Rollingwood Center, 2500 Bee Caves Road, Rollingwood, is set to host its first tenants, including Independence Title, Heritage Title Co. and law firm Barnes Lipscomb Stewart and Ott, in July or August, said Jason Thumlert, principal at Endeavor Real Estate Group, the developer of the complex.
Within 10 months of breaking ground, Phase I of Rollingwood Centers 215,000 square feet of office space was fully leased to five tenants, he said.
"We believed [the project] would have strong interest from tenants, but were excited to have it full before we finish construction," Thumlert said.
"Phase I of the center includes about 215,000 square feet of space within five stories in Building 1 and three stories in Building 2," he said. "The sunken garage contains 790 parking spaces and connects with Building 1 through an underground tunnel," he said. A walkway from the top story of the garage allows access to the main lobbies of both buildings.
"As part of the development plan agreement between the developer and the city of Rollingwood, the center will not have any retail tenants, thereby not providing sales tax revenue for the municipality," Thumlert said.
However, he said the project has generated many jobs for the community.
"On the construction side we have had more than 100 people employed at the [Rollingwood Center] site daily from different trades," Thumlert said.
The project is designed to be constructed in two phases, with the centers two buildings and garage built in the first phase and a third office building and second garage planned for the second phase, he said.
The fact that we are 100 percent leased in Phase 1 allows us to start focusing on the next phase, he said.
"Advertising agency LatinWorks was the first of five tenants to sign a lease contract for the site, amassing 50,000 square feet out of Building 2s available 66,000 square feet," Thumlert said.
The Rollingwood location gives us the opportunity to build out a unique creative environment, LatinWorks Public Relations Manager Justin Smith said. The [Rollingwood Center] building location offers unparalleled and expansive views of downtown Austin.
There are multiple avenues for employees to enjoy the outside environment with close access to the lake.
Thumlert said he initially thought the office complex would have more than five tenants.
"But, given the location and visibility [of the project], its not a surprise that someone said, "We want this to be our headquarters,"" he said.
"The center is on target to complete the project within its $50 million budget," Thumlert said.