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It is a new year and we’re off to a busy start. With 2017 in the rearview mirror, we are looking forward to another dynamic year for Austin in 2018. Having
completed over 200 projects in 2017, our team is coming off a record year in terms of the value of assignments we were involved with across Austin and the
The stats don’t lie. Austin remains a top performing market that continues to be ranked on many investment lists. According to the Emerging Trends in Real
Estate, one of the oldest, most highly regarded industry outlooks for the real estate markets published by PriceWaterhouseCoopers, Austin is #2 in the country
for top markets to watch in 2018.
The outlook for all property sectors is positive, including multifamily and single family residential based on population growth projections. A recent demand
study performed by HCP indicates demand for over three million square feet of offi ce space based on projected population growth over the next four years.
The local economy has no shortage of investor interest or available capital for well positioned deals. Population growth is projected at 2.8% in 2018, well above
the U.S. average and Austin expects to add 42,000 residents a year over the next fi ve years.
Austin is one of the top ranked ‘Green’ cities, and has a growing and vibrant culinary scene with one micro-brewery per 38,000 residents. We love our craft
beer! But tacos and tequila still hold a place in our hearts and this trend is destined to remain for the foreseeable future. But don’t forget our beloved local and
world renowned vodka, Tito’s.
The technology sector continues to growth with many of the world’s largest tech fi rms expanding their presence in Central Texas. Oracle, Google, Apple,
Samsung, GM and Facebook continue to grow as evidenced by the large amount of space committed by these companies in 2017. The city continues to evolve
and older underutilized sites all hold promise for new development activity which is a trend that is likely going to continue in the coming years given that
population growth will continue to drive demand across all property sectors.
We have included a new section of our overview that highlights a few noteworthy development deals. We hope you fi nd this information helpful and we
welcome any questions you may have!
-The HCP Team