It’s Deja Vu All Over Again
By Michael Kennedy, SIOR, President

 

It looks like the second quarter of this year’s office market in Austin is going to turn out much like the first quarter with very low absorption and shockingly higher rental rates. The hidden increase is also on its way: the taxman is coming!

 

Link to full story

Industrial Lays Foundation for Eastern Expansion

By Dan Meyer, Associate, Industrial & Land Group

 

The industrial market is doing something unusual in Austin— taking a dominate role in several key trends in the region.

 

Austin has never been a major distribution market. Instead, users have had diverse needs for their industrial space. As a result, developers have found success in creating “flexible” projects that can accommodate a range of companies with different needs. Flex space provides everyone from high-tech suppliers to smaller distribution and manufacturing companies with office space that also includes a small warehouse component.

 

Link to full story

Austin named "Startup Hub" by Fast Company
Republished from Austin Business Journal

July 2, 2007

Austin has been named a "Startup Hub" by Fast Company magazine's annual 30 Fast Cities list.

The magazine judged cities in nine categories including "Creative-Class Meccas," "R&D Clusters," "Urban Innovators" and "Green Leaders."

Cities were selected based on three basic criteria: a culture that nurtures creative action and game-changing enterprise, innovation and energy. Indicators include the obscure, such as the number of ethnic restaurants or the ratio of live-music lovers to cable-TV subscribers, the magazine said.

Among the city's characteristics that landed Austin on the list are the high number of Wi-Fi hot spots per capita and its relatively young population, according to the magazine.

Other Startup Hubs on the magazine's list include Madison, Wis., Tuscon, Ariz. and London, England.

Commercial Texas Announces Promotion of Veteran Team Member

       
Commercial Texas announced the promotion of Lee Ellison. 

“Lee has demonstrated a consistent focus on reaching client objectives,” said Michael Kennedy, president, Commercial Texas. “Over the past year he has tackled numerous complex projects, while continuing strong client service. We’re excited to recognize his achievements.”

 

Lee Ellison has been promoted from associate vice president to vice president of the Industrial & Land Group. He joined the company in 2003 and has over twenty years of experience in brokerage and research in Austin.

 

Ellison is a member of Realtors Land Institute, National Association of Realtors and the Real Estate Council of Austin.

 

 

CTX Represents CIT Group

 

Commercial Texas represented CIT Group, a leading financial solution company, in the renewal of their 2,600-square-foot lease at The Terrace I, 2600 Via Fortuna Drive.

 

Carl Condon, Vice President, and Burke Kennedy, Associate, Tenant Representation Group at Commercial Texas represented the tenant. Mark Greiner, with Oxford Commercial, represented the landlord in the transaction.