Industry News Archives - Don Quick & Associates

Perfect Game MUD Marks 3rd Major Development on US 79

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ON APRIL 18TH Perfect Game, a baseball scouting organization, announced plans to relocate their HQ to Hutto – a 300,000 SF behemoth that will seat 13,000 people and will be a part of a mixed-use-development “project that is expected to pump $200 million annually into the local community,” a major jump from the current economic generation of Hutto which is $30 million. (Community Impact)

This announcement marks the 3rd major project along US 79, coinciding with proposed improvements to US 79 from I-35 to east of FM 1460 (AW Grimes) that will include widening the road to include an additional travel lane in each direction. (TxDot) See their website here for more information on the US 79 project.

Here are the breakdowns of each development:

Kalahari

  1. Property Summary: 355 AC Indoor water park, resort & convention center
  2. Total Property Size: 355 AC – 4.13x the size of Dell Diamond
    1. 975 Guestrooms & suites
    2. 200,000 SF Convention center
    3. 5 Signature restaurants
    4. Tom Foolery’s Adventure Park: 80,000 SF
    5. America’s largest water park: 223,000 SF
  3. Breaking Ground Date: May 2018
  4. Projected Finish: November 2020

Hutto Co-Op District

  1. Property Summary: Hutto’s first mixed-use development that includes a new city hall building, space for civic activities, retail shopping, restaurants, & a farmer’s market
  2. Total Property Size: 35 AC, 500,000 SF dynamic business, retail, entertainment and residential destination
    1. Hutto City Hall: 40,000 SF – now open
    2. Restaurants List (as of 4/24): Top Notch Burgers, Southside Market & BBQ
    3. Flix Brewhouse: 39,000 SF – opening 2nd quarter 2020
  3. Breaking Ground Date: November 2018
  4. Projected Finish: First phases early 2020

Perfect Game/Indoor Sports & Event Center Development  

  1. Property Summary: Baseball scouting org Perfect Game will anchor this $800m mixed-use development project.
  2. Total Property Size:
    1. 300,000 SF stadium that will be able to seat 13,000
    2. 30+ Turf/regular ball fields & 6 multipurpose fields
    3. Additional office, commercial and residential components
    4. Convention hotel
  3. Breaking Ground Date: Summer 2019
  4. Projected Finish: Perfect Game grand opening will be no later than Memorial Day 2021
  5. Projected to pump $200m annually into the local community and generate more than 150,000 hotel room nights annually.

 

Notable Mentions:

Diamond Oaks: Approximately 13,000 SF of new construction multi-tenant retail and restaurant space

Shops @ Legends Village: 14,400 SF office/retail site across the street from Kalahari

Don Quick & Associates, Inc. Ranked #1 Commercial Real Estate Brokerage Firm in Wilco by Austin Business Journal

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Don Quick & Associates, Inc. was ranked 18th overall in the Austin Business Journal’s list of top commercial real estate brokerage firms for 2018 in the Austin area – and 1st for Williamson County. The companies are ranked by transaction values for sales and leases for 2018. The company moved up to 18th from 23rd the previous year.

Don Quick & Associates, Inc. Complete Rankings:

#1 in Total Transaction Value of 2018 Sales & Leasing in Williamson County

#18 overall in Total Transaction Value of 2018 Sales & Leasing in Austin MSA

#4 in Breakout: Transaction Value: other Client Sales/Purchases for Pad Sites and Land

#5 in Austin Operations: Total Acreage Buy/Sell on Client’s Behalf During 2018

#8 in Breakout: Of Total Building Transaction Values, What Portion is for Multifamily Portion

#8 in Austin: SF of Multifamily Portion

#9 Austin: No. of Multifamily Units Sold

#13 in Austin SF Leased

#16 in Breakout: Aggregated Transaction of Leases

See full list here:
https://www.bizjournals.com/austin/subscriber-only/2019/03/29/the-list-top-austin-area-commercial.html

Link requires a paid subscription to view.

USTA Texas to Anchor $1.5B Cedar Park Project

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By Mar.
View this story on Community Impact website.
The United States Tennis Association Texas plans to bring its headquarters and facilities to the Indigo Ridge mixed-use development announced for Cedar Park, a city located just north of Austin, Texas. Currently, the USTA Texas is headquartered at 8105 Exchange Drive. Cedar Park’s City Council approved a resolution to authorize the agreement.

USTA Texas headquarters will serve as the anchor for this projected $1.5 billion urban oasis development, which will occupy 155 acres at the northwest corner of East Whitestone Boulevard and Sam Bass Road. Upon completion, Indigo Ridge will encompass more than 5 million square feet of retail, dining, urban living, corporate office, hotel, medical, sports and entertainment uses. The tennis campus will consist of approximately 40 outdoor tennis courts, six to eight indoor tennis courts, a stadium court and related amenities for training, development and competitions.

“The USTA is excited to be part of this development and looks forward to working with Indigo Ridge Development Partners to design and develop the facility,” Tom Hunt, president of USTA Texas, said in a prepared statement. The Tennis Center will be owned and operated by USTA Texas.

“With regional employment growth from companies like Dell, Google, Oracle and Emerson, and the massive nearby expansion by Apple, the USTA Tennis Center will be an added draw for future corporate relocations to Indigo Ridge,” added Michael Kennedy of Avison Young Dallas, the broker for the project.

