Posted: May 05, 2008
FOR IMMEDIATE RELEASE: May 5, 2008
KDC, NEWQUEST PROPERTIES JOIN FORCES TO MARKET OFFICE COMPONENT OF STONE HILL TOWN CENTER
Build-to-suit office space to be located northeast of Austin in rapidly growing Pflugerville
DALLAS – – Koll Development Company (KDC), one of America’s leading commercial real estate firms, and Houston-based NewQuest Properties announced that they will jointly market 14 acres for corporate build-to-suit opportunities at Stone Hill Town Center, a master-planned development owned and controlled by NewQuest in Pflugerville, Texas.
“We are excited about teaming up with NewQuest Properties,” said Steve Van Amburgh, CEO of KDC. “They are a great group and we are bringing together our similar office cultures and mutual goals to ensure the success of this project.”
Located 12 miles northeast of Austin at the southwest corner of State Highway 130 and State Highway 45, Stone Hill Town Center is situated next to one of the largest tollway projects in the United States and serves as the center point for Pflugerville, Hutto, Round Rock and Taylor.
“This venture will allow us to merge our extensive knowledge and experience in build-to-suit development with NewQuest’s superior office site,” said Mark Cashman, senior vice president of KDC. “Our goal is to find the ideal corporate tenant for Stone Hill Town Center.”
Stone Hill Town Center is a 196-acre mixed-use development with 1 million square feet of retail and 36-acres of single-family housing, multi-family housing and office space. The retail component is scheduled for completion in spring 2008 with Super Target, Home Depot, Ross, Office Depot, Best Buy, and Dick’s Sporting Goods. The project will feature many amenities for future office tenants including several restaurants, a theater and a 45,000-square-foot 24 Hour Fitness Sport Club.
“Koll Development is one of the premier build-to-suit corporate office developers in the country and an ideal partner for us at Stone Hill Town Center. Their office product will be a key component of our mixed use development,” said Jay Sears, principal, NewQuest Properties.
About Koll Development Company
Koll Development Company (KDC), one of America’s leading commercial real estate firms, provides a full range of commercial real estate services including corporate build-to-suit development, acquisitions, corporate facility project/construction management, project financing, asset and land management, and marketing and leasing. KDC is headquartered in Dallas and has offices in Atlanta; Charlotte, N.C.; and Detroit. For more information visit www.perotsystems.com
About NewQuest Properties
Geographically diversified throughout Texas, NewQuest Properties currently has projects in the pipeline totaling 3,000,000 square feet, all of which will be added to its portfolio of approximately 14 million square feet. NewQuest has $1.1 billion in assets, and is a market leader in the development of retail centers, coordinating every aspect of retail center development from land acquisition, financing, design and development to leasing and property management. For more information visit www.newquest.com