RECA Weekly NewsWire

Real Estate Council of Austin®

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Top Stories
We need big ideas and courageous leaders who will execute them in order to overcome our traffic congestion issues.

Visit http://www.reca.org/blog to view the full article online.

 
U.S. Economic Conditions Called 'Just Right' for Sustained Growth in Commercial Property Markets Through 2016

Visit http://www.costar.com/News/Article/Latest-NABE-Economic-Data-Reveals-This-Is-What-Good-Times-Look-Like-for-CRE-Industry/170207 to view the full article online.

 
In commercial real estate transactions, whether it’s a purchase or lease, letters of intent are ubiquitous.
They appear absolutely harmless. After all, they are nonbinding and only a "tool" for future negotiation, right?

Visit http://www.noozhawk.com/article/travis_logue_commercial_real_estate_letters_of_intent_contracts_20150328 to view the full article online.

 
Will Rainey Street’s newest condominium tower break ground this fall? If developer Sackman Enterprises has their way, the site at 70 Rainey will soon transform into Austin’s newest luxury residential tower to break ground.

Visit http://buildingatx.com/2015/04/details-emerge-for-raineys-newest-high-rise-renderings/ to view the full article online.

 
Advocacy
The House’s chief tax policy writer wants to one-up the Senate when it comes to cutting the state franchise tax for all businesses, big and small.

Visit http://www.dallasnews.com/news/politics/headlines/20150403-texas-houses-top-tax-writer-wants-the-same-cut-for-all-businesses.ece to view the full article online.

 
Naylor Association Solutions
Local News
New York City-based Sackman Enterprises is making its first foray into the Austin market, planning a 35-story mixed-use luxury condo project called SEVENTY RAINEY, to be located in the Rainey Street district, southeast of downtown.

Visit http://www.globest.com/news/12_1082/austin/multifamily/Sackman-Announces-First-Austin-Project-356803-1.html?ET=globest:e46059:852195a:&st=email&s=&cmp=gst:Texas_AM_20150406:editorial to view the full article online.

 
Austin-area retail real estate broker Carter Bailey has launched Vertique Development, which is poised to break ground this month on a Cedar Park retail project.

Visit http://www.bizjournals.com/austin/blog/real-estate/2015/04/new-austin-developer-uses-preschool-projects-to.html?ana=e_du_pub&s=article_du&ed=2015-04-06&u=QQstFqthh1Uzawg11yYSEw06e9dd6a&t=1428417779 to view the full article online.

 
With a strategy that focuses on recession-resilient commercial real estate segments, private equity firm Virtus Real Estate Capital has been active in student housing for more than a decade.

Visit http://www.globest.com/news/12_1075/national/student_housing/In-Student-Housing-The-Buyer-Pool-is-Deeper-356521-1.html?ET=globest:e45973:852195a:&st=email&s=&cmp=gst:National_AM_20150326:editorial to view the full article online.

 
Orange Coworking will open April 2 at 2110 W. Slaughter Lane, Ste. 160, offering workspace options and access to conference and meeting rooms to Southwest Austinites, owner Shelley Delayne said.

Visit http://impactnews.com/austin-metro/southwest-austin/coworking-space-opens-april-2-in-southwest-austin/?utm_source=+No+ad%3A+Community+Impact+Newsletter%2C+April+2%2C+2015+AUS&utm_campaign=April+2%2C+2015+AUS&utm_medium=email to view the full article online.

 
Pflugerville economic development officials are highlighting the city's racial and ethnic diversity as part of a revived push to market the Austin suburb as a place to do business.

Visit http://www.bizjournals.com/austin/blog/morning_call/2015/04/pflugerville-sells-economy-with-diversity-high.html?ana=e_aus_rdup&s=newsletter&ed=2015-04-07&u=QQstFqthh1Uzawg11yYSEw06e9dd6a&t=1428416845 to view the full article online.

 
National News
The news last month that Chicago's Willis Tower is selling for $1.5 billion suggests that the muscular former Sears Tower is now a 108-story bubble on the city's skyline. The sale price sets a new record for commercial buildings outside New York, but it's just one of the many new benchmarks that commercial real estate has set recently. They're fueled in large part by the epochally low interest rates that have prevailed since the country's mid-2000s financial crisis.

Visit http://www.huffingtonpost.com/jorge-newbery/commercial-real-estate-va_b_7011384.html to view the full article online.

 
Every year in the United States commercial organizations spend over $350 billion on energy, and it's estimated that more than $70 billion is wasted due to inefficient buildings, outdated lighting, underperforming HVAC systems and so on.

Visit http://www.globest.com/blogs/sior/sior/10-Steps-to-Sustainability-Success-356255-1.html?utm_medium=email&utm_source=Act-On+Software&utm_content=email&utm_campaign=ARA%20Newmark%20Sells%20Four%20Multifamily%20Assets&utm_term=Read%20More%20at%20GlobeSt.com& to view the full article online.

 
As Taylor Consulting, Inc. continues to target promising real estate assets in Colorado and Nevada, the company has broadened its search for commercial cannabis properties in more states expected to introduce recreational cannabis legislature in the near future.

Visit http://www.businesswire.com/news/home/20150326005105/en/TAYO-Targets-Real-Estate-States-Pending-Cannabis%20-%20.VRq9yE2BFtQ%20-%20.VSQ0G02BFtQ#.VSVdF02BFtQ to view the full article online.

 
Crowdfunding has become one of the hot topics in commercial real estate, and while many people hope the technique can bring in needed dollars to help finance individual deals, Scott Picken hopes it can change the world.

Visit http://www.globest.com/news/12_1079/national/finance/Can-Crowdfunding-Cure-Income-Inequality-356696-1.html to view the full article online.

 
Events
Date: 4/21/2015

Time: 11:15 am - 1:00 pm

The Four Seasons Hotel
98 San Jacinto Blvd.

Visit http://www.reca.org/events/event/april-ideas-forum-606957 to view the full article online.

 
RECA Real Estate Council of Austin®
98 San Jancinto Blvd. Suite 510 - Austin, Texas 78701
info@reca.org | www.reca.org