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    October 3, 2022

    Austin Deemed Top Market For Commercial Real Estate Investment This Year

    The Austin real estate market has experienced a boom as of late, benefitting from several years of steady population and job growth. According to CrowdStreet, the city is positioned as the #1 market for commercial real estate investment this year. New development plans reflect this trend, as Austin experiences increased demand for build-to-rent office, retail, and multifamily developments.

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    Development Updates in Austin

    Cousins Properties plans to develop a 26-story office high-rise known as Domain Central 1. The project, located in the North Austin mixed-use district Domain Central, offers 456,000 square feet of rentable space and has the potential to initiate the development of several other high-rise buildings in the area.

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    MFB Real Estate has plans to develop an office building in Oak Hill. However, according to VP Jay Legg, the team may shift gears and turn it into a larger multifamily development. Nationwide, several factors have contributed to a growing number of office-to-multifamily conversions, although these are likely unrelated to MFB’s potential pivot.

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    Generational Commercial Properties has started work on a seven-story office project south of downtown called Zilker Point. Upon completion, the development will include 192,00 square feet of office space and 15,000 square feet of retail space.  

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    Tag(s): Texas Digest

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