$200M project with homes, shops, offices headed to Round Rock; Officials say it would ‘raise the bar’ for area

A California real estate firm wants to invest $200 million in a mixed-use development at the busy intersection of State Highway 45 and I-35 in Round Rock.

Round Rock is considering offering incentives for the master-planned project, which would include at least 1 million square feet of commercial and residential development. That’s roughly equivalent to what Barton Creek Square mall has to offer, in terms of square footage.

Click to read more at Austin Business Journal.

While Oracle puts finishing touches on new Austin office, tech giant buys more adjacent land

Oracle Corp. appears to planning for expansion of its Southeast Austin campus even before the $300 million-plus development is completed.

Public records show that Oracle America Inc. purchased around six acres at 2225 Elmont Drive, directly south of its 560,000-square-foot campus now under construction. The six-acre plot of land was purchased from an entity formed by Cypress Real Estate Advisors.

Click to read more at Austin Business Journal. 

Prime downtown Austin redevelopment properties for sale by Velocity Credit Union

A prime redevelopment opportunity near the Texas Capitol has hit the market with Austin-based Velocity Credit Union putting properties at 610 E. 11th St. and 705 E. 12th St. up for bids.

Aquila Commercial has the listing for the two parcels, which could be redeveloped as a mid-rise and high-rise mixed-use project.

Currently, Velocity occupies the buildings — named Sabine East and Sabine West — for operational headquarters, back-office staff and a customer branch. Collectively, the properties encompass about 93,000 square feet and include surface parking.

Click to read more at Austin Business Journal. 

Developer’s novel mixed-use concept ready for big debut in nascent East Austin

Capsa Ventures LLC will deliver its Fourth& mixed-use development at 1800 E. Fourth St. starting in December — likely record time compared to other developments despite more than three months of rain delays and the usual city permitting and inspection hurdles.

“It will be 18 months from start to finish,” said Rance Clouse, founder of Capsa Ventures.

So what’s the secret of turning around one of the largest projects in East Austin in record time?

Click to read more at Austin Business Journal.

Austin developer begins work on $54M shopping center at San Antonio military base

Leaders from the Army, Air Force and the Medical Command gathered Oct. 13 at Fort Sam Houston to break ground on a new $54 million Exchange shopping center on the base.

As part of the Department of Defense, exchange shopping centers are the oldest and largest military retailers, offering tax-free shopping to authorized personnel with locations in all 50 states and in 36 counties. Locally, there are exchange shopping centers currently operating at Joint Base San Antonio – Lackland, Randolph and Fort Sam Houston. This new shopping center will replace Fort Sam’s current facility, which was built in 1971 and remodeled in 2010.

Click to read more at Austin Business Journal. 

Two Logistics Company leases bring Merchant Industrial To 94 percent Occupancy In El Paso

EL PASO, Texas  – CBRE and ViaWest Group announce continued leasing activity at Merchant Industrial, a 245,745-sq.-ft., multi-tenant industrial park in El Paso, Texas.

Jichasa, a trade and door-to-door logistics services firm, leased 81,556 sq. ft., which included a 40,400-sq.-ft. expansion. This marks the second time the El Paso-based firm has doubled in size at the property in as many years. The firm has provided logistics operations and distribution of product across the sister cities of El Paso and Cd. Juárez for more than a decade. Jichasa’s El Paso operations support a powdered milk supplier in Chihuahua, Mexico. The company is also involved in facilitating the transfer and storage between multinational companies, which include companies dedicated to the manufacturing industry.

Tennessee-based Roane Transportation also leased 25,000-sq.-ft. The company provides warehousing and transportation services for the maquiladora industry, thus the property’s fenced and secure truck court, access to Interstate 10 and dock door ratio were all attractive characteristics.

”We are thrilled to have the capacity for both growth and expansion in the project between our new tenant, Roane, and our current tenant, Jichasa,” said Clare Lydon, real estate manager of the project with ViaWest Group. “We have worked diligently to create a product that would be well received in the market and we are happy to see those efforts pay off through our partnership with these tenants.”

Arturo De la Mora of CBRE’s Industrial & Logistics division in El Paso represented the landlord, ViaWest Group.

“Occupancy at Merchant Industrial is 94 percent, up from approximately 50 percent when ViaWest acquired the properties in 2015,” said Mr. De la Mora. “Repositioning efforts and healthy overall market activity are supporting the activity and continued interest from existing and new tenants.”