Compass Signs Lease at Stonebridge on North Mopac

Compass opened another office in Austin this week amid ongoing recruitment efforts that added an entire statewide brokerage to its roster.

The nation’s largest residential real estate brokerage leased 12,000 square feet on the fifth floor of the building at 9600 North Mopac Expressway, according to a press release. The lease consolidates two smaller offices but grows Compass’ cumulative office space in Austin, according to managing director of sales John Coake.

“We’ve been pretty consistent in agent growth,” Coake said. “We’ve been expanding outside of just Austin. We’re seeing growth all the way down from here to San Antonio and in between, and then all the way up to Temple also,” Coake said.

The formerly independent Temple-based brokerage Vista Real Estate joined Compass last July, bringing 60 agents to the brokerage. In May of this year, the Bray Real Estate Group, another formerly independent brokerage headquartered in Dallas, brought more than 100 agents statewide to Compass when it joined. About 25 of those agents work in Austin, Coake said.

Dubbed Stonebridge, the two-building office campus is on the northeast side of Austin. Stonebridge Plaza I & II Texas LLC, an entity of Boston-based Intercontinental Real Estate, owns the 690,500-square-foot building at 9600 Mopac, according to public records. Built-to-rent developer Wan Bridge and homebuilder Landsea Homes have leases in the same building, according to LoopNet. Prominent tenants elsewhere in the complex include Roku, which occupies the building at 9606 Mopac.

Compass now operates three offices in Austin following the consolidation and new lease, Coake said.

The brokerage has been beefing up its agent count statewide. In February, it absorbed Dallas-based Rogers Healy and Associates Real Estate, a formerly independent brokerage with about 400 agents, and expanded its office space in Fort Worth after a recruiting spree that netted three small luxury teams from other companies within six months.