Office broker: This submarket is the best Class A value in Houston

Greenspoint is down, but it’s not out.

The embattled submarket, which has technically been known as the North Houston District since late 2016, is no doubt facing an uphill battle. In 2015, it lost its largest Class A office tenant, Exxon Mobil Corp. (NYSE: XOM), which dumped 2.2 million square feet of Class A office space onto the market when it consolidated employees in Springwoods Village.

Click to read more at Houston Business Journal.


Two Austin-area real estate projects rank among best in U.S., according to engineering publication

Two Austin-area developments have won the highest honors from Engineering News Record, or ENR. The 2016 Best of the Best projects are selected from regional winners and then chosen as the “top example of innovation and service to the community,” according to the trade publication’s website.

Both projects will be familiar to Austin Business Journal readers, as I’ve written about them extensively.

Click to read more at Austin Business Journal.


Hundreds of apartments, office tower cleared to rise just east of I-35

Plaza Saltillo, an East Austin mixed-use development that has been years in the making, won a critical final zoning approval March 2 from Austin City Council, clearing the way for construction to start within a couple of months on 800 apartments plus office and retail space just east of I-35 between Fourth and Fifth Streets.

Click to read more at Austin Business Journal.


Austin home to one of the nation’s ‘most important’ construction projects

Curbed, the real estate blog, recently featured “The 13 most important construction and development projects in the United States,” and Austin made the cut.

The list is based on subjective criteria of projects that “will fundamentally change their cities, whether by redeveloping a long-neglected area or debuting one of the tallest observation decks in the county.”

Click to read more at Austin Business Journal.


Downtown Austin office rents climb sharply as additional operating cost pile up

Tenants in downtown Austin office buildings have been loudly complaining about rising rents — not because of the original terms of a lease but because of increased property taxes and other operating costs passed on by landlords.

Cushman & Wakefield’s local office research team crunched the numbers and the outcome is startling.

Click to read more at Austin Business Journal.

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Need new office space? Check out these 18 projects underway around Austin

Austin brokerage Aquila Commercial recently released its comprehensive office market report for fourth quarter, including a list of nearly 3.5 million square feet of office projects under construction.

Several are close to delivering, including The Diamond Building at Mueller, 500 West 2nd and Domain 8. Most are right in the middle of the construction process with others recently breaking ground.

Click to view more at Austin Business Journal.