Industrial Space Lease Austin
Industrial Space Lease Austin Tenants are looking for industrial space for lease in Austin with various usages. There are different types of industrial space that are available that may or may not suit a tenant’s requirements. One of the most popular needs from tenants is to acquire small warehouse space for lease. Small industrial space in Austin for lease starts at anything below 5000 square feet. Typically the smaller warehouse property footprint does not allow for certain attributes that may be considered as important to tenants....
read moreRealtors break from Zillow and Trulia Summary
Realtors break from Zillow and Trulia Summary Many people feel since the advent of the internet and information at everyone’s fingertips a broker for commercial real estate or an agent for residential real estate is no longer needed. The question comes up, “If I can find the information myself, why do I need a Realtor or Commercial Real Estate Broker?” Recently 8 residential real estate brokerages broke their ties with Zillow and Trulia. The main thrust behind this decision was the Austin Board of Realtors said that it...
read moreAustin Mini Storage Warehouses
Austin Mini Storage Warehouses Originally called mini warehouses the common terminology today is self storage warehouse or mini storage property in Austin. There is some liability associated with the word warehouse and this is why the change has occurred. Under common law, a person who runs a warehouse in Austin where goods are stored for the general public is fully responsible for those goods that are stored. Because landlords lease mini storage or self storage warehouses to tenants this is the main reason the terminology has changed....
read moreAustin Warehouse Space for Sale Report October 2013
Austin Warehouse Space for Sale Report for October 2013 There are alot of buyers that look for Austin warehouse spaces for sale ,this is a summary of the supply of warehouse space in Austin for October 2013. We can start with where the supply of warehouse space is in Austin by square footage. The thinnest area of warehouse properties for sale is in the 5,000 SF range or lower. Below are bullet points summarizing the supply of Austin warehouse space at 5000 SF or below. 5,000 SF or lower In the Austin area 5,000 SF there are 47 properties...
read moreLandlord Tenant Relationships
Landlord Tenant Relationships When a tenant enters into a lease agreement the landlord are not mutually exclusive relationship. Any good relationship between a landlord and tenant relations begins with a clear understanding of the rules and regulations along with provisions of the lease agreement. During the lease period it is important that the servicing of the lease is done correctly and effectively. Renewals of lease agreements are an important part of the lease agreement as well because they do save a landlord the costs of improving an...
read moreTenant Relocation Austin
Tenant relocation Austin As a tenant there is going to be a time when you are looking to relocate or consider a relocation. This blog is about alternative strategies that may keep you were you are and as a tenant you do not have to relocate in Austin. When should you first consider relocation? Commonly, this happens upon your lease expiration. If as a tenant you are a start up business with no track history and you are looking to lease a warehouse space, there are quite a few things when you first move into a space. One of the key things...
read moreTenants in Common Overview
When a tenancy in common arrangement is created, each individual owner, called a “co-tenant” or “co-owner,”
read moreSummary of an ALTA Survey and Zoning
ALTA Survey and Zoning An ALTA (American Land Title Association) Survey is essentially a pictorial representation of the title showing a potential buyer the following elements: Boundaries Existing improvements Utilities and Significant observations ALTA Survey Costs Approximately 80% of surveys will cost a buyer $3,000-$6,000. Some of the common issues in a survey are differing legal descriptions , easements and encroachments , boundary issues with neighbors, flood zones and non conformance with zoning. Summary of an ALTA Survey and Zoning ...
read moreCommercial Property Due Diligence
The average turn time for a commercial real estate environmental study is 3 weeks with a cost of approximately $2000.00.
read moreTenant Improvements Explained
Tenant improvements explained Rarely in the case of commercial real estate does a tenant find a space layout that has a floor plan that matches exactly what a tenant wants. Tenant improvements also work a bit differently depending on the type of space you are looking at and is related usage. Here is a snapshot of what you would looking at for office space, retail space and warehouse space. Office and Warehouse tenant improvements Office space allowances Office space will usually have a tenant improvement allowance involved, landlords know...
read moreHiring a Tenant Representative
Hiring an Austin tenant representative There are 3 important benefits to hiring a tenant representative when looking for office or warehouse space to lease in the Austin area. First, a tenant representative does not typically charge their clients directly Tenant representatives are paid by the landlord of the property. Secondly, the tenant representative represents your interests only, not the landlords so there is no conflict of itnerests involved. And thirdly, a tenant representative will know the market well enough to help your company...
read moreAustin Warehouse Report | Q1 2018
Austin Warehouse Report-Summary for Q1 2018 In a nutshell, the word for the Austin warehouse report is more development and deliveries. Approximately 20+% inventory has been delivered within the past 5 quarters than a period of 6 years. Most of the new inventory has been in the Southeast warehouse market , with more developments occurring in the Northeast sub-market of Austin towards Hutto. Vacancy rates have climbed to over 10% now and lease rates have declined a bit by about $0.28 cents per square foot per month. Forward Expectations...
