By Taylor Jackson Buchanan Feb.
Photo: Mark Sprague, director of information capital at Independence Title, shared a 2019 economic outlook with the Round Rock Chamber on Feb. 26. (Taylor Jackson Buchanan/Community Impact Newspaper)
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.”
“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.
Irulian was a very calm, knowledgable and friendly guide for me through the commercial real estate process. It was my first time renting a commercial property and she took the time to explain everything to me. She was patient and helpful as I asked a lot of questions. I felt so confident having her on my side when it came to talking to landlords and building owners. She knew what to look out for and what questions to ask. I learned a lot and ultimately found a property and contract that is working great for my business. Thank you Irulian!
The new building will be adjacent to the 87,186-square-foot Summit I, purchased by Mark IV in 2013 from Moore & Associates. The asset is the largest office building under construction in the Austin submarket.
by Razvan Cimpean | Jul 21, 2017
Mark IV Capital broke ground on Summit II at La Frontera, a 95,000-square-foot office building in Round Rock, Texas. The asset is the largest office building under construction in the Austin submarket.
PLANS FOR LEED CERTIFICATION
Located at 710 Hesters Crossing Road, the two-story asset offers convenient access to Interstate 35 and State Highway 45. The new building will also be adjacent to the 87,186-square-foot Summit I, purchased by Mark IV in 2013 from Moore & Associates. The project will aim for LEED certification and will include a 10,000-square-foot courtyard with shaded seating areas and parking for local food trucks. Another LEED-proposed development in the Austin area includes Austin Community College’s Leander campus, which was recently topped out last month. Additionally, Summit II will also feature a fitness center and flexible floor plans.
“The development of Summit II at La Frontera is another opportunity for us to expand our portfolio in the Austin market through the addition of high-quality assets in targeted growth areas,” said Mark IV CEO Paul Cate, in a prepared statement.
Mark IV selected Don Quick & Associates to be in charge of leasing for the upcoming office building.
By Jan Buchholz February 23, 2017
Two brothers from a large Round Rock family have found their career niche competing — and sometimes collaborating — with each other on commercial real estate deals in the retail sector.
Michael Sanchez, 34, of Don Quick & Associates Inc. and Gabe Sanchez, 31, of Weitzman never expected to be in the same business let alone have ample opportunity to work together. But that’s how the plot unfolded.
“We try to do as much business as we can together,” Michael Sanchez said. “Even though we work with competing firms what we do is very complementary.”
They both know the restaurant business inside and out. Michael even attended Le Cordon Bleu College of Culinary Arts. Their parents operated a Round Rock eatery for years.
“(My parent’s) restaurant was Michael’s Tacos,” Michael said. “I am the first-born so I had the honor of having it named after me.”
When their parents retired, Michael opened his own iteration of Michael’s Tacos in February 2010, but sold it in March 2012 after the death of his mother. After the emotional loss of the family matriarch, Michael took some time off.
Article photo by ARNOLD WELLS
Sports complex planning kicks off following land acquisition
Pflugerville approves nearly $4.3 million for facility site
By Emilie Shaughnessy September 30, 2015
The city of Pflugerville approved the purchase a 238-acre property in August for a new athletic complex that could include up to 24 fields. The purchase comes nearly two years after a study determined the city needed to build such a facility to accommodate its growing youth sports leagues.
City Council approved the acquisition of the $4.276 million Rosa Pfluger Tract off Cameron Road on Aug. 25 and is requesting bids from architecture and engineering firms interested in designing the sports complex. The site is large enough to also include a community park and nature areas, Mayor Jeff Coleman said.
“This gives us a lot of acres to grow into,” Coleman said. “The topography is beautiful. It has elevation changes, and it has a creek running through it. It gives the planners a lot of possibilities.”
Coleman said he hopes to see final design plans for the site by early next summer. The city will begin developing the southern portion of the property into athletic fields and spend the next decade turning the rest of the land into a recreation destination, he said.
The land purchase is funded through an $11 million bond voters approved in November for a sports complex, according to city officials. At the time of the bond, the city was considering several locations for the complex but had not selected a site, officials said.
