For more than a year, United Properties has been exploring a possible expansion into a new market. Today we are excited to announce that we are opening operations in Austin, Texas. This will be the third operating location in our 104-year history.
According to Bill Katter, president and chief investment officer, the company has been studying the Austin market very carefully. Leadership has been impressed by its growth trajectory and how it has responded to both market expansions and downturns alike.
“We also like the diversity and growth opportunities Austin provides to complement our existing Minneapolis and Denver markets, where we’ve been very successful,” Katter says. “We like the strong tech hub, the culture and the people, whom we’ve gotten to know. We are very excited to get going in Austin.”
Josh Delk will lead the new office as senior vice president of Austin commercial development. Delk most recently served as a regional partner with Transwestern for 13 years. “I did a lot of my own research on United Properties and its owners and believe they have a lot in common with Austin — they are entrepreneurial, trustworthy and community-focused,” he says.
Delk holds an MBA from the University of Texas at Austin’s McCombs School of Business and a Bachelor of Science degree in accounting from Auburn University in Alabama. Delk says that he’s like many people in the area: he came to school at the University of Texas at Austin and never left. He has been living in the Austin area for the last 19 years, noting its unique atmosphere as a selling point. Delk says, “The only way to not be cool in Austin is to not ‘be cool.’”
Delk and Katter are currently looking for an office location — likely in the greater downtown area — and expect to announce the location within the next several months. The office is expected to grow as the market rebounds, and “I would not be surprised if this office looks a lot like our Denver office in the near future,” adds Katter.
“Our plan is to build a presence here in Austin and become a market leader across several different product types,” Delk says. United Properties brings expertise in industrial, office, mixed-use and senior housing; Delk has experience in many of these areas plus a strong multi-family residential background. “We believe that there is immediate opportunity in the industrial segment, and we expect that the residential market will rebound quickly after the current COVID-19 crisis is past us, given the influx of people moving into Austin,” he says.
Learn more about Josh Delk and his take on the commercial real estate market in the New York Times article, “‘Coolness Factor’ Draws Developers to East Austin, Texas”.
Welcome to the United Properties team, Josh! We are looking forward to creating deep roots in Austin.