It’s an eye opener to see all the mega companies betting on their future in Austin. They are making full blown commitments to our city that you don’t often see around the US. The big office towers downtown and in North Austin’s Domain are visual indicators of this trend.
In Neal Spelce’s latest newsletter (I love to follow what this Austin economist has to say) I agree with his statement: “It’s more than a coincidence. It’s a big time trend unfolding before our eyes.” The question is often asked why? Neal says:” These successful mega companies are sitting on stacks of cash and they are pouring resources into the Austin area as they expand to become mega-mega entities.” What an endorsement for our economy, lifestyle and workforce!
Developers have taken risks in putting up speculative office buildings but are finding they made the right decision as they are substantially pre-leased.
There is a 35 story office building on the north shore of Lady Bird Lake downtown. It’s reported that Google leased all 723,000 SF and will also occupy a 7 story building at the Saltillo development.
Also reported Amazon leased 145,000 SF (4 floors) in the Domain, the second downtown, Tower 10 under construction due to be completed second quarter of 2020. Amazon already resides in approximately 250,000 SF in two other office towers in the Domain.
Facebook leased 320,000 SF (an entire 17-story tower) which will be completed later this year in the Domain and already has employees working at the Domain in another building. They also have pre-leased another 250,000 SF in a downtown skyscraper!
Of course you’ve all heard about Apple’s second campus expanding in NW Austin.
Oracle is working on a huge campus expansion along the south side of Lady Bird Lake.
These are just a few illustrations and by no stretch of the imagination a complete list of companies investing big time in Austin. With this tsunami of tech talent Austin’s real estate just got hotter! NOW is the time to jump into wealth building through owning real estate. Call me..I can help.
