Stonemont Financial to Develop 230,000 SF Spec Industrial Project in Metro Austin
REBusiness – 3/28/2022
Atlanta-based Stonemont Financial Group has acquired an 18-acre site just off Interstate 35 in the northern Austin suburb of Georgetown for the development of a 230,000-square-foot speculative industrial project. Westinghouse35 will feature a rear-load configuration, 32-foot clear heights and 58 dock doors, as well as up to 345 auto parking stalls and 68 full-size trailer parking stalls. Completion is slated for the first half of 2023.
Facebook’s Parent Company To Build Sprawling Texas Data Center To Support Its Metaverse Initiative
CoStar – 3/31/2022
Meta, the Silicon Valley-based parent company of Facebook, is planning to locate its newest data center campus in Central Texas as part of its aggressive expansion to build out its digital networks to support its metaverse virtual reality initiative.
The company said construction on the 900,000-sq. ft. hyperscale data center on 393 acres in Temple will start in the next few weeks. Hyperscale data centers are part of California-based Meta’s larger strategy to boost its network of 3D interactive systems.
Tech Firm Applied Materials Considers Hutto For $2.4 Billion Facility, Hundreds Of Jobs
Austin American Statesman – 4/1/2022
Technology company Applied Materials is considering a site in Hutto for a new $2.4 billion research and development facility that could employ hundreds of people and mark another big addition to the booming Central Texas high-tech sector. During a meeting, board members of the Hutto Independent School District voted to formally consider an application from the company for tax breaks for the project.
Buda Hopes To Use $1.6M In Federal Funding To Create New Commercial Corridor, Add Primary Jobs
ABJ – 3/28/2022
A suburb south of Austin is using federal funds on critical infrastructure as part of an effort to build a new commercial corridor in the heart of the city. U.S. Rep. Lloyd Doggett announced he had secured $1.6 million in federal appropriations from the omnibus appropriations bill that is expected to be used to expand the city of Buda’s sewer system and create an important commercial artery in the city along the expanded Robert S. Light Blvd.
TikTok’s Downtown Office Lease in Austin, Texas, Is Now Official
CoStar – 3/29/2022
The Austin, Texas, office market continues to be an attractive destination for international and national tech companies alike with TikTok officially signing a lease in the Texas capital. The video-based social media platform will take up the top six floors of 300 Colorado in downtown Austin, for a little more than 150,000 square feet, according to multiple sources who were familiar with the transaction.
Polaris Buys Balcones Club Apartments in Northwest Austin
CoStar – 4/1/2022
Polaris Real Estate Partners has acquired the Balcones Club Apartments in Austin, Texas from the Presidium Group. The investment firm out of San Francisco paid an undisclosed amount for the 312-unit property at 9218 Balcones Club Drive, just off Research Boulevard and Highway 183.
Castletop Capital & Trammell Crow Co. Have Announced The Completion of Korina At The Grove in Austin
Connect Media – 3/31/2022
The final phase of Korina at the Grove, a multifamily complex in the mixed use, master planned community, The Grove, is completed. Korina at the Grove features 373 units available for lease. The Grove is a 450,000-square-foot mixed-use community consisting of multiple multifamily buildings, parks, luxury amenities, dining and entertainment.
Work Starts On Pflugerville Apartment Community
Recon – 3/29/2022
Cadence McShane has broken ground on Edenbrook Ridge Apartments, a 444,370-sf multifamily community at 330 Wells Branch Pkwy. The 13-building property will have 338 one- to three-bedroom units, a pool, fitness center, theater room, yoga studio, game room, and pet spa. Construction will be complete in summer 2023.
Silverstone Buys Value-Add Apartments in Austin as Part of $100 Million Investment Goal
CoStar – 4/1/2022
A new investment platform that is targeting $100 million in multifamily acquisitions over the next two years has closed on a value-add property in Austin. Toronto-based investment platform Silverstone Partners acquired SeventyTwo 27 Apartments, a 160-unit property built in 1984 at 7227 Highway 290 E in Austin’s Windsor Park neighborhood. The acquisition aligns with Silverstone’s goal to acquire multifamily properties with upside potential in high-growth U.S. markets.
Tricentis Signs 42,019 SF Office Lease at Uplands Corporate Center in North Austin
REBusiness – 3/28/2022
Tricentis, a provider of automated software testing services, has signed a 42,019-square-foot office lease at Uplands Corporate Center, a recently expanded office campus in North Austin. Russell Young of JLL represented the tenant, which plans to hire about 100 new employees, in the lease negotiations. Kevin Granger and Matt Frizzell of Cushman & Wakefield represented the landlord, Drawbridge Realty.