August 2016

Buda, Hutto, and Taylor Texas on a Map

How Many More Apartments Can They Cram Into Austin?

Mark Daniel by Mark Daniel, Vice President of Partner Relations at RealMassiveA.B. Economics Stanford University
 
 
I’ve written in the past about the Austin apartment market in Austin Apartment Long Term Trends – 1930 to 2015 and 17 Apartments, over 5,000 units delivered in Austin in 2015. Supply has poured into Austin at a frenzied pace, especially in and near the CBD with units capturing higher average rents than historic norms for the market. Needing room-mates (plural intended) to make the rent has become the norm for millennials in Austin, not necessarily the case 10 years ago.

That being said, rent growth is slowing now in Austin, and someone mentioned to me just this week that she saw a “body-for-hire standing outside Hanover waving a sign that said they had leasing specials available right now. Never seen that for any of the luxury apartments.”

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5 Must-Know Trends in the DFW Retail Market

“Jesse Tron By RealMassive
 
 
In June, The Crescent, uptown’s popular mixed-use complex, unveiled the results of a $33 million renovation project, the first since The Crescent’s opening in 1986. That opening triggered extensive development throughout the area, which has become more pedestrian-centered over the years. The renovation project was in part intended to accommodate this change.

The complex includes a luxury hotel, three office towers, and restaurants and retail shops. The recent additions include several new restaurants as well as revamped landscaping and the addition of several pocket parks. Eateries include the Ascension coffee house and Moxie’s Grill and Bar, among others.

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The Consumerization of #CRE

“Mike" by Mike Westgate, Vice President of Marketing at RealMassive

During my days at Microsoft, former market share minorities iPhone and iPad invaded the enterprise like a tsunami. Initially, corporate IT teams resisted Apple-tech due to the complexities of supporting multiple platforms and perceived security risks. With a huge Windows and Office install-base to protect, we wanted to believe the levy would hold indefinitely. Guess who won? Modern, tech-savvy professionals in all sectors began demanding work-life consistency resulting in new ergo-friendly workstations and flexible remote arrangements. All of which required support for their personal tech devices.

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3 Ways the Jacksonville Skyline is Changing

“Jesse Tron By RealMassive
 
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With its spectacular setting along the St. Johns River, downtown Jacksonville is the sparkling center of the community. Iconic towers and the striking Main Street Bridge are part of the city’s character, and so is its constant evolution. The downtown district, as well as the JAX beaches, are home to some of the area’s most familiar landmark buildings.

Some changes are happening along the city skyline, with new construction and renovation projects in prominent downtown locations as well as in beachfront multifamily.

Sale of The Strand

An important event in the local high-rise market was the recent, record-breaking sale of The Strand. This residential tower, built in 2007, was sold for $64.6 million, which comes to $219,000 for each of its 295 units. This well-known building was the only high-rise tower constructed downtown in the last decade, and some observers suggested that it might be more than the market can bear.

Indeed, there has been a move toward more mid-rise construction for multifamily in recent years, but this sale is seen by some as an indication that the demand for residential towers may be resurging.

Luxury towers like The Peninsula, Berkman Plaza, and San Marco Place are other prominent multifamily buildings on the downtown Jacksonville riverfront.

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5 Times Atlanta Breathed New Life Into Old CRE

“Jesse Tron By RealMassive

Tired commercial space challenges developers and begs the question: demolition or renovation? In many cases, the question can be creatively answered with brilliant results. The key is in playing up the unique or vintage features that make these properties appealing.

In Atlanta, developers have breathed new life into outdated and unused space in a wide variety of ways, using their awareness of market trends and community demographics to turn the drab into the fab for millions of Atlanta residents. Here are a few examples of inspired repurposing in the area.

Atlanta Skyline

 

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“Property Go” – VR in the Built Environment @ SXSW 2017

RealMassive By RealMassive
 

What is the SXSW Panel Picker?

The SXSW PanelPicker is a “process that allows the SXSW community to have a significant voice in programming SXSWedu, SXSW, and SXSW Eco conference activities (presentations, panels, discussions, demonstrations, etc.).”

This year, RealMassive’s Mike Westgate teamed up with Foundry Commercial’s Julie Augustyn and Digital Influencer Ryan Dennis to promote a SXSW conversation around commercial real estate (CRE) and modern technology.

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4 Things You Should Know About CRE in The Triangle

“Jesse Tron By RealMassive
 
 
The Triangle’s commercial real estate capital markets logged more than $1 billion in major property acquisition deals in the first quarter 2016, a 56 percent increase compared to the year prior.

Let that sink in.

This is truly a booming market. What’s driving this demand for CRE in the Raleigh-Durham market? Today we’ll discuss some of the factors behind this amazing level of activity, and explore what it may mean for the Triangle’s commercial real estate market moving forward.

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1. International Investment

Capital from foreign investors accounted for around 20% of all CRE acquisitions in the U.S. last year. As prices have risen in the gateway cities, international investors are showing increased interest in secondary markets.

For example, last year the sovereign wealth fund of the government of Abu Dhabi paid nearly $103 million for 2 hotels in the area. And the prices being commanded in the Triangle are not bargain rates. The $79.91 million price tag for the Renaissance Raleigh North Hills translates to nearly $350,000 a room, and that’s comparable to what some hotel investors pay in major U.S. urban markets like New York or Chicago.

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