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Jimmy John’s brings business to East Austin
NAI Austin’s Retail Specialist Sherry Sanchez continues to represent Jimmy John’s Gourmet Sandwiches, this time in a lease of 1,400 square feet in East Austin. The new location will be the first on the east side of IH-35, at 1200 Barbara Jordan Blvd., between Airport Blvd. and 51st Street in the Mueller Airport redevelopment.
Jimmy John’s fresh ingredients and great employees, along with their subculture, make this restaurant unique. Its golden rule is “make a deal, keep a deal,” signifying its consistency in providing great service and food.
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Tutor Times plans for second location in Austin
NAI Austin’s Land and Commercial Building Specialist Dean Janeff represented Many Blessings, LLC in its purchase of 3.13 acres of land on Boulder Lane just west of RR 620 in Northwest Austin. Many Blessings, LLC plans to build a 10,000 square foot daycare center, Tutor Time.
Tutor Time provides educational programs during the school year and summer for children, six weeks old to 12 years old. It has over 300 locations in the U.S., Hong Kong, Indonesia, Portugal and the Philippines. The company was started in 1988, and this will be its second location in Austin.
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Charter school finds permanent residence
Dean Janeff represented Bright Horizons Children’s Centers, Inc, in the sale of their 10,536 square foot daycare center to the Texas Empowerment Academy in East Austin. The facility is located at 3613 Bluestein Drive, west of U.S. Hwy. 183 South (Ed Bluestein Boulevard).
The Texas Empowerment Academy is a charter school that was started in 1998. It offers small classes for a personal education experience for students, fifth to ninth grades. Tuition is free, and the school has been awarded the Governor’s Educator’s Excellence Award.
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Mediterranean Buffet finds home in Southwest Austin
NAI Austin’s Retail Specialist Ryan Coleman and Land and Commercial Specialist Dean Janeff leased 4,610 square feet of free-standing restaurant space to Dimassi’s Mediterranean Buffet. The restaurant is located at 4301 West William Cannon in the Costco-anchored Arbor Trails Shopping Center in Southwest Austin.
Dimassi’s Mediterranean Buffet is a Texas-based chain, with this being its eighth location. Their menu is varied, including appetizers like Baba Ghanouge and entrees like kabobs and even dessert. They serve all of their dishes with fresh pita bread. They also cater to surrounding areas.
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Jimmy John’s leases in Central Austin
Jimmy John’s, the nationwide sandwich shop chain, was represented by NAI Austin’s Retail Specialists Sherry Sanchez and Travis Waldrop in leasing 1,300 square feet in the Central Park Shopping Center. Located at 4100 North Lamar, this Jimmy John’s will be in good company with H.E.B.’s Central Market and other Austin-based tenants located in the popular shopping center.
Jimmy John’s was started in 1983 and currently has over 682 locations in 35 states, eight of which are in Austin. It offers made-to-order sandwiches, fresh soups and Jimmy John’s brand chips for both in-store dining and delivery.
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NAI Global Firms, Agents Earn 220 CoStar Power Broker Awards
NAI Global, the premier network of commercial real estate firms and one of the largest real estate services providers worldwide, today announced that 49 NAI member firms and 152 NAI agents were named Power Brokers by CoStar Group, a leading independent information provider for the commercial real estate industry, and Real Estate Forum, a prominent industry trade magazine.
CoStar Group tracks data on commercial properties and transactions throughout the U.S., U.K. and France. The Power Broker awards are presented annually to the top brokerage firms and individual agents in major U.S. markets based on their leasing and sales transaction activities the prior year. NAI received a total of 220 Power Broker awards across 52 markets for its performance in 2007, second only to CB Richard Ellis in total markets served.
“This exceptional showing reflects NAI’s commitment to provide clients with market-leading service,” said Jeffrey M. Finn, NAI Global President & CEO. “Whether they are major corporations, financial institutions or entrepreneurs, NAI professionals have the experience, knowledge and skill to add value in any situation. We are proud of this strong performance and appreciate the third-party recognition of such prominent, independent authorities like CoStar and Real Estate Forum.”
