AUSTIN--Hat Trick Development has broken ground on a new, 37,000-square-foot medical office building serving the Dripping Springs area.

Located on a 4.5-acre site off the southeast corner of U.S. Highway 290 West and Sawyer Ranch Road, the project will be built adjacent to the Polo Tennis & Fitness Club. The development will be called Medical Towers at Sawyer Ranch.

“The demand for this medical office space is evidenced by the building being nearly fully leased even before breaking ground,” Eric Perardi, co-founding partner of Hat Trick Development, told GlobeSt.com. “We're also in talks for the remaining two spaces.”

Hat Trick hopes to bring a podiatry group and ambulatory surgery center to the project. 

Lewis Family Medicine & Urgent Care is the anchor in the project. Other tenants will include Dripping Springs Eye Associates, Kethley Physical Therapy, Solutions Pharmacy, Austin Dermatology Associates & Aesthetics, as well as an imaging center and cardiac catheter lab.

“We have a diverse mix of specialists that will support the growing needs of Dripping Springs,” says Rick Benson, co-founding partner of Hat Trick.

Medical Towers at Sawyer Ranch incorporates Hat Trick's business model where tenants become equity owners in the building through a limited liability corporation. Each tenant's share of the building is based upon the size of the space leased.

Construction began on April 14, with the project anticipated to open in spring of 2016. Schneider Halls Design has been selected as the project's architect and Big Red Dog has been tapped as the engineering firm. Structura Inc. is the contractor for the project.

This project marks Hat Trick Development' second property in the Austin market. The firm recently renovated and completed the Mueller Medical Plaza on Manor Road in Central Austin. Its principals also developed Cypress Creek Medical Plaza in Cedar Park, which since sold; Medical Towers at Riverplace, a project it recently completed in Northwest Austin that's fully leased; and Medical Towers at ShadowGlen, in Manor, Texas.

Additionally, Hat Trick Development has sites under contract in Hillsboro, Temple and Leander.

“We're grateful that the market has responded to both our location and business model, as we certainly believe the combination of good sites and a great strategy are keys to our success,” says Benson.