2300 South Lamar
Symcox Development Company is general partner of a Limited Partnership that was formed to purchase, market and develop the 1 acre commercial site at 2300 South Lamar Boulevard in Austin. Jay Symcox led the effort to capitalize on this commercial retail development opportunity, recognizing a good property value and demand for additional retail/commercial space along this busy corridor.
At the time of the development of 2300 South Lamar the business corridor was still underdeveloped and overlooked by most. Symcox recognized this but also knew the market was not ready for a high end development but would certainly be ready some day. He designed an economically viable flex type building that provided retail store fronts and exposures on prime visible locations and small business service center bays in less visible areas. Using attractive yet economical exterior materials he designed the building structure for the long term. He was able to build a building that was very successful in the low rents of the time but whose skeleton would be easily upgradable to take advantage of the market when it changed. His Site planning expertise increased the property’s buildable square footage to 14,500 nearly double of previous development plans. 2300 South Lamar was completed in 1999 and has been fully leased during most of its entire operating life.
In 2009 the South Lamar Corridor had exploded in growth. At that time Symcox hired Michael HSU a progressive and innovative Architect who had been gaining accolades for his cutting edge designs on inner city re-developments. Symcox commissioned Hsu to bring the building into the Millennium architecturally and increase its curb appeal, street presence and functionality for much higher retail uses. Hsu Came up with an outstanding plan that accomplished it all and in the summer of 2010 SDC completed the renovation and re-tenanting of the center. Renovation Costs were under $20 PSf and rents increased over 35% from 2009 to 2011.