Land Creek Development - Plaza North

12319 North Mopac Expressway
Austin, Texas 78758

Land\Creek Development ("Land\Creek") is an Austin-based, full-service commercial development firm, specializing in high quality office projects that are sold in whole or part to medical and professional office users.

Construction is now complete on Land/Creek’s latest project, "Plaza North" office building. The architecturally-unique medical and professional building is located adjacent to St. David’s North Austin Medical Center, in Austin, Texas. The award-winning Sixth River Architects designed the 36,000 s/f three-story office building, which includes a covered garage below the main level.

Land\Creek's development and sales model, in practice since 1993, offers physicians and other professionals the opportunity to purchase and custom design their office space in lieu of a traditional leasing approach. Medical practices and other "stable-size" firms find that ownership of their business real estate provides payments which are lower than market lease rates; eliminates lease renewal uncertainties; and creates equity in an asset which is independent of their business operations.

Area Summary

The Plaza North project address is 12319 North Mopac Expressway, Austin, Texas, 78758. The property is part of a mixed-use commercial project, highly-visible on the east frontage road.

The adjacent St. David's North Austin Medical Center (www.northaustin.com) is a 775,000 s/f, 332-bed full-service regional hospital, with over 1,000 registered physicians. In 2009, St. David's completed an $83 million expansion that created the largest women's health center in the central Texas region. St. David's was recently recognized as one of the top 20 large community hospital systems in the nation.

A highly concentrated "mini-city" is also taking shape in the area with the upscale "Domain" lifestyle center. It is designed to include 2,000,000 s/f of retail, 4,000,000 s/f of office, 5,000 apartment and condominium units, and an adjacent light rail station. In addition, the nearby IBM campus currently encompasses 1,000,000 s/f of office space with over 4,000 employees.

According to the Texas Department of Transportation, more than 150,000 vehicles daily pass by Plaza North on North Mopac. With the recent opening of the new toll road, Mopac is now the major north/south axis for the region's population and the preferred route for those traveling to and from central Austin from the north Austin, Pflugerville, Round Rock, and Georgetown areas.

The property is accessed north-bound by taking the "Parmer Lane" exit (direct off-ramp and on-ramp access). Parmer is the last "free" on-off exit prior to entering the Loop 1 Tollway. South-bound access is via the "Duval" ramp. Current access to St. David's Hospital from the property is via "Tomanet Trail" from Parmer Lane; future hospital access will be through the adjacent development parcel pursuant to the City of Austin's connectivity ordinance.

Property Summary

The property is developed into a unified site plan comprised of three improved commercial building pads. The three pads and their associated landscape and parking improvements are administered by a commercial condominium regime. All site improvements, utilities, and storm water management facilities have been installed and approved by the City of Austin.

Three architecturally unique buildings comprise the project:

PlainsCapital Bank - 6,000 s/f "flagship" bank facility
Texas MedClinic - 8,000 s/f state-of-the-art urgent care center. Texas MedClinic was the 2009 and 2011 recipient of the Austin Chamber of Commerce Small Business Customer Service Award.
Plaza North office building - 36,000 s/f 3 story office building with an under building garage. The architecturally unique office building was designed by the award winning Sixth River Architects and it is now ready for custom finish-out.

The tract immediately adjacent to Plaza North has an approved City of Austin site plan for a bank facility and a 70,000 s/f medical office building. Site work has not commenced. Based on discussions with the adjoining property owner we anticipate that the Plaza North office building will be fully complete prior to their groundbreaking.

Combined Existing and Proposed Site Plans

Plaza North Office Building Summary

The 36,000 s/f three-story office building includes a single level parking garage below for reserved and covered parking. Construction is underway with the shell building forecast for completion in September 2011. Afterwards, the owners or tenants will begin the interior finish-out of their custom designed new offices. Each floor "plate" will consist of +/- 12,000 s/f (gross) of "shell" office. Building construction will be a steel structure for the second and third levels, constructed above a concrete parking level and main floor. Exterior finish materials will be a combination of brick and locally-quarried "Leuders" stone, with an "Alucobond" (aluminum) fascia at the third level. Windows and doors are specified as an aluminum frame "storefront" system, with exterior ornamentation and awnings in galvanized steel.

Each floor of the Plaza North office building will have fully-finished elevator lobby areas and multi-tenant corridors. The main (entry) level will also have fully finished multi-tenant restroom facilities.

Project Developer

Land\Creek Development (www.landcreek.com) is an Austin-based, full-service commercial construction and development company. Over the years, they have carved out a competitive niche in the Austin market with in-house expertise in environmentally sensitive designs and comprehensive project management. They work with nationally recognized architects, using natural materials and site-specific design, to break traditional commercial-building stereotypes and capture the essence of Austin.

Since its inception, Land\Creek Development has developed, constructed, and sold 15 commercial projects, totaling over a quarter-million square feet. Land\Creek serves as the construction liaison from the commencement of the land development process, through the completion of construction, tenant move-in, and association management. They offer highly competitive pricing due to in-house management of the site analysis and design process; the land entitlement process; the installation of site infrastructure; the custom design of site specific structures; the construction management process; the sales and leasing process; and ongoing property management through its subsidiary, Creekside Management. Our 30+ years in the construction business in Austin provides an assurance of financial strength, reliability, stability, and consistency.

Please contact the project director for more information:
(512) 328-8154

No warranty or representation, express or implied, is made to the information contained herein, and same is submitted subject to errors, omissions, change of price, rental, or other conditions, and withdrawal without notice.