4 Reasons To Use a Tenant Representative to find Austin Office Space

Posted on April 3, 2012 by admin

In this video you will hear some wonderful testimonials from our valued clients as well as an opportunity to meet our commercial real estate team and learn more about finding your Austin office space through the tenant representation services here at Austin Tenant Advisors.

You’ll also learn why it’s so important to have a tenant representative on your side as you’re looking for office space for rent in Austin.  Here are 4 reasons why a tenant representative can work in your favor:

1.  A Tenant Representative can save you money in your lease negotiation.  Because we have transaction experience having negotiated over 200 leases you will be armed and educated with all the info you need to ensure you get the best deal.

2.  A seasoned Tenant Representative can help save you time.  We know what is available, when it’s available, and at what price.  No need to waste your time sifting through outdated internet listings or chasing for lease signs.  We do all the legwork and only show you options that meet your needs.

3.  You get your own Tenant Representative at no cost to you because the Landlord pays our fee

4.  You get unbiased advice from your Tenant Representative

Just hear what our client have to say….

 

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RISE Austin Offers a Week Long Event for Local Entrepreneurs

Posted on March 28, 2012 by admin

RISE LogoHere’s another reason why Austin is a hot bed for small business and the entrepreneurial spirit.  This week, Austin is home to the Relationship & Information Series for Entrepreneurs (RISE).  Created in 2007 in Austin, this non-profit program has granted entrepreneurs from all backgrounds the chance to enjoy a week of free seminars and small-group sessions hosted by tested entrepreneurs throughout the city.  The event has since become a year-long international program aimed at educating and empowering entrepreneurs at all levels.  The small-group sessions are typically hosted by local volunteers on any topic of their choice at any location (typically their companys’s Austin office space) throughout the city.

Filmmaker Robert Rodriguez kicked off the event Monday with a keynote address in the Bob Bullock Texas State History Museum.  Some of the larger events this week include two separate Fast Pitch competitions, one based off new business ventures, and one based off of Social Innovation.  In both competitions, ten teams will be allotted one minute to pitch their business idea in front of a crowd and a panel of seasoned professionals and investors.  Other events in this information series include a Funding Forum where entrepreneurs can pitch their business proposal to a panel of bankers and investors and receive valuable feedback as well as a forum specifically aimed at women entrepreneurs.

Although registration for the events has closed, it is still possible to sit in on some of the larger events to get a feel for what RISE is all about.  This is no doubt a wonderful opportunity for any business owner to network among industry professionals and make some great contacts.  With that, I challenge all of the business owners out there to take advantage of the beneficial events that Austin offers to grow your business and create more traffic to your Business Rental Space.

For more information about these events visit the RISE Austin website.

 

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SXSW and the Austin Economy

Posted on March 20, 2012 by admin

SXSW Austin, Tx

This March marks the 26th annual trade show, conference and music/ film festival in Austin, TX known as South by Southwest or SXSW.  For two weeks the streets ran rampant with out-of-towners and Austinites alike to catch the newest wave of technology, undiscovered artists as well as renowned musicians from around the world, and a festival of film screenings from the famous and the up and coming.  This year, Austin became the host of a 9 day industry conference, 2,100 artists who took the stage in over 81 venues, and upwards of 500 film screenings in 9 theaters.  Total attendance in 2011 for the festival was over 286,000 and reports estimate this figure to have increased this year.  Some events that drew attention this year included conferences where creators of start-up companies were offered the opportunity to rapidly meet partners and investors in a fashion similar to speed-dating, a plethora of catered parties hosted by companies, and drawings to gain access to exclusive performing acts such as Bruce Springsteen.  Austin’s unique and veracious appeal make it the perfect fit for a festival of this magnitude and the city bolsters the numbers to prove it.  Below are a few interesting facts about the festival and the economic impact it has on the Austin Economy.

  • This year, SXSW was responsible for over 50,000 individual room bookings at local and surrounding hotels.
  • Last year, SXSW added right under $168 million dollars into the Austin economy.  This figure is drawn from three sources of impact: direct impact, indirect impact, and induced impact.  The direct impact deals with money that is brought in directly through the festival such as the revenues a catering company receives from hosting events.  The indirect impact is comprised of the benefits witnessed by associated companies that are directly affected such as a food distribution company that supplies goods to a company that hosts a catering event.  The third component that injects money into the Austin economy is the induced impact, which includes an increase in spending by those who witness an increase in earnings due to the festival.
  • In 2011, SXSW and the city of Austin was the subject in over 260 million stories and articles including broadcast, print and the web.
  • Although the festival only lasts two weeks, SXSW keeps a full-time staff of over 120 workers throughout the year and other seasonal workers that equate to another 50 full time employees.

