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Texas Guaranteed Buying 190,000-SF La Frontera Building

ROUND ROCK, TX-A closing is set for Dec. 12 between the student loan organization and a joint venture of Kennedy-Wilson and Fortis Advisers. The sale will drive a consolidation of corporate functions and a call center.

By Tim Green | Updated on October 06, 2002

ROUND ROCK, TX-Texas Guaranteed ended its search for new space with a contract to buy 301 Sundance Parkway, a 190,000-sf office building in the La Frontera development in Round Rock. The nonprofit corporation expects to close on the purchase by Dec. 12 and move in by June 2003.

The organization, which administers federal student loan programs in Texas, will consolidate its corporate operations and a call center into the building. The purchase takes a big chunk of space off the vacancy lists at once, adds vitality to the office market at La Frontera and moves 550 jobs to Round Rock. The building has been empty since it opened earlier this year.

Kennedy-Wilson International and Fortis Advisers, a subsidiary of Fortis Inc., a Dutch insurance and banking company, own the building in a partnership called FKW La Frontera Ltd. The project’s cost was reported to be $20 million when construction began in 2001. Williamson County appraisal records peg its assessed market at $16 million.

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