San Francisco, CA – May 1, 2015 – Drawbridge Realty announced today the signing of a new seven-year lease with Younicos AG for approximately 32,500 square feet at 3100 Alvin Devane in Austin, Texas. Younicos AG is a global leader for intelligent storage and grid solutions within the clean energy industry, and will be using this space as its United States headquarters and product demonstration location.
“Drawbridge Realty is very excited to have Younicos AG anchor 3100 Alvin Devane. This lease demonstrates the need for a well-designed functional office/R&D space that is five minutes from Bergstrom International Airport and Downtown Austin,” said Chris Elmendorf, Vice President of Investments for Drawbridge Realty.
Drawbridge Realty commenced a multi- million-dollar redevelopment of the 71,375 square foot building in December 2014 with completion scheduled for May 2015. The redevelopment converts a former industrial flex building into a highly desirable, modern office space. “By understanding the needs of the tenants in the Austin marketplace, we created a redevelopment plan that essentially delivers a new building. With Younicos AG recognizing this prior to completion, we are very excited about the potential for the remaining space and our ability to provide a creative office space solution that addresses the continued demand for space at a fraction of the cost of being downtown,” said Mike Embree, Vice President of Asset Management at Drawbridge Realty.
According to lead architect, Stephen Levy, AIA Levy Architects, “We were charged with updating an outdated 1980’s style building and giving it a modern look and feel with lots of natural light, wide open workflow spaces as well as energy efficient design details throughout. Our team was given the freedom to let the design drive the decisions, versus having to compromise the design because of existing structural contingencies.”
The renovated building also includes two spacious lobbies, each featuring staircases, an open architecture and new glazing on existing internal wall panes, giving the interior an intentionally un-polished aesthetic along with a new roof, 30 energy efficient windows, and all new mechanical systems throughout.
The project was designed by LEVY Architects, PLLC with Structura, Inc. as the selected general contractor for the project. Marketing the project on behalf of Drawbridge Realty are Kevin Granger and Matt Frizzell with Peloton Commercial Real Estate.
About Drawbridge Realty, LLC
Drawbridge Realty, LLC is a San Francisco-based real estate investment and development company that targets commercial property investments predominantly in select markets across the western United States with a current portfolio comprising over two and a half million square feet. The firm pursues properties suited to large corporate tenants, with an emphasis on fully occupied buildings, as well as properties that are ready for new development, redevelopment, or conversions to higher and better uses. The current portfolio is comprised of properties located in the Silicon Valley; San Diego; Austin, Texas; and Salt Lake City, Utah. Drawbridge has completed transactions with major corporations including Broadcom, Google, Johnson & Johnson, L-3 Communications, Lockheed Martin, Medtronic, National Instruments, Northrop Grumman, and Unisys. Learn more at www.DrawbridgeRealty.com.
About LEVY Architects, PLLC
An Austin based full service architecture firm with expertise in master planning, land planning, and sustainable design for Commercial, Corporate, Public, Multi-Family, Ranch, Residential, Hospitality and Industrial needs. Marrying the aesthetic with the pragmatic nature of all architectural projects, LEVY Architects, PLLC represents a new kind of design firm. The company, founded in 2003, Stephen V. Levy, AIA, recognizes and rewards each architect’s contributions regardless of seniority. This model has positioned the company as one of the fastest growing firms in Austin. See recent projects and more at www.levyarchitects.com.
About Peloton Commercial Real Estate
Founded in 2002, Peloton Commercial Real Estate (Peloton) is one of the leading full-service commercial real estate companies in Texas. Comprised of highly qualified and experienced professionals, Peloton utilizes its superior market expertise and a broad array of service offerings to effectively and successfully realize its clients’ real estate goals. Peloton is currently operating in 5 cities within Texas with over 150 employees, between Dallas/Fort Worth, San Antonio, Austin and Houston. Peloton’s current portfolio consists of 26 million square feet of office, industrial, retail and mixed-use leasing projects and 12 million square feet of property management. For additional information, please visit www.pelotoncre.com.
About Structura, Inc.
Structura is a Texas based General Contractor with offices in Austin, Houston and Dallas. Specializing in all types of commercial construction, Structura provides design- build, construction management and traditional construction services throughout the State of Texas. Founded in 2006 by Rusty Morgan and Kevin Jones, Structura has experienced rapid growth and success through its commitment to exceed client’s expectations and build lasting relationships on every project. For more information, visit www.structurainc.com.