Walton Street Capital, LLC recently announced that one of its affiliates had acquired Eastlake at Tillery, a newly developed property located in the highly desirable submarket of East Austin, Texas. The purchase was made in partnership with Cypress Real Estate Advisors, Inc. (CREA). No transaction price was specified in the announcement.
Located at 3212 East Cesar Chavez St., Eastlake at Tillery includes two three-story buildings that together incorporate roughly 172,400 square feet of class A Austin office space. Completed last year, the property includes an above-ground, structured parking garage and features abundant outdoor space with seating areas, as well as a permanent airstream food trailer. On-site amenities include private tenant patios; a fitness center with showers; bike storage; a shared conference facility; and bright lobbies with seating and an abundance of plants.
Notably, Eastlake at Tillery is home to the first Work & Mother suite in Austin — a third-party service that helps create, equip and operate lactation rooms for commercial properties. Eastlake at Tillery has partnered with Work & Mother to operate an on-site suite complete with private pumping rooms; a cleaning and sanitizing station; refrigeration; and medical-grade equipment, as well as a host of support resources for working parents.
CREA broke ground on the project in 2019 and partnered with: Delineate Studio for the design of the LEED-proposed project; Blacksmith Collaborative as landscape architect; Harvey Cleary as general contractor; and Epic Project Management Group as project manager.
Modern design features include integrated touchless access and passage through the property with custom-designed, app-based software, and more than 6,000 square feet of open area is dedicated to facilitate group gatherings for safe and comfortable collaboration. Meanwhile, the property’s clean standard also includes touchless bathroom fixtures and furnishings, as well as antimicrobial materials to help prevent the spread of germs via touch in areas where it cannot be avoided.
Located three miles southeast of downtown Austin, two miles from Interstate 35 and less than five miles from Austin-Bergstrom International Airport — in addition to featuring state-of-the art design and functionality — the property drew plenty of tenant interest. In July 2021, CREA secured a full-building lease with Skyworks Solutions Inc. at Building Two, with AQUILA Commercial representing the landlord, while Newmark worked on behalf of Skyworks. Several months later, JLL worked with AQUILA on behalf of Canva to lease 36,932 square feet of office space in Building One.
“Eastlake at Tillery meets Walton Street’s strategy of targeting differentiated, high-quality product in growth markets,” said Stephen Sotoloff, senior principal at Walton Street. “We are excited to expand our portfolio to Austin with an asset featuring strong tenancy and unique, mission-critical space.”
“We are thrilled about the addition of this Class A office property to our portfolio and our new partnership with CREA,” said Tom Jaeger, principal at Walton Street. “Eastlake at Tillery is designed to meet the needs of Austin’s dynamic tenant landscape with its forward-thinking design and campus-like setting, which attracted a high-quality tenant roster even prior to building completion.”