Another Northwest Austin office building worth $44M breaks ground

Oct 20, 2014
Austin Business Journal

Office development in Austin continues at a torrid pace with Cousins Properties (NYSE: CUZ) announcing that it will break ground in November on the final installment at Research Park Plaza

Research Park V, at 12301 Research Blvd., will be delivered in 11 months, according to Tim Hendricks, senior vice president of Cousins Properties. The building will encompass 173,000 square 

feet and cost about $44 million

DCA Construction LP is the contractor and STG Design is the architect. Both were involved with the development of the other buildings at Research Park, which began delivering space in 1995. 

The four existing buildings are owned by two large investment groups

Cousins also is building Colorado Tower at 303 Colorado St. in downtown Austin, which will begin delivering space in December. The company under Hendricks' direction built the iconic Frost 

Bank Tower at 401 Congress Ave

Spear Street Capital LLC in San Francisco owns Research Park Plaza I and II. Union Investment Group in Frankfurt, Germany owns Research Park Plaza III and IV

Currently, Charles Schwab Corp. is a major tenant at Research Park Plaza. That company will be relocating to new corporate headquarters in 2016. Schwab's departure should have no impact on 

Cousin's development and leasing of Research Park V

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