NAIPartners-Annual-2018-1
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NAI PARTNERS<br />
<strong>2018</strong> ANNUAL<br />
In Austin, small industrial space becoming<br />
near-impossible to find; legacy restaurants<br />
are being displaced; and the office market<br />
remains defiantly tight<br />
NAI Partners Austin recently held its inaugural Austin<br />
Press Luncheon at its home base at 701 Brazos Street,<br />
and featured a panel of the company’s experts—including<br />
David Dawkins, Troy Martin, Todd Mahler and Stephen<br />
Wentworth—holding forth on a variety of trends and<br />
topics in Austin real estate they are seeing across the<br />
company’s Office, Industrial, Landlord Services and Retail<br />
service offerings, respectively.<br />
Highlights from the Austin real estate luncheon include:<br />
Troy Martin on Industrial:<br />
“In the very big warehouse distribution space — the<br />
20,000-sq.-ft.-plus level — there are actual spaces and<br />
availabilities for what feels like the first time in a long<br />
time. I feel like I have choices for my clients. Trying to find<br />
a small building, say 3,000 sq. ft. of industrial anywhere<br />
near downtown — is virtually impossible.”<br />
Stephen Wentworth on Retail:<br />
“One of the overarching trends in the retail space we’re<br />
seeing is the sheer volume of new developers coming<br />
in and kicking out long-established, neighborhood<br />
restaurants. Taxes continue to rise, rents continue to rise<br />
— it’s a challenging pill to swallow for many a smaller<br />
restaurateur and retailer.”<br />
David Dawkins on Office:<br />
“The office market in Austin remains tight. Five years ago if<br />
you had to put 500,000 sq. ft. on the ground, you’d wonder<br />
how long it would take to lease up. As Austin continues to<br />
increase its appeal for companies of all sizes — including<br />
names like Indeed and HomeAway—these types of spaces<br />
not only are filled very quickly, but are fewer and farther<br />
between.”<br />
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