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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

​​​​​CONROE – Haltom City-based​ Falcon Steel America has acquired a 226,000-sf facility that will increase its production capacity​ by 60 percent.

The project at 3575 Pollok Dr. will start producing in the first half of December. It will take between 18 and 24 months to reach the full 40,000-ton capacity. 

Falcon Steel bought the facility for between $11 million and $12 million and has invested around $3.5 million for improvements. It will hire 150 workers to run the facility.​​​​

​TEXAS – Whether you’re looking to buy a new home or rent an apartment, there are many things to consider when relocating, beyond the number of bedrooms or bathrooms. 

Make a map of the locations you visit frequently, such as 

  • your places of work and worship, and 
  • where you work out or shop for groceries. 

Their distance away from your home is also part of your personal eco-sphere, and a long daily commute can add up, both in your environmental impact and your wallet.

See more "Do Just One Thing."

ANDREWS MCMEEL SYNDICATION​

​​image of FedEx HQPLANO – A joint venture of PRP LLC and AXA Investment Managers has purchased a four-story, 264,000-sf Class A office building, fully leased to FedEx Corp. for $79.65 million.

Completed in 2015 as a build-to-suit for FedEx Office and Print Services, the building is located at 7900 Legacy Dr. in Legacy West, a 250-acre mixed-use development.

The building’s amenities include a fitness center and sports court, conference center, upscale kitchen and dining facilities, and a mock store on the ground floor.

The seller was KDC Real Estate Developments & Investments.​

​​​Renderings of the City Place Memorial ParkHOUSTON – City Place Memorial Park, a 264-unit luxury apartment complex, is underway at 160 Birdsall St. and 180 Malone St.

The apartment complex will have a combined total of 235,007 sf of net rentable space across two separate buildings. 

Eight construction permits for the project totaling $26 million were filed with the City of Houston. 

The work is for the construction of apartments, podium parking garages and the office amenity area, according to city records.

Site work has also begun after the demolition of the former 57 Off Memorial apartments wrapped up.

​​​​​​​AUSTIN – NAI has released their industrial monthly Market Snapshot for ​November 2017.

Below are the market highlights and activity.

Market Highlights

Net absorption rebounding back to black quarter-to-date
  • New supply completed during 2017 stands close to 2.6 million sf, with year-to-date net absorption at -35,203 sf. 
  • The current space under construction is 1.1 million sf, with 80 percent of that space available for lease.
Innovation Business Park breaking ground 
  • The City of Hutto is ready to break ground on Titan Development’s Innovation Business Park. 
  • Initial construction on the project will include a 100,000-sf spec building to be delivered in nine to 12 months, and will be made available for occupancy s​​pring 2019. 
  • The complete plan for phase one of the $100 million speculative development calls for the construction of 800,000 sf of total of building space.
Economy grows at a strong pace in September
  • Austin jobs grew at a 3.0 percent annualized rate over the third quarter. 
  • The local unemployment rate fell to 2.7 percent, well below the 4.0 percent Texas and 4.2 percent U.S. averages.
    NAI market activity for Austin industrial market