Sunday marked the final night of another successful year for SXSW.  Luckily for small businesses, there is now an opportunity to ride the coat tails of all of the SXSW success.  With a surge of cash inflow to the city, this could be a great time for small businesses to gain exposure and promote their Austin Office Space.

 

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Austin Retail Space Market on the Upswing

Posted on March 8, 2012 by admin

Austin Retail Space For RentIf you are nearing the end of your lease term now is the time to be proactive and time sensitive about making the decision of whether to renew your lease or relocate.  Fourth quarter numbers showed that the Austin retail space rental market as a whole experienced occupancy levels of 90.6 percent, up .2 percent from the previous year.  Retail space Rental rates are expected to rise alongside the growing demand for retail space.  By acting now, you can be sure to save money by locking in a rate today instead of waiting for them to rise, as well as having a better selection of potential future locations by being a step ahead of your competitors for the space.  Also, with limited space available on the market, it is speculated that Austin can also expect to see a fair amount of new completed space and construction activity in the next couple of years.  So, if you currently have some time left on your existing lease, anticipate an increase in new product over the next couple of years and keep your eyes peeled for attractive new space.

 

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Austin Business Rentals to Face Higher Energy Bills

Posted on March 6, 2012 by admin

Business Rental Space - Energy BillsHey small business owners- did you know that Austin energy is planning to restructure their energy rate plan in a manner that will be more costly to your business rental space? Historically, small businesses have “favored” in regard to energy costs by saving upwards of 30 percent on the energy necessary to support them. The new pricing structure is designed to allocate costs more efficiently in an effort to pass some of the cost from large companies to small businesses. It is said that this rate restructure could raise the price of your electric bill by as much as 22 percent! At that rate, you would be forking out thousands of dollars in additional fees per year. Here are some helpful tips to tackle this issue:

  • Track what you’re paying and monitor your cash flow. Make it a point to know what you historically pay for energy during any given part of the year. Know what you typically pay and begin budgeting for an increase of up to 22%.
  • Get Proactive – Austin is a city that has flourished largely in part to a strong community of small businesses. Stand up against this change that could hinder the competitiveness of your business
  • Stay informed – Keep a keen eye on events surrounding this issue and advancements in the proposition. Monitor the progress of the proposition and spread the word to others in the community.

If you are considering leasing an Austin office space in which you would be required to pay your own electric VS a commercial building that includes electric as part of the rent, make sure you compare apples to apples.  If you lease a building that requires you to pay for your own electric estimate another $2 to $3.50 per sf/yr for electricity.

 

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Downtown Austin Office Space – A Growing Market

Posted on February 24, 2012 by admin

Downtown Austin Office SpaceThere’s a lot happening with Downtown Austin office space.  The growth plans for Austin are astronomical with city planners expecting the population will likely double over the next 30 years to 1.5 million.  This spring, the city is planning to adopt a new growth and development plan that will help the city start preparing for this growth.

All of this growth is also making a huge impact on jobs that are available in Austin too.  According to Economist Angelos Angelou and a recent seminar he had in Austin, he’s forecasting that the Austin area will see accelerated job growth in the next couple of years — 19,000 new jobs in 2012 and 20,000 jobs in 2013, he predicted.

If you’re interested in this part of town but not sure how much to budget, the average lease rates in Downtown Austin are approximate $33SF but can range from $17-$46 a square foot depending on what class of building you are in.  There are a lot of things to consider such as parking, commute times for your employees, etc. and all of this will have an impact on the type of space you choose for your business.

The downtown area is booming with development and there are several initiatives by the City of Austin to improve downtown such as improving the parks, including better rail transportation options, rejuvenating East Sixth St, and investing into the infrastructure to support the growth.

What a great place to start a business, huh?  If you’ve been thinking about opening or relocating your business and would like Downtown Austin Office Space, now’s the time to start your search.

 

 

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Lakeway Commercial Real Estate – A Rapidly Growing Market

Posted on January 16, 2012 by admin

Lakeway office space for leaseLakeway, TX has definitely been in the news recently – and for good reason.  The City of Lakeway is excited about the growth coming that the new Lakeway Regional Medical Center will bring.  The new hospital is planned to bring approximately 200-275 new jobs to the area and the development will be extensive.  The development is planned to support the hospital, a daycare, medical office space, several restaurants and retail.  The retail development should open in January of 2013.

