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Tuesday, 21st November 2017

in Bee Cave TX 78738

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Gateway to Falconhead starts construction

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With fresh approvals in-hand from the Bee Cave City Council, a new office project along RM 620 is slated to start construction this summer.

 

Blue Ohio Ventures LLC has sold 6.7 acres of a planned 14.6-acre project to Falconhead Offices LLC. John Collins and John Elges of Austin-based brokerage firm St. Croix Capital Realty Advisors handled the brokerage work for the sale. Along with Stephen Depizzo, they are also handling the marketing and leasing/sales for the project.

 

Earlier this year, the Bee Cave City Council approved site development plans for the 6.7-acre section that enable a total of 80,000 square feet of neighborhood office and medical space to be built. That space will be spread amongst six buildings, ranging in height from one to two stories. Site work has begun and construction is expected to go vertical this summer.

 

Steve Kanetzky, a partner with Falconhead Offices LLC, anticipates the space will be ready for occupancy in the fourth quarter of 2017.

 

“The City of Bee Cave is known for fiercely protecting its ambiance and Hill Country identity resulting in a current demand greater than supply for both retail and office space,” said John Collins, executive vice president with St. Croix Capital Realty Advisors. “Local residents need places to work and shop near their homes, less bearing the clogged infrastructure into the City of Austin. Gateway to Falconhead is ideally designed to fit both the design sensibilities of the City of Bee Cave and demands of its nearby residents.”

 

The project adjoins the remaining 7.9 acres, where 47,000-square-feet of neighborhood-scale retail space is presently under construction. That section is 70 percent leased to tenants that include: Bon Sushi, as well as Banc Corp South, Westbank Dry Cleaners, Wild Orchid Salon, Village Vet and Epic Nails salon.

All phases are collectively called Gateway to Falconhead – a nod to the project’s location at the entry point to the popular neighborhood known as Falconhead.It is located at the southwest corner of Ranch to Market Road 620 and Falconhead Boulevard.

 

St. Croix’s research found more than 17,000 rooftops are located within a five-mile radius of the site, along with an additional 7,000 additional homes in the pipeline. The area also enjoys a healthy average household income of $150,000, as of 2013.

 

The lender for Gateway to Falconhead’s retail component is Southstar Bank, the construction firm is IE2, the land planner was Land Strategies, the architect is Gary Shaw and the engineer is Garrett Ihnen. 

 

For more information about the project, please visit: http://www.gatewaytofalconhead.com/.

 

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