Posted: Aug 12, 2008
FOR IMMEDIATE RELEASE: August 12, 2008
KDC BREAKS GROUND ON 448,550 SF NORTHPOINTE TRADE CENTER IN AUSTIN
“Green” industrial development is second of five locations for KDC-HMC development venture
DALLAS – – KDC, one of America’s leading commercial real estate firms, along with Harbert Management Corporation (HMC), has started construction on Northpointe Trade Center in Austin, Texas. This is the second industrial development for KDC and HMC since launching their $120 million national development program in February 2008.
“We are excited to announce the Northpointe Trade Center project as the next step in the continuation of our industrial development program with HMC and are actively looking for additional sites,” said Randy Touchstone, vice president of KDC and director of the industrial program. “We selected the Austin site knowing that the city has a very healthy industrial market with great opportunity for growth and success. Also, this specific location offers frontage on Interstate 35 and great access to State Highway 45 and State Highway 130 in an area where land is tough to come by and entitlements are a challenge.”
Located at 2251 Piccadilly Drive in Austin, Texas, Northpointe Trade Center will consist of three buildings totaling 448,550 square feet of industrial space. Building features include 24’-28’ clear height and an Early Suppression Fast Response (ESFR) sprinkler system. Shell work is scheduled for completion in March 2009.
“Our development platform partnership with KDC continues to work as planned. KDC has demonstrated their ability to identify well-located sites and design high quality, state of the art properties which tenants demand,” said Alan C. Fuller, senior managing director of HMC Unites States Real Estate.
Each of the buildings is designed to attain LEED-certification from the U.S. Green Building Council (USGBC), which promotes buildings that are environmentally responsible, profitable and healthy places to live and work.
In addition to the Austin project, KDC currently has a 50-acre industrial site under development in Houston on Highway 3 across from Ellington Field. Development is taking place in two phases. The first phase includes three buildings totaling 500,000 square feet with completion planned for late December. The second phase, to begin in 2010, will include two buildings totaling 320,000 square feet.
Brian Liverman, Scott Flack and Doug Thomas of Live Oak Gottesman, LLC will be representing KDC in the leasing of Northpointe Trade Center. KDC has selected Spring Valley Construction as the builder, Azimuth Architecture as the project architect and Garrett-Ihnen as the civil engineer.
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.kdc.com
About Harbert Management Corporation
Harbert® Management Corporation (HMCSM) is an investment management firm managing over $21.2 billion (as of Dec. 1, 2007) of assets and committed capital in 11 alternative asset classes in three areas of concentration: real estate, private capital and absolute return strategies. HMC is headquartered in Birmingham and has offices in New York, Richmond, Nashville, London, Madrid and Warsaw. For more information, visit www.harbert.net