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Hamilton Zanze Picks Up Austin Asset No. 4

28 Feb 2015, 12:00 am

By Anca Gagiuc, Associate Editor

Over the past 12 months, Hamilton Zanze has invested nearly $300 million in 15 multifamily assets in the West and Southwest. In Austin, the San Francisco-based company is continuing its expansion with the acquisition of Bradford Pointe, a 264-unit complex in North Central Austin and Hamilton Zanze’s fourth asset in the local market.

Completed in 1984, Bradford Pointe is a Class B community located at 11701 Metric Blvd. That places it about two miles east of The Domain, the upscale regional retail center; less than five miles from local Apple and IBM offices; and ten miles from Google and Samsung.

Bradford Pointe offers one- and two-bedroom units featuring fireplaces, private balconies, patios and air conditioning. Community amenities include a clubhouse, fitness center, laundry facilities, swimming pool, spa, iMac computer lab, and a nearby park and dog park.

Hamilton Zanze plans a $1.9 million upgrade for Bradford Pointe and has brought in Mission Rock Residential as the new property manager.

Photos courtesy of Bradford Pointe Apartments.

North America’s Largest JW Marriott Opens Its Doors

22 Feb 2015, 7:08 pm

By Anca Gagiuc, Associate Editor

Two and a half years after breaking ground, the largest JW Marriott hotel in North America and the second-largest in the world has opened its doors in Austin.

Located between Second and Third Streets and Brazos Street and Congress Avenue, the hotel is walking distance from the Austin Convention Center, the Texas State Capitol, the Ann & Roy Butler Hike and Bike Trail on Lady Bird Lake. The 1,012-key property rises 34 stories and is serviced by approximately 800 associates.

Additionally, the JW Marriott features more than 112,000 square feet of event space and 42 meeting rooms. The hotel has earned two stars from the Austin Energy Green Building and LEED Silver certification from the U.S Green Building Council.

All guest rooms and suites include 48-inch high-definition LED Smart TVs, high-speed internet access and a Texas-themed interior design. Other amenities feature 24-hour room service, state-of-the-art fitness center and 24-hour full-service business center. On the fifth floor, the hotel offers a pool deck and bar.

The JW Marriott Austin offers a choice of three restaurants: Osteria Pronto, a regional Italian restaurant; Corner, a dining destination featuring Texas-inspired cuisine; and Burger Bar, a walk-up, food truck-style window for guests looking for a quick (but indulgent) bite.

More than 520,000 room nights have been contracted through 2021 and several large meetings and conventions have already chosen JW Marriott as venue for their events.

Photos JW Marriott Austin

Pioneering Property Changes Hands in Central Austin

14 Feb 2015, 7:37 pm

By Anca Gagiuc, Associate Editor

Austin’s first transit-oriented mixed-use development is under new ownership. On Feb. 11th, MIG Real Estate L.L.C. announced its acquisition of Midtown Commons at Crestview Station. The asset is the fourth in the city and eighth in Texas for Newport Beach, Calif.-based MIG.

Completed in 2009 by Trammel Crow Co., Midtown Commons encompasses 562 multifamily units and 58,883 square feet of commercial space in Central Austin. Located adjacent to the Crestview MetroRail Station at 810 W. St. John’s Ave., the complex consists of five buildings of two, three, and four stories, plus three parking structures.

The residential portion offers studio, one- and two-bedroom units featuring stainless steel appliances, granite countertops, and faux wood flooring. Community amenities include two resort-style swimming pools, pool courtyards with fire pits and outdoor kitchens, two fitness centers, a yoga studio, a dog park, community vegetable/herb garden. The complex’s clubhouse has a business center, pool table and kitchen for entertaining.

Midtown Commons’ commercial component comprises a pair of two-story buildings with office and ground-floor retail. The retail space is leased to tenants such as Midtown Grocery & Café, Black Star Co-op Pub & Brewery, Fuzzy’s Tacos, Subway, Modo Yoga, and Fat Cat Desserts.

MIG Real Estate was represented by Charles Cirar, Ryan Reid, Michael Wardlaw, and Colin Cannata of CBRE Group Inc. Alliance Residential will manage the residential component, CBRE will manage the office/retail portion and lease the office space, and Stream Realty will lease the retail.


HID’s New, Green HQ Reaches Milestone

7 Feb 2015, 1:08 am

By Anca Gagiuc, Associate Editor

A year after opening its $35 million facility in North Austin, HID Global Corp. has completed the consolidation of its corporate headquarters and North American operations hub at the facility, the company announced on Feb. 4.

HID provides products and services for identity protection at the 250,000-square-foot office, manufacturing and warehouse facility, which occupies a 22-acre site in Tech Ridge.

HID’s headquarters has earned multiple distinctions since its debut in January 2014,. It is the only industrial manufacturing facility in Texas to receive LEED Platinum certification. Austin Energy’s Green Building program, which focuses on the city’s more stringent water, energy, and indoor environmental quality requirements, awarded the property four out of five stars. And the Austin Business Journal named the facility one of the city’s best new buildings.

In a statement, HID said that it expects the facility “the cornerstone for manufacturing government ID credentials that will be shipped across the globe.” In the next 12 to 18 months the company plans to pursue additional security certifications for its operation. HID has hired 310 employees since the facility opened.

Crimson, USAA Realco Break Ground on Project in Northwest Austin

2 Feb 2015, 6:15 pm

By Anca Gagiuc, Associate Editor

A partnership of Crimson Real Estate and USAA Real Estate Co. recently broke ground on a Class A office building in northwest Austin. The development, Aspen Lake Two, will total 129,000 rentable square feet and will be located at the intersection of Lake Creek Parkway and Pecan Boulevard.

The property is 54 percent pre-leased to Austin-based Q2ebanking, a company that provides electronic banking services for banks and unions throughout the United States.

Houston-based Patrinely Group is the project’s developer, while Harvey Builders is serving as general contractor. Gensler is the project architect. AQUILLA Commercial L.L.C. is providing leasing services under the guidance of Crimson Services L.L.C., an affiliate of Patrinely; they will also provide property management services.

“The office building offers up to 59,000 rentable square feet on the first and second floors with expansion options in Aspen Lake Three, the next development phase, which is a sister building of Aspen Lake Two,” stated Ben Tolson, Principal with AQUILA Commercial. Completion of Aspen Lake Two is scheduled for this fall.

Photo courtesy of USAA Real Estate Company’s Facebook Page.

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