A co-working firm is expanding its presence in Austin with a significant lease in a newly built office building
Industrious has secured 30,000 square feet at 7001 Burnet Road, developed and owned by David Kahn’s Colina West Real Estate, increasing its total footprint in Austin to nearly 170,000 square feet, the Austin Business Journal reported.
The lease follows Industrious’ recent addition of 19,000 square feet at the 5th and Colorado tower in downtown Austin. The firm is the second-largest coworking provider in Austin, trailing only WeWork, which has nearly 400,000 square feet in the city. Industrious leased the space in June and aims to open the location by mid-September.
Situated between downtown Austin and The Domain, the five-story building provides move-in ready spaces, which have become an increasingly appealing option to companies looking to minimize time and costs associated with office build-outs.
“For a lot of technology companies and creative groups … they’re startups that are planning to grow. They don’t want to spend eight months planning an office and then moving out a year later,” said Jason Steinberg, a partner at ECR, which is tasked with leasing the property.
The 7001 Burnet building still offers space for direct lease, including a 4,100-square-foot office and two full-floor spaces, each about 14,800 square feet. The building’s amenities include covered terraces and parking garage access on every floor.
Read more
Commercial
Austin
Industrious doubles office footprint at 5th and Colorado
Commercial
New York
Move over, WeWork: Industrious takes over 16 floors at Kato’s Tower 49
Commercial
Los Angeles
Industrious lease expands coworking presence in Century City
A restaurant tenant, Mama Betty’s, has signed on to the first-floor retail space, and they are working to get more food-and-beverage tenants, with Weitzman’s Britt Morrison handling retail leasing.
“We have several other restaurant and retail offerings we are currently evaluating for the project,” Kahn told the outlet. “We want to make sure the retail is a great attraction for the office tenants in the upper floors as well as for the surrounding neighborhoods.”
— Andrew Terrell