The hospital is not the only good news that Lakeway has received.  The opening of several new restaurants have helped keep local residents happy as they have more options for evening dining.  Fore restaurant located at Lakeway Commons has been packed every night it’s been open and The League is holding its own.  If you’re a sushi lover, Cho Sushi has also recently opened and has phenomenal sushi.  This is their second location in Lakeway and they also have another location in Steiner Ranch.

The following are a list of retail centers that could work for those hoping to open a retail, medical or office space location in the Lakeway area:

  • Lakeway Commons
  • Lakeway Town Centre
  • Lighthouse Market Lakeway
  • Lohman’s Crossing
  • Lakeway Regional Medical Center – retail or medical office space
  • Oak Grove Plaza

Contact us today if you’re looking for Lakeway Commercial Real Estate and we’ll help you find the perfect place for your business.

 

 

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Austin Commercial Office Lease Agreements – Your Yearly Review

Posted on January 8, 2012 by admin

Austin Office Space - Commercial Lease AgreementIt’s that time of year again and many businesses are doing performance reviews, company budget reviews, business insurance reviews, etc.  But what more businesses should be asking themselves is “Should I perform an Austin office space lease agreement review?”  Your commercial office lease agreement is one of the biggest financial obligations your company will make.  Why wouldn’t you do an annual review to make you don’t miss important dates and that it’s meeting your needs?

After signing a commercial lease agreement many businesses file the contract away and never look at it again.  Every lease is different however most have dates, deadlines, terms, and conditions that must be kept tract of (e.g. renewal/move-out notices, rofr and rofo deadlines, etc.).  If you don’t’ keep track of these it can be costly to your business so It’s a very good idea to read and understand the terms and conditions of your lease to ensure your business is not disrupted and that your office space is meeting your current and future needs.

Things To Consider 
Do you have your office lease in Austin backed up?  Do you know where it is?
When does your lease expire?
How many days before lease expiration are you required to give a notice to renew or vacate?
Do you have enough space to meet your business needs?
What are your options if you have too much space or too little?
What are comparable office buildings quoting for rental rates?  How do they compare to yours?
Do you have a ROFR or ROFO?  If so what are the terms of that?

Above are just a few of the many things to consider when doing an annual review of your Austin office space lease contract.  Be sure to read and really understand the terms and conditions of your lease, make sure it meets your current and future business needs, and give yourself plenty of time to make the right decisions for your business.  You will be glad that you did.

 

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Sears Closing Stores – Lessons For Austin Retail Owners

Posted on December 28, 2011 by admin

Austin Retail Real EstateBy now I’m sure most of you have heard that Sears is closing as many as 120 of its Sears and Kmart department stores.  More about that here.  This seems strange given that this holiday seasons retail sales were predicted to increase by 2% over 2010.  So how can a retail giant like Sears/Kmart continue to fall given their 125 year history of providing quality products, competitive pricing, innovation (e.g. catalog sales), and overall retail dominance?  You may have heard them blame the economy, stiff competition, drops in electronic and clothing sales, etc.  The real answer……………they got complacent and neglected their business!  So what can Austin retail property owners do to avoid what is happening to Sears?

1.  Lease the Right Retail Space location – Don’t rush into leasing the first retail property that comes along.  Give yourself time (1-4 months at least) to do the necessary research to find that perfect location.  If you have been in an Austin retail real estate location for the last 3-5 years and the traffic and visibility is not meeting your expectations then consider relocating.  Don’t settle!  Make a decision and do it.

2.  ABI aka Always Be Innovating – Target focuses on being trendy while still maintaining competitive pricing.  Walmart makes it easier for lower income families to purchase products with their layaway program, Others spend money every year to improve their brand or remodel their store fronts.  Whole Foods even with higher prices keeps customers returning because they offer a cool customer “Experience”.  The key is to try to think 1, 2, 3 years ahead on how you can continue to have happy, satisfied customers who will return again.  Do your research, spend a little money, and figure out how to make them happy…………not only now but later.

3.  Customer Feedback – Don’t be afraid to ask your customers what they like and don’t like about your store, products, or customer service.  The good news is that you can always take negative feedback and turn that into positive outcomes.  I know it’s hard to take criticism sometimes however it’s important to ask for it or you will never know what is working or NOT working.  If your customers have a bad experience they will tell 20 others.  You want to find out who they are and make them happy.

I have only listed a few tips for business owners who lease retail space in Austin.  If you would like more information or are interested in learning about Austin retail space lease rates feel free to contact us.

 

Posted in Austin Commercial Real Estate, Austin Retail Real Estate, Austin Retail Space, Austin Retail Space, Northwest Austin Retail, Retail Space For Lease Austin | Tagged , , | Leave a comment