This month was full of big news in the commercial real estate world. The finalists to develop the University Medical Center Brackenridge were announced, including two new players in the Austin investment scene. In addition to the Brackenridge site, 18 office projects totaling nearly 3.5 million square feet are currently under construction around town, as highlighted in our 4Q 2016 Austin Market Report.
The Rackspace deal fell through at Highland Mall, but Austin Community College is still moving forward at full steam with the property redevelopment. And two groundbreaking additions to the Austin retail scene: Carvana brought Austin one of the nation’s first car-vending machines and YETI opened its flagship retail store on South Congress Avenue.
Brackenridge hospital campus redevelopment race heats up, 4 finalists named
Central Health released the names of the four developers who made it to the final round of the selection process to redevelop the site of University Medical Center Brackenridge. The final list included Brandywine Realty Trust, Catellus Development, a partnership between Howard Hughes Corp. and Cambridge Holdings, and Wexford Science + Technology.
Need new office space? Check out these 18 projects underway around Austin
AQUILA released the 4Q 2016 Office Market Report, highlighting 18 major Austin developments underway. With nearly 3.5 million square feet of office under construction across the city, developments include 801 Barton Springs, The Diamond Building at Mueller and 500 West 2nd.
ACC says Rackspace deal at Austin’s old Highland Mall dashed, but property redevelopment in high gear
The deal between Rackspace and Austin Community College, for the tech giant to take nearly 200,000 square feet at the Highland Mall development fell through. However, the overall redevelopment is continuing on as planned; ACC, who acquired the mall in 2012, is continuing talks to redevelop the space and is beginning work on an $80 million phase II within the project.
Car vending machine now open for business in South Austin (Video)
Carvana opened the nation’s third coin-operated car vending machine along I-35 in South Austin. The five-story machine can hold 20 cars at a time and is a part of the company’s mission to “remove the stress and anxiety” and make car buying a “fun and exciting” experience.
Yeti Coolers unveils first store: A brand temple on border of new, old Austin
YETI opened its first retail store on South Congress Avenue. The flagship store brings life to what was a long-vacant property at the gateway to downtown. The store features a bar, stage neon signs and a screening area for promo videos.
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