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Patrinely, USAA Break Ground on Austin BTS

A joint venture between Patrinely Group and USAA Real Estate launched construction on Aspen Lake Three, a 128,990-square-foot build-to-suit office development in Austin. Q2 Holdings, which occupies part of Aspen Lake One and all of Aspen Lake Two, will occupy the entirety of the new development.

“Breaking ground on Aspen Lake Three reinforces our long-term relationship with Q2, and we are delighted to begin development on another building that will meet the needs of the company’s long-term operations,” said Robert Fields, president and CEO of Patrinely.

In 2011, Patrinely and USAA Real Estate acquired the then-vacant Aspen Lake One and two adjoining land parcels. After leasing Aspen Lake One to full occupancy, including a lease to Q2, Patrinely developed Aspen Lake Two in 2015.

JLL’s Will Douglas, Russell Young and Harrison Schuhmacher represented the tenant. The landlord was advised by Dennis Tarro of Patrinely and Ben Tolson with AQUILA Commercial.

Pictured: Aspen Lake Two.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Development
  • ◦Lease