Austin’s Largest Office Leases Of 2017 So Far
From Firmspace Austin to Deloitte, Austin has inked some serious office square footage in 2017. Here is a quick look at the four largest leases of the year thus far, with the help of Colliers International research.
Oracle at 2300 Cloud Way - 550K SF
Oracle kicked off the year with what will likely be the biggest office lease in Austin in 2017. The 25-acre campus has been in the works for a couple of years, but a lease was not inked until Q1 2017. The landlord is Oracle Corp. and the tenant was Oracle, according to CoStar. Oracle bought the site over six transactions from Cypress Real Estate Advisors. The cloud services provider has been tight-lipped about the 550K SF campus that is the fourth-largest development under construction in Austin.
Unknown Tenant at 9001 Interstate 35 N - 88K SF
This 262K SF building near I-35 and Rundberg Lane in North Austin inked a mystery tenant for 88K SF in March. Northview Business Center is a single-story building with rents around $20/SF and 6:1,000 SF parking ratios. The building with a call center layout was built in 1971 and has undergone renovations to accommodate a food truck courtyard.
Austin Regional Clinic at 6937 Interstate 35 N - 70K SF
Austin Regional Clinic renewed 70K SF at the American Founders Building in March. ARC leased the entire five-story building in Austin’s Northeast submarket. As part of a consolidation of administrative offices, ARC will move into the Texas Mutual Insurance Co. building at 6210 U.S. 290 in late 2018, though it is unclear if this will impact its recent renewal at the American Founders Building.
The Center for Social Innovation at 1023 Springdale Road - 60K SF
Though the makers spaces at Springdale General will not break ground until September, it has already inked a large lease with the Center for Social Innovation. The 15 buildings have 165K SF and offer leases from 760 SF to 50K SF starting at $17.50/SF plus NNN. Center for Social Innovation at Springdale General leased 50K SF of office space for non-profits, social ventures and family offices and 10K SF of co-working space in March. The 10-acre property near the intersection of Springdale Road and Airport Boulevard is marketing itself as an affordable alternative for musicians, artists, makers and designers.
CORRECTION June 8 at 6:20 p.m. ET: Colliers' data incorrectly represented leasing activity at 1023 Springdale Road. The story has been updated.