AQUILA Commercial today announced ARMS Reliability Engineers has signed a ten year, 5,021-square foot lease at 1901 Capital Parkway in Austin, Texas. ARMS Reliability Engineers is a global provider of reliability engineering to companies fixed plant, rotating equipment, mobile fleets, power supplies and other infrastructure assets.
Todd Gilfillan and Michael Bullard of CBRE represented ARMS Reliability Engineers, and Bethany Perez, Joe Simmons and Seth Stuart with AQUILA Commercial represented the landlord.
1901 Capital Parkway, formerly the EZ Corp Building, was acquired by Heiser Development Corporation in 2001. The Heiser Development Corporation is a family owned company with deep real estate roots that date back to 1911 with William Bradfield, a founder of Southern Methodist University. Over the years, the Heiser family has been known for developing North and South Mopac as well as Barton Skyway, Barton Oaks Plaza and Spyglass. Most recently, their vision was to completely renovate 1901 Capital Parkway building located on South Mopac and Barton Skyway, an area that is all too familiar to them. They knew they had a prime piece of real estate with excellent visibility from Mopac and close proximity to downtown. All it needed was an overhaul with a modern, creative flare.
Exterior building renovations consisted of an overhaul of the building’s façade, repaving of the parking lot and improvements to the roof. Improvements also include zero-scaping and the addition of two water cisterns to collect rain water that, when full, will provide enough water for the building for two months. Interior renovations include a brand-new lobby with wood and slate finishes, custom light fixtures, water features and a grand stair case that leads to the 2nd floor. The common area restrooms were also updated, and the tenant space has been demoed so it’s a blank slate for new tenants to create their own vision.
“I was really impressed with how the renovations turned out,” said Bethany Perez, AQUILA Principal and leasing broker for the property. “The finishes are upscale and the building shows really well. If a company is looking for close proximity to downtown without paying downtown rates, this is a great option. Plus, the signage opportunity with over 180,000 vehicles per day makes the building truly unique.”
The property is now 25% leased, with just over 19,000 square feet still available. The owners are also considering purchase options.
Founded in 2007, AQUILA Commercial is a recognized leader in Austin commercial real estate. Today AQUILA manages and leases over 23 million square feet of office, industrial and retail properties and has over 600 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.
