News Detail

Austin News Update May 15th, 2022


May 15, 2022

The 7 on 7th project is set to have seven condo units offered for vacation rentals. (Rendering Courtesy Rudick Construction Group)


NXP Considers Austin For More Semiconductor Manufacturing, Up To 800 New Jobs

ABJ – 5/11/2022

NXP Semiconductors NV may significantly expand its manufacturing operations in Austin as companies rush to boost chipmaking capacity in the U.S. The Netherlands-based semiconductor producer is considering adding to either of the two large campuses it already has in the Texas capital. The company could invest $2.6 billion and create 750 to 800 jobs.


Shipping Container Retrofitter Falcon Structures Expanding In Manor

ABJ  – 5/9/2022

A high level of demand has convinced Stephen Shang, CEO of Falcon Structures, to expand the company’s 250,000-sq. ft. facility at 7717 Gilbert Road to roughly 400,000 sq. ft. When work is completed this summer, Falcon should be able to triple its current output of five to 10 containers a week, and at least double its workforce of 90.


Developer To Start Construction On New Airbnb Concept In East Austin

CoStar – 5/12/2022

Construction is about to start on a new vacation rental project and concept in East Austin, Texas. The project would start on May 23 and take 12 months to complete.

The concept — a single investment group offering condo-style units for vacation rental via Airbnb or VRBO — is the first of its kind in Austin and differs from similar concepts like Natiivo, where an individual purchases a unit and is required by deed to offer it as a short-term rental. The 7 on 7th project will offer seven condo units for short-term rental on a year-round basis. The five-story building will take up more than 17,000 square feet on Seventh Street in East Austin. A restaurant will occupy the first level, with a parking garage on the second level.


Westview In Downtown Austin Sells To LA Firm

ABJ  – 5/12/2022

Westview, a downtown office building near the Texas Capitol totaling 100,166 square feet, has changed hands.

Westview is at 316 W. 12th St. at the intersection of Guadalupe and 12th streets. Coworking giant WeWork has a large location there. Prescott Group bought Westview in 2016 and quickly renovated it into LEED Gold creative office space.  JLL Capital Markets announced it procured the buyer, Arc Capital Partners of Los Angeles LLC, and represented the seller, Dallas-based Prescott Group Inc. Westview is 93% leased, JLL reports.



Co-developed by AQUILA Commercial, Alto has an expected 2023 delivery. 
 Courtesy AQUILA Commercial

2 Hot Austin Suburbs Rank Among America’s Most Livable Small Cities

Austin Culture Map – 5/9/2022

Two booming Austin suburbs are among the most livable small cities in America in 2022, according to personal finance website SmartAsset. This year’s SmartAsset study lists both Cedar Park (No. 44) and Georgetown (No. 63) among the best small cities (those with populations between 65,000 and 100,000) to live.


Mothership Rising: Austin Shipping Startup Poised For Swift Growth

Austin American Statesman – 5/12/2022

Mothership, a software company that makes a platform for short-haul freight shipping operations, is looking to grow its team and expand its global reach after moving to Austin last year.  The company recently raised $76 million, and plans to use the funding to expand its platform and add to its employee team.


Austin Pulls In Ranking As No. 16 U.S. Magnet For New Residents, Says Report

Austin Culture Map – 5/12/2022

A new ranking from PODS, a provider of moving containers, shows Austin was the No. 16 destination for its customers from January 2021 through March 2022. Sarasota, Florida, topped the list. The Dallas-Forth Worth area came in at No. 2, with Texas’ other major metro areas, Houston and San Antonio, at No. 12 and No. 13, respectively.


Austin’s Historic Driskill Hotel Rolls Out Welcome Mat For New Owner

Austin Culture Map – 5/11/2022

The Driskill, Austin’s oldest and perhaps grandest hotel, has a new owner.  Chicago-based Hyatt Hotels Corp. confirmed it recently sold the downtown property to Dallas-based Woodbine Development Corp.  The Driskill, at 604 Brazos St., will remain part of The Unbound Collection by Hyatt luxury brand.


Smokey Mo’s BBQ Turns Up The Heat On Expansion

ABJ – 5/11/2022

A few months after being bought by a private equity firm, Switchback Capital LLC, Smokey Mo’s BBQ is rolling out plans to open 32 additional locations by 2025. It currently has 16 existing restaurants, five of which are franchises. Eight of the 16 locations are in the Austin metro.  The company will also add corporate-owned stores in the Austin metro, with two slated to open later this year.


