Global real estate investors like London, Munich — and Austin

The idea of Austin as a significant global hub for technology is well-established, but Austin as a tempest of real estate investment? Apparently so.

Jeff Coddington, senior vice president of capital markets for JLL in Austin, says he has the data to prove it.

According to JLL’s “Globalisation and Competition: The New World of Cities” report, Austin is one of the top metros in the world for the velocity of commercial real estate deals relative to size. See the full report here.

Austin ranks No. 12 in the world in JLL’s Investment Intensity Index. It’s No. 4 in the U.S., being edged out only by Honolulu; San Jose, California; and San Francisco. The index measures real estate investment as a proportion of the city’s gross domestic product.

Read more on the Austin Business Journal

Will Austin-San Antonio be the next DFW?

By 2030, the Texas Water Development Board estimates the population of the Austin-San Antonio corridor will grow by a staggering 1.44 million people.

All 13 counties in the corridor are expected to see population gains ranging from 20% to almost 70% according to a report. And though suburbs like San Marcos and New Braunfels are expanding enough to bridge the gap along I-35, the cities of Austin and San Antonio are expected to retain their individual vibes.

Read more from Bisnow

The past 12 months have been stellar for Austin’s unemployment rate

It’s official: Austin’s monthly unemployment rate has remained under 4 percent for an entire year. New unemployment numbers show the region’s jobless rate essentially holding steady in the low three percent range.

The latest jobs report from the Texas Workforce Commission, released Friday, shows that Austin’s unadjusted unemployment rate held steady in October at 3.3 percent for the second-straight month, down from 3.8 percent in October 2014.

Read more from the Austin Business Journal

3M SF More Office in Domain’s Future

Endeavor wants the Domain to be much more than a big shopping center with nice amenities. SVP Jonathan Tate says every city ends up with a second “Downtown” when it gets big enough; he thinks we’re getting that big, and Endeavor aims to make the Domain fill that slot. It’s building 30 restaurants, more than the Warehouse District has, and he’d like to dispel one myth right now: the Domain is not done.


Austin office space: Who’s looking and where? It’s not just tech companies

Think the largest percentage of companies searching for office space in Austin are in the tech sector? Better think again.

About 30 percent of those shopping for office space in downtown Austin are in the professional services industry — accounting, research and other consulting, according to the latest third quarter report by JLL.

Read more on the Austin Business Journal

Read the full JLL third quarter Austin Market Report Here and Here

Austin No. 2 in the nation for overall real estate prospects – No. 1 for development

Austin ranked second in the nation for overall real estate prospects. That is the consensus of Emerging Trends in Real Estate 2016, the annual report published by the Urban Land Institute and PwC LLP.

Austin is ranked No. 1 for development across all 75 markets surveyed. It ranks No. 2 for homebuilding and No. 4 for investment.

Dallas ranked No. 1 for overall real estate prospects, including a No. 1 ranking for homebuilding.

How a financial industry giant is quietly growing its Austin empire

Charles Schwab Corp. (NYSE: SCHW) is moving forward with plans to build a dedicated campus for employees in North Austin starting with about $14.5 million in renovations at the so-called “Tivoli Building,” which it purchased nearly a year ago.

The acquisition, which closed in August 2014, included the mid-rise Tivoli office built in 2000, a 500-space parking structure and 60 acres that eventually will be developed. IBM Corp. was the seller of the property located near the Top Golf facility at Burnet Road and Esperanza Crossing.

Read More Here on the Austin Business Journal

General Motors buys huge building in North Austin

General Motors (NYSE: GM) has purchased a large office building in Austin to expand its IT Innovation Center — a business division the automaker created in 2012 to bring its IT functions back in house. Currently, there are four GM Innovation Centers across the country — in Michigan, Georgia, Arizona and here in Austin.

The purchase of the 302,604-square-foot building at 13201 McCallen Pass was announced by the seller, Karlin Real Estate based in Los Angeles. The price was not disclosed.

Read More Here on the Austin Business Journal

Austin’s hotel, construction industries pumping up job growth, studies show

Austin’s hospitality and tourism industry, as well as its construction sector, are among the fastest-growing of any counties in the United States, according to two reports from Headlight Data.

According to the report, Travis County saw 5.5 percent growth in the number of hotel accommodation jobs between 2013 and 2014. That’s the sixth-fastest growing hotel sector in the United States for counties with more than 1 million people.

Read More Here on the Austin Business Journal