRE Research is tracking several deals in the pipeline that may offset the slow start.
NEWS AND NOTABLES
DENVER—The National Association of Real Estate Editors has opened registration for its 51st Annual Real Estate Journalism Conference June 14-17, 2017. NAREE's conference, which begins the morning of June 14 at the Brown Palace Hotel, will attract scores of journalists from major newspapers and prestigious publications from around the nation and Europe. The conference features speakers covering commercial and residential real estate topics, green building, architecture, hotels, mortgage lending, mixed-use development, single-family investing and vacation properties. Speakers will include chief executive officer Douglas Yearley of Toll Brothers, Marilyn Wilson of the WAV Group, Rohit Anand of KTGY Architecture and chair Scott Muldavin of the Counselors of Real Estate. NAREE's conference programming will feature several chief economists including Kevin Thorpe, Cushman & Wakefield; Lawrence Yun, National Association of Realtors; Nela Richardson, Redfin; Brad Hunter, HomeAdvisor, and Ralph McLaughlin, Trulia.
HOUSTON—Lee & Associates-Houston announced the expansion of its industrial brokerage team as Tim Thomas joins the firm as a director. Thomas specializes in the acquisition and disposition of industrial and land assets.
DEAL TRACKER
AUSTIN, TX—Applied Systems has renewed its lease for 1,641 square feet at Hartland Plaza. AQUILA Commercial represented the landlord and Cushman & Wakefield represented the tenant in the transaction.
AUSTIN, TX—Legacy Education Inc. leased 13,684 rentable square feet of office space at 1044 Liberty Park Dr., located in central Austin west of downtown. The landlord was represented by Matt Levin and Matt Fain with ECR and tenant represented by Tim Mooney with Lead Commercial.
AUSTIN, TX— Quality Innovation leased 2,415 rentable square feet at Summit Point, located at 2512 South IH-35. The landlord was represented by Jason Steinberg with ECR and the tenant was represented by Reid Gilbreath and Lucian Morehead with Asterra Properties.
AUSTIN, TX—Interstruct leased 771 rentable square feet of office space at the Wells Fargo Building located at 2028 E. Ben White Blvd. The landlord was represented by Rebecca Zigterman, Jason Steinberg and Matt Levin with ECR, and the tenant was represented by Spencer Holbert and John Childers with JLL.
AUSTIN, TX—On behalf of an affiliate of Toronto-based Eastbourne Investments, JLL's Capital Markets experts has completed the sale of Oak Creek Plaza. Austin-based TMF Health Quality Institute purchased the property. JLL senior vice presidents Jeff Coddington (capital markets) and Kevin Kimbrough (agency leasing) led the sales team.
COLORADO SPRINGS, CO—Holliday Fenoglio Fowler LP secured a $41.9 million refinancing for Advenir at Spring Canyon, a 292-unit, garden-style apartment community. HFF worked exclusively on behalf of Advenir Inc. and Dome Equities to place the seven-year, floating-rate loan with Freddie Mac's Green Program. The securitized loan will be serviced by HFF, a Freddie Mac multifamily approved seller/servicer for conventional loans. Advenir at Spring Canyon is located at 4510 Spring Canyon Heights.
GEORGETOWN, TX—Marcus Hiles of Western Rim Investment Advisors Inc. purchased agricultural land in Williamson County located at 0 Westinghouse Rd. The financing institution on this $42.33 million deal was BBVA Compass, according to Enriched Data.
HOUSTON—Baker Katz sold 30,000 square feet of land, including a 7,000-square-foot building home to Advance Auto Parts.
ROUND ROCK, TX—Leon Capital Group opened its first self-storage development project. The 77,855 rentable square foot development is located at 215 N. A.W. Grimes Blvd. Embree Construction Group was the general contractor on the project.
BY THE NUMBERS
AUSTIN, TX—CBRE has released the first quarter 2017 Office MarketView. Construction and deliveries set the market pace for 2017–developers delivered 1 million square feet in the first quarter and an additional 1.7 million square feet is underway. Despite positive demand, absorption fell from previous quarters–Austin absorbed 91,000 square feet in first quarter 2017, yet CBRE Research is tracking several deals in the pipeline that may offset the slow start.
NEWS AND NOTABLES
DENVER—The National Association of Real Estate Editors has opened registration for its 51st Annual Real Estate Journalism Conference June 14-17, 2017. NAREE's conference, which begins the morning of June 14 at the Brown Palace Hotel, will attract scores of journalists from major newspapers and prestigious publications from around the nation and Europe. The conference features speakers covering commercial and residential real estate topics, green building, architecture, hotels, mortgage lending, mixed-use development, single-family investing and vacation properties. Speakers will include chief executive officer Douglas Yearley of Toll Brothers, Marilyn Wilson of the WAV Group, Rohit Anand of KTGY Architecture and chair Scott Muldavin of the Counselors of Real Estate. NAREE's conference programming will feature several chief economists including Kevin Thorpe, Cushman & Wakefield; Lawrence Yun, National Association of Realtors; Nela Richardson, Redfin; Brad Hunter, HomeAdvisor, and Ralph McLaughlin, Trulia.
HOUSTON—Lee & Associates-Houston announced the expansion of its industrial brokerage team as Tim Thomas joins the firm as a director. Thomas specializes in the acquisition and disposition of industrial and land assets.
DEAL TRACKER
AUSTIN, TX—Applied Systems has renewed its lease for 1,641 square feet at Hartland Plaza. AQUILA Commercial represented the landlord and Cushman & Wakefield represented the tenant in the transaction.
AUSTIN, TX—Legacy Education Inc. leased 13,684 rentable square feet of office space at 1044 Liberty Park Dr., located in central Austin west of downtown. The landlord was represented by Matt Levin and Matt Fain with ECR and tenant represented by Tim Mooney with Lead Commercial.
AUSTIN, TX— Quality Innovation leased 2,415 rentable square feet at Summit Point, located at 2512 South IH-35. The landlord was represented by Jason Steinberg with ECR and the tenant was represented by Reid Gilbreath and Lucian Morehead with Asterra Properties.
AUSTIN, TX—Interstruct leased 771 rentable square feet of office space at the
AUSTIN, TX—On behalf of an affiliate of Toronto-based Eastbourne Investments, JLL's Capital Markets experts has completed the sale of Oak Creek Plaza. Austin-based TMF Health Quality Institute purchased the property. JLL senior vice presidents Jeff Coddington (capital markets) and Kevin Kimbrough (agency leasing) led the sales team.
COLORADO SPRINGS, CO—Holliday Fenoglio Fowler LP secured a $41.9 million refinancing for Advenir at Spring Canyon, a 292-unit, garden-style apartment community. HFF worked exclusively on behalf of Advenir Inc. and Dome Equities to place the seven-year, floating-rate loan with
GEORGETOWN, TX—Marcus Hiles of Western Rim Investment Advisors Inc. purchased agricultural land in Williamson County located at 0 Westinghouse Rd. The financing institution on this $42.33 million deal was BBVA Compass, according to Enriched Data.
HOUSTON—Baker Katz sold 30,000 square feet of land, including a 7,000-square-foot building home to
ROUND ROCK, TX—Leon Capital Group opened its first self-storage development project. The 77,855 rentable square foot development is located at 215 N. A.W. Grimes Blvd. Embree Construction Group was the general contractor on the project.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.