M&A Wrap: Clearesult Grows EV Business; General Contractor DCA Acquired

ABJ – 5/12/2022

♦ CLEAResult Consulting Inc. — an Austin-based company that helps businesses, power providers and individuals go green — has purchased ChooseEV, which compiles data on the electric vehicle market.
♦ Austin-based DCA Construction LP has been purchased by W.E. O’Neil Construction Co., a general contractor with operations around the country that is 100% employee owned.
♦ Austin Perinatal Associates, a private maternal-fetal medicine practice based in Austin, has been acquired by Texas Children’s Physician Group, the practice of doctors who work at Texas Children’s Hospital.


H-E-B Opens Pair Of Health Clinics In Austin Area, Plans More

ABJ – 5/12/2022

Grocery giant H-E-B LP, already the largest private-sector employer in the Austin area, is expanding into health services in the Texas capital by debuting Wellness Primary Care facilities.

The San Antonio-based retailer recently opened two medical clinics in Austin this month: in Leander on May 4 and on South Congress Avenue on May 12. H-E-B already has four clinics in San Antonio and one in Houston, and more clinics are expected to come online throughout the Austin area next year.


Funding Wrap: Measured, Concerto Each Snag $21M For Marketing Analytics, Baseball-Branded Credit Cards

ABJ – 5/9/2022

• Measured Inc., which makes a software platform to measure the impact of marketing campaigns, has raised $21 million from Telescope Partners.
• Shortly after announcing it has moved its headquarters to Austin from California, property tax fighting startup Ownwell Inc. raised $5.7 million in seed funding led by First Round Capital.
• ATX Venture Partners is raising a $125 million primary fund for seed and series A investments and a $250 million to $500 million growth equity fund.


Work Underway On East Austin Office Project

Commercial Property Executive  – 5/6/2022

Work is underway at Alto, a 110,000-square-foot office project in the East Austin submarket, developed by a partnership between AQUILA Commercial and institutional investors advised by J.P. Morgan Asset Management. The Class A creative office, formerly known as 7th and San Marcos, is expected to come online in the fourth quarter of 2023. Upon completion, Alto will occupy less than an acre at 924 E. Seventh St., the highest point in the East Austin submarket. The five-story office building will take shape atop four levels of underground parking.


More Than 1,000 New Homes Planned For Williamson County Development

Austin American Statesman – 5/11/2022

More than 1,000 new homes are planned for the Vineyard at Florence, a Tuscan-style resort, vineyard and winery spanning more than 600 acres in Williamson County.

With estate lots selling at a “brisk pace” in the first phase, executives with the resort community said that more than 1,000 additional home sites are planned in future phases over time. The first residential phase began last year and is almost completed.  The resort is near the town of Florence, about 50 miles northwest of Austin, where the housing market is seeing strong demand and surging home prices.



Commercial Real Estate Awards: Austin’s Best Real Estate Deals Crowned

ABJ  – 5/13/2022

Transaction winners were crowned May 12 in the Commercial Real Estate Awards in four categories: office, industrial, multifamily and retail. Winning transactions include:
» Teacher Retirement System of Texas purchase of Mueller building for new headquarters.
» CelLink lease at Gateway35 in Georgetown.
» Flatiron Domain, a trophy asset in the dynamic Domain neighborhood in North Austin.
» The new Tesla center in South Austin.
Click on the link below to read more.


Real Estate Roundup: CenterPoint Properties Buys Into Hutto, Plus Dozens More Deals

ABJ  – 5/9/2022

• CenterPoint Properties Trust has acquired a two-building, 361,467-sq. ft. industrial park in Hutto. The buildings are located at 1050 and 1070 New Technology Blvd., tucked between U.S. Route 79 and SH-130.
• Elsewhere in Hutto, Miami-based AHS Residential LLC announced it closed on financing for AHS Hutto Square, a 204-unit garden-style apartment community set be delivered in the second quarter of 2023.
• 6414 River Place Blvd Austin LLC purchased a 15,862-sq. ft. office building at 6414 River Place Blvd. from BRHG Austin Property One LP.


South Congress Retailers Grapple With Street’s Future As Rents Touch $150 Per Square Foot

ABJ  – 5/12/2022

There’s one place in Austin where retailers pay Manhattan-like rents: South Congress Avenue. Interest from around the globe has boosted demand to stratospheric levels for a city known more for cowboy boots than expensive handbags.  South Congress is one of the few places in the country where retail rents now push into the triple digits.

