World Class Expands Footprint in Northwest Austin
- Mar 27, 2019
World Class Property Co. continued its expansion in Austin, Texas, with the acquisition of Offices at Stonelake, a five-building office project less than 1 mile from The Domain. The asset is situated roughly 1 mile north of Arboretum Crossing, a 191,760-square-foot retail property the company purchased earlier this month.
The 123,761-square-foot Offices at Stonelake occupies 8.3 acres along Braker Lane between Stonelake Boulevard and MoPac, and is part of the Quarry Business Park, a mixed-use development featuring restaurants, fitness center, hike and bike trails and access to Quarry Lake. World Class plans to invest in upgrades and renovations as space becomes available. Current tenants at the property consist primarily of technology companies.
“The demand for office space in Northwest Austin, from growing technology and software companies, continues to outpace supply,” Nate Paul, president & CEO of World Class, said in prepared remarks. “Stonelake is a great fit for our value-oriented investment philosophy and long-term investment horizon.”
Image courtesy of World Class Property Co.