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Offices Continue to Benefit from Common Area Upgrades

AUSTIN, TX—Renovations of Lakewood on the Park allow the new owner to leverage strong market fundamentals in a reposition play as a well-located alternative to higher priced spaces.

Lakewood on the Park Lakewood on the Park is one of the few office complexes with both structure and surface parking.

AUSTIN, TX—Lakewood on the Park is a 180,558-square-foot suburban office campus in Austin’s Northwest submarket. Built in 1998 by local developer HPI, the complex received the 2012-2013 TOBY Award from Building Owners and Managers Association for best low-rise suburban office park in Austin.

Located at 7600 Capital of Texas Hwy. (Loop 360), the property features two, three-story class-A office buildings on a 9.88-acre site overlooking Bull Creek. Lakewood on the Park is one of the few office complexes in the market with both structured and surface parking. The properties are 77% leased with tenants including Centaur Technology Inc., Bulldog Solutions and USA Southwest Inc.

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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