Press Release: CarrAmerica Realty Corporation
September 18, 2001
WASHINGTON, DC -- CarrAmerica Realty Corporation (NYSE: CRE) yesterday announced that Leddy/Nueces-Hill Hospitality,
LLC has purchased a land parcel at Braker Pointe in Austin, Texas from CarrAmerica and will be developing a 230-room,
full service Hilton Suites interior atrium hotel on the site.
CarrAmerica Managing Director for Austin, Jeff Pace, commented, ``Drake Leddy is a veteran developer who is known
for developing first-class projects.'' Mr. Pace continued, ``His holding company, Leddy Ventures Limited, recently
won Hilton's '2000 Developer of the Year award,' and his Doubletree Hotel and Conference Center in Legacy Town
Center was awarded the 1999 Dallas Business Journal's 'Deal of the Year Award.' His involvement with the Hilton
Suites project will definitely position Braker Pointe as one of the most unique mixed use developments in North
Austin.''
Drake Leddy of Leddy/Nueces-Hill Hospitality, LLC commented, ``CarrAmerica is one of the premier office developers
in the country, and we are pleased to be associated with them at the Braker Pointe project. We sincerely hope that
this will be the first of many successful collaborations.''
Braker Pointe is a 28-acre mixed-use development located at the intersection of North MoPac Expressway and Braker
Lane consisting in part of three Class-A buildings totaling 360,000 square feet. The 192,451 square foot Building
Three, owned and managed by CarrAmerica, was recently leased and occupied by Harcourt, Inc. Buildings One and Two,
75,000 and 100,000 square feet respectively, are currently under construction in a development joint venture between
McShane Corporation and Pacific Realty Trust. Braker Pointe is also the location of the recently renovated, historic
Edward Rogers home.
CarrAmerica owns, develops and operates office properties in 12 markets throughout the United States. The Company
is committed to becoming America's leading office workplace company by meeting the rapidly changing needs of its
customers with superior service, a large portfolio of quality office properties, extraordinary development capabilities
and land positions. CarrAmerica is a leading office innovator with interests in and strategic relationships with
companies including: HQ Global Workplaces, a global leader in executive office suites; e'ssention, the engine behind
InfoCentre, a web-based operations and issues management platform and DukeSolutions, a Duke Energy subsidiary providing
comprehensive energy management programs.
Currently, CarrAmerica and its affiliates own, directly or through joint ventures, interests in a portfolio of
287 operating office properties and have eight office buildings under development in six key growth markets. CarrAmerica's
markets include Atlanta, Austin, Chicago, Dallas, Denver, Los Angeles/Orange County, Portland, Salt Lake City,
San Diego, San Francisco Bay Area, Seattle and metropolitan Washington, D.C. For additional information on CarrAmerica,
including space availability, visit CarrAmerica's web site at http://www.carramerica.com
.
SOURCE: CarrAmerica Realty Corporation