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 University Oaks Shopping Center Inland Real Estate Acquisitions Inc. recently purchased five properties totaling approximately 1.3 million square feet, including the Ikea-anchored University Oaks (235,900 sf) retail development in Round Rock. Previously owned by McNeil Retail Ltd., University Oaks is located 201 University Oaks Blvd. near I-35. The center features Pets Mart, REI, Ross, JCPenney, Mattress Firm, Mighty Fine Burgers and many more. The July issue of Kiplinger’s Personal Finance magazine profiled the “10 Best Cities for the Next Decade” and guess which city was listed as Number One? You guessed it…Austin, Texas! Read more at 10 Best Cities for the Next Decade (Kiplinger’s Personal Finance magazine, July 2010). A CNBC study of America’s Top States for Business put the Lone Star State at No. 1 with the highest point total in the history of the study. The Texas economy is the 15th largest in the world and is home to 64 Fortune 500 companies - more than any other state. For more info read CNBC Top State for Business: Texas is back on top (USAToday, 7-13-10). The 100 largest metropolitan areas generated a total of more than $1 trillion worth in exports in 2008, according to the Export Nation report from the Brookings Institution. Did you know that Austin’s rate of exports increased 16 percent per year between 2003 and 2008, ranking it the tenth fastest-growing exporter in the U.S. and 26th overall?  Northtech Business Center 5 Austin Manufacturing Services (AMS) needed more space than it had at 9715 A Burnet Rd so it decided to move. AMS recently leased 45,360 sf in North Austin at Northtech Business Center 5 at 4616 W. Howard Ln. Read Austin Manufacturing Services leases 45Ksf (Austin Business Journal, 7-19-10).  5000 Plaza on the Lake Austin-based Endeavor Real Estate Group and Dallas-based Granite Properties have purchased 5000 Plaza on the Lake (119,000 square feet) from a partnership controlled by Aspen Growth Properties. The price of the building was not disclosed but it was reportedly 93% leased. The property is located near Loop 360 bridge and overlooks Lake Austin. Read Austin real estate group purchases building (Statesman, 7-16-10). Sunset Valley Village shopping center, located off Brodie Lane & Hwy 290 in South Austin, recently signed a lease with Seattle-based retailer Nordstrom, Inc. for a 34,040 square-foot Nordstrom Rack outlet store location to open next spring. Read Nordstrom’s opening outlet store in S. Austin (Austin Business Journal, 7-12-10). The Internal Revenue Service (IRS) leased about 47,000 square feet of office space in an unidentified office building in Northwest Austin. The new lease replaces the space at the Echelon Building which was destroyed in February by an intentional plane crash. Most of the workers who previously worked at the Echelon Building moved into the new location in early July while others have been assigned to other area IRS offices. Read IRS to open new office to replace location destroyed in plane crash (Community Impact Newspaper – Northwest Austin, 7-14-10). For more information, read Austin IRS plane crash site to be fixed soon (Austin Business Journal, 7-9-10). |
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