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Eureka Warehouse finds! Warehouses may be a tenant’s gem for properties in Austin Texas.

Vacancy finds!

How is the vacancy doing in the commercial real estate market for industrial and flex type properties in Austin?

Answer: Good for you as a tenant or a potential buyer.

Vacancy rates are still hovering in the low 20 percentile due to more space being delivered which has kept vacancy rates higher than normal.  What’s the reason? Several actually, but mainly due to some shut downs of big companies along with an overbuilt market this is keeping the vacancies higher than normal.

What does that mean for you?

Here’s an example: some companies closing their offices, others have consolidated the amount of warehouse space they needed adding to the additional capacity of industrial property in the market today. Take the additional capacity along with a higher unemployment rate that translates to lower lease rates and more concessions available to tenants and buyers. For some sellers of property, there is still an elevated expectation of what the property should sell for. This will be evened out as time moves on and the hits or offers on the specific property are not very high.

Where are the best deals areas wise?

The highest percentage of vacant warehouse and industrial space is currently located in the Northern section of Austin followed by the Northeast and Round Rock area.  It comes as no surprise that there is more warehouse space available in the Round Rock area due to the technology laden market in Round Rock which has diminished since last year employment wise. The decline in available warehouse and industrial related properties since 2008 has not declined that significantly only around 3%

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Austin is located right in the heart of Texas and is a very historic city. The weather is usually mild in Austin throughout the year and there are a number of activities that take place in Austin that you can enjoy. Some of these popular Austin events include the following.

Fun Fun Fun Fest

This annual musical event is held at Waterloo Park and occurs the second weekend of November each year. The musical acts are all amateur acts that are looking for some instant exposure. In addition to music, there are also t-shirts and gifts available for purchase. The Fun Fun Fun Fest has been going on since the 1980s and features mostly punk style music. It is a very popular event for younger people.

Texas Bluegrass Festival

Texas Bluegrass is a music genre all unto itself and it is celebrated each year at the Texas Bluegrass Festival at Scholtz Garten. There is a slight admission fee to get into the festival, but it is open to the general public. In addition to hearing some of the best Texas Bluegrass Music, you can also partake in food and beverages that are served. The Texas Bluegrass Festival occurs the second weekend of February every year.

Comedy Fest

The Cap City Comedy Club has been holding an annual Comedy Fest each year during the first Saturday in March. Anyone can participate in this day long comedy fest that features yet undiscovered talent. This is open to the public, although there is an admission charge.

Alamo Memorial Days

During Memorial Day weekend, you might want to head over to the Bob Bullock Texas State History Museum so that you can learn about the Alamo Battle and also watch battle re-enactments. The Battle of the Alamo was where legendary frontiersman, Davy Crockett, was killed. The Alamo Memorial Days also include food and Texas Music.

Annual Tex Mex Festival and