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| Austin Commercial Real Estate Recap |
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Building Relationships, |
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| wsletter Subtitle | Month Yar |
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Austin No. 4 Best Place to Visit in U.S., Lonely Planet says
Austin Business Journal
12/20/2010
Austin has been named one of the "Top 10 Places to Go in the U.S. for 2011" by travel-guide publisher Lonely Planet.
The 10 destinations were chosen via a staff survey. In a press release, Lonely Planet praises Texas as the most overrated and underrated state in the U.S.-overrated by Texans and underrated by everyone else- and Austin as its weird state capital. Read more: http://www.bizjournals.com/austin/news/2010/12/20/lonely-planet-rates-denver-a-top-10.html |
Austin 3rd Highest Home Values in Texas, report says
Austin Business Journal
Travis County has the third-highest median home price in Texas, according to figures released Tuesday from the U.S. Census Bureau. The statistics were part of the bureau's five-year "American Community Survey," which updates social, economic, housing and demographic statistics from 2000. The report includes 11.1 billion individual estimates in more than 670,000 distinct locations. Read more: http://www.bizjournals.com/austin/news/2010/12/14/austin-3rd-highest-home-values-in.html |
Austin Job Growth Rate at 2.2 Percent in November
Austin Statesman
12/17/2010
Austin area employers have added 17,000 jobs in the past year, a 2.2 percent annual growth rate, the Texas Workforce Commission reported today. But the area's unemployment rate in November ticked up to 7.1 percent, from 6.9 percent in October. The area had a total of 778,500 jobs in November. On an annual basis, the biggest gains have come from hotels, restaurants, government, and the professional/business services sector. Statewide, employers added 192,100 jobs from November 2009 to last month, the commission reported. The unemployment rate was 8.2 percent. |
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America's Best Cities for Young Adults
By: Morgan Brennan, Forbes
12/15/2010
With the sluggish economy slowing many a budding career, 30 has for many become the new 20. But regardless of their age when they strike out on their own, young adults continue their endless quest for the most vibrant cities to call home.
The criteria for a great city geared toward young adults include a young, trendy social scene, decent entry-level career opportunities and a quality of life that consists of more than store-bought ramen noodles. The cult classic Reality Bites may have made thrift-store clothing and gas-station food appealing to Generation Xers, but these days a peer-oriented, tech-savvy, counterculture-rejecting vibe tends to predominate.
Read more: http://www.forbes.com/2010/12/15/best-cities-young-personal-finance-unemployment-nightlife.html?boxes=Homepagetoprated |
CoStar Top Stories for 2010
Costar
Hill Country Galleria Sold at Bankruptcy Auction for $75M
By: Sasha M Pardy | February 5
Chicago-based REIT Management & Research is the new owner of Hill Country Galleria, a 1.28 million-square-foot mixed-use lifestyle center located in Bee Cave, TX (a suburb of Austin) that filed bankruptcy in May of last year. The investment company won the center at a bankruptcy auction with a $75 million bid. This price is well below the $161 million outstanding on the $192 million construction loan Opus obtained to develop the project.
By: Randyl Drummer | May 12
Two developers are planning a 271-acre mixed-use project on State Highway 130 between Austin and San Antonio in Lockhart, TX. Entitlements are in place for about 1.75 million square feet of space at all four corners of the intersection of SH 130 and SH 142, known locally as West Main Street. Developers John Trube and J.P. Newman purchased the land for the project, called Centerpoint at Lockhart, which is expected to unfold over multiple phases starting next year with the opening of SH 130.
Data Foundry to Build Green Data Center in Austin By: Randyl Drummer | June 2
Data Foundry, a provider of wholesale and retail data center outsourcing, collocation and disaster recovery services, plans to build a new 250,000-square-foot, master-planned greenfield data center on 12 acres in Austin.
By: Mark Heschmeyer | January 6
More individuals and families chose to settle deep in the heart of Texas than anywhere in the United States in 2009, according to Allied Van Lines' 42nd Annual Magnet States Report. For the fifth year in a row, Texas outshined every other state and took the lead as the No. 1 destination state in 2009 based on Allied's report, which tracks U.S. migration patterns.
By: Samantha Mrozinski | June 9
Safeway Inc.'s subsidiary, Property Development Centers, plans to purchase 61 acres in Austin, TX, from Taylor Woodrow Communities to build a new 163,027-square-foot mixed use shopping center. The development will be in the Lake Travis area at the entrance to Steiner Ranch. PDC will start construction in the fall with a delivery slated for next year.
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