|
|
| Austin Commercial Real Estate Recap |
|
|
|
Building Relationships, One Space at a Time.
|
|
|
| wsletter Subtitle |
Month Yar | |
The Best Places For Business
By: Kurt Badenhausen, Forbes
6/29/2011
The recession spared few U.S. cities, wiping out 9.4 million jobs between November 2007 and August 2009. Many will never return, and those that do you probably won't find on the East or West Coast. For the most active areas of job creation (and lower costs of doing business) you have to go to the heartland, home to 80% of the top 25 regions on our list of Best Places for Business.
In most of these hot hubs you'll find a strong university or two, providing rich cultural life and the kind of technology transfer that sparks entrepreneurial activity-giving that educated population lots of reasons to stick around.
Read more: http://blogs.forbes.com/kurtbadenhausen/2011/06/29/the-best-places-for-business-and-careers/ |
Development, Job Growth Continues with Incentives
By: Bobby Longoria, Community Impact Newspaper
6/24/2011
AUSTIN - The city's Economic Growth and Redevelopment Services Office has entered into 11 economic incentive agreements since being established in 2003.
Samsung Austin Semiconductor, L.L.C., which has been in Austin since 1996, entered into one of the first agreements to create and expand its memory fabrication plant. The agreement rebated 100 percent of the taxes Samsung paid for its second fabrication plant, a predecessor to its third fabrication plant, under the condition that Samsung invest $2.5 billion in new real property improvements and equipment and create at least 500 full-time jobs and 200 contract jobs in connection with the project by Dec. 31, 2010.
To date this agreement has rebated Samsung about $7.2 million and Samsung has expanded its workforce from 994 on Oct. 1, 2005, to more than 2,000 employees currently employed.
Read more: http://impactnews.com/central-austin/news/13240-development-job-growth-continues-with-incentives |
Market Conditions Demand Exclusivity in Representation
By: Washington Realty Group, Inc.
June 2011
The last few years have been challenging for many of the country's largest commercial real estate companies. Mergers are common and brokers are changing teams like an NBA off-season.
Providing stability to the market, boutique tenant representation firms have been able to weather the lack of leasing activity because of their ability to provide clients with ongoing real estate strategy in reaction to the market, providing value beyond the lease transaction.
In contrast, large full-service companies are now looking inward to address the mounting challenges of their largest profit center: landlords. In fact, most full-service real estate companies realize 80 percent of their revenue from their landlord clients.
Unique market conditions often demand that companies re-examine their operations. Naturally, business real estate is essential to that process. Unfortunately, outside of direct transaction involvement, full-service firms rarely offer the type of pro-active and non-conflicted insight office tenants require when making real estate decisions. Thus, when seeking a new corporate real estate services provider, companies are better served by working shoulder-to-shoulder with a professional that exclusively represents tenants.
Look for real estate partners that:
> only offer tenant representation and its related services
> can prove they have no conflicts of interest with any area landlords
> make available their most qualified professionals
> have a history of success in your market, not those who defaulted there because of a merger
> is available in your market, belong to the Alliance of Tenant Representatives
The turmoil among the largest full-service brands, represented again recently with the news that Grubb & Ellis is open to a sale or merger to try to become profitable, has demonstrated that once again, bigger by no means equates to better.
A company's real estate is crucial to its success. Do not hand off its strategic planning to a full service firm saddled with having to help find a cure for the ills of today's office landlord. |
|
Formula One Coming to Austin - Better Book Now
By: Larry Olmsted, Forbes
6/7/2011
It's about to get a lot louder in the World's Live Music Capital. For years Austin has been growing its tourism business by leaps and bounds, fostered by a reputation for great music and plenty of it, one of the nation's best emerging food scenes, plenty of traditional Texas barbecue, and a hipster, Bohemian atmosphere that sets the State Capital distinctly apart from the rest of Texas, hence its unofficial but widely cited slogan, "Keep Austin Weird."
Read more: http://blogs.forbes.com/larryolmsted/2011/06/07/formula-one-coming-to-austin-better-book-now/ |
|
|
|
|
|
|
|
