La Frontera Mixed-Use Project Records Rapid Absorption

STG Design has been selected as the architect for the Frontera Ridge development.

ROUND ROCK, TX—Activity in the much-acclaimed La Frontera mixed-use project in Round Rock continues to hum along. Another parcel in the form of land zoned for office development has been sold by W2 Real Estate Partners . The 5.4 acres of land fronting Sundance Parkway has been sold to Emerson Electric Co. , which intends to hold the land for future use. It directly abuts Emerson’s existing facility, which is the global headquarters for the company’s automation systems and project services business specializing in assisting customers operate facilities. The St. Louis-based company has grown steadily in the Austin/Round Rock, TX area, since opening its first Austin facility with 50 people back in 1981. In early 2012, it debuted its $70 million innovation center, a 282,000-square-foot technology hub designed for 800 employees, located in Round Rock. “This land acquisition speaks directly to the strength of the area and the ability of a major employer to experience continued growth here,” said Steve Freche , executive vice president with W2 Real Estate Partners, formerly known as Simmons Vedder Partners . The 328-acre La Frontera mixed-use project continues to record rapid absorption of the last few remaining land parcels within the development. Last year, South University opened its newly constructed, 42,000-square-foot campus on a four-acre site it also acquired from W2 Real Estate Partners. Direct highway frontage, prominent visibility to more than 100,000 cars per day and city of Round Rock incentives all lead to the University’s decision to relocate from Parmer Road in Austin to Round Rock’s city limits. “The La Frontera development is in a prime location and we are thrilled with the additional investment in the area,” said Ben White , vice president of economic development for the Round Rock Chamber . “Emerson is a valuable asset to our business community and it is encouraging to see that they are making future plans to expand adjacent to their existing location.” Directly adjacent to Emerson’s newly acquired expansion site, Live Oak-Gottesman is completing the finishing touches on a 98,000-square-foot class-A office building known as La Frontera Plaza . The project is nearly fully leased to Houghton Mifflin Harcourt , serving as its Texas regional office. Houghton Mifflin Harcourt is relocating to Round Rock from the Domain area, and is estimated to be bringing 270 jobs along with it. Directly across Sundance Parkway from the La Frontera Plaza office building, a new 140-room Hyatt Place Hotel is currently under construction to be complete in late 2016; this is in addition to the recently completed 91-room Home2 Suites by Hilton. The La Frontera project also features the 291-room Marriott Austin North Hotel and Conference Center , providing numerous hotel options and large-scale meeting space to the immediate area. According to Freche, it is very important for corporate office users to have quality and affordable hotels within walking distance of an office location. “Emerson and Harcourt are two more examples of national corporations wanting to locate and or plan major expansions in an area that is easily accessible, at the hub of central Texas’ tech work force, and within an establish mixed use environment,” Freche said. “Aside from the very upscale and somewhat exclusive Domain project, companies have very few options in the Austin area to be part of an established ‘live-work-play’ environment, which has become increasingly important to major companies wanting to hire and retain the best employees. From a day-to-day perspective, most employees working at these projects are less interested in Louis Vuitton and Tiffany & Co., and more interested in convenience, culture and value.” Freche and the W2 Real Estate Partners team are continuing to market the highly amenitized 400,000-square-foot class A office project known as Frontera Ridge , which directly fronts State Highway 45. Frontera Ridge recently received its site development permit, a critical milestone for the project, enabling construction to begin as soon as pre-leasing benchmarks are achieved. STG Design and Harvey Cleary Builders have been selected as the architect and general contractor, respectively, for the Frontera Ridge development. Brett Arabie and Mark Greiner with Cushman & Wakefield Oxford Commercial are handling project leasing. Freche tells GlobeSt.com: “Marketing efforts are going well for W2′s project dubbed Frontera Ridge. What’s particularly interesting is that we’re getting inquiries from prospects asking if we can build an even larger office campus, which we can. The project is being very well received particularly as there are few office sites with highway exposure and entitlements in hand to begin development. We’re very encouraged.” Austin development is abundant. What are the active markets? Who are the key players? Join us at RealShare Austin for market intelligence and the best networking in the biz.