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McShane Projects: Four Under Way, More to Come in Changing Austin Strategy

AUSTIN-The market's changed and so has McShane Corp.'s Austin strategy. Four projects are under way; more are in the pipeline. Two office projects, totaling $50 million, mark the developer's inroad into that segment of the city's market.

By Connie Gore | Updated on February 26, 2001

AUSTIN-Chicago-based McShane Corp. is rolling out an aggressive play to capture its share of the Austin market, where rental rates, job growth and pent-up demand for all types of space drive the decision to beef up its presence.

With that play comes $50 million in two class-A office spec projects in the city’s bustling northwest corridor. Dirt’s flying simultaneously on a two-building, 175,000-sf development at Braker Point and a one-building project, totaling 150,000 sf, at Research Boulevard and Riata Trace Parkway. They are McShane’s first office projects in Austin and they are coming on the heels of industrial developments that are under way at the 72-acre Commerce Center South and 52-acre Tuscany at Walnut Creek.

McShane already has 275,000 sf out of the ground at Commerce Center and is planning to break ground within three months on another 160,000 sf, Hunter Barrier, senior vice president of McShane’s Southern Division, tells GlobeSt.com. The projects, all of which deliver in August, are being done with partner, PAC Trust, which is based in Portland, OR, and represent that entity’s inroads into Austin’s hot market.

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