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Stratus Shifts Focus to Own Backyard

AUSTIN-Now that it has sold most of its properties outside this market, Stratus Properties Inc. is ready to get to work on developing Austin area assets, such as the 1,273-acre Circle C project that includes 1 million sf of commercial space.

By Tim Green | Updated on November 06, 2002

AUSTIN-While Stratus Properties Inc. posted a slight loss in the third quarter, the period might be more notable for marking a shift in the local company’s focus to developing and marketing its assets in the area. With the sale of 11 acres of commercial property in Houston, Stratus has disposed of most of its properties outside Austin.

Also, the city of Austin’s approval during the quarter of a development agreement for 1,273 acres in the Circle C development allows Stratus to proceed there. The development agreement allows 1 million sf of commercial space and 1,730 residential units.

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