News Detail

Austin News Update July 3rd, 2022


July 3, 2022

John Spillar started his career 17 years ago in medical device sales and worked his way up to executive leadership in several different global companies.  He has been buying and selling Commercial Real Estate for 10+ years and is moving to Commercial Real Estate full time.  John plans to focus on Commercial Real Estate investment in the Retail and Storage asset classes as he personally owns and operates both Retail and Storage facilities in major markets throughout Texas.  He is excited to be joining the Capella Commercial team which has a long history of experience in Commercial Real Estate investing and leasing.
John can be reached at 512-552-1910,

2 Austin-Area Counties Weigh In Among The Healthiest In The Country, Says U.S. News

Austin Culture Map – 6/29/2022

Williamson County and Travis County stand out among the healthiest counties in the U.S. According to a new study by U.S. News & World Report, coming  in at No. 121 and No. 295, respectively, on its recent list the 500 healthiest counties in the country.


DISCO Opens 46,000 SF Headquarters Office in Downtown Austin

REBusiness – 6/22/2022

DISCO, a developer of cloud-based artificial intelligence solutions, has opened its 46,000-square-foot global headquarters office at One Eleven Congress in downtown Austin. Approximately 40 percent of the company’s 600 employees will work out of the headquarters space.


Hotel Ella To Quadruple In Size, Add High-End Amenities In $100M-Plus Renovation Plan

ABJ – 7/1//2022

Rex LLC plans a massive expansion of the historic 47-room Hotel Ella at 1900 Rio Grande St. in Central Austin that will quadruple the number of guest rooms and add a flurry of amenities.

The real estate and technology company plans to add an anchor fine dining restaurant of “Paris-level quality,” a cigar and scotch bar and a basement wine bar, according to founder and CEO Peter Rex. A rooftop garden and substantial underground parking could also be added.


University of Texas System Approves Five Austin Real Estate Deals for Future Expansions

CoStar  – 6/29/2022

The University of Texas Board of Regents approved the purchases of five properties in and around Austin, Texas, for future expansions.

The properties to be acquired are located at 2600 Lake Austin Blvd., 2201 to 2211 and 2301 E. Martin Luther King Jr. Blvd., 2004 University Ave., 2000 Whitis Ave., and 2901 Medical Arts St. The UT System will also acquire a surface parking lot at 2004 University Ave. from the McCombs School of Business Foundation to be used for future campus expansion.



The Geyser Group and The Sephira Group are under construction on The Johnny,
a 76-unit boutique multifamily development located in Austin’s Highland neighborhood.
(Rendering courtesy The Geyser Group)

Austin Suburb Sizzles With One Of The Hottest U.S. ZIP Codes For Homebuyers

Austin Culture Map – 6/28/2022

One of the country’s hottest ZIP codes for homebuyers is in one of the country’s hottest cities. A new ranking from real estate platform Opendoor puts the 78641 ZIP code in Leander at No. 6 among the country’s 20 hottest ZIP codes for homebuyers. Leander ranked second for population growth from July 2020 to July 2021 in cities with at least 50,000 residents.


Downtown Austin Taps Into Record-Setting Territory With $40 Million In Monthly Alcohol Sales

Austin Culture Map – 6/27/2022

Data from the Downtown Austin Alliance shows bars, restaurants, and other establishments in the heart of the city sold a little over $40.8 million worth of alcohol in March and $40.75 million in April. Buoyed by a back-in-person SXSW, the March total set a monthly record for downtown Austin.


P. Terry’s Drive-Thru Burger Stand In Dripping Springs Set To Open This Fall

Community Impact – 7/1/2022

P. Terry’s Burger Stand announced the opening of a drive-thru-only location at 12680 W. Hwy. 290, Ste. 200 in Dripping Springs. The new restaurant is expected to open this fall. The Austin burger chain serves breakfast, lunch, dinner and late-night service.


Cleartrace Raises $20M To Track Renewable Energy, Decarbonization Efforts

ABJ – 6/29/2022

Cleartrace Technologies, an Austin startup that helps renewable energy buyers track hourly energy and carbon use data, has raised $20 million which was led by Florida-based energy sector venture capital firm ClearSky.  Cleartrace counts JPMorgan Chase, Brookfield Properties and Iron Mountain as customers.


South By Southwest In Australia: Austin Event Plans A Down Under Version In 2023

Austin American Statesman – 6/30/2022

Austin’s famed South by Southwest festival is going global next year, putting on a weeklong version of the event in Australia. The first SXSW in Sydney, Australia is scheduled to for Oct. 15-22, 2023, with plans calling for a lineup similar to that of the signature Austin event.  SXSW’s annual Austin festival will still go on as planned on March 10-19.


