Rastegar Announces Plans for New, Post-COVID Office Development in Heart of Austin

Iconic East Austin Site will Feature State-of-the-Art Tech to Protect Occupants' Health and Well-Being

Austin, UNITED STATES


AUSTIN, Texas, Aug. 11, 2020 (GLOBE NEWSWIRE) -- Rastegar Property Company, a technology-enabled private real estate investment firm focused on value-add and development in all asset classes throughout Austin and the Southwest United States, today announced plans to develop a state-of-the-art office at 809 East 8th Street in Austin. The building, only blocks away from Downtown Austin, will offer cutting-edge design elements that address the post-COVID office space as well as represent Rastegar’s core values and approach to business.

Rastegar, as a company, believes strongly in wellness and human health, and the East 8th Street office development will carry those beliefs forward, as the new office will be designed to the WELL Building Standard.  In response to COVID-19, the building will feature numerous features to keep the facility safe from COVID-19 and other disease transmissions. Air Quality will be paramount, as increased filtration will be met by bipolar ionization, MERZ filtration or UV filtration. Offices have typically been designed to be hermetically sealed boxes over the last half century, but access to outdoor air with operable windows and sliding doors will increase air quality and the connection to nature.

In addition, a large porch creates space for employees to not only enjoy views and have social gatherings outside but also to work in an outdoor, shaded environment. Stairs will be located outside as well, reducing the cooling load and providing natural ventilation and UV light to that common touchpoint. Rastegar will lease the building and expects construction to be completed in late 2022.

“After COVID hit, we made it our priority to address safety and wellness concerns across all of the properties we were investing in, and our East 8th Street office really epitomizes all the elements we’ve come to realize are crucial in a post-COVID world,” said Ari Rastegar, Founder and CEO of Rastegar Property Company. “We understand that it’s the employees that enable any business to operate effectively, so it’s important to ensure their health. For this development, we wanted an office where tenants can be comfortable and offer a space that will truly blur the lines of building ‘type’ by including elements from home design, hospitality, healthcare and fitness.”

Other design elements include open work areas that will be spaced six feet apart so that social distancing can be maintained throughout the day and a larger focus on private offices will be used. Elevator controls – one of the most bacteria-ridden touchpoints in any building – will include toe-touch controls and antimicrobial materials. Parking will also be reduced as work from home options will be more available to staff going forward.

About Rastegar Property Company
Rastegar Property Company is a technology-enabled private real estate investment firm focused on value-add and development in all asset classes throughout Austin and the southwest United States. Rastegar and its affiliates have co-invested in or directly own and operate over 13.8 million square feet of real estate across projects in 13 states and 35 cities. The firm specializes in acquiring complex or undervalued assets with opportunities to create value through repositioning, redevelopment, and/or improved operational efficiencies.

Media Contact
Rob Kreis
FischTank PR
rastegar@fischtankpr.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/91d4dcac-9bb4-4939-bc95-e5c84638cc47


Rendering of Rastegar's East 8th Street Office