Omsai Joint Venture, LLC has purchased 3.75 acres on Metric Lane, just north of Parmer Lane, from Catoosa Springs Partners, LP. The site is adjacent to Westview Middle School and Parmer Lane Elementary. NAI Austin’s Josh Hubka, a Land Specialist and CCIM Candidate, represented the buyer, who plans to build a 10,000 square foot Montessori School with an enrollment of 160 children, ages 2-5. This will be the first Montessori School in Austin for Ashok Someshwar, the buyer, who currently has two schools in Plano. He plans to sell the excess land to a medical office developer.
NAI Austin is one of Austin’s most experienced commercial real estate firms and the Austin area representative for NAI GlobalTM, the industry’s largest global network of real estate service-providers, comprising 5,000 brokers in 325 offices serving more than 55 countries worldwide. For more information on NAI Austin, please visit www.naiaustin.com.
As more Austin-area developments are looking to become LEED certified to reduce their impact on the environment, they are also moving up in their environmental certification.
Last week, a North Austin office development, which started construction in January, became gold LEED pre-certified as a result of its energy and water efficiency, use of local and recycled materials and the provision of facilities for bicycling commuters. Located at Oak Creek Drive and MoPac Expressway, Oak Creek Plaza is a Class A 50,000 square foot office building on four acres of land near the Capital Metropolitan Transportation Authority’s commuter rail. Real estate developers have figured out that developing LEED certified office buildings will not only be a benefit to the environment but will also make their buildings more attractive to tenants, especially those from the West Coast. Oak Creek Plaza is one of the first gold LEED certified projects in Austin and will be finished in October of this year.
In May, the Ronald McDonald House of Austin and Central Texas became platinum LEED certified as a result of its landscape architecture and rooftop solar panels that power at least half of the rooms and avoid 30,000 pounds of carbon dioxide emissions annually. Located at 1315 Barbara Jordan Boulevard and completed in 2007, this 28,500 square foot facility is the first solar-powered Ronald McDonald House in the world.
The South Austin area surrounding South Congress and Ben White is growing substantially as it plays host to development projects which include residential, retail and office space. Also being built is the South Central Transit Center, a new part of the Capital Metropolitan Transportation Authority system, which will serve to improve the city’s public transportation, beginning in early fall.
Some projects coming online soon are 2900 South Congress, a 21-unit office complex and SoCo Lofts, a housing complex with more than 20,000 sf of restaurant, retail and office space. The Abby at Ben White, a 48,938 sf shopping center built in 2007, recently came onto the market. It is currently home to a diverse group of tenants and is selling for $12.5 million.
This area, just minutes from downtown, has become a bustling hub of expansion with a live/work/play design. Its convenient location is not only close to the heart of Austin, but is also near many major roadways, such as U.S. Highways 35, 290 West, 71, and a short distance from both 360 and MoPac. It is also just minutes from Austin-Bergstrom International Airport and rests on the doorstep of St. Edward’s University.
For more information on the South Austin commercial real estate market or properties, contact the professionals at NAI Austin through www.naiaustin.com. For retail information, contact NAI Austin Retail Specialist Sherry Sanchez; for office information, contact NAI Austin Office Specialist Lise Wineland.
