Mar 13

Ultimate Guide to Austin’s Best Food Trucks!

foodtrucks

Across the nation food trucks are playing a role in multi-million dollar commercial real estate investments. Austin has over 1,000 food trucks operating daily and space is becoming harder and harder to find. Rent can range from $500 to $1,500 a month per truck and many lots have waiting lists. This presents a great opportunity for commercial property owners to open up some of their vacant land or lots to food truck owners.

Austin is a foodies dream and it’s world famous food trucks are not to be missed.  When you find yourself on the hunt for some amazing food, track down one of these local food trucks and you can thank me later:

  • Micklethwait Craft Meats
    1309 Rosewood Avenue Austin, TX 78702
    You’re in Texas, so you need some great BBQ and this is hands down some of the best barbecue you could have and yes, it’s out of a food truck.
  • Biscuits and Groovy
    5015 Duval Street Austin, TX 78751
    If it’s breakfast you are searching for you’ll find it  this disco-themed truck serving biscuits and gravy. The Gloria Gaynor is an indulgent dish of fluffy biscuits smothered in white gravy, sausage, bacon, melted cheese, and scallions. There are several options for vegans and vegetarians, too!
  • Garbo’s Lobster Truck
    Check the website for daily location of their trucks.
    This is the best lobster roll outside of Maine.  If you want your lobster chilled, go with the classic “Maine Style,”  lobster + mayo + roll.  Want it warm? Choose “CT style,” replacing the mayo with drawn butter.
  • Way South Philly
    East 6th & Waller St, Austin TX
    Dishing out authentic philly cheesesteaks, italian sausage & tots served fresh from “The Little Red Trailer.” You will be hard pressed to find a better sandwich around town!
  • Turf N Surf Po’ Boy
    4th and Congress, Austin, TX
    Cravin’ some Cajun? This is the place for you.  They serve local fresh food and specialize in seafood, beef, pork, and veggies.

 Now that you’re hooked on the best food trucks in town, how about investing in some commercial real estate in Austin? If you’re interested please e-mail me at bkastle@kastleman.com!

May 15

Smaller Deals Gaining Big Momentum

According to the most recent Co-Star Commercial Repeat Sale Indices (CCRSI) that was published last month (April 2014) we are seeing the pricing for low-end properties gaining momentum. In fact smaller commercial real estate deals in secondary and tertiary markets saw their strongest annual gain this past February with a 15.7% jump. It appears both large and small investors alike are shifting their focus to lower quality, smaller commercial properties in non-prime markets.

 Although slight, the recent upswing of the economy might be the culprit in the low-end pricing momentum. Simply put, job creation is finally filling all those commercial vacancies we’ve been staring at for the past year or so.  These smaller markets are still feeling the pressure credit-wise; that combined with the rising rent trend makes now a good time for investors without credit barriers to invest in multi-family properties.

 One has to wonder though, the impact that having a few large investors buy up an entire smaller market will have. Back in 2012 we saw a similar trend in Southern California and in Nevada. Hedge fund investors owned at one time in Las Vegas 25% of all their real estate. While this tactic manipulated the market to report a peak, it didn’t last long. Writer Gary Anderson warns that such situations can “ruin” the real estate market in the long run, and that it is actually middle-class investors who can best compete in the multi-family housing market.

At Kastleman & Associates we happen to specialize in buying multi-family properties, mobile home and RV parks, and vacation rental properties throughout Texas. If you are a seller or broker and would like to discuss a potential property acquisition please contact me at bkastle@kastleman.com.commercial real estate blog bryan kastleman