Koontz McCombs Sells Encino Trace Office Park to Brandywine Realty Trust
- May 31, 2014
Brandywine Realty Trust purchased Encino Trace, the office park project located at 5707 Southwest Parkway in southwest Austin, from San Antonio-based developer Koontz McCombs. Details about the transaction remain undisclosed.
The office campus spans more than 54 acres, set to include 320,000 square feet of Class A office space. It will also include a parking garage, an on-site fitness center, a basketball court, a multi-purpose sports field, as well as expansive outdoor amenities such as a 1.5 mile hiking and running trail. To minimize environmental impact, the development will cover less than eight acres, with the buildings designed to achieve a three-star rating from Austin Energy’s Green Building Program. Construction work has already begun, with Koontz McCombs Construction as general contractor.
“Encino Trace meets our definition of what premier office space should be for the kind of clients we enjoy serving,” said Gerard Sweeney, president & CEO of Brandywine Realty Trust, in a news release. “It’s a good example of how thoughtful design can enhance the interior work experience and respect the surrounding environment. That’s a standard we seek in all our projects, and it fits perfectly with Austin’s active lifestyle culture.”
The first tenant to sign a lease for the new building is ARM Holdings PLC, currently a tenant in Brandywine’s Park on Barton Creek campus. It plans to settle its engineering design center there as of the spring of 2015. Jones Lang LaSalle Inc. represented ARM in the lease transaction, while Oxford Commercial represented Koontz McCombs.
“This has been a uniquely challenging and rewarding experience for us,” said Bart Koontz, president & CEO of Koontz McCombs. “It was a complicated transaction involving all of our service areas, leasing, development and construction simultaneously. Best of all, it gave us the opportunity to work with two outstanding companies in Brandywine and ARM. It’s always a pleasure to work with top-flight, professionally managed companies.”