Funding Wrap: True Wealth Ventures Closes $35M Fund To Back Women Entrepreneurs

ABJ – 6/28/2022

• True Wealth Ventures just announced it raised a $35 million second fund.  With the new fund, the firm plans to make 15 investments, focusing on promising women-led software, hardware and consumer packaged goods startups.
Click below to read more.


Geyser Group, Sephira Underway on 76-Unit Multifamily Project in East Austin

REBusiness – 6/28/2022

Locally based developer The Geyser Group is underway on construction of The Johnny, a 76-unit multifamily project in East Austin. Geyser Group is developing the project in partnership with The Sephira Group. Units will come in studio, one- and two-bedroom formats and 16 of the residences will be reserved for renters earning 60 percent or less of the area median income.  Construction began last November, and completion is slated for January 2023.


‘Essential To Prosperity’: Why Austin-Area Demand For Industrial Space Is Soaring

Austin American Statesman – 7/1/2022

Spurred by surging demand from suppliers and manufacturers, cavernous, boxy industrial buildings are springing up seemingly everywhere throughout Central Texas.

In a recent report, commercial real estate services firm CBRE said it expects Central Texas’ growing population, increased manufacturing — led by technology giants like Tesla and Samsung — and other factors to continue to drive strong demand for industrial space for the foreseeable future. More than 8.4 million sq. ft. of industrial space is under construction in Central Texas, according to Colliers, a commercial real estate brokerage firm, and millions more sq. ft. — by one estimate up to 30 million more —  are in the planning stage.



Here’s Why CRE Deal Volume May Not See Dramatic Slowdown In Second Half Of 2022

ABJ  – 6/29/2022

Capping off what’s looking to be a robust first half of 2022 for commercial real estate deal flow, at least one major firm is betting on a continued strong outlook for the rest of the year. London-based PricewaterhouseCoopers LLP this week found, in the first three months of 2022, total volume in the U.S. was up 68% compared to the same period for 2021, reaching $172 billion. Q2 data isn’t complete yet, but early indicators suggest transaction volume held up, amid surging interest rates and new questions about the broader economy.



New ‘Boutique’ Housing Development Slated For Bustling South Austin Area

Austin Culture Map – 7/1/2022

A“boutique” development featuring nearly 80 homes will soon get underway in South Austin. Houston-based David Weekley Homes will offer 79 single-family homes at the Village on Cooper Lane, near South First Street and West Dittmar Road. Prices start in the $600,000s, which is in line with the median home price in the city.


Development Agreement Altered For Huge Neighborhood Planned For Elgin

ABJ  – 6/29/2022

Nearly 2,500 residences are set to be constructed in a new neighborhood in Elgin. Elgin City Council on June 21 approved an amendment to a development and consent agreement for the Brickston Municipal Utility District which was delayed by the Covid-19 pandemic.  The Brickston MUD, situated on 637.3 acres on the western side of Elgin, will feature 1,909 single-family homes, 112 duplexes and 476 multifamily units.


PGIM Real Estate Provides $77M Acquisition Loan for New Austin Office Building

REBusiness  – 6/24/2022

PGIM Real Estate has provided a $77 million acquisition loan for Centro South, a 164,976-square-foot, newly constructed office building in Austin. Centro South represents Phase II of a larger development, and the sister building, Centro North, will be complete later this summer. At the time of the loan closing, Centro South was 96% leased.


H-E-B To Expand Temple Warehouse, Add At Least 100 Jobs

ABJ – 6/29/2022

H-E-B LP plans to expand its frozen distribution warehouse in Temple, about 70 miles north of Austin along I-35, which supports more than 100 stores, including across Central Texas.

The San Antonio-based grocery chain and Temple Economic Development Corp. announced June 29 that, pending final negotiations, the company would grow its current facility at 4750 Wendland Road by 325,000 square feet, with a new automated frozen distribution line which would add at least 100 jobs.


Dr. John Jacobson Sports Chiropractic will be relocating from Lakeway Commons to 1213 Ranch Road 620 S., Suite 104 in Lakeway.  The move to the company’s 1,770 SF space will be effective September 1, 2022.
For more info on this, contact:
Currin Van Eman
512-927-7150 Mbl
Did You Know?

  • The Liberty Bell rings 13 times every 4th of July to honor the 13 original states.
  • The first documented celebration of Independence Day with fireworks was in Philadelphia on July 4, 1777.
  • “The Star-Spangled Banner” was made the national anthem by a congressional resolution on March 3, 1931 and signed by President Herbert Hoover.
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