Commercial Texas

CTX Sells 24 Acres in Northwest

Commercial Texas represented HCP Ventures II Member, LLC and MetroNational in the sale of 24 acres at Highway 183 and Pecan Parkway.

Trammel Crow purchased the property and will construct four-story office buildings on the 24-acre site to be completed in late 2008. An investment of $40 million is expected with the project.

Mike Kennedy, Lee Ellison and Earle Britton of Commercial Texas represented the seller and Lance Sallis with Trammell Crow Company represented the buyer.

CTX Represents Altiris

Commercial Texas represented Altiris, a provider of IT service-oriented management software, in the lease of 5,000 square feet of office space. The company is moving to The Summit at La Frontera in Round Rock, Texas.

Russell Young, Dan Meyer and Burke Kennedy with Commercial Texas represented the tenant and David Putman with Moore & Associates represented the landlord.

June 2007

Sound Off
With continued growth in the office market in Austin, experts predict demand will outpace supply. As a result, several new projects are on tap for the Austin office market, many centered around Central Austin as well as Northwest Austin.
Austin Business Journal - May 4, 2007

QUESTION: Do you think there will be enough demand among expanding and relocating businesses to justify the amount of new office construction occurring in the Austin market?

Russell Young Vice president Commercial Texas LLC
A: Long-term -- yes. Short-term is the question. Austin typically absorbs 1 million - 1.5 million square feet of office space per year. Today, we have approximately 2 million square feet of office space under construction. White-collar job growth drives the demand for office space. Economists forecast 50,000 - 60,000 new jobs across all sectors in 2007/2008 in Austin. At an average of 200 square feet per person, 10,000 white-collar jobs would absorb the office space under construction. While it appears there is a lull in leasing activity this first quarter, we anticipate a strong leasing market in 2008 and 2009.

CTX Represents Planning Work$ in Expansion

Commercial Texas represented Austin-based Planning Work$ Inc. in the lease of 2,600 square feet of office space at Greystone Plaza, 7200 N. MoPac Expressway.

Planning Work$, a financial services firm offering an extensive array of wealth management strategies for individuals, business owners, corporations and trusts, is increasing its space to accommodate recent growth.

“We’ve expanded and sought new space to meet the needs of our growing team. We expect to add additional professionals to our team in the next 12 months,” said Lisa Allen, Partner, Planning Work$. “Commercial Texas worked with us to secure a space that aligned with our growth strategy and image as a firm.”

Planning Work$ develops financial strategies through a process of discovery designed to achieve clients’ goals based on a holistic review of objectives, timetables and resources.

Carl Condon and Burke Kennedy with Commercial Texas represented the tenant and Steve McMillon with The Kucera Company represented the landlord.

Alie Lindemann Named CTX Top Broker Assistant for 2006

Alie Lindemann has been named as Commercial Texas' Top Broker’s Assistant for 2006. She is being recognized for her expansion into new areas and versatile skill-sets. This year Lindemann worked with Commercial Texas on numerous marketing and graphic design projects; helping the firm maintain its professional image and streamline key systems.

Lindemann has been a team member on several large scale projects for the Investment Sales and Agency Leasing Groups, including the sale of 300 W. Sixth Street and 800 N. Capital of Texas Highway. With the firm since 2005, she is known for her positive attitude and responsiveness to her colleagues.

“Alie is a professional, diligent member of our team. She plays an important role in our success. Her charitable activities, skills and consistency position her as a strong asset to the firm,” said Michael Kennedy, President, Commercial Texas.

Lindemann is committed to volunteering. She supports Meals-on-Wheels; delivering meals and spending time with the elderly in need. She is also active in St. Austin's Catholic Church and a member of Austin Young Women's Alliance.

Lindemann earned a Bachelor of Arts Degree in English from The University of Texas at Austin.