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News – Austin

* This news feed is generated through NewsTalk Texas, provided by the Real Estate Center at Texas A&M University

Austin Proper prepares for openingAUSTIN – Austin Proper Hotel & Residences, a 32-story, 244-room luxury hotel and condominium tower at 600 W. Second St., will open this winter.

The hotel is now accepting reservations for stays beginning on Jan. 15, 2020. Owners of the tower's condo units will move in this winter, as well.

Condo floor plans include one- to three-bedroom units and four- and five-bedroom penthouses. Amenities include a private rooftop pool, landscaped sundeck and outdoor kitchen, and parking garage.

Handel Architects LLP designed Austin Proper. Balfour Beatty Construction is the general contractor. ​

Texas logoThe Real Estate Center has more mixed-use news for Austin-Round Rock:

​​Self-storage market report for second half 2019AUSTIN – Local self-storage construction is expected to increase by over 1.58 million sf this year, bolstered by second half 2019's strong construction pipeline.

According to Marcus & Millichap's second half 2019 forecast, vacancy will tighten​ 100 basis points to 7.7 percent at the end of the year. In 2018, local self-storage vacancy compressed 140 basis points.

Despite the metro’s strong absorption totals this year, the average lease rate will decrease 3 percent to $0.96 per sf. The average rent has been decreasing on an annual basis for more than two years as the inventory grew 12 percent, influencing operators to lower rates to stay competitive.

​The ​report also forecasts 2.4 percent increases in both employment and population.​​

Texas logoGet more Austin-area news on the Real Estate Center's website:

​​Source: Marcus & M​illichap​​

GRAPEVINE – NewcrestImage is developing an 80,000-sf, four-story building for its new headquarters on SH 26 and Bass Pro Dr.

The company will take about 20,000 sf in the building, which is part of their 52-acre SilverLake Crossings development.

NewcrestImage will move from its current headquarters in Lewisville in 2020.

Cushman & Wakefield is handling leasing.

Texas logoThe Real Estate Center has more information like this online:

​Source: Dallas Morning News​

​​​​PLANO – Aligned Energy is working on an eight-megawatt expansion of DFW-01, its 19-acre data center campus at 2800 Summit Ave.

At full buildout, the project will support a 375,000-sf, 60 MW facility.

DFW-01 is a carrier-neutral, Tier III ​data center that accommodates variable standard and high-power densities, up to 50 kilowatts per rack. 

Texas logoThe Real Estate Center has more on the Dallas-area industrial market:

​Source: Connect ​Media

​​​​PLANO – Aligned Energy is working on an eight-megawatt expansion of DFW-01, its 19-acre data center campus at 2800 Summit Ave.

At full buildout, the project will support a 375,000-sf, 60 MW facility.

DFW-01 is a carrier-neutral, Tier III ​data center that accommodates variable standard and high-power densities, up to 50 kilowatts per rack. 

Texas logoThe Real Estate Center has more on the Dallas-area industrial market:

​Source: Connect ​Media