142,951-SF Spec Office Building Under Way

AUSTIN-Trammell Crow Co. is tackling a 142,951-sf spec office project at Norwood Crossing, a two-story development that will deliver by Dec. 1. The project, which has just broken ground, is located near the intersection of Interstate 35 and US Highway 183. Trammell Crow will lease and manage the building. Kevin Granger, a Trammell Crow vice president, tells GlobeSt.com that, “this building can have any type of company but it’s designed to accommodate high-tech users. It should serve service companies well, too.” The structure sits between Inflow and Exodus and has access to Southwestern Bell, Time Warner and MCI fiber-optic lines. Reh Burwell Architects, a firm with offices in Austin and Houston, is the designer.

Norwood Crossing, situated on 11.29 acres, will be one of the few multi-story office buildings in an area of town that is almost completely developed, Granger says. It is designed with 70,000-sf floor plates. Common areas are maximized, Granger says, which means the add-on factor for the building is 13% for multiple tenants and 7% for single tenants. Most office buildings mean a 15% add-on rate, which could play out to a $20,000 savings over a five-year lease on 10,000 sf.