Real estate firm buys former Cypress Semiconductor campus in Round Rock, plans mixed-use development

Feb 12, 2014
Austin American Statesman

Austin-based real estate firm World Class Capital Group said Tuesday it has purchased the former Cypress Semiconductor campus in Round Rock, with plans to transform it into a development with shops, housing and office and industrial space

The campus is on 118 acres behind the IKEA retail development at Interstate 35 North and University Drive

The seller was Cypress Semiconductor Corp., which closed the facility in 2009. The campus was home to Cypress Semiconductor’s chip manufacturing plant, which was the first significant technology expansion in the Round Rock area when it opened in 1986

World Class Capital Group told the American-Statesman that the first phase of the redevelopment will involve renovating and leasing the existing 98,700-square foot former semiconductor plant for office and industrial space. The first phase will encompass 7.8 acres

The campus has more than 250 parking spaces. Paul said the company is currently working on a master plan for the entire tract “to ensure we maximize the value of the asset as well as engage the city on the best plan for the site.” The project will be developed in phases over the next several years

World Class Capital Group, a privately owned real estate investment, development and management firm, has purchased several high-profile sites and buildings in Austin in the past few years. They include land next to the Four Seasons Hotel and Residences along Lady Bird Lake, as well as buildings that once housed Katz’s Deli, La Zona Rosa, the Melting Pot, Hard Rock Café and Spaghetti Warehouse

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