KDC ANNOUNCES A JOINT VENTURE WITH SH 71-130 HOLDINGS GP LLC TO DEVELOP 100 ACRE PARCEL FOR BUILD-TO-SUIT OFFICE SPACE IN SOUTHEAST AUSTIN
Office space part of 390-acre mixed-use project at intersection of HW 71 and SH 130
AUSTIN, Texas – (May 20, 2015) – KDC, one of America’s leading commercial real estate development and investment firms, today announced a joint venture with SH 71-130 Holdings GP LLC to develop a 100-acre parcel for build-to-suit office space in southeast Austin.
“This opportunity was a great catalyst into a strong market with growth opportunities,” said Toby Grove, president of KDC. “It also allows us to market our build-to-suit capabilities with seasoned partners in an up-and-coming area of Austin.”
The new office space will be part of a planned 390-acre mixed-use project at the intersection of Texas Highway 71 and State Highway 130 toll road.
“Becoming involved in this project was an easy decision and the timing is perfect,” said Jake Ragusa Jr, senior vice president and partner, KDC. “The improvements to Highway 71 are a game-changer for development in this area. Once you factor in this ideal location near Austin-Bergstrom International Airport and only 15 minutes from downtown Austin, it meets the main needs of potential office tenants.”
Karl Koebel, manager of SH 71-130 Holdings GP LLC, has been an advocate for development in southeast Austin. “I knew with the right development partner, the possibilities were incredible,” said Koebel. “KDC is known as the corporate build-to-suit leader with more than 125 projects completed in various markets. The team knows the formula for success.”
In addition to the office component, the mixed-use project will also include retail, multi-family, industrial and educational elements. The mixed-use project has received the Triple Freeport Designation, which allows schools, cities and counties to exempt business inventory from taxes if goods are shipped out of state within 175 days.
“Because of the COTA race track and the major road improvements well underway on Highway 71 and FM 973, the southeast Austin real estate market is poised for explosive growth,” said Doug Launius, manager of 71-130 Holdings GP LLC. “We are excited to be at the starting gate with a prime parcel of land and a great development partner in KDC.”
Page is coordinating the architectural planning and Kimley-Horn is the engineer.
KDC, one of America’s leading commercial real estate development and investment companies, provides a full range of commercial real estate services including corporate build-to-suit development, acquisitions, corporate facility project/construction management, project financing, asset and land management, and marketing and leasing. KDC is headquartered in Dallas and has offices in Atlanta; Austin, Texas; Charlotte, N.C., and Houston. For more information, please visit kdc.com.