NAI member firms receiving honors include:
• NAI Austin, Austin, TX
• NAI Bergman, Cincinnati, OH
• NAI Brannen Goddard, Atlanta, GA
• NAI BT Commercial, San Francisco, Sacramento, Oakland/East Bay, San Jose/South Bay CA
• NAI Capital, Los Angeles, Orange County, Inland Empire, CA
• NAI Carolantic Realty, Raleigh-Durham, NC
• NAI CIR, Harrisburg, PA
• NAI Commercial Jacksonville, Jacksonville, FL
• NAI Commercial Properties, Tulsa, OK
• NAI Cummins Real Estate, Akron, OH
• NAI Daus, Cleveland, OH
• NAI DESCO, St. Louis, MO
• NAI Earle Furman LLC, Greenville-Spartanburg, SC
• NAI Farbman, Detroit, MI
• NAI Friedland Realty, Westchester, NY
• NAI Halford, Pensacola, FL
• NAI Heggeman Realty Company, Mobile, AL
• NAI Hiffman, Chicago, IL
• NAI Highland Commercial Group, Colorado Springs, CO
• NAI Horizon, Phoenix, AZ
• NAI Houston, Houston, TX
• NAI Huff Partners, Fort Worth, TX
• NAI Hunneman , Boston, MA
• NAI James E. Hanson, Inc., Northern NJ
• NAI KLNB, Baltimore, MD
• NAI Long Island, Long Island, NY
• NAI/Merin Hunter Codman, Inc., West Palm Beach, FL
• NAI Miami, Miami, FL
• NAI Mid-Michigan Vlahakis Commercial, Lansing, MI
• NAI MLG Commercial, Milwaukee, WI
• NAI Nashville, Nashville, TN
• NAI Norris, Beggs & Simpson, Portland, OR
• NAI Ohio Equities, Columbus, OH
• NAI Olympia Partners, Indianapolis, IN
• NAI Piedmont Triad, Greensboro/Winstron-Salem, NC
• NAI Pittsburgh Commercial, Pittsburgh, PA
• NAI Puget Sound Properties, Seattle, WA
• NAI Rauch, Weaver, Norfleet, Kurtz & Co., Ft. Lauderdale, FL
• NAI Realvest, Orlando, FL
• NAI Robert Lynn, Dallas, TX
• NAI Saig, Memphis, TN
• NAI Samuel D. Plotkin & Associates, Springfield, MA
• NAI San Diego, San Diego, CA
• NAI Sullivan Group, Oklahoma City, OK
• NAI The Michael Companies, Maryland/Washington, DC
• NAI Utah Commercial Real Estate, Salt lake City, UT
• NAI Walter Wagner, Jr., Louisville, KY
• NAI Welsh, Minneapolis, MN
• NAI West Michigan, Grand Rapids, MIThis information was released and written by NAI Global. For questions, contact Peter Setaro at psetaro@naiglobal.com.
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Making luxury local
NAI Austin’s Retail Specialists Leo Morales and Sherry Sanchez have another tenant signed up at the Lakeway Town Center Phase II. Luxe Salon is an upscale salon that will have the feel of downtown without the drive. Located at 2121 Lohmans Crossing Road, the 1,450 square feet suite will offer hair and skin services to both men and women.
Phase II of Lakeway Town Center is still leasing space to tenants. The center is ideal for retailers and restaurants and has various sized suites to choose from. Leasing in the Town Center is a chance to bring more of Austin out to Lakeway. For more information, contact Leo Morales or Sherry Sanchez.
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Industrial Source released
The semi-annual survey recently conducted by NAI Austin of industrial real estate absorption and vacancy reveals that, during the first half of 2008, just over 1,000,000 square feet were added to the industrial investment market. During the same period, 253,000 square feet were absorbed. The vacancy rate rose from 11 to 14 percent, with a total of 5,000,000 square feet available for lease in a market of over 35,000,000 square feet of investment grade properties.
The survey breaks down the industrial market into warehouse/industrial and lex/R&D. Flex/R&D has a higher building finish-out and can be used as low-cost office space. Warehouse/industrial has very little office space and is used for storage or manufacturing. Of the 35,000,000 square feet in the market, 65 percent is warehouse/industrial and 35 percent is flex/R&D. When separated, the flex/R&D is 12,788,227 square feet of the total market with a current vacancy rate of 15 percent. Warehouse/industrial comprises 22,771,151 square feet of the market, and its current vacancy is 14 percent.
In the last half of 2008, a total of 1,200,000 square feet of space should be delivered to the market. While some of this space is pre-leased, it is still likely that the vacancy rate will climb by the end of the year. This may be partially offset by an increase in the rate of absorption that has taken place historically in the third and fourth quarters for the past five years.
NAI Austin’s Industrial Group consists of Mark Milstead, Cheryl Morse, Phillip Bible, Jerry Heare, Royce Lacey, David Barber, Rob Eaves and Frank Niendorff. The NAI Austin Source - The Austin Metro Area Commercial Real Estate Market Report can be found here or at NAI Austin’s homepage.
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NexxLinx chooses Austin for expansion
The business communication solution company NexxLinx is expanding its services to Austin. Represented by NAI Office Specialists Lise Wineland and Josie Marshman, the President and CEO of NexxLinx Craig Mento leased 30,380 square feet of space in Suite 110 of the Northview Business Center at 9100 IH-35 South. This is its first location in Texas, and will create local jobs as well as provide a great quality of life for its current employees transferring to Austin.
NexxLinx was started in 1999 in Atlanta and allows companies to work more efficiently by using their own technology systems and software. Its partners include Kelly Services, Inc., IBM and PRC, and it serves companies such as Bank of America, Wachovia, Time Warner and Verizon.
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ACE Cash Express expands to South Austin
ACE Cash Express, the largest check cashing store in the U.S., with over 1,718 company-owned or franchised stores, represented by NAI Austin retail specialists Ryan Coleman and Leo Morales, has signed a lease for 1,600 square-feet of retail space in the Century South Plaza shopping center, located at 801 W. William Cannon. This new location is ACE Cash Express’ southern-most expansion so far in the Austin MSA.
ACE Cash Express, a member of Financial Service Centers of America (FISCA), provides financial services including check cashing, bill pay and short-term consumer loans; and it has over 38 million customers.