Chicago-based W.E. O’Neil to launch Austin office June 1

Chicago-based W.E. O’Neil Construction, a nationwide leader in the commercial construction industry, announced the official opening of its Austin office on Thursday, June 1. Members of the media will have the opportunity at the event to speak with W.E. O’Neil executives about the company’s Texas launch, their plans for the Greater Austin/Central Texas market and O’Neil’s steady growth since its founding in 1925.

In May 2022, W.E. O’Neil announced it had acquired Austin-based DCA Construction. DCA’s management team will remain in place and the firm will officially become W.E. O’Neil Construction on June 1. The Austin offices are located at 8868 Research Boulevard, Suite 500.

W.E. O’Neil, a 100% employee-owned firm, has completed several projects for longtime clients in Texas over the past decade. The firm brings a deep well of in-house resources, financial strength and nearly 100 years of construction expertise to the Austin commercial real estate and development market. With the DCA acquisition, O’Neil now has a total of 12 office locations in about 20 markets nationwide.

The Austin office will serve the entire state but will focus on penetrating the Greater Austin/Central Texas area’s multifamily, hospitality and retail segments, as well as counter-cyclical markets like aviation, healthcare, higher education and senior living. Goals for the local market are to generate $375 million in opportunities and secure $75 million in awards, leading to $100 million-plus in real 2023 backlog while achieving 10% consistent sales growth and at least a 60% net promoter score from clients year over year.

W.E. O’Neil has projects in progress across Texas, from Fort Worth to Austin to Corpus Christi. They include Junction 2035, a 14-acre site with 3,500 square feet of spec office and restroom build-out (Fort Worth); Kyle Retail, consisting of the construction of two retail shell buildings totaling 19,000 square feet separated by a lighted courtyard (Kyle); and Nordstrom Park Lane, the 27,000-square-foot interior renovation of an existing Nordstrom Rack store, including flooring, bathroom fixtures and finishes, mother’s room, dressing room partitions and finishes, breakroom, employee lockers and cash-wrap relocation (Dallas). O’Neil is also renovating Nordstrom Rack stores in Allen, San Antonio and Plano. Earlier this month, the Texas Department of Public Safety awarded the firm a contract to build a 13,000-square-foot vehicle licensing and registration/driver testing facility in Plano. A list of other notable completed projects can be accessed here.

In 2025, W.E. O’Neil Construction will celebrate its centennial anniversary. This year, in its 98th year of business, W.E. O’Neil expects to rack up annual revenue of more than $1.4 billion, which includes 80% repeat business.

The acquisition of DCA enables W.E. O’Neil to better serve clients by offering several additional resources, including full-time building information modeling (BIM) and virtual design and construction (VDC); preconstruction and estimating department with a staff of 15; mechanical, electrical and plumbing management; and marketing and business development. Over the past 12 months since the acquisition, W.E. O’Neil has hired five new employees and plans to hire more with a goal of 28 employees by 2025. Currently, the Austin office employs 19. The firm is actively recruiting project estimators, project managers and project superintendents. W.E. O’Neil Construction is an employee stock ownership (ESOP) firm, meaning it is 100% employee owned. Currently, O’Neil has approximately 503 employee-owners, 42% of whom have been with the company for more than five years. Its senior leadership team has an average of 30.3 years of industry experience.

Partners Real Estate lands industry veteran to oversee Central Texas

Partners Real Estate, formerly known as NAI Partners, has hired commercial real estate industry veteran Steve Druth as managing director of its Austin and San Antonio offices.

In his new role, Druth will lead the day-to-day operations of the company’s Central Texas offices, and focus on growing revenue, supporting the sales team, recruiting, providing office leadership and coordinating efforts with other offices and teams. Druth will report directly to Scott Lunine.

Prior to joining Partners, Druth accumulated 35 years of experience in commercial real estate brokerage, management and sales training. A previous agent at Marcus & Millichap in both Manhattan and Miami, Druth was also president and CEO of Druth Commercial Real Estate, focusing on investment sales and leasing. In that role, he became known for his leasing/marketing expertise and the high occupancy levels in his properties.

Most recently, Mr. Druth worked at Franklin Street, where he is based out of the firm’s Tampa headquarters. In addition to his role as a broker specializing in commercial investment sales, he was an accomplished commercial real estate coach, overseeing the development of 50 high-performing agents. In this role, he focused on helping the full-service commercial real estate firm grow throughout top metropolitan markets with the best professionals performing across all lines of business.

Austin office building in prime urban core location trades to new investor

JLL Capital Markets has closed the sale of and arranged the acquisition financing for Hartland Plaza, a 184,128-square-foot, Class A office asset located in the prime urban core of Austin, Texas.

JLL represented the seller, CIM Group. Additionally, JLL worked on behalf of the buyer to arrange acquisition financing for the transaction.

Built in 1984 and renovated in 2004 and 2017, the four-story Hartland Plaza is 92% leased with 4.4 years of WALT. The building is occupied by a diverse mix of 35 tenants that span 14 different sectors. Notable tenants include AQUILA, Zello, Rev, Munsch Hardt Kopft & Harr and Discovery Practice Management. The property includes a total of 633 parking spaces, which offers a ratio of 3.47 spaces per 1,000 square feet.

Situated at 1717 W. 6th St., Hartland Plaza sits at the intersection of West 5th and 6th Streets and MoPac (180,000 VPD), allowing convenient access to both the affluent neighborhoods of West Austin, including Tarrytown, Rollingwood and West Lake Hills, and Downtown Austin. It is within walking distance to over 15 bars and restaurants, Lady Bird Lake, the Roy and Ann Butler Hike and Bike and more first-class amenities. Additionally, Zilker Park, the University of Texas at Austin, Rainey Street and SOCO District are all within a 10-minute drive.

Partners arranges sale of 6,578-square-foot medical office building in Austin

Partners Real Estate arranged the sale of a 6,578-square-foot medical office property located at 11007 Ranch Road 2222 in Austin.

Partners’ Tyler Jaynes, Ryan McCullough, Connor Watson and Sean Anderson represented the seller in the transaction.

Partners arranges two retail leases in Austin

Partners arranged two leases totaling 5,000 square feet of retail space at Trails at 620 located at 8300 North FM 620 in Austin.

Freebirds World Burrito inked a lease renewal for 3,500 square feet of space, and Pro T’s, LLC linked a lease renewal for 1500 square feet of space.

Partners’  Kevin Murphy represented the landlord, Partners Capital in both of the transactions.

Kroger opens delivery service center at Dalfen Industrial facility in Austin

Dalfen Industrial recently completed Tuscany Logistics Center in Austin, and congratulates Kroger on their grand opening of their delivery service center. They have leased a 70,000-square-foot building for six years. Tuscany Logistics Center was developed by Dalfen Industrial and includes three new, Class A distribution centers totaling 373,648 square feet. The other two buildings have been leased by Target and Diligent Delivery.

Tuscany Logistics Center is located in the northeast Austin industrial submarket, providing a great location to service both Austin and San Antonio. This development has great access to the metro’s major thoroughfares such as I-35, US-183, US-130, and US-290. It is also located in close proximity (3.5-miles) to the Austin-Bergstrom International Airport.

Dalfen Industrial owns and operates nearly 1.8 million square feet of industrial properties in the Austin market.