Press Release: Compass Bank Expands Austin Area Headquarters
Sep 26, 2008
Aquila Commercial
AUSTIN, TEXAS - Compass Bank has signed an agreement to serve as the lead tenant in a new office called Capstar at Compass Plaza. The bank will relocate from its current Hartland Plaza location and move to the new Capstar location in September of 2009.
Compass Bank has pre-leased approximately 33,065 square feet that includes about 28,965 square feet of office space and 4,100 square feet of ground floor retail space. The bank anticipates occupying the entire fifth floor of the eight-story building.
"Compass Bank is enthusiastic about the region's future and confident in Austin's long-term growth potential," said John Jett, Compass Bank's Austin city president. "We appreciate the many environmentally friendly features incorporated into our new namesake building, and feel confident it will make an ideal home for our Austin area headquarters for many years to come."
Capstar at Compass Plaza began construction on July 18, 2008. The project is located at the western entry point to downtown Austin, off the southeast corner of Fifth Street and MoPac Expressway. Currently, Capstar at Compass Plaza is 99 percent pre-leased. In addition to Compass Bank, a trio of companies affiliated with Austin-based Capstar Partners, LLC have pre-leased approximately 82,000 square feet in the new building.
Jay Lamy and Sloan Spaeth served as Compass Bank's tenant representatives in securing Compass' lease in the new building. Capstar at Compass Plaza's landlords were represented by Bart Matheney, Mike Murphy and Chad Barrett, principals with Aquila Commercial.
"Compass Bank needed a central location with efficient floor plans to foster its growth in the coming years, and Capstar at Compass Plaza provides them that opportunity with added perks like ample parking and other conveniences," Lamy said.
About Aquila Commercial
Harkening the powerful and noble Aquila eagle, Aquila Commercial LLC is a full-service commercial real estate firm based in Austin, Texas. Launched in January 2007, a group of six core founders have a combined total of more than 80 years of direct industry experience working for major national companies from CB Richard Ellis to the Trammell Crow Co.
Recognized by their peers and publications as some of the top producers in their respective disciplines, Aquila Commercial seeks to emulate the Aquila eagle's reputation for flying higher and maintaining the sharpest vision. For more information, please visit: www.aquilacommercial.com.
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