Accesso Snags Loan Extension For Class-A Office Campus In Austin

Florida-based property owner Accesso Partners has secured a three-year loan extension for the expansion of its Class-A office campus in Austin, the company announced in a press release on March 9.

The office complex, 7700 Parmer, sits next to Apple’s Parmer Lane office campus and spans more than 911K SF, including four fully amenitized buildings.

It is the fourth-largest office campus in the Austin metro area, according to the Austin Business Journal.

The extension of the loan includes a reserve of more than $40M, the release stated, which will be used to renovate the property, construct spec suites and support recent leasing momentum.

The original loan Accesso had for the site, a $177M commercial mortgage-backed securities loan, had gone into special servicing in August 2025, sparked by a drop in occupancy, Commercial Observer reported. It was due to mature in December.

The complex's second-largest tenant, eBay, had reportedly dropped its footprint by 50%, and tenant Dun & Bradstreet had left entirely, leaving the building with a 74% occupancy rate.

Previous campus tenants included PayPal, Electronic Arts and Polycom. 

In addition to the loan extension, 7700 Parmer has been approved for mixed-use rezoning. Accesso aims to begin construction on multifamily and retail for the development in 2027, per the release. 

The company said it will add residential, hotel and retail assets to the property due to its strategic location in the tech hub of Northwest Austin. Additionally, the company stated it has signed vendor Eurest to bring a café to the property next month.

Because the project includes several different components, it will take “several years” to fully complete, Accesso said.

The office complex is already known for its rich amenity offerings, including an auditorium, a café, fitness centers, sports fields and courts, and a daycare center. Some of these will be updated during renovations, as will lobbies and corridors.

Accesso first developed 7700 Parmer in late 2015 for $275M.

The campus is part of the Parmer Lane Tech Corridor, which spans Northwest to Northeast Austin, and has long been home to office campuses of companies such as Apple, General Motors, Samsung Electronics and 3M. 

More recent additions to the corridor include the 297-acre Parmer Austin technology and office park, the 425-acre community EastVillage and the Etta at Parmer Village.

The company announced in 2020 it would add 800K SF of office space to the development, ABJ reported. It also said at the time that it would develop 1,800 multifamily units, a 340-room hotel and 80K SF of retail space on the property

The plans were paused in 2022 because Accesso wanted to pin down an anchor tenant before starting construction. There was an expectation that construction would begin in 2024.

Last November, Accesso said it received an extension for its zoning permit, now set to expire in September of this year, ABJ reported.

Accesso told Bisnow it still plans an expansion to its office campus.

“Our vision for 7700 Parmer as a mixed-use development has not changed,” a company spokesperson said. “Securing the loan extension and further capitalization allows us to move forward with our plan for the asset.” 

Accesso added that it is experiencing "significant leasing velocity” of roughly three times that of last year.

Leasing activity in Austin’s office market improved in 2025, according to Savills' Austin Q4 2025 Office Market Report, marking “a gradual step forward after several years of recalibration.” Annual leasing volume in the city reached 4.9M SF, up more than 11% from the previous year.

Newer, amenity-rich Class-A buildings in core submarkets, like 7700 Parmer, are continuing to outperform in terms of tenant demand, according to the report.

Cushman & Wakefield noted in a Q4 2025 office market report that leasing activity in Austin continued its upward momentum, suggesting rising “confidence in the return-to-office trend.”

It also noted that the recent “surge” of spec office projects, many without tenants, continues to keep Austin’s office vacancy rates high.

Area office vacancy ticked up slightly to 22.3% in the previous quarter, per Colliers' Q4 2025 Austin Office Market Report.