Two new office buildings bound for Rollingwood

Feb 17, 2014
Austin American Statesman

Construction is due to start next week on two buildings in Rollingwood, marking the largest office project to break ground near downtown since the recession as Austin area’s office market continues on a healthy run


The new office buildings — one a four-story structure with 155,000 square feet and the other a two-story building with 60,000 square feet — will be part of Rollingwood Center, said Bryce Miller, a founder and managing principal with the developer, Austin-based Endeavor Real Estate Group


The project is planned for a hilltop on the north side of Bee Cave Road in the city of Rollingwood, just west of Zilker Park and minutes from downtown Austin. The project’s cost will be about $50 million, with the buildings scheduled to be ready in early 2015. A third building is expected to eventually be added to the complex, which is currently home to a BB&T branch


LatinWorks, an award-winning Austin advertising agency, will initially lease 50,000 square feet in the smaller building, but expects to occupy the entire building as it continues to grow, said Manny Flores, the company’s CEO. The agency’s 175-plus employees now work downtown in about 35,000 square feet in Capitol Tower building on East Ninth Street. They will move to Rollingwood Center next May or June, Flores said


In the larger building, Heritage Title Company of Austin Inc. will be a tenant, occupying about 9,000 square feet. Heritage Title will relocate its residential closing office from nearby Barton Oaks to the new building, which will “provide a best-in-class experience for our clients and our employees,” said Heritage Title president Gary Farmer


The new buildings will be among several office projects, both downtown and in suburban locations, to break ground in the past year. Central Texas’ job growth has spurred demand for office space, raising overall rents, occupancies and investor interest in the region’s office market


Office demand is especially high in southwest Austin, which over time has outperformed other areas of town, Miller said. With its more environmentally sensitive land in the Edwards Aquifer area, southwestern Austin faces stricter development and water-quality regulations


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