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Austin Ranked #1 By the Urban Land Institute

24 Jan 2020 12:24 PM | luisa meouchi (Administrator)

Austin Ranked #1
By the Urban Land Institute

Urban Land Institute’s annual industry survey indicated that Austin claimed from six to the top of the list for big investor focus in 2020, due to its deep talent pool and a commitment to business and real estate development.

The Urban Land Institute is the oldest and largest network of cross-disciplinary real estate and land use experts in the world.

Each year, the ULI surveys roughly 1,450 real estate industry professionals across the country and tracks 80 U.S. metropolitan areas. More than half the professionals are private property owners, commercial real estate developers or hold positions within real estate advisory firms.

Following are some of the factors that has helped Austin to obtain its position:

• Apple's $1 billion campus now under construction

• A plan for a major airport expansion

• A big, new, mixed-use development near downtown on Lady Bird Lake

• The opening of the Dell Medical School at the University of Texas

“Our survey respondents rate Austin a solid ‘buy’ for industrial, offices, and apartments for the coming year,” the ULI organization found.


Urban Land Institute. Retrieved September 19, 2019 from h https://ulidigitalmarketing.blob.core.windows.net/emergingtrendspdfs/ET2020

https://product.costar.com/home/news/525217395?tag=1

Another important factor for investors is that Amazon announced to build a $200 million multistory distribution center in the Austin metroplex area.

The e-commerce powerhouse is considering Pflugerville, Texas, a suburb about 17 miles north of downtown Austin, for a 3.8 million-square-foot distribution center, according to public filings and people familiar with the project. State documents call “Project Charm” the $200 million logistics center that could be as tall as five stories.

Multistory warehouses are more common in Europe. in November 2019 Amazon opened a 2.26 million-square-foot distribution center in Poland.

The first multistory distribution center, or vertical warehouse, in the United States was built in Seattle by Prologis in 2018 and is partly leased to Amazon as well as Home Depot, according to JLL.

https://product.costar.com/home/news/878108265

Another proof of investor’s wiliness to buy in Austin is a resent $100 million investment in an office and industrial portfolio.

Mohr Capital, a Dallas real estate investor firm, purchased the 404,800-square-foot portfolio in the MetCenter, a 550-acre mixed-use business park in southeast Austin near the Austin Bergstrom International Airport, according to a statement from the company.

The $247 per square foot deal includes an 160,000-square-foot industrial building at 7000 Metropolis Drive that currently leased by Uber Advanced Technologies and Amazon.com, and four office buildings totaling 244,000 square feet leased to a mix of technology, government and healthcare tenants, according to the statement.

"With the city's substantial growth through corporate relocation and population inflow, and a favorable tax environment, we believe Austin will continue to rise and further solidify itself as a hub for business and innovation," Mohr said in the statement.


Article by:  Daniel La Rocca, MA, MBA
Contact: daniel@daniellarocca.com

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