Transwestern Starting One Project, Selling Another in Southwest Austin

AUSTIN-Transwestern Commercial Services has one project in the hopper in southwest Austin and a sales contract pending on another property in the same submarket.

Details are being fine-tuned for Travis Oaks, a 122,700-sf office tower while the 160,650-sf, five-building Monterrey Oaks Corporate Park is in the process of being sold, Allison Koborssi, Transwestern’s development assistant, tells GlobeSt.com. The Travis Oaks project will be the only property in Transwestern’s southwest Austin holdings once that deal is completed.

Transwestern is in the midst of sending out an investment package for Travis Oaks, situated on 9.98 acres that had been bought earlier this year. No leasing commitments have been signed, says Koborssi, “but we have a lot of prospects.” She says the interest has been piqued by increased activity in the southwest submarket. “It’s a hot market out there right now,” she explains. Meanwhile, there is talk about a possible second phase to the office development, which is flanked by undeveloped acreage.

Designed by Ray Burwell Partners of Austin, Travis Oaks is a three-story office structure complemented by a three-level parking garage and additional surface parking. A significant number of the property’s trees will be retained in the construction, which has been awarded to Zapalac/Reed Construction of Austin.

According to Korbossi, construction will begin in December. By third quarter 2001, the project will be ready for finish out, she says. Costs are still being determined.