Indeed has found a taker for a chunk of space in a North Austin office building that hit the sublease market last year.
Florida-based Dun & Bradstreet, a provider of business intelligence and analytics services, will occupy 36,000 square feet across an entire floor of the Domain Gateway, at 2900 Esperanza Crossing, the Austin Business Journal reported.
Indeed’s decision to shed space is reflective of broader changes in the office market, which has been pummeled by stubborn remote-work trends, driving up the city’s office vacancy rate to a record high of nearly 20 percent last year. An Indeed spokesperson confirmed that most of its employees are on hybrid-work schedules.
As of last month, 5.7 million square feet of sublease space was up for grabs in Austin, compared to 2.7 million square feet in July 2020.
Other companies with large sublease offerings in Austin include Meta, Home Depot, WorkRise and TikTok.
The deal expands Dun & Bradstreet’s North Austin footprint, as it also occupies space at the 7700 West Parmer Lane office park. It’s unclear how much, though.
Indeed is still seeking subtenants to fill the rest of the five-story, 183,000-square-foot building, The job search company, co-headquartered in Austin and Stamford, Connecticut, put the entire building up for sublease in August, four years after moving into it.
Broker Todd Chessher and CBRE’s John Gump and Nate Stricklen are marketing the property, located in The Domain, a bustling mixed-use district that’s about 20 minutes north of downtown.
Indeed has been working to drastically scale back its Austin operations since last year. The company put nearly 100,000 square feet up for sublease in its namesake tower downtown in October. That’s about a third of Indeed’s footprint in the 36-story building, at 200 West Sixth Street.
Indeed also vacated its office at the Fifth + Colorado tower in November, when its lease expired. In addition, its lease at 6433 Champion Grandview Way is set to expire soon, the outlet reported.
—Quinn Donoghue
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