Are you curious about what’s under construction in East Austin?
The East Austin, Class A office market has grown rapidly in recent years, adding roughly 500,000 square feet to our East submarket competitive set since 4Q 2018.
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In this article, we take a look at the office projects expected to deliver in 2021 that will continue that growth.
1. Eastlake at Tillery
Address: 3212 E. Cesar Chavez St.
Type: Office
Size: 172,000 SF
Eastlake at Tillery includes two, three-story buildings totaling roughly 172,000 square feet. The property is located on East Cesar Chavez Street at Tillery.
Construction is expected to be completed in 1Q 2021 but should be ready for tenant build-outs in December 2020.
Future tenants will have access to 3.3:1000 parking, private tenant patios, abundant outdoor space, a fitness center, showers, and bike storage. Eastlake at Tillery will also offer an on-site lactation suite, operated by Work & Mother, complete with private pumping rooms, a cleaning and sanitizing station, refrigeration, medical-grade equipment, and a host of support resources for working parents.
The building is designed to support a healthy workplace. Tenants will enjoy touchless passage through the building with app-based software that eliminates contact with surfaces like elevator buttons and door pulls. Additionally, upgraded building stairs provide a welcome alternative to elevators. A state-of-the-art filtration system will also ensure the air is fresh and clean, keeping occupants sharp and healthy.
Learn more about the Eastlake at Tillery Clean Standard.
CREA is the project’s developer, and AQUILA Commercial is the leasing team. Delineate Studio is the architect. The project is currently 0% pre-leased.
2. Foundry II
Address: 1600 E. 4th St.
Type: Office
Size: 161,436 SF
Photo courtesy of CoStar.
As its name suggests, Foundry II is the second iteration of the Foundry development, following the first building that was delivered 92% pre-leased in 2019. Foundry II is expected to deliver in 2Q 2021 and is currently 23% pre-leased to Unity Technologies.
The project will feature six stories and offer tenants 3:1000 parking as well as bike storage. The building will also offer outdoor terraces on each floor and a 3,000-square-foot outdoor patio.
Cielo Property Group is the developer and CBRE is the leasing team. Michael Hsu Office of Architecture, the firm behind the South Congress Hotel and one of the collaborators for Plaza Saltillo, is responsible for Foundry II’s design.
3. Eastbound
Address: 3232 E. Cesar Chavez St.
Type: Office
Size: 233,577 SF
Photo courtesy of CoStar.
Eastbound is the largest office development coming to Austin’s Eastside in 2021 with 233,577 square feet across four floors. Lincoln Property Company is the leasing team for the project, which is currently 0% pre-leased. Development is expected to finish in 3Q 2021. Lincoln and Kor Group are development partners for the project.
The project will offer tenants 3.2:1000 parking, including direct access to each floor from the garage. Amenities will include an on-site conference center, private balconies and rooftop terraces, a fitness center with lockers and showers, and more.
As with Eastlake at Tillery, the project will also offer a high-filtration HVAC system and integrated touchless technology.
Find out more about the Eastbound Health and Wellness Initiatives.
Conclusion
Although these projects will more than likely be delivered mostly vacant, developers in this submarket still feel confident that these projects will be able to attract high-quality tenants upon delivery.
If the high volume of activity in this submarket over the last few years is anything to go off of, that assumption is probably a safe bet.
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