Austin
World Class Capital Plans to Reposition Crestview Crossing Post Acquisition
Once opportunity is identified, creating value comes next. Under this principle World Class Capital Group announced the acquisition of a retail center in North-Central Austin. The exact address is 8120 Research Blvd, at the corner of Highway 183 and Anderson Square.
Weingarten Acquires 350 KSF Shopping Center in Austin
Weingarten Realty Investors has acquired Mueller Regional Retail Center, a 350,000-square-foot power center adjacent to I-35 in Austin.
Huffines Communities Invests in Waterford at Lake Travis
Lago Vista, located northwest of Austin, offers many picturesque panoramic views of Lake Travis and the surrounding natural environment to its inhabitants and Huffines Communities knows it. For a second time, the Dallas-based real estate company stopped in the area to make investments; the first investment was the Waterford Marina, located on Lake Travis’ north shore at Mile Maker 21, an area popular for having the deepest water in the lake.
Luxury Whitley Apartments for Sale with CBRE
The Class A residential high-rise located in the heart of the Austin central business district, Whitley, is now listed for sale under the representation of CBRE Texas Multi-Housing Group. The building is located at 301 Brazos and was completed in 2013.
Brandywine RT and DRA Advisors LLC Form Joint Venture on $330 Million Office Properties
A new joint venture appears in Austin’s commercial sector. Brandywine Realty Trust, specialized in the ownership, management and development of urban, town center and office properties, has announced the newly created entity with DRA Advisors LLC. ‘The Venture’ will acquire Brandywine’s entire office portfolio from the Southwest submarket of Austin and each will own a 50 percent interest.
Simon Property Group’s Barton Creek Square to Undergo Food Court Renovations
Simon Property Management, the Indianapolis-based real estate company that owns a fairly large percentage of retail space in Austin, has started the remodeling works at the food court in Barton Creek Square shopping mall. Completion of the project is scheduled for November 2013.
ABoR Completes Plans for New Headquarters
The almost 9,000 members of the Austin Board of REALTORS® (ABoR) have a new headquarter to look at in the future. ABoR announced the plans to start the construction of a facility that will entail approximately 33,000 square feet displayed on 5.2 acres.
$30 Million Office Development Broke Ground at Fifth Street and Congress Avenue
At 501 Congress Avenue, where the former annex of the Bank of America used to be, recently broke ground a $30 million office development. Stream Realty Partners purchased the site back in April in a partnership with four other firms.
Van Zandt Hotel Breaks Ground in Austin
Austin’s Rainey District has a new construction site at Red River and Davis Streets. Previously expected to break ground in June, Hotel Van Zandt is being developed by JMI Realty and will be operated by San Francisco’s Kimpton Hotels, a company specialized in chic boutique hotels. Completion date is set for 2015.
W. P. Carey Closes $110M Sale-Leaseback of State Farm Operation Center in Austin
Two W.P. Carey REIT affiliates – CPA 17 – Global and CPA 18 – Global – have acquired the State Farm Operations Center in Austin, in a sale-leaseback for $110 million, the REIT’s first Class A office property in the city.