Looking for Austin office space? Here's 2 million square feet to choose from

May 16, 2014
Austin Business Journal

For the past decade, hardly any new office construction occurred in Austin, but it's hard to imagine how stagnated the market used to be based on today’s activity

The Austin Business Journal has pulled together a list of the major office buildings under construction and that cumulative amount is impressive. More than 2 million square feet of Class A office space is rising from the ground

Click (http://www.bizjournals.com/austin/gallery/33371?r=http%3A%2F%2Fwww.bizjournals.com%2Faustin%2Fblog%2Fmorning_call%2F2014%2F05%2Flooking-for-austin-office-space-heres-2-million.html)   to see a slideshow of renderings for the 11 major projects in development

Six of the 11 major office complexes are being developed by Austin-based Endeavor Real Estate Group. That company has two buildings underway in downtown Austin, two in The Domain in Northwest Austin, another in Northwest Austin and a fifth in Rollingwood, just to the southwest of downtown. Endeavor also is the co-developer of luxury apartment tower "3 eleven Bowie" in downtown Austin, which will include about 41,000 square feet of office space

Atlanta-based Cousins Properties Inc. (NYSE:CUZ) is building the largest project, the Colorado Tower at Third and Colorado streets. Cousins has a long history of development in Austin and built the last major downtown office tower, the Frost Bank Building, which opened in early 2004

Several other locally based developers are actively building office product, including Riverside Resources, which is constructing Capital Ridge in the Westlake area; Seaholm LLC, which was created in part by Southwest Strategies Group, to redevelop the decommissioned Seaholm Power Plant: HPI Real Estate Services & Investments, which is building 3700 San Clemente near Capital of Texas Highway and the Pennybacker Bridge; and Hill Country Galleria LLC, which is building a smaller property in Bee Cave

Most of the projects have secured some preleasing but there’s still plenty of product to choose from

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