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Lowe Enterprises Investment Group Buys Stonebridge Plaza I for Pension Fund Client

AUSTIN-The class A, 193,200-sf Stonebridge Plaza I in northwest Austin is now under the ownership of an unidentified pension fund client of Los Angeles-based Lowe Enterprises Investment Management Inc. The 99%-leased office structure was completed last March by Transworld Properties, which has just broken ground on a 200,000-sf sister building in the heart of Austin's Golden Triangle in the Northwest submarket.

By Connie Gore | Updated on September 12, 2000

AUSTIN-The class A, 193,200-sf Stonebridge Plaza I in Northwest Austin is now under the ownership of an unidentified pension fund client of Los Angeles-based Lowe Enterprises Investment Management Inc.

The 99%-leased office structure was completed last March by Transworld Properties, which has just broken ground on a 200,000-sf sister building in the heart of Austin’s Golden Triangle in the Northwest submarket, where Texas 183, MoPac Expressway and the Capitol of Texas Highway intersect. The building’s lead tenant is Globest Inc., with 53% of the space. Other tenants include Microsoft Corp., DPR Construction, Admiral Insurance and The Chubb Group.

“Austin is widely considered one of the top growth markets in the country,” Ted Leary, president of Lowe Enterprises Investment Management, says of yesterday’s announced sale.The nine-story structure, located at 9606 N. MoPac Expressway, is a contemporary glass and TX limestone design of House Reh Burwell Architects of Austin. The building is complemented by a six-level parking garage.

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