New build­ing open­ings were a quar­terly high­light, Cush­man & Wake­field said.

Austin American-Statesman - - MONEY & MARKETS - Con­tact Shonda No­vak at 512-445-3856.

Granger said there’s “a strong trend” of ten­ants want­ing to be in mixed-use projects, such as the Hill Coun­try Gal­le­ria and the Do­main, with con­ve­nient liv­ing, din­ing, shop­ping and en­ter­tain­ment op­tions avail­able for em­ploy­ees. Such projects help re­cruit top tal­ent, Granger said, and as a re­sult em­ploy­ers are will­ing to pay more to lease space in or near such projects.

In down­town Austin, the over­all oc­cu­pancy rate dipped from the first quar­ter, to 90.2 percent. Cush­man & Wake­field said. Much of the in­crease, how­ever, is due to the open­ing in May of 500 West 2nd, a new tower with 505,000 square feet of space. Though 95 percent leased, only a few ten­ants have moved in so far. Google will be leas­ing more than 200,000 square feet in the build­ing, which CBRE is manag­ing and leas­ing.


The 90,500-square-foot of­fice build­ing at 801 Bar­ton Springs Road will have four sto­ries of of­fice space atop 4½ lev­els of park­ing.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.