Jesse Pedraza, president of the Pflugerville Area Youth Soccer League, said the new complex cannot come soon enough. Currently the league only has dedicated practice space for its competitive teams and has to share public park space with other organizations.
“I don’t know what it is, but [the Pflugerville area] is a magnet for soccer clubs,” he said. “We’re pretty much on top of each other trying to find practice space.”
Pedraza said PAYSL enrolls about 1,400 children and has been growing by about 9 percent each season.
“If we grow more we just don’t have anywhere to put more teams,” he said. “It’s a good problem to have, I guess.”
In addition to the soccer clubs, there are baseball, football and other sports leagues vying for practice space at Pflugerville’s city parks, middle schools and elementary schools.
Pflugerville Little League President Michael Owens said his organization is in a challenging position because its complex is not city property. Although PLL is also short on practice space and in need of several facility improvements, it must rely on participant fees and concessions to fund the program.
Owens said he hopes the new complex will allow PLL to relax its fees and take some of the burden off board members, who Owens said spent Labor Day fixing plumbing issues in the complex’s restrooms.
“It’s all stuff we are responsible for maintaining,” he said. “The new complex will be great, but [the time span] from purchasing to actually breaking ground still puts us off for years.”
Coleman said a new sports complex was his top priority when running for re-election and that the city will continue to make it a primary goal.
“We promised citizens we would create a sports complex because we are in desperate need of [practice and game space],” he said. “I’m very pleased it’s going to be well on the road while I’m mayor, and we’ll be able to enjoy it after I’m mayor.”
CORTEC PRECISION SHEETMETAL BREAKS GROUND AT 130 COMMERCE CENTER, PFLUGERVILLE
PFLUGERVILLE, Texas (April 15, 2016)—The Pflugerville Community Development Corporation (PCDC) today announced that Cortec Precision Sheetmetal Inc. broke ground this week on an approximately 120,000-square-foot building planned for its new location at 3801 Helios Way in Pflugerville. Cortec plans to occupy 60,000 square feet, and the additional 60,000 square feet will be available for lease.
Exterior construction on the building is expected to be complete this fall, and Cortec plans to relocate its 120 full-time employees to Pflugerville early next year.
The high-quality sheet metal business is family owned and operated and was founded in 1975 in San Jose, Calif., where the company headquarters are located with a staff of more than 300.
Cortec will make a $20 million capital investment in this new location at 130 Commerce Center, a rapidly growing mixed-use development at the southwest corner of SH 130 and Pecan Street in Pflugerville.
The Pflugerville Chamber of Commerce held a groundbreaking ceremony April 14. Chamber President and CEO Patricia Gervan-Brown spoke about the significant growth of Pflugerville, and PCDC Executive Director Amy Madison welcomed Cortec to the community. Pflugerville City Councilman Brad Marshall and Texas Regional Director from the office of U.S. Sen. Ted Cruz (R-Texas) Carl Mica also spoke at the event. Lastly, Cortec General Manager Richard Corrales discussed his excitement to move and expand his business in Pflugerville.
“We are so proud to see a longtime Pflugerville resident make such a substantial investment in our community, where we will support him and celebrate his continued success after more than 40 years in business,” Madison said. “This is a great day for Pflugerville and we want to offer you a sincere ‘welcome home’ to all of you at Cortec.”
Approximately two years ago, Cortec purchased an 8-acre tract of land from the PCDC for this project. Though the PCDC offered up to $228,000 in incentives to Cortec and sold the land at a reduced cost, the economic development corporation secured more than $500,000 in net profit in the sale of the land even after all incentives are paid to the company.
According to a 2014 study conducted by Austin-based Impact DataSource, during the next 15 years Cortec’s move to Pflugerville will generate at least 200 permanent direct and indirect jobs, result in $19 million taxable sales and purchases within Pflugerville, and generate $20 million in additional tax revenue for the City of Pflugerville.
