Cypress Real Estate Advisors (Cypress), a national development and advisory firm, and Greenbelt Commercial, LLC (Greenbelt), an Austin based real estate developer, today announced an agreement to develop Eastlake at Tillery, a 162,000-SF Class A office project in the emerging East Austin office submarket.
Eastlake at Tillery will be comprised of two three-story buildings – approximately 78,000 and 84,000 square feet respectively – and an above ground structured parking garage serving both buildings.
The development will be located at 3212 East Cesar Chavez Street, just east of Tillery Street at the heart of Austin’s trendy Eastside. The project will sit directly behind popular East Austin restaurant Grizzelda’s and is a short walk from a number of the city’s top restaurants and bars, including Jacoby’s, Tillery Kitchen, Justine’s, Lustre Pearl, The Brewer’s Table and more.
The site is less than two miles from downtown Austin and within five miles of Austin-Bergstrom International Airport.
“I am thrilled to partner with Cypress on this project that will bring another high-quality, creative office development to East Austin,” says Victor Young, owner of Greenbelt. “We believe that Eastlake at Tillery will be attractive to any tenant seeking a location that is convenient to downtown, the airport and all of the amenities located in the riverfront district and East Austin.”
“Cypress has a long history of owning, developing and managing projects in East Austin,” says John Burnham, managing principal at Cypress. “We look forward to furthering that track record with the pending development of Eastlake at Tillery.”
Cypress and Greenbelt anticipate that the two-building campus will break ground in the fall of 2019 with completion scheduled for 2020. The project is being designed by Bart Whatley with Delineate Studios.
“We are seeing so much demand for office space on the east side because of its authentic Austin feel. Eastlake at Tillery provides tenants with scale, visibility and walkability to some of the Eastside’s coolest spots – restaurants and bars like Sawyer & Co, Grizzelda’s, Tillery and Lustre Pearl. But its location is strategic too. The connectivity afforded by Cesar Chavez, Pleasant Valley and US-183 puts you minutes from other key parts of town and the airport,” says Bethany Perez, Principal with AQUILA Commercial.
Founded in 2007, AQUILA Commercial is a recognized leader in Austin commercial real estate. Today AQUILA manages and leases over 8 million square feet of office, industrial and retail properties and has over 450 corporate tenant representation clients. AQUILA offers clients fullservice 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.