Design firm Gensler created the masterplan for the project, which incorporated outdoor public gathering spaces and multigenerational healthy living communities that complement the USTA program. Construction is estimated to begin in six months and roll out in six phases.

Images courtesy of Avison Young

Artist rendering of The District development.

City Council approves development agreement for dynamic mixed use project

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City entered into MOU with owners of The District in 2017

The Round Rock City Council voted unanimously Thursday, Feb. 14, to approve an agreement with the developers of The District, a 65-acre mixed-use project planned for SH 45 just east of IH 35. The City Council approved a memorandum of understanding with Mark IV Capital for the project in November 2017. 

In return for the company building 1 million square feet of Class A office, retail and residential space, the City will contribute $12.56 million toward public infrastructure such as streets, sidewalks and utilities. The City projects the development will generate over $1.5 million per year in tax revenues to the City when it is completed.  

The development is also expected to create 5,000 jobs when it is fully developed. 

“We are excited to partner with Mark IV on the development of The District in Round Rock,” Round Rock Mayor Craig Morgan said. “This is exactly the type of unique project we need in this high-growth area.” 

Mark IV manages the Summit I and recently completed construction on Summit II office projects in La Frontera.* 

“We are very excited about our continued partnership with the City of Round Rock on The District, which is our third project within the community,” said Justin Basie, Regional Vice President, Mark IV Capital. “The District is a dynamic mixed-used development that will combine working, living and retail in one prime location. This is a great opportunity to bring an unmet need to the city and one that will have long-term benefits for the region. We look forward to breaking ground on this unique project, and we are proud to be involved in what will soon be a landmark in Round Rock.” 

According to the agreement, Mark IV would have to reach the following performance milestones: 120,000 square feet completed by 2022; 250,000 square feet by 2029; and 1 million square feet by 2039. Mark IV would be required to repay the City if it fails to meet those performance measures. 

The City will fund the infrastructure improvements with its half-cent, Type B sales tax revenues. Type B funds are limited specifically for economic development projects, including transportation improvements.

“We’re thrilled about this development project, which along with other projects recently completed or breaking ground this year, will unlock opportunity for our growing community,” said Nichole Vance, Director of Business Attraction, Round Rock Chamber. “The District will transform the southern area of Round Rock and will be an ideal location for the types of companies looking for high-end office space in Round Rock.” 

Originally posted by City of Round Rock on February 14, 2019.

View the original article here.

*Links Edited

 

 

California developer plans high-end office space in Round Rock

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Newport Beach, Calif.-based Mark IV Capital tentatively plans to break ground on Round Rock’s first Class A office space beginning this summer. The 82,000-square-foot building will be the second building at The Summit at La Frontera office park near the intersection of Hesters Crossing Road and La Frontera Boulevard.

The architect, engineer and general contractor have yet to be selected.

Mark IV Capital purchased the land and the adjacent Summit I office building in October 2013 from Maryland-based Moore & Associates Inc. The 87,000-square-foot Summit I is a Class B property built in 2001. It’s almost 95 percent occupied with tenants that include Broadcom Corp., HDR Engineering, Prime Lending and SmartNote.

Robert Shore of Don Quick and Associates Inc. represents Mark IV Capital with the leasing of Summit I and the preleasing of Summit II.

“We are targeting a large user requiring 15,000 to 20,000 square feet or more of Class A office space in Central Texas for Summit II,” Shore said. “We are already working with several companies who are looking to enter the greater Austin area and require this type of office space.”

This is Mark IV Capital’s first investment in Austin. The company researched the Austin market for about 10 years before committing capital here.

“Round Rock is a magnet for attracting businesses due to progressive city leaders and a pro-business climate,” said Justin Basie, asset manager for Mark IV Capital.

Mark IV Capital is active in real estate acquisitions and developments in Phoenix, Denver, Las Vegas and Southern California.

Jan Buchholz, Austin Business Journal (Follow her on Twitter)

Round Rock Economic Development Project Wins State Award

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The 2013 Community Economic Development Award has been given to the Round Rock Chamber of Commerce and Economic Development Partnership to recognize their success in bringing Cornerstone Healthcare Group to the community. The discussion for this development began in April of 2012 to address the need for quicker access to hospital care for Round Rock residents, and they broke ground on December 4th. “This hospital will continue the Round Rock brand of being associated with high quality medical care. The project demonstrates Round Rock’s continued focus on quality development,” said Round Rock Mayor Alan McGraw. The nearly $20 million investment will provide a two-story, 55,000 square foot facility with 54 patient rooms, 12 high intensive care rooms, and 6 high-observation rooms. A ribbon cutting ceremony will take place on November 21st to celebrate the grand opening of the hospital.

New Land-use Codes in Progress for City of Austin

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Public opinion is being sought by the city of Austin as land-use codes are being rewritten. “A new code would seek to maintain the character of existing neighborhoods, integrate nature, create and expand housing choices and ensure efficient city services.” It is expected to take three years and up to $2 million to rewrite the code that will set the foundation for the Imagine Austin plan passed in June of last year. The future of residential and commercial development will be determined by these changes.

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