Austin construction activity strong, but not as robust as other U.S. cities

Views in every direction across the Austin metro area seem to tell a story of unprecedented construction activity — and there are hundreds of projects underway.

In the Aug. 11 weekly edition, I survey some new developments that may have escaped detection because of their location or modest stories.

Click to read more at Austin Business Journal.

Small tenants ‘are getting squeezed’ even as Austin adds massive swaths of industrial space

Several huge industrial projects are under construction in Austin, but the type of buildings being delivered likely won’t help users with smaller needs.

That’s the conclusion of Troy Martin, an associate with NAI Partners in Austin.

Click to read more at Austin Business Journal.

Amy Wanamaker wants to make UT Austin real estate the ‘best for the brightest’

Amy Wanamaker is a Texas native but New Orleans runs deep in her soul. Her father’s career in the oil and gas industry took the family from West Texas to New Orleans when she was 9 years old.

“We lived on the West Bank. It’s the highest point in town and it was a fascinating time in a place with a very European culture,” Wanamaker recalled. “There was a genteelism that was very prevalent. We were taught to show great respect to everyone.”

The racial diversity was deeply embraced, she said. Acting mature also was required.

“We grew up around adults,” she said.

Click to read more at Austin Business Journal.

WeWork’s new funding round puts valuation at $20 billion

WeWork has raised $760 million in a new series G funding round.

According to documents filed publicly with the Delaware Secretary of State, the New York-based co-working space provider issued 13.2 million new shares of preferred stock at a price of $57.90 apiece.

Click to read more at Austin Business Journal.

CBRE Forecasts Continued Growth In Revpar For San Antonio Hotels

Trio of sales indicative of investor demand

SAN ANTONIO – July 13, 2017 By year-end 2017, San Antonio hotels are forecast to see a revenue per available room (RevPAR) increase of 3.9 percent, more than the national projection of 3.0 percent, according to data from CBRE Hotels’ Americas Research.

The RevPAR increase is the result of an estimated 1.3 percent occupancy increase and a 2.6 percent gain in average daily room rates (ADR), according to CBRE Hotels’ Americas Research. San Antonio market occupancy rate levels are forecast to range from 62.4 percent for lower-priced hotels to 70.2 percent for upper-priced hotels in 2017.

“With Houston’s market still in decline, and the Austin and Dallas-Fort Worth markets flattening out due to large hotel room supply increase, San Antonio is becoming a more attractive destination in Texas for hotel investors. A very small new hotel room supply pipeline and increasing hotel demand will help drive hotel RevPAR growth for the next few years,” said Michael Yu, senior vice president, CBRE Hotels.

Click to read the rest of this Press Release.