Site next door ready for development, too
By Erin Edgemon – Staff Writer, Austin Business Journal
May 16, 2019, 3:41pm EDT
A class A office building proposed for a nearly 10-acre tract in Southwest Austin was designed with scenic Central Texas views in mind.
The focal point of Sunset Ridge — a large, L-shaped office building — is a rotunda that sits at the highest point on the property at 8423 Southwest Parkway, said Jeff Needles, principal at Urban Foundry Architecture, the architect on the project.
“It gives the building 360-degree views,” he said. “You can see all of the way to the (Hill Country) Galleria in Bee Cave, to downtown Austin and the Hill Country to the south.”
Avison Young’s Corey Martin, Andrew Alizzi and Jason Hellberg are marketing the property for sale or for lease for a potential corporate campus or multitenant building. Los Indios Ventures Inc. is the owner and developer of the property.
Take a virtual tour of Sunset Ridge here.
The 9.6-acre tract at 8423 Southwest Parkway is fully entitled for a 197,300-square-foot office building with 857 parking spaces — most contained in a parking garage, Martin said. An adjacent tract at 8509 Southwest Parkway, another 10 acres, is zoned for mixed use or general office.
“We will either go ground up and deliver for a tenant,” Martin said, “or if a developer wants to come and buy the project we will sell it entitled.”
He said there’s been a lot of interest in the property, especially tract two, from developers in office, apartments, senior living and senior care. The developer, though, isn’t looking to sell tract two separately from the entitled tract.
The developer isn’t looking to build on spec, either, Martin said. “If we can get 20 or 30 percent leased, we will go vertical on it.”
The Southwest office submarket is known for its expansive office campuses due to the limited impervious coverage.
“Due to the nature of the sites, a significant portion of the property is intended to be left natural and offers itself to outdoor amenities,” Needles said. “Part of what drove the design of the building is the topography of the site, and the number of protected and heritage trees,” he added.
Sunset Ridge is near the Stratus Properties Inc.-developed Lantana Place, a 500-acre mixed-use development on Southwest Parkway immediately south of the Barton Creek community. It includes about 320,000 square feet of retail and restaurant space and an upcoming Marriott AC Hotel.
The corporate campuses of Yeti Coolers and Advanced Micro Devices Inc. are nearby on Southwest Parkway.
Originally posted on Austin Business Journal