With the advancements of public transportation, automobiles, and the rapidly developing highway infrastructure of the 19th and 20thcenturies, suburban sprawl was ignited as city dwellers escaped the bustle of city life and spread out with abundant stores and activities to enjoy just a short ride away.
However, human nature is to cluster vs. disperse and as such, people naturally gravitate to coming back together to live, work, play, eat, and shop all in the same district, with as little traveling required as possible.
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Amazon enters grocery business with $13.7 billion purchase of Whole Foods. After testing a variety of concepts to enter the grocery store segment, Amazon recently announced an agreement to acquire Whole Foods Market for $13.7 billion. The purchase gives the e-commerce giant instant access to the grocery store business, which accounts for consumer spending of more than $636 billion per annum. More importantly the purchase highlights the importance of omnichannel platforms, which incorporate a blend of brick-and-mortor establishments with an online footprint to drive traffice and sales.
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Marcus & Millichap
A number of bills passed creating and/or empowering MUDs and giving them road district powers.
- HB 777: Effective immediately. Prevents the loss of open space ag appraisal while owner is on military deployment or stationed outside the state.
- HB 1288: Effective immediately. County commissioner’s courts may contract with a broker to lease property owned by the county.
- SB 345: Effective immediately. Certain municipalities may use certain tax revenue from hotel projects to pay certain hotel-related bonds or other obligations.
- SB 550: Effective immediately. Deals with sale or assignment of tax credits for certified rehabilitation of certified historic structures.
- SB 1086: Effective immediately. Prohibits a state agency from public internet posting of information that identifies taxable receipts of an individual business if they are contained in or derived from information required to be provided in a HOT tax report.
- SB 1229: Effective immediately. County commissioner’s courts may contract for solid waste services in certain municipal ETJs.
- SB 1365: Effective immediately. Use of HOT taxes for sporting event tourism expanded.
- HB 807: Effective 9/1/17. Clarifies provisions relating to choice of law and venue for construction contracts.
- HB 1774: Effective 9/1/17. Clarifies procedures and damages in deceptive, unfair, and prohibited insurance practices. Provides for an increase in damages.
- SB 347: Effective 9/1/17. Regional water planning groups and their committees are subject to the Open Meetings Act.
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Retail real estate in Austin is in short supply with a metro-wide vacancy of just under 4 percent, but another new development will be underway shortly near Southpark Meadows in far South Austin. Encore Enterprises, a Dallas-based real estate investment firm, has signed several tenants for its South Congress Station planned for 8900 S. Congress Ave. The move comes as retail product demand among Austin consumers remains strong — and rental rates for retail space soar amid a tight supply market, according to recently released data in Marcus & Millichap’s Retail Research Market Report.
Click to read more at Austin Business Journal.
It isn’t easy for growth to find a balance across multiple sectors of a city’s real estate market. But in San Antonio, continued increases in its retail, office and industrial markets prove not only that it can be done, but that steady growth can be maintained.
Click to view more at San Antonio Business Journal.