AUSTIN, Texas, March 27, 2019 /PRNewswire-PRWeb/ -- World Class Property Company, one of the nation's largest privately-owned real estate investment firms, announced today it has closed on the acquisition of the Offices at Stonelake, a five-building, 123,761 square-foot office project located less than a mile from the Domain in northwest Austin, Texas.
The Offices at Stonelake is situated on 8.3 acres along Braker Lane between Stonelake Blvd. and MoPac. The office complex is part of the Quarry Business Park, a mixed-use development featuring restaurants, fitness center, hike and bike trails and access to Quarry Lake. It is located directly across MoPac from the Domain, and provides ease of access to many of Austin's most traveled thoroughfares.
"The demand for office space in Northwest Austin, from growing technology and software companies, continues to outpace supply," said Nate Paul, President and CEO of World Class. "Stonelake is a great fit for our value-oriented investment philosophy and long-term investment horizon. We are pleased with this acquisition that increases our position as the market leader for office space in Austin."
World Class plans to enhance the tenant experience with property upgrades and renovations as space comes available. Current tenants in the Offices at Stonelake consist of primarily technology companies.
The Offices at Stonelake is located approximately 1 mile from Arboretum Crossing, another recent acquisition by World Class Property Company.
About World Class Property Company
World Class Property Company is a privately-held, diversified real estate investment company headquartered in Austin, Texas. World Class owns, operates and develops office, retail, multifamily, industrial, mixed-use, hospitality, and self-storage assets.
The company's portfolio of development sites in unparalleled, with entitlements for over 75 million square feet of potential development in its existing holdings in the nation's most dynamic markets.
World Class Property Company is committed to the long-term ownership of a high-quality portfolio, and a disciplined approach to actively managing our properties to create long-term value. World Class' ability to prudently acquire, develop and operate assets in high-growth markets is unmatched in the industry. Additional information can be found at http://www.worldclassproperty.com.
World Class Property Company is a subsidiary of World Class Holdings. World Class Holdings is a multi-billion dollar holding company that owns a diverse portfolio of assets and operating companies. World Class utilizes proprietary processes, a disciplined operating playbook, and a data-driven approach to creating long-term value at its companies. World Class has mastered the art of scaling businesses while maintaining an entrepreneurial culture. Additional information can be found at http://www.world-class.com.
Contact:
Anthony Gallegos
512-327-3300
[email protected]
SOURCE World Class
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