John Heffington with CBRE does not expect South Congress to turn into Rodeo Drive in Beverly Hills but said more high-end retailers like Hermès at 1221 S. Congress Ave. are sure to follow.


Canadian Firm Expands Its US Single-Family Rental Footprint By Hundreds of Buildable Lots

CoStar – 5/9/2022

A Canadian real estate developer is expanding its U.S. footprint in building single-family rental homes as the niche sector is expected to strengthen with a shortage of housing. Toronto-based residential builder Great Gulf Group announced that it bought 787 residential lots spread between seven master-planned developments in three metropolitan areas in Texas: Austin, Houston and San Antonio.



Real Estate Firm Eyes Mixed-Use Rehab, Redevelopment In Hopes Of Revitalizing Austin’s Sixth Street Entertainment District

Community Impact  – 5/10/2022

A portion of East Sixth Street could be in line for a makeover, as the real estate firm controlling multiple properties on the eastern edge of the downtown aims to improve public safety and commercial activity in the entertainment district.

Stream Realty Partners, which owns several of the historic structures lining East Sixth between Brazos Street and I-35, is planning for the redevelopment and rehabilitation of some of those properties.  Stream’s plans involve the addition of new office and restaurant space—including new vertical development above existing buildings—and local infrastructure improvements.


TruAmerica Multifamily Acquires 230-Unit Cannon Oaks Apartments in Austin

REBusiness – 4/29/2022

Los Angeles-based investment firm TruAmerica Multifamily has acquired Cannon Oaks, a 230-unit apartment community in Austin. Built in 2003, Cannon Oaks offers a mix of two-, three- and four- bedroom apartments averaging roughly 1,000 square feet. The amenity package comprises a pool, fitness center, clubhouse and a children’s play area. TruAmerica plans to renovate interior units with new quartz countertops, stainless steel appliances, vinyl plank flooring, white shaker cabinetry and upgraded lighting and plumbing fixtures.



Council Gives Rezoning Approval For 11.25 Acre Townhome Development Just South Of Downtown Round Rock

Community Impact – 5/12/2022

Round Rock officials rezoned a new housing development south of the city’s downtown area to a planned unit development.  Plans for the project include a maximum of 410 urban multifamily units and 19 townhomes.

The project along E. Logan and S. Mays Streets was previously zoned for single family, commercial and light industrial use, but officials unanimously approved the change during a May 12 city council meeting. The proposed project is known as the Arte PUD by developer W.B. Property Group.


Private Equity Firm Buys Planet Fitness Franchisee For Reported $675 Million

CoStar – 5/10/2022

Another major franchisee of fast-growing Planet Fitness has been sold, and this time the health club chain itself isn’t the buyer. Olympus Partners, a Stamford, Connecticut-based private equity firm, has acquired Excel Fitness Holdings, a Planet Fitness franchisee serving Austin and Dallas in Texas. It was reported that the transaction was over $675 million, a vote of confidence for the health club industry.


A sale transaction closed this week on Buda35 a 52,500 SF office/warehouse project located at 17020 S IH 35 Frontage Road, Buda, TX. The project is a new Capella Development and went under contract during construction. Occupancy was close to 70% pre-leased at receipt of Certificate of Occupancy and time of sale. Factory Gym anchors the property and has opened for business.
Mike Shutt and Joe Knezevich  of Capella Commercial represented the Seller, Buda35 LLC, and Tawney Stedman of Capella Commercial represented the Buyer, VS, LP, a family owned trust actively purchasing office/warehouse and storage properties in the Austin area.
  For more details contact:

Tawney Stedman     512-960-6261
Mike Shutt     512-965-7298
Joe Knezevich     512-680-0271

Randall Beaman of Capella Commercial represented the Seller, McDonald Family Trust, on the sale of a 1,141 acre residential subdivision on Westwood Road in Lockhart, TX.  The Buyer was 1485 Holdings, LLC.  For more information contact Randy at:
Did You Know?

  • On May 14, 1888 began a week-long celebration dedicating the present Capitol building of Texas. 
  • On May 15, 1755, Tomás Sánchez de la Barrera y Garza founded Laredo with his family and several others. 
  • On May 17, 1865, the last 1,200 Federal prisoners left Camp Ford, a Confederate prison camp located four miles northeast of Tyler. 
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