CTX Helps Firm Double Office Space
Tindall & Foster, one of the region’s largest law firms, is doubling its space at 100 Congress in downtown Austin. Tindall & Foster has added 6,000 square feet of space to its existing 10,700 square feet in the Central Business District.
Russell Young, Commercial Texas, represented Tindall & Foster; Troy Holme, CB Richard Ellis, represented the landlord, MetLife.
CTX Represents Spinal Restoration
Spinal Restoration has leased 4,240 square feet at Arboretum Atrium.
Russell Young and Burke Kennedy of Commercial Texas represented Spinal Restoration. David Putman of Moore & Associates represented the landlord.
CTX Represented May C's Business Park in a lease to Hutto TaeKwonDo
Hutto TaeKwonDo leased 1,250 square feet at May C's Business Park in Hutto, Texas.
Lee Ellison and Dan Meyer of Commercial Texas represented the landlord.
CTX Leases on Mesa Drive
Marinex International leased 1,425 square feet of office space at 5806 Mesa Drive.
Carl Condon of Commercial Texas represented the tenant. Jeff Henley of The Kucera Companies represented the landlord.
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 Looking Forward to Spring
By Russell Young, Executive Vice President, Commercial Texas
Businesses in Austin seem generally optimistic about their future and Austin’s general health. One quote we’ve heard is while the east and west coasts have the flu, Austin may get a head cold.
While everyone waits to see if their favorite economic forecaster was right, we continue to experience a cautious outlook for ’08 and expect a slow spring for the market in general.
Austin has more good things going for it than not, and population in-migration continues unabated.
We’re keeping our fingers crossed for a solid spring leasing season!
Hope the sun is shining on you, too!
 Leading Austin Immigration Law Firm Expands
Commercial Texas Helps Firm Double Office Space
Tindall & Foster, the region’s largest law firm specializing in U.S. immigration law and worldwide immigration, is doubling its space at 100 Congress in downtown Austin. The firm has expanded to accommodate the addition of new attorneys and staff.
“With a wave of immigration enforcement announced by the Department of Homeland Security, we are one of the few law firms that can analyze and mitigate immigration exposure proactively and react to surprise raids,” said Robert Loughran, Managing Shareholder, Tindall & Foster. “We’ve added several attorneys and staff members to our team in recent months and anticipate solid growth in 2008.”
Tindall & Foster has added 6,000 square feet of space to its existing 10,700 square feet in the Central Business District. Additionally, the firm is subleasing approximately 3,000 square feet and has an option for another 7,000 square feet. In the past 12 months the firm has added six attorneys and 13 legal assistants, taking its total to 45 immigration professionals locally. Tindall & Foster expects to add an additional 20 attorneys and new staff members in 2008.
Russell Young of Commercial Texas, represented Tindall & Foster in the expansion; CB Richard Ellis represented the landlord, MetLife.
“Commercial Texas, and Russell Young, assisted us in creating an expansion strategy that fit our business needs,” continued Loughran. “He’s been a strong resource for many years and we appreciate his vision and analysis; he understands our goals and always finds the best real estate solution.”
 Myth #5: My new lease is only a 40 percent increase in monthly operating costs
In late 2007, Commercial Texas revealed and discounted the five myths of commercial real estate. Below is a sample of Myth #5:
A business that is more focused on its incremental monthly rent increase, than on the big picture of a lease, is making a dangerous move. The reality is a longer-term lease focused solely on a percentage increase per month is an expensive proposition. Landlords would prefer a company to think in those terms because it generates consistent income and value over the long-term.
In a lease, there’s a feeling of exuberance initially. Executives are typically excited about the transition because it represents the next stage in their growth. Landlords are excited to move the tenant in and are genuinely appreciative of the business.
The danger is getting too caught-up in the short-term and compromising the longer-term objectives.
To download the full white paper of the fifth myth of commercial real estate, visit the Commercial Texas web page at www.commercialtexas.com/fivemyths/
 New Year, New Texas Tax Impacts Everyone
By Dan Meyer, Associate, Industrial & Land Group
January 2008 – the start of many things new: a new year, new resolutions, a new presidential election and new tax laws. One law which greatly impacts the real estate community, and all businesses, is the revised Texas Franchise Tax, or more specifically, the Margins Tax, which took effect on January 1, 2008.
This new law was enacted as a result of a Texas Supreme Court ruling in November 2005— when it found the state’s current school finance system unconstitutional. Under the old law, the school finance system included the franchise tax charged to companies for their right to conduct business in Texas, whether they were organized in Texas or out-of-state and conducting business in-state. For the most part, the law applied to only corporations and limited liability companies, but excluded sole proprietorships, limited partnerships, real estate investment trusts (REITs) and non-profit organizations. The former franchise tax rate was 4.5% of a company’s modified net income. In mid-2006, the Texas legislature set out to reform the system and Governor Rick
Perry signed into law House Bills 1-5.
Read full article
Austin traded $5.8B in commercial R.E. in '07
Republished from Austin Business Journal - Thursday, February 14, 2008
 Roughly $5.8 billion in commercial real estate changed hands in Austin last year, according to a new report from Real Capital Analytics Inc.
The New York research group's Global Capital Trends report shows there were a total of 143 commercial deals valued at more than $10 million last year in Austin. This is the inaugural issue of the report, which breaks down figures on significant property sales in major markets worldwide.
Worldwide, acquisitions of commercial property surpassed the $1 trillion mark in 2007 and 114 cities recorded more than $1 billion in sales.
Austin sales that reached more than $10 million by sector were as follows:
- Apartments: 45 deals with a total value of $1.3 billion
- Office: 37 deals, total value $2.9 billion
- Industrial: 16 deals, total value $447.2 million
- Retail: 14 deals, total value $400.7 million
- Hotel: 31 deals, total value $684.5 million
Commercial Texas Names 2007 Awards’ Recipients
 Commercial Texas is recognizing two of its top employees for their outstanding work in 2007. Lee Ellison, Vice President, Industrial and Land Group, has been named Commercial Texas’ Top Producer for 2007. Angel Acosta, Broker Assistant, is being honored with Commercial Texas’ President’s Award.
“Lee and Angel have demonstrated an unwavering focus on reaching client objectives and company goals,” said Michael Kennedy, President, Commercial Texas. “Over the past year they have consistently increased productivity while continuing strong client service. We’re excited to recognize their achievements.”
Ellison is being recognized for completing transactions valued at over $62.6 million in 2007. This year he led efforts on key commercial real estate projects for Metro National, Aldi Development, Lionstone Group and the Manor Independent School District.
Ellison joined Commercial Texas in August 2003 and has over 20 years of experience in brokerage and research in Austin. To date, he has leased over 300,000 square feet of industrial space combined with a disposition of over 1,100 acres of land and 372,000 square feet of improved properties. Notable clients include GE, Citigroup, Ferguson Enterprises and Trane.
Acosta is being recognized for her dedication and focus on excellence in supporting the firm’s brokers. Her role at Commercial Texas includes working on behalf of the Industrial and Land, Agency Leasing, Tenant Representation and Financial Services Groups with client-related and day-to-day activities.
Acosta joined Commercial Texas in August 2005 as a Broker Assistant and has over 10 years of experience in the commercial real estate industry.
“A company is only as good as its team members that represent it everyday,” said Russell Young, Executive Vice President, Commercial Texas. “Both Angel and Lee exemplify our standards at Commercial Texas and keep raising the bar.”
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