About the Pflugerville Community Development Corporation
The Pflugerville Community Development Corporation promotes Pflugerville as a desirable place for new businesses to operate. The organization also supports existing businesses by helping to address their needs. PCDC can provide funding for use as an incentive to businesses to begin doing business in Pflugerville. PCDC funds, which are 4B money generated from a half-cent of the city’s sales tax revenue, can also be used to construct needed infrastructure such as roads, utilities and drainage projects. Located 16 miles northeast of Austin and just south of Round Rock, Pflugerville is well-situated in Central Texas. New state highways 45 and 130 and Interstate Highway 35 all offer direct access to other nearby cities and the region’s main airport. For more information, visit www.pfdevelopment.com.
Don, your extensive knowledge of the market place combined with a bulldog-like perseverance to see the sale to its conclusion made working with you and your staff a positive experience I will long remember. You bring to the table a deep understanding of human nature, a wealth of experience and the necessary sense of humor that is seldom seen in this day and age of instant gratification and “what have you done for me lately” attitudes. The words “Thank you” don’t begin to express my gratitude but they will have to do until a more complete phrase comes along. Continued Success.
DON QUICK AND ASSOCIATES BROKERS ROUND ROCK LAND SALE TO EAGLE BANK
102-year-old, Texas-based community bank expands to Round Rock, plans to open in November.
ROUND ROCK, Texas—Commercial real estate firm Don Quick and Associates, Inc. today announced that agent Brent Campbell brokered the sale of a 2-acre tract of land in northeast Round Rock to Eagle Bank, which will break ground at 11 a.m. today on a 4,300-square-foot, single-story building at 2260 North A.W. Grimes Blvd. in a Round Rock Chamber of Commerce ceremony.
Eagle Bank, which is a branch of Round Top State Bank, plans to open in November. This will be the community bank’s first location in Round Rock, and the second in Williamson County.
“Even with all the growth northeast Round Rock has recently experienced, there are still more than 1,200 home sites planned for this quadrant of town. Eagle Bank needed a location that provided accessibility in the heart of this growth,” Campbell said. “Eagle Bank is a reputable, trustworthy community bank that has been in business for more than a hundred years and takes the time to get to know their customers. I’m proud to have had a part in bringing a bank that provides this level of personal customer service to my hometown.”
Round Top State Bank is a privately owned community bank with more than $400 million in total assets. The bank was chartered in Round Top, Texas, in 1912. Round Top State Bank acquired Eagle Bank in Jarrell in 2011 and kept the name because of the company’s planned expansion to Round Rock. The Eagle Bank brand will be used in the Austin area.
Johnnie Mikeska joined Eagle Bank in January 2013 as Regional President for the Austin area. He has 25 years of experience in commercial lending and has resided in Taylor for 12 years. Mikeska has worked with Campbell on previous projects, and hired Don Quick and Associates for Campbell’s expertise.
“We had certain specifications for our bank in Round Rock, and we knew Don Quick and Associates was the right firm to find the perfect location to meet our business needs,” Mikeska said. “Brent knows the market extremely well, and he took the time to understand what we wanted to accomplish as a business and presented us with several solid options for a location.”
La Grange-based architecture firm Cutright & Allen, Inc. designed the building, and Cedar Park-based Braun and Butler Construction is the general contractor.
The Round Rock location is the sixth community bank for Round Top State Bank, including the two Eagle Bank locations in Williamson County. Eagle Bank-Round Rock will focus on commercial real estate, farm and ranch, equipment financing, lines of credit, construction and mortgage lending.
About Eagle Bank
Eagle Bank is a branch of Round Top State Bank, a privately owned community bank with more than $400 million in total assets. Round Top State Bank was chartered in Round Top, Texas, in 1912 and specializes in commercial real estate, farm and ranch, equipment financing, lines of credit, construction and mortgage lending. The bank has branches in LaGrange, Giddings, Lexington and Round Top, and two Eagle Bank branches in Jarrell and Round Rock. The nation’s leading bank rating and research firm, Bauer Financial, has given Round Top State Bank the highest rating of Five Stars for 38 consecutive quarters. For more information about Round Top State Bank and Eagle Bank, visit www.roundtopstatebank.com.
March 7, 2014
Stansbury Public Relations