NEW BRAUNFELS, Texas – PNC Bank has leased Parkview Plaza, a newly completed 58,574-square-foot Class A office building in New Braunfels.
The building was developed by San Antonio-based Koontz Corporation, which is also developing an additional 47,000-square-foot office building nearby.
Headquartered in Pittsburgh, PNC is one of the largest diversified financial institutions in the United States. The company will operate a new operations center in the Parkview Plaza building and expects to employ up to 550 people when the center reaches full capacity.
“We’ve been actively developing and investing in New Braunfels since we first established Sundance Business Park,” said Koontz President and CEO Bart Koontz. “This community, long known for its excellent quality of life, is increasingly recognized as a prime business location. Its position along the IH-35 corridor, close proximity to Austin and San Antonio, and access to a well-qualified workforce make it an ideal spot for companies expanding or relocating to Texas.”
PNC Bank was represented in the transaction by Andy Strand of JLL Commercial Real Estate’s Chicago office, along with Jeff Miller and Ben Jordan from JLL’s San Antonio office. Koontz Corporation was represented by Loren Gulley, the company’s Vice President of Development, and Mike Ybarra of New Braunfels-based Legacy Commercial Real Estate.
Parkview Plaza is located at 2049 Sundance Parkway, just off FM 306 and roughly one mile from IH-35. Koontz completed the project in 2018.
Since its founding in 1997, Koontz Corporation has developed more than seven million square feet of commercial property. The company also has two apartment communities currently under construction: Palmetto Pointe Apartment Homes in San Antonio at 4835 USAA Boulevard, and Encino Trace in College Station.
Oct. 25, 2019 – Realty News Report. Copyright 2019.
Read the new book by Ralph Bivins, Editor of Realty News Report
Houston 2020: America’s Boom Town – An Extreme Close Up
Available on Amazon