Daily Briefing: 🏗️ Electron’s 107 Acres + Herzog’s Timber Masterpiece: Austin’s Hot Properties! 🔥

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Here’s what you need to know about CenTex CRE Today:

1. Tokyo Electron lists 107-acre Southeast Austin campus; development opportunities abound! 🏢

2. Herzog & De Meuron unveils mass-timber project, Sixth&Blanco in Austin. 🌲

3. Sixth & Blanco features ten luxury homes, starting construction Q1 2024. 🏡

Commercial Real Estate & Leasing Developments

Tokyo Electron selling 107-acre office campus in Southeast Austin

Source: The Real Deal

Summary: Electron is selling its 107-acre U.S. headquarters in Southeast Austin, with a 189,795 square foot campus and a 60-acre tract ready for development. No asking price was disclosed, but the 47-acre section was last appraised at $45 million and the undeveloped section at $4 million. The company is downsizing its office space in Austin, finalizing negotiations for a smaller facility in the city, which hasn't been disclosed yet. Tokyo Electron's move to downsize aligns with a broader trend among companies in Austin, including Meta and TikTok, who have also reduced their office space.

Why this matters: This sale presents a significant opportunity for commercial real estate professionals in Central Texas to capitalize on a large-scale development opportunity, potentially serving clients looking to expand their presence in Austin's thriving tech industry.

CCRM Fertility Signs 20,000 SF Office Lease at Uplands Corporate Center in Southwest Austin

Source: REBusinessOnline

Summary: CCRM Fertility has entered into a lease for a 20,000-square-foot office space at the Uplands Corporate Center in southwest Austin. The lease covers about half of the third floor of the Uplands II building, which has a total area of 124,081 square feet. JLL's Mark Harris and Elizabeth Thompson represented the tenant in the negotiations, while the landlord, Drawbridge Realty, was represented by Matt Frizzell and Kevin Granger of Cushman & Wakefield.

Why this matters: This lease showcases the continuing demand for office space in Austin, providing an opportunity for commercial real estate professionals to explore the corporate center market for their clients looking for spaces.

Mixed-Use & Residential Developments

Herzog & De Meuron’s first project in Texas will bring mass-timber to Austin

Source: Central Texas Real Estate News

Summary: Swiss architecture firm Herzog & De Meuron is introducing its first project in Texas - a five-story, mass timber mixed-use building named Sixth&Blanco, located in Clarksville, Austin. The development will occupy an entire city block, comprising new retail, art galleries, restaurants, ten residences, a hotel, and a range of luxury amenities. Sales for this development have officially begun. Designed in collaboration with Page Southerland Page, the structure will integrate with Austin’s historic fabric, featuring a continuous horizontal wooden structure that pays tribute to the city’s unique sense of place and cultural heritage.

Why this matters: Understanding the design, amenities, and location of high-profile developments like Sixth&Blanco can provide real estate professionals with valuable insights into market trends and client preferences, enabling them to better advise their clients on investment opportunities and lifestyle benefits in Central Texas.

10 Stunning Homes With an International Touch Revealed in Austin’s New Showcase Sixth & Blanco Development

Source: PaperCity Magazine

Summary: Swiss architecture firm Herzog & de Meuron, recognized for award-winning projects worldwide, has unveiled designs for ten luxury residences within the Sixth & Blanco mixed-use development in Austin's Clarksville neighborhood. Slated to begin construction in Q1 2024 and finish by 2026, this project encompasses 2.5 acres and includes a hotel, a private members club, and retail spaces. The residences, ranging from 4,600 square feet and up, will occupy the top two floors of the five-story structure and feature a mix of three to four bedrooms, abundant natural light, exposed wood, and organic materials sourced locally. The residences will also boast private cocktail pools and extensive outdoor entertaining spaces.

Why this matters: In a rapidly growing market like Central Texas, the Sixth & Blanco development is a prime example of combining luxury living with commercial amenities, offering commercial real estate professionals insights into market trends and the evolving expectations of high-end clients in the region.

Real Estate Market Trends & Opportunities

Former Dallas Cowboys Coach Jason Garrett Joins NPLA Conference Lineup on October 15-17 in Austin, Texas

Source: Tech Migration and Real Estate News

Summary: The article outlines a recent trend of tech companies migrating from Silicon Valley to Central Texas, which has led to a surge in demand for both commercial and residential properties. This influx has subsequently increased property prices and rents, with Austin's median home price rising to $475,000 as of the fourth quarter of 2020, a jump of nearly 20% from the previous year. This trend is expected to continue as more companies establish operations in the region.

Why this matters: The information in the article is relevant as it presents a unique opportunity for Central Texas real estate professionals to capitalize on the increased demand driven by tech companies, and by staying informed about this trend, they can better assist their clients in making informed decisions or potentially land lucrative deals.