AUSTIN | Third + Shoal | 389 FEET | 29 FLOORS | U/C | Complete - Page 18

The ATX · #**341** Posted **Mar 6, 2017, 9:08 PM**

The second crane is scheduled to go up later this month:

https://abc.austintexas.gov/web/perm...rtyrsn=2018828

KevinFromTexas · #**342** Posted **Mar 17, 2017, 11:05 PM**

Time lapse via their Facebook page:

https://www.facebook.com/cieloproper...1474607343765/

The ATX · #**343** Posted **Mar 24, 2017, 10:27 PM**

The second crane should have started going up today - unless their was a weather delay.

The ATX · #**344** Posted **Mar 27, 2017, 11:31 PM**

The second crane is up.

Urbannizer · #**345** Posted **Apr 7, 2017, 1:36 AM**

Third + Shoal by Darius Fontenette, on Flickr

Urbannizer · #**346** Posted **Apr 18, 2017, 6:07 PM**

Third + Shoal by Darius Fontenette, on Flickr

loonytoony · #**347** Posted **May 1, 2017, 2:11 PM**

Rumor has it this project has been completely leased by a single tenant.

tie_guy · #**348** Posted **May 1, 2017, 3:15 PM**

From yesterday

drummer · #**349** Posted **May 1, 2017, 10:52 PM**

Quote:

Originally Posted by loonytoony

Rumor has it this project has been completely leased by a single tenant.

Great rumor, indeed. Anyone know anything about this?

lzppjb · #**350** Posted **May 1, 2017, 10:57 PM**

It's me. I needed extra room for my Hot Wheels collection.

The ATX · #**351** Posted **May 1, 2017, 11:43 PM**

CBRE is still showing lots of space for rent:

http://looplink.natl.cbre.us/xNet/Lo...RID=9174413865

the Genral · #**352** Posted **May 2, 2017, 1:05 AM**

So at $36 sq ft X 24006 sq ft / year, that will run you $846,216, or $2318.40 per day. Is that high or low for downtown office space??
And lzppjb, that seems to be too bizarre of a collection for you to mention to not be true, so what are you, 11...12 years old??

OKTX · #**353** Posted **May 2, 2017, 1:21 AM**

$36 NNN is about right for downtown class A. But operating expenses are about $20-25/ft because of our insane property taxes so they are paying closer to $56-$61/ft gross.

drummer · #**354** Posted **May 2, 2017, 2:03 AM**

Quote:

Originally Posted by the Genral

So at $36 sq ft X 24006 sq ft / year, that will run you $846,216, or $2318.40 per day. Is that high or low for downtown office space??
And lzppjb, that seems to be too bizarre of a collection for you to mention to not be true, so what are you, 11...12 years old??

If he needs that much space, he probably started around that age with Matchbox cars back in the day, moved onto Hot Wheels in the 80s and 90s, and is still going strong with new purchases...

To be honest, I think you might need more space, lzppjb. The really rare ones will require their own display cases and lighting, and therefore will take up more room. Do you think you could take the remaining space in the eventual Texas Music History Museum building? We are talking about creating a museum district after all. I'd take my boy to see your collection when we're in Austin next.

lzppjb · #**355** Posted **May 2, 2017, 3:22 AM**

the Genral · #**356** Posted **May 2, 2017, 3:54 AM**

Quote:

Originally Posted by OKTX

$36 NNN is about right for downtown class A. But operating expenses are about $20-25/ft because of our insane property taxes so they are paying closer to $56-$61/ft gross.

I'm assuming operating costs are utilities and perhaps maintenance fees, then you have payroll, advertising, and because you might go broke in the meantime, furniture rental because you'll just want to give that back when you go under.

GoldenBoot · #**357** Posted **May 2, 2017, 5:03 PM**

Quote:

Originally Posted by OKTX

$36 NNN is about right for downtown class A. But operating expenses are about $20-25/ft because of our insane property taxes so they are paying closer to $56-$61/ft gross.

I do not believe you are correct. $36/SF "NNN" means base rent plus the tenants proportionate share of operating experiences (usually including property taxes, insurance, maintenance, etc.) Office leases are not usually "gross leases" (similar to renting an apartment).

OKTX · #**358** Posted **May 2, 2017, 5:47 PM**

The $36 doesn't include OpEx. Its a NNN lease, but converted to full service gross, they are paying close to $60/ft. It's not quoted as FSG, but any NNN lease can be converted to FSG, or an all-in rate. The landlord pays all of the operating expenses and then kicks it back to the tenants.

OKTX · #**359** Posted **May 2, 2017, 5:50 PM**

Quote:

Originally Posted by GoldenBoot

I do not believe you are correct. $36/SF "NNN" means base rent plus the tenants proportionate share of operating experiences (usually including property taxes, insurance, maintenance, etc.) Office leases are not usually "gross leases" (similar to renting an apartment).

The $36 doesn't include OpEx. Its a NNN lease, but converted to full service gross, they are paying close to $60/ft. It's not quoted as FSG, but any NNN lease can be converted to FSG, or an all-in rate. The landlord pays all of the operating expenses and then kicks it back to the tenants.

Sorry for the double post - Can't figure out how to delete the previous.

GoldenBoot · #**360** Posted **May 2, 2017, 6:21 PM**

Quote:

Originally Posted by OKTX

The $36 doesn't include OpEx. Its a NNN lease, but converted to full service gross, they are paying close to $60/ft. It's not quoted as FSG, but any NNN lease can be converted to FSG, or an all-in rate. The landlord pays all of the operating expenses and then kicks it back to the tenants.

Sorry...I misread your original post. I'm traveling and it is sometimes hard to read on my phone. You are correct.