read moreWarehouse Leasing
Warehouse Sub-Market and Square Footage The size of any warehouse space and those within a specific sub-market can greatly determine the base leasing rate. For warehouse properties, the warehouse leasing rate is derived as a base rate typically that has NNN (triple net expenses) added onto the rate. Landlords will typically try and want to maximize their rental rates for warehouses to ensure income stream, this is an accepted practice and there isn’t much a tenant can do about it. The advantage a tenant has would be in down markets,...
read moreAustin Warehouse Market Q4 2017
Austin Warehouse Market Wrap up Q4 2017 Let’s wrap up with the following Austin warehouse market ending Q4 2017, which can be summed up in a short statement “low supply and higher demands”. For the 2017 year, overall the warehouse market in Austin stayed for the most part under 10% vacancy rates. Higher demand pushed lease rates up higher and asking sales prices of properties. Although demand stayed strong, lease rates did decline a bit at the end of the year by approx $0.25 cents per square foot per year. Net absorption...
read moreRenting a warehouse
Renting a Warehouse in Austin? What is involved in renting a warehouse? If you are a new business and this is your first run at a warehouse or perhaps you are a young company moving from one warehouse property to the next this blog is for you. Renting a warehouse is not just a process of finding something on the internet and cutting a deal. If it was that simple, then a commercial real estate broker or agents would not need any experience or any mandatory continuing education. Let’s start with the simple things first, identification. ...
read moreAustin warehouse construction | Q2 2017
Austin warehouse construction growing With Austin’s industrial market still below 10% for the past year , Austin warehouse construction is starting to see some emphasis. For the most recent quarter, occupancy rates remained the same with still positive occupancy. New Austin warehouse construction delivered during the 2nd quarter of 2017. Most of the new construction was delivered in the Southeast sub-market. The SE sub-market has always been one of the highest concentrations of industrial product for the Austin area. Of the 800,000+...
read moreAustin Industrial Market | Q2 2017
Austin Industrial Market | Q2 2017 Austin’s industrial market is still fairly tight , vacancies did move upward since the 1st Quarter of 2017. We are still hovering below 9% vacancy rates. In some sub-markets the vacancy rates are as low as 2.2% , currently the Northwest area of Austin has the lowest vacancies. We tend to get a lot of calls regarding industrial space that is below 4000SF and a prospective tenant wants a dock high and 18 wheeler access. For tenants looking for this type of solution, it will be a tough haul. Within the...
read moreAustin Warehouse Market | Q1 2017
Austin Warehouse Market | Q1 2017 Here is quarterly report for the Austin warehouse market at the end of March 2017. Current vacancies have remained relatively the same at 7% with occupancies continuing to stay very high in the Austin Texas and Central Texas area. Market fundamentals remain strong and average asking rents have increased since last quarter up $0.12 cents per square foot per year. Demand continues and supply of warehouse properties under 5000SF has become even tighter. As a tenant looking to lease a property in the Austin...
read moreBuyer Loyalty
Buyer Loyalty For every buyer a commercial real estate broker works with, we come into contact with another dozen “pretenders”. Buyer loyalty is critical to an effective transaction as well as the commercial real estate broker’s loyalty to the Buyer as their client. Pretenders use the Broker’s time and effort only to glean information from them and feel no buyer loyalty to buy a property that the Broker shows them during their engagement. Also what may happen is the Buyer make try to cut the Broker out of their...
read moreTenants in common
Tenants in Common In some commercial real estate markets it is difficult to convert rental apartments due to rent controls and condo conversion laws. Innovative real estate investors have found a way to circumvent the restrictive nature of the market by utilizing tenants in common also referred to as TIC. Tenants in common is a popular form of joint ownership which creates a hybrid type commercial real estate property. Snapshot of Tenants in Common and how it works Consider you have a four unit rental property that is depressed but due to...
read moreAustin Warehouse Market |Q2 2016
Austin Warehouse Market | Q2 2016 Here is a summary of the Austin warehouse market for the 2nd quarter in 2016, it is looking like we are headed for a 20 yr low for vacancies. Current vacancy rates in the Austin area are coming in at below 7 percent currently at 6.7%. There is alot of corporate interest in Austin and the city’s incentives to get the attention of large corporations. Most warehouse spaces that are being occupied are smaller in size below 30,000SF. Lease Rates for Warehouse Properties Austin’s warehouse leasing rates...
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This property was listed by Shire Commercial, the seller had moved out of the complex and was renting to a tenant that eventually vacated the office condo in Cedar Park. The property was marketed with a Virtual Tour from Shir…
