Austin
Phase III of The Preserve at Mayfield Ranch Completed
The gated garden home community which only two months ago was entering Phase III of development – The Preserve at Mayfield Ranch – has completed construction and announced the Grand Opening event for the weekend of May 24th and 25th. David Blackburn, President of award-winning developer Blackburn Communities, announced special incentives for the final phase of the project.
UT Approves Construction of $172 Million Robert B. Rowling Hall
The construction of Robert B. Rowling Hall has been approved by The University of Texas Board of Regents. The development will house the McCombs School of Business Texas MBA and Texas MSTC programs. It will add to the available space for Texas Executive Education Programs doubling it and increase the university’s convention and conference activities.
Riverside Resources Started Construction on Capital Ridge Office Development
The 38 acre office/hotel campus site located at the intersection of Loop 360 and Bee Cave Road has turned into a construction site that will give Capital Ridge, a 215,000 square feet 7-story Class A office building. The developer is Riverside Resources, specialized in investment, development, and management of commercial real estate in Central Texas.
Taylor Morrison Announces Start of Construction at Travisso Master-Planned Community
For Leander’s newest master-planned community Travisso, Arizona-based builder and developer Taylor Morrison Home Corporation, announced the start of its models for four home collections. These are schedule to be completed in May.
Avison Young Buys Commercial Texas, Opens Office in Austin
Avison Young offices continue to pop up across the country like flowers in springtime. The Toronto-based commercial real estate services firm just set up shop in Austin, with the acquisition of Commercial Texas and the opening of a new office.
Embrey Partners Opens Escape at Four Points in West Austin
Founded in 1974, San Antonio-based Embrey Partners has developed more than 31,000 apartments and six million square feet of commercial space. Recently they’ve announced the grand opening of their latest residential project, Escape at Four Points, in west Austin, Texas.
Sheraton Hotels & Resorts to Open New-Build Hotel, Conference Center in Austin Suburb
A joint venture between Hines and The Novak Bros. will develop a 224-key Sheraton hotel and conference center in Georgetown, Texas, an upscale suburb of Austin.
Hyatt Place Austin Downtown Purchased by Carey Watermark Investors for $87 Million
Hyatt Place Austin Downtown, the 296-room upscale select-service hotel located at 211 East 3rd Street was recently acquired by non-traded REIT Carey Watermark Investors. The hotel was ranked best in its category for the second year in a row by Business Travel News 2013 Hotel Chain Survey, and received the “Highest in Guest Satisfaction Among Upscale Hotel Chains” recognition by J.D. Power in 2013.
HFF Closes Sale of Las Cimas IV in Austin
Las Cimas IV, the newest of the Las Cimas Buildings, has changed owners. Holliday Fenoglio Fowler, L.P. (HFF) marketed the property on behalf of the seller, KBS Capital Advisors, and procured the buyer, Clarion Partners.
DivcoWest Buys 318 KSF Class A Office Campus in Austin
DivcoWest has acquired the Avallon, a 318,000-square-foot Class A office campus in Austin from Highbrook Investment Management.