Building of Falconhead Offices advances

Six buildings will comprise 80,000 square feet of general, medical office space.

Falconhead Offices, featuring 80,000 square feet of general and medical office space located off RM 620, will undergo construction through the summer and will be ready for occupancy by the last quarter of this year, St. Croix Capital Advisors officials say.

The six office buildings, which will either be one to two stories, are being constructed on a 6.7-acre lot adjacent to 7.9 acres of neighborhood retail space, collectively known as the Gateway to Falconhead development in Bee Cave at the entrance to the Falconhead subdivision.

The 47,000 square feet of retail space is under construction and will be leased to tenants including Bon Sushi, Banc Corp South, Westbank Dry Cleaners, Wild Orchid Salon, Village Vet and Epic Nails Salon.

“We’ve had very strong activity before we even went under construction on our retail center,” St. Croix partner John Collins said. “Tenants include three restaurants, a pharmacy, a nail salon and hair salon, and a vet.”

Collins said the first tenant is scheduled to move into the retail center this August. He is optimistic about the demand for both retail and office space at that location.

“The retail provides needed amenities to the surrounding growing area, which is currently underserved from a retail perspective,” Collins said. “There’s a lot of population growth that you have — there are multiple nice neighborhoods growing off of Hamilton Pool Road, at least three, and a lot of residential development in Rough Hollow moving out to Spicewood, and all of the lots available throughout Lakeway and Bee Cave and Spanish Oaks ... it’s trying to be self-sustaining, and it’s a great community (with) good demographics and fantastic schools.”