The Future of Texas Office Spaces: Innovation Driving the Real Estate Revolution 🚀

Discover the game-changing trends transforming Texas office spaces in our latest blog! We break down the major shifts shaking up the commercial real estate landscape, from soaring vacancy rates to breakthrough strategies revolutionizing leasing. Talent acquisition is the name of the game for businesses, so their needs drive leasing. Whether you’re an investor, developer, or business leader, this guide will help you navigate the evolving office market and stay ahead of the curve. 🏢

Women Leading the Charge in East Austin Commercial Real Estate Development

East Austin is getting a fresh new landmark at the corner of East Seventh Street and Pedernales, and it’s not your typical development project. WORKBENCH, a four-story office, retail, and restaurant space, with staggering odds that 3 of 6 equity partners are women. The three powerhouse women and equity partners: Jennifer Seay of Art + Artisans, Shawna Sieck of Legacy Lighting, and DeLea Becker of Beck-Reit Commercial Real Estate are using the development to shine a light on women in commercial real estate. This isn’t just another East Austin commercial real estate project—it's a statement on the future of women in the industry.

WORKBENCH, a 50,000 SF office development breaking ground in East Austin, is proudly 50% owned by women equity partners. Led by female founders Jennifer Seay, Shawna Sieck, and DeLea Becker, WORKBENCH stands as a symbol of progress for women in commercial real estate. This sustainable, women-led project aims to inspire female investors, entrepreneurs, and leaders to reshape the future of Austin’s business landscape.

East Austin was intentionally divided by the 1928 Master Plan, pushing minorities to one side and creating a division that would last for decades. Today, it’s not just about developing properties; it’s about preserving the rich history while steering the area toward a prosperous future. This isn’t just a business for me—it’s personal. We’re not just building structures; we’re rebuilding a community, keeping its authenticity intact while guiding it through explosive growth.

Our recent panel discussion on construction quality, led by DeLea Becker, emphasized the critical importance of maintaining high standards from the outset to avoid costly issues later. Experts Guy Dudley, Rommel Sulit, Collins Brunner, and Jeremy Smith shared insights on civil engineering, architectural perspectives, and the significant impact of insurance trends on construction practices. This comprehensive discussion provided invaluable advice for developers and contractors aiming to enhance construction quality and mitigate long-term risks.

Just as people started gearing up for times reminiscent of a pre-pandemic world folks were stunned by the economic swing that has some holding on for dear life, literally, while others are watching for the uptick to take a leap into opportunities and increase their fortunes. We at Beck-Reit thought it would be helpful to compile some noteworthy East Austin news for our community of small businesses, owners, and investors. So, here’s what’s been happening in our neck of the woods!

Commercial Real Estate Leasing is an insiders game. You have to know the market, property type, demand, owner and broker personalities and strategies. It is a cross between playing poker and 2 stepping- a lot of strategy.

Seeing Signs? Rising vacancy rates, higher concessions, slower rent growth, longer lease negotiations, and increasing sublease space. Discover essential strategies for navigating a softening commercial real estate market.

For their debut episode, the Texas Triangle Podcast had the honor of gaining insight from esteemed Dr. Lloyd Potter, a Texas State demographer. Read more information and statistics shared at the 2024 Texas Demographic Conference.

Disney has been buying up land around Jarrell, Texas for years now. The latest rumor is Disney bought 9,000 acres between Solado and Jarrell. What is Disney planning on building on all the land they’ve purchased? Salano Ranch - 9,000 acre Family Owned ranch set to close by June 2023

Beck-Reit aims to delve into the unraveling saga of StoryBuilt, exploring the company's rise, fall, legal battles, and the implications for the communities it has under construction. With over 14 of the projects underway we can expect the impact to be felt and there will be many that benefit from the opportunity. But not thier customers they made promises to in an Austin Business Journal Article in 2022 “We then saw the opportunities to expand beyond just acquisition and development and homebuilding and make sure we were managing our customers and properties for life.”

Times are surely changing and there’s no place like Austin for retail. Driving across America, you may likely find some vacant retail strips or ghost towns with empty stores but definitely not in Austin! Austin is just the opposite of a typical US city, with a surprisingly lower retail vacancy since 2020. The capital of Texas now has the lowest retail vacancy rate for any city in the State of Texas and is also one of the lowest in the country.  Competition is fierce in major Retail Areas such as the Domain and other trendy shopping streets like South Congress, 2nd street Downtown, Burnet Rd, and East Austin. Properties command high rent and spaces have multiple businesses looking at each sight and competing with each other to be selected by the Landlord.

1980s Real Estate Crisis and Lessons Learned Tramml Crow memo. Our favorite one : “Avoid debt like the plague. The sixth commandment is, Thou shalt shrink thine own organization before its overhead drives thee into the grave”

Michelle Anderson recently negotiated her son’s - Dylan Disu- NIL (Name, Image, and Likeness) contract at the University of Texas. Here is her take on similarities between NIL contract and commercial real estate contract negotiaitons.

🎉 Excited and Honored to Win the "Queen of East Austin” Award! 🎉

I'm absolutely thrilled to share that I've been selected as the recipient of the Economic and Community Improvement 2023 Award by CREW Austin. This award holds a special place in my heart as it recognizes the incredible journey I've had in East Austin over the past 23 years.