Ascentris and Stream Realty Announce First Lease at Paloma Ridge – Building C
AUSTIN (October 14, 2019) – Ascentris, a Denver-based real estate private equity firm, and Stream Realty Partners, announced today the execution of a 27,326 square feet lease with Hewlett Packard Enterprise (HPE) at Paloma Ridge – Building C in North Austin.
Building C, totaling 165,714 square feet, is currently under construction and on track to deliver in 1Q-2020. Buildings A & B were originally developed by Stream Realty Partners, who is now developing Building C on behalf of Ascentris. The two existing buildings consist of 210,610 square feet and are 100% leased; Building C will bring the total square footage of the campus to 376,324 square feet.
Building C is three-stories, with large, flexible floorplates of 55K square feet and private terraces on the third floor. The design includes a high-end fitness center with spa-quality locker rooms, a one-mile jogging trail and outdoor amenity areas. Ascentris is seeking certifications from WiredScore and LEED to demonstrate its commitment to developing a smart, healthy and sustainable building.
“In designing Paloma Ridge – Building C, we understood the importance of the amenity base and connectivity the campus could offer tenants that are seeking to attract and retain talent,” said Ascentris Managing Director, Jeff Stonger, “We are excited to see that vision come to light and to welcome HPE to the campus.”
Stream Realty Partner’s Edvin Beasley and Scott Deskins are the leasing agents for the campus. Ford Alexander and Holliday Hinckley with Cushman and Wakefield represented HPE.
“We are pleased to welcome HPE to Paloma Ridge,” said Stream Managing Director, Edvin Beasley. “Companies like HPE demand more from their real estate and we’re happy to provide a sustainable and technologically advanced atmosphere for their new Austin home.”
Ascentris is a real estate private equity firm based in Denver, CO. With over $1.2 billion in assets under management, Ascentris manages a series of fully discretionary institutional vehicles targeting core and value-add investments across the major property types and geographic regions within the United States. Since 2003, Ascentris’ management team has relied on an investment philosophy and organizational structure that results in its investors getting to opportunities ahead of the market while receiving an unmatched level of service, transparency and accountability. Ascentris is a privately held and management-owned SEC registered investment adviser that maintains an unwavering commitment to put its investors’ needs first. Additional information is available at www.ascentris.com.
Stream is a commercial real estate firm with locations across the country. The company’s full-service offerings cover the broad spectrum of leasing, management, development, construction and investment sales services across the commercial real estate industry. In addition, Stream specializes in sourcing acquisition and development opportunities for the firm and its clients. Since its formation in 1996, Stream has grown from its two original partners to a staff of more than 750 real estate professionals nationwide, with regional offices in Atlanta, Austin, Charlotte, Chicago, Dallas, Denver, Fort Worth, Houston, San Antonio, San Diego, Southern California and Washington, D.C. Stream currently has more than 130 million square feet of assignments across the nation, completes over $2.4 billion in real estate transactions annually and is considered one of the most active investors and developers in the real estate industry. Visit www.streamrealty.com.