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A joint venture among Patrinely Group and USAA Real Estate today announced a lease with Q2 Holdings, Inc. to take the entirety of the Aspen Lake Three office development. Located at 10355 Pecan Park Boulevard, Austin, TX 78729, Aspen Lake Three will total 128,990-square-feet of Class A office space when fully developed.
“We are pleased to announce that our long-term relationship with Q2 has resulted in another lease for the company’s operations,” said Robert Fields, president and CEO of Patrinely Group.
In 2011, Patrinely Group and USAA Real Estate acquired a Class A, vacant 205,000-square-foot office building and two adjoining land parcels in northwest Austin. After leasing the building, Aspen Lake One, to full occupancy, including a lease to Q2, Patrinely Group subsequently developed Aspen Lake Two for Q2 in 2015. Located in the burgeoning North Austin tech hub and near Apple’s new campus, Q2’s multi-building occupancy in Aspen Lake One, Aspen Lake Two and Aspen Lake Three is designed to function together and provide a high-tech corporate campus environment for the digital banking company.
“We’re excited to be expanding into a new location allowing for continued growth and maintaining the kind of environment we feel is vital to the success of our company,” said Q2 CEO, Matt Flake.
Set to begin construction in the Spring of 2020, Aspen Lake Three will be a four-story, LEED certified office building with large floor plates designed to facilitate efficient and flexible space planning, ample parking and a rich landscape for a park-like environment. This build to suit development will also feature tremendous access and visibility in northwest Austin’s growth corridor as well as convenient amenities including Lakeline Mall and the 1890 Ranch Shopping Center. Neighboring corporations include IBM, Apple, VISA, and others.
JLL’s Will Douglas, Russell Young and Harrison Schuhmacher represented the tenant. Ben Tolson with AQUILA Commercial represented the landlord, under the direction of Patrinely Group’s Dennis Tarro.
Patrinely Group is a national real estate investment, development and management firm focused on large scale, Class A mixed-use, office and multifamily properties in major markets. Recognized as a leader in real estate development since 1983, Patrinely Group has completed $10 billion in transactions and is experienced with all real estate asset classes. For more information, visit www.patrinelygroup.com.
The mission of USAA Real Estate is to strengthen the profitability and diversity of the USAA investment portfolio and those of its investor clients by acquiring, developing, financing and managing quality real estate investments. The portfolio consists of office, industrial/logistics, multifamily, retail and hotel properties. Visit www.usrealco.com for more information.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
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.