Fresh from the success of its Stonebridge Plaza I development in northwest Austin, Transworld Properties has broken ground on a second structure immediately south of its fully leased building that was completed last year.

Like its twin, the 200,000-sf Stonebridge Plaza II is located in an office complex northwest of Research Blvd. and North MoPac in what officials describe as Austin’s “Golden Triangle” – the intersection of MoPac, Texas 183, and Loop 360. John Britton, Transworld’s senior vice president, told Wednesday that the new nine-story structure, scheduled for completion in fall 2001, will closely resemble Stonebridge Plaza I.

Transworld has again hired Kennedy-Wilson, a diversified international real estate services firm based in Beverly Hills, CA., as fee developer and leasing agent for the second phase. “The building’s size and its large flexible floor plates were chosen to both satisfy the growing demand for space by bigger, high-tech companies and appeal to smaller, more traditional users,” says Phil Capron, Kennedy-Wilson’s senior managing director.

He emphasizes the design of Stonebridge Plaza I and II incorporates many features demanded by today’s users, including a greater parking ratio and substantially increased low-voltage electrical capacities. The state-of-the-art air conditioning system will accommodate tenants with flexible working hours.

The lead tenant at Stonebridge Plaza I is Globeset Inc. Other tenants include Microsoft Corp., DPR Construction, Admiral Insurance and The Chubb Group.

Transworld Properties, based in Houston, has developed a real estate portfolio with total capitalization of more than $1 billion. Over the past several years Transworld Properties has been active in more than 20 markets from the Pacific Northwest to Florida. Equity investments in individual projects have ranged from $1 million to $15 million with overall project capitalization ranging from $4 million to $50 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.