The Austin Deal Sheet
Austin Proper Hotel & Residences kicked off construction with developer The Kor Group, members of the City of Austin EDC, Trammell Crow and others from the project team.
The 33-story, 500k SF project (above) in Downtown Austin will be managed by Proper Hospitality. The tower will have 244 hotel rooms, multiple dining options by McGuire Moorman Hospitality, and more than 12k SF of indoor and outdoor meeting and event space. 99 for-sale condominiums and penthouses, which are quickly pre-selling, are being sold starting at $600k.
EXECS
JLL expanded its retail platform in Austin with the addition of Barry Haydon, who joins as SVP and will focus on agency leasing.
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David Thibodeaux joined CBRE Capital Markets as first VP, focused on investment property acquisitions and dispositions on behalf of private investors.
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LEVY Architects launched an interior design practice, which will complement the firm’s existing architectural practice. Industry veterans Lania Fryou and Michelle Vandermeulen will lead the division.
SALES
CIM Group and Seaholm Power sold the Seaholm Power Plant in Downtown Austin. The centerpiece of the project is the repurposed, and formerly long-dormant, 126k SF historic Art Deco power plant constructed in the 1950s.
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PacVentures acquired the former Super Walmart at 8201 North FM 620 in Austin. The site totals approximately 39 acres, and the former Super Walmart building is approximately 220k SF. Aquila Commercial will market the property.
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The Austin Independent School District is putting 10 properties, including the district’s Downtown HQ (above), on the market for sale, lease or other alternative, civic-minded proposals. AISD hired Austin-based Southwest Strategies Group to handle the brokerage and marketing services.
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Brennan Investment Group acquired a three-building industrial campus at 3000 South Austin Ave in Georgetown. The 192k SF property is 100% leased to Manitex.
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Rollingwood Plaza, a 22k SF shopping center at 2712 Bee Caves Road in Rollingwood, sold. Retail Solutions’ Trevor Williams repped the buyer, and Aquila’s Chad Barrett repped the seller.
LEASES
Ferguson Showroom leased 13k SF of retail space in Arboretum Crossing, a regional-draw power center at 9333 Research Blvd. The Weitzman Group’s Brett Maze handled negotiations for the landlord, and CBRE repped the showroom.
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Party City leased 15k SF at Lakeline Plaza at 11066 Pecan Park Blvd in Cedar Park. Retail Solutions’ Dave Burggraaf and Drew Smith repped the landlord.
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Strayer University leased 13k SF at Reunion Park at 8501 North Mopac. The landlord was repped by ECR’s Matt Levin and Jason Steinberg, and the tenant was repped by CBRE’s Jerry Frey and Kelly Woodruff.
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Genesis ATS renewed two leases for 12k SF and 20k SF at Southpark Corporate Center 3, at 4209 South Industrial Drive in Austin. Aquila's Leigh Ellis and Jay Lamy repped Genesis ATS, and Scott Studzinski of Skyles Bayne repped the landlord.
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Aquila Commercial will be leasing Riata Crossing 6, a 50k SF building under development by Generational Commercial Properties at 12544 Riata Vista Circle in Austin. Adjacent to Apple’s Austin campus, this site is in the heart of the Northwest office submarket.
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vAuto renewed its 20k SF lease and expanded into 15k SF at The Campus at Arboretum in Austin. Aquila repped the landlord, and CBRE repped the tenant.
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Walter Moore renewed 10k SF at Chase Tower, 221 West 6th St. Cushman & Wakefield’s Rick Whiteley repped the tenant. Peloton’s Kevin Granger and Matt Frizzell repped the landlord.
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Manna Freight Systems leased 32k SF at 3815-A Jarrett Way in Austin from Icon LPC TX Property Owner Pool 6 Austin. CBRE’s Darryl Dadon repped the tenant. CBRE’s Mark Emerick, John Barksdale and Ace Schlameus repped the landlord.
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McKesson Medical-Surgical leased 12k SF at Interchange East, 845 Interchange Blvd in Austin, from Icon LPC TX Property Owner Pool 6 Austin. CBRE’s Darryl Dadon repped the tenant. CBRE’s Mark Emerick, John Barksdale and Ace Schlameus repped the landlord.
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Ruta Maya Importing leased 13k SF at Expo Business Park at 6231 East Stassney Lane in Austin. CBRE’s Mark Emerick, John Barksdale and Darryl Dadon repped the landlord, Real Estate Austin.
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Aspire Food Group USA leased 26k SF at Expo Business Park at 6231 East Stassney Lane in Austin. McCoy Centric Commercial’s Russell Todd and Kent McCoy repped the tenant. CBRE’s Mark Emerick, John Barksdale and Darryl Dadon repped the landlord, Cadence Real Estate Austin.
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T & L Distributing leased 14k SF at Longhorn Center, 9324 Neils Thompson Drive in Austin. Jackson Cooksey’s Chris Mathis repped the tenant. CBRE’s Mark Emerick, John Barksdale, Ace Schlameus and Darryl Dadon repped the landlord, Icon LPC TX Property Owner Pool 6 Austin.
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ECR was selected to lease or sell a new construction project at 2301 East Riverside Drive (above) which consists of a recently completed 17k SF office and retail building, a Capital One ground lease, and a site for a proposed 29k SF office building.
DEVELOPMENT
Data Foundry will build a new data center called Texas 2 in Austin. The firm applied for a $23M building permit for an interior build-out at 4100 Smith School Road. Permits indicate the shell was filed for in April and is expected to cost $16M.
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Maker Bros closed on the land to create Saint Elmo Market District, a $150k mixed-use project set to break ground in 2018. The project will include 400 multifamily units and a 40k SF renovated warehouse for an indoor-outdoor marketplace, which will feature Austin’s Saxon Pub. The project also includes 100k SF of creative office, a boutique hotel and a for-sale condo development.
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McCann Realty Partners started construction on the 303-unit Retreat at Wolf Ranch Apartments in Georgetown. The 19-acre property is in the Wolf Ranch master planned community adjacent to the 670k SF Wolf Ranch Town Center. The Class-A apartment project will include townhouses and walk-up buildings appointed with stone and stucco exteriors with views of the San Gabriel River.
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HFF will develop Gables Republic Square, a 24-story, Class-A mixed-use residential and hotel project in Downtown Austin. HFF arranged joint venture equity for Gables Residential's development of the property through The Carlyle Group. Gables Republic Square will be at 400 Lavaca St and will encompass 221 residential units along with a separately owned, 159-room Hotel ZaZa to deliver in early 2019.
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CBRE and the Travis County Purchasing Agent are soliciting development proposals for a prime Downtown infill site comprising a full city block at 308 Guadalupe St. The County seeks proposals that maximize value for the 77k SF site.
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Trammell Crow and Clarion Partners acquired a 95-acre land parcel in Southeast Austin for the development of Park 183, a master planned industrial business park that will deliver 964k SF of Class-A industrial space in multiple phases. Phase 1 will consist of the speculative development of two buildings totaling 247k SF, and significant road, drainage and utility infrastructure for the overall business park. Construction will commence in January 2017.
FINANCING
HFF arranged $45M in post-acquisition financing for Brodie Oaks Shopping Center, a 323k SF grocery-anchored shopping center and office building in Austin. HFF worked on behalf of the borrower, Lionstone Investments, to place the 10-year, floating-rate loan with JPMorgan Chase Bank.
THIS AND THAT
Sayers Real Estate Advisors is celebrating its 40thanniversary, having served clients throughout Texas since 1977.
