Rehab Firm Takes Plaza's Last Opening

AUSTIN-A physical therapy firm has taken the last vacancy in Shoal Creek Plaza with the lease of 4,500 sf to expand its rehabilitation offices.

David Alsmeyer, sales manager for Kennedy-Wilson International’s Austin office, said the move from its previous 3,600-sf office into the MoPac Freeway and Anderson Lane plaza allowed Progressive Rehab to increase its size by 25%. “It was the last vacancy and they are 100% leased,” Alsmeyer tells GlobeSt.com of the 150,000-sf center along Shoal Creek Boulevard, also home to several restaurants, a leather store and health club.

Alsmeyer said he could not disclose the terms of the lease, but office space in the 150,000-sf plaza generally rents for between $15 per sf and $18 per sf. The deal was brokered by Matt Lutz, also of Kennedy-Wilson, and Stan Shultze with Stanberry & Associates. who bargained the deal for the building owner, Aberfeldy Ltd.