Pharmaceutical giant Allergan takes 90,000 square feet in North Austin

Oct 1, 2014
Austin Business Journal

Allergan Inc., the California-based pharmaceutical giant behind Botox and other treatments, has leased 90,000 square feet at 301 Howard Lane in North Austin. The company would not comment on the lease or plans for its Austin operations

The lease was confirmed by real estate broker Mark Emerick of CBRE Group Inc., which represents the owner of the building, Los Angeles-based Karlin Real Estate. Emerick handled the deal with partner John Barksdale

Emerick and Barksdale also are representing Karlin on a larger scale as it markets the 300-acre site surrounding 301 Howard Lane as a major new master-planned business park dubbed “Parmer.” Karlin has engaged Dallas-based Trammell Crow Co. as its partner in the $1 billion mixed-used development, which ultimately will include retail, residential and hospitality uses

Allergan’s lease is in an existing 293,000-square-foot building that had been vacant. CBRE renamed the building Parmer 6.2 in keeping with the business park’s new name. The remainder of the space is available for other tenants and significant improvements are in the works, Emerick said

The existing loading dock doors will be replaced with a glass facade to create a prominent corner entry that faces Center Ridge Drive, presenting a significant value-added opportunity for tenants seeking more affordable space than what's available downtown or on the west side

Allergan, a high-profile Fortune 500 company with its development of eye care products, Botox and other pharmaceuticals, is in the midst of fending off a hostile takeover by Valeant Pharmaceuticals International Inc., a Quebec-based Canadian company. Allergan also announced in July it would lay off 1,500 employees or about 13 percent of its global workforce

It appears, however, that Allergan is beefing up its operations in Austin. Noozhawk, a Santa Barbara, Calif. publication, reported that Allergan was laying off employees at its nearby Goleta, California, facility but that corporate “reorganization plans also call for adding employees at some of the company’s established sites, including locations in Austin, Texas, Bridgewater, N.J., and Westport, Ireland.”

Emerick indicated that Allergan has had a presence in Austin at another location but he couldn’t elaborate

The 90,000-square-foot lease represents a major expansion, however, that bodes well for the life sciences and biotech industry in Austin, he said. Expansion in that industry sector, he said, can be expected with the creation of the Dell Medical School at the University of Texas

Print Article opens in new window