Glen Sorrel of the Austin office of Beverly Hills, CA-based Kennedy-Wilson International represented the building owner, the California State Teachers Retirement System. Joe Cicardo of Dallas' Trammell Crow Co. acted for Bank of America.
Situated in the Arboretum area of the northwest submarket, Stonebridge II opened earlier this year, joining its twin, Stonebridge Plaza I near the intersection of MoPac Expresssway and US Highway 183. The building was developed by Transworld Properties and Kennedy-Wilson. Houston-based Reh Burwell Architects designed the building. Kennedy-Wilson is the building's leasing agent and property manager.
Vacancy in the northwest submarket, the city's biggest office submarket, runs at 31.9%, according to third-quarter figures from Grubb & Ellis Co. The asking rent is $23.05 per sf for class A space. The citywide vacancy rate stood at 22.5% at the end of the third quarter.
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