Boise State University to Purchase 90,000 SF Office Building for $22.5 Million
Boise State University, located in Boise, Id., will purchase a 90,000 square-foot office building. The building, which costs an estimated $22.5 million, will help the university in its ongoing plans to move certain administrative functions off of campus. The university is expecting to close on the sale by the end of May 2020.
Austin Office Rents Growing Faster than Any US Submarket, Minus San Francisco
According to a report by CoStar Group Inc.’s Central Texas office, Austin ranks at the top for fastest office rent growth amongst any US submarket, minus San Francisco. Over the past 13 years, the city has seen its office rents downtown grow by 80%, thanks primarily to its low vacancies and extremely low unemployment. This consistent growth is one of the primary reasons that Austin is building the most office space in the country.
$98.5 Million in Mixed-Use Projects Underway in Corpus Christi
A variety of development projects are underway in Corpus Christi, Texas. The building which formerly served as the headquarters for H-E-B is being transformed into a mixed-use space featuring an unknown amount of office and retail space, along with a rooftop terrace. In total, there are $98.5 million in mixed-use projects underway in the city, which is nearly double the total amount of mixed-use investment seen in all of 2019 in the city.
Nine-Building Office Complex Being Built in Texas Town
The construction of an office complex is underway in Round Rock, Texas. The complex, named Gattis Office Complex, is being led by Texas Trinity Builders. The project will see the construction of nine buildings totalling 41 units of an unspecified square-footage of office space. While the project’s estimated construction costs are currently unknown, the complex is expected to open in summer 2021.
Developers Proceed with 130 Acre Mixed-Use Project in Wisconsin Town
Developers are proceeding with the construction of a large construction project in Shakopee, Wis. The developers’ concept plan is to turn the 130 acres of land into about 220 single-family homes, 160 townhomes, and three commercial buildings. There is currently talks of constructing a larger mixed-use retail center in the future which would feature retail, dining, and office space. The project’s estimated construction costs and timeline are currently unknown.