Winstead PC shareholder Steve Drenner tells us that the heart of Austins Central Business District is still beating, thanks to the upcoming 30-story office tower at Colorado and Third. This new landmark, built by Cousins Properties, is the first high-rise office building in Austin since Cousins opened Frost Bank Tower earlier in the decade. The new tower features about 390k SF of office space with an approximated 900-space parking garage, plus 6,000 SF of retail on the street level. It also appears that office product is pushing beyond its original CBD boundaries, dispersing among the downtown and suburban markets. Steve says hes also seeing higher rents in Austin--perhaps the highest in the state. What that amounts to is a real push for new office space. Hear more from Steve when he co-moderates our Austin state of the market event on April 30 (register here). For more info on our sponsor, click here.
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