Bank of America Tower
The sale of Bank of America Tower, which has been in the works since last fall, is about to close, according to an article released by the Austin Business Journal. Dallas-based Stream Realty is set to purchase the 26-story downtown tower located at 515 Congress Avenue which has been owned by T. Stacy & Associates. The sale price was not disclosed but the property is valued by the Travis Central Appraisal District at more than $70 million. …Read Entire Post
In a nod to Austin’s promising economic future, Austin-based Endeavor Real Estate Group and Granite Properties plan to start construction soon on a 220,600-square foot office campus in northwest Austin — the first major office project to launch in the area in almost five years.
Champion Office Park is slated for the northwest corner of RM 2222 and Capital of Texas Highway (Loop 360). The project will have two four-story buildings, one with 116,800 square feet and the other with 103,800 square feet, Endeavor officials told the American-Statesman. …Read Entire Post
Barton Oaks Plaza
Barton Oaks Plaza (99,404 sf), located in the Southwest sector at 901 South Mopac Expy., has recently been acquired by California-based MIG Real Estate. The Class A office building was reportedly 96% leased at time of sale. …Read Entire Post
River Place Corporate Park
VMware Inc. leased 50,000 square feet at River Place Corporate Park, 6500 River Place Blvd., for a second location. Other tenants of River Place include Motorola, ShoreTel and Edge of Reality. Headquartered in Palo Alto, Calif., VMware Inc. opened its first Austin office in 2006 and employs about 500 workers.
Click to read entire article: Real estate roundup (Austin Business Journal, 11-21-12)
Rumors had WhaleShark Media Inc. moving into the signature space at the Seaholm Power Plant project, but in the end, the online coupon giant decided to stay in the same downtown Austin building where it has been located since 2011 — 301 Congress Ave. WhaleShark executives signed a lease for 95,000 square feet – 60,000 square feet more than the company currently occupies.
Click to read entire article: WhaleShark Media signs big lease downtown (Austin Business Journal, 11-20-12)
Austin Telco Federal Credit Union recently purchased the Balcones Centre (75,422 sf) – a multi-tenant, Class A office building located at 11149 Research Blvd. in North Austin. Austin Telco will at some point in the future move its corporate offices which currently reside at 8929 Shoal Creek Blvd. into the Balcones Centre building.
Click to read entire article: Austin Telco buys a new HQ (Austin Business Journal, 11-16-12)
300 W 6th St.
Thomas Properties Group Inc. and the California State Teachers’ Retirement System (CalSTRS) recently acquired an eight-building office portfolio totaling roughly 3 million square feet located in downtown and suburban Austin valued at $859 million (or about $286.33 per sf). …Read Entire Post
General Motors Co. (GM) announced its technology center in Austin will operate in the former Dell Inc. building located at 717 E. Parmer Ln. (320,597 sf). The facility, which is expected to employ some 500 workers, is situated at the Tech Ridge Blvd. intersection and features a full-service cafeteria, dual power feed and three volleyball courts.
Click to read full article: GM tech center to go in former Dell building (Austin Business Journal, 9-18-12)
San Antonio developer Koontz McCombs plans to develop Encino Trace, comprised of two identical Class-A office buildings spanning 320,000 square feet on 54 acres at 5707 Southwest Parkway in Southwest Austin.
Click to read entire article: Two large office buildings pegged for SW Austin (Austin Business Journal, 9-14-12)
Another Austin tech company is moving downtown. Mass Relevance, a fast-growing social media marketing startup, has leased 12,000 square feet at 800 Brazos St. The space is more than double the size of the company’s current offices at Braker Lane and North MoPac Boulevard (Loop 1). The company is planning a November move-in date.
Click to read entire article Fast-growing startup Mass Relevance set to move to new downtown offices (Austin American-Statesman, 8-27-12)