Industry News Archives - Don Quick & Associates

California developer plans high-end office space in Round Rock

By | Don Quick News, Industry News | No Comments

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

By | Community News, Industry News, Uncategorized | No Comments

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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