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AQUILA Commercial LLC (Leasing and Project Management) and PV Four Points LLC /PacVentures Inc. (Ownership) announced today the final completion of the Preserve at 620 – a 223,000 Class A creative office adaptive reuse project in Northwest Austin.
The property, which was originally built as a Super Walmart in 2006, is located next to the Balcones Canyonlands Preserve near the intersection of Hwy 620 and FM 2222. While there have been big box retail conversions to other uses throughout the country, this is the first Super Walmart conversion to Class A creative office according to Joe Simmons who works with AQUILA and is also partner with the building ownership.
Simmons initially envisioned the office concept while touring the Walmart property when it was being marketed for sale, “With high ceilings, tremendous parking, a large open floor plate that could be divided, tons of natural light from 100+ skylights and a strong demographic location, it dawned on me that these were the very attributes being sought by large tenants in the Austin Metro.”
The other partners agreed and hired Nelsen Partners Architects to push the boundaries of design in order to transform the traditional big box into a modern workplace environment emphasizing functionality and aesthetics.
“We wanted Nelsen to employ a modern aesthetic and capitalize on the beautiful setting where the property is located,” says Ben Tolson, who also works with AQUILA and is leasing the project.
Nelsen, along with the contractor S. Watts Group, achieved this goal in a number of ways including adding indoor/outdoor courtyards which open into tenant spaces, designing a two-story component on the back of the building to overlook the gorgeous Balcones Preserve, devising a state of the art fitness center with operable glass overhead doors opening to activity areas, creating dramatic entrances with a wall of glass and enveloping the building with perforated panels that are lit at night.
The feedback received from brokers and prospective tenants who have toured the renovation has been outstanding.
“Unless you knew this was once a Walmart, most people are completely shocked to find out this building served as anything other than modern office space,” Tolson says.
Two tenants, IAS (Innovative Aftermarket Systems) and Corning Inc., have already signed leases and moved in upon base building delivery which occurred in January 2019.
“I think the project turned out fantastic but it really doesn’t matter what I believe—what matters is what our tenants think and they have expressed on more than one occasion how impressed they are with the look and feel of the project,” states Simmons.
This is not surprising to Tolson who also handles several nearby projects.
“Large tenants that have located in the area such as SailPoint, Zenoss and Big Commerce have all expressed their satisfaction with the natural beauty and dynamic lifestyle that exists at the heart of our location.”
Preserve at 620 has 130,000 square feet remaining and available for lease. The 39-acre parcel allows for possible future tenant expansions through additional buildings on site.
PacVentures, Inc. is a commercial real estate investment firm based in San Diego, California. The company specializes in the acquisition and development of industrial, retail, and office properties located in the Southwestern United States. Privately owned, PacVentures focuses on value enhancing opportunities with significant principal involvement. Our extensive knowledge and experience allows us to quickly identify and decisively act upon acquisition, leasing, development, and disposition opportunities.
Nelsen Partners is an international architecture, planning and interiors firm with offices in Austin and Phoenix. The focus of the firm’s work includes commercial mixed-use developments, office buildings, hotels, retail, multifamily residential, and adaptive reuse. Founded in 1990, the 80-person firm has completed and current projects throughout the US, Hawaii, Australia, Morocco and Dubai.
Watts Group is a full service commercial construction firm located in Austin Texas. At S. Watts Group, each job begins with clear communication, strategic planning and clear communication.
Founded in 2007, AQUILA Commercial is a recognized leader in Austin commercial real estate. Today AQUILA manages and leases over 10 million square feet of office, industrial and retail properties and has over 550 corporate tenant representation clients. AQUILA offers clients full service real estate solutions, providing tenant representation, project leasing and asset, property and project management services for office, industrial and retail properties. For more information, visit: www.aquilacommercial.com.