Boustead Client, Rastegar Property, Announces Plans for New, Post-COVID Office Development
Iconic East Austin Site will Feature State-of-the-Art Tech to Protect Occupants Health and Well-Being
Boustead Securities, LLC (“Boustead”) client, Rastegar Property Company, (“Rastegar”), 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, aims to offer first-of-its kind 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 is intended to be designed to the WELL Building Standard. In response to COVID-19, the building aims to feature numerous features to keep the facility safe from COVID-19 and other disease transmissions. Air Quality will be paramount, as increased filtration is expected to 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 is expected to 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 likely be located outside as well, reducing the cooling load and providing natural ventilation and UV light to that common touchpoint. Rastegar intends to 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 is expected to be spaced six feet apart so that social distancing can be maintained throughout the day and a larger focus on private offices is expected to be used. Elevator controls – one of the most bacteria-ridden touchpoints in any building – will likely include toe-touch controls and antimicrobial materials. Parking will likely also be reduced as work from home options will likely be more available to staff going forward.
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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. For more information, please visit our website at www.rastegarproperty.com. About Boustead Securities, LLC Boustead Securities, LLC (“Boustead”) is an investment banking firm that executes and advises on IPOs, mergers and acquisitions, capital raises and restructuring assignments in a wide array of industries, geographies and transactions, for a broad client base. Boustead’s core value proposition is the ability to create opportunity through innovative solutions and tenacious execution. With experienced professionals in the United States, Boustead’s team moves quickly and provides a broad spectrum of sophisticated financial advice and services. Boustead is a majority owned subsidiary of Boustead & Company Limited, a diversified non-bank financial institution. For more information, please visit www.boustead1828.com. Forward-Looking Statements This document contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this document and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this document and other statements made from time to time by us or our representatives might not occur.