{"id":1004157709,"date":"2016-11-01T06:42:14","date_gmt":"2016-11-01T14:42:14","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004157709"},"modified":"2020-04-29T09:00:51","modified_gmt":"2020-04-29T17:00:51","slug":"austin-office-tower-tops-out-lands-3-more-tenants","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/austin-office-tower-tops-out-lands-3-more-tenants\/","title":{"rendered":"Austin Office Tower Tops Out, Lands 3 More Tenants"},"content":{"rendered":"<p><em>By Anca Gagiuc, Associate Editor<\/em><\/p>\n<div id=\"attachment_1004157710\" style=\"width: 199px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/500-W-2nd-Street-Austin.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004157710\" data-attachment-id=\"1004157710\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/austin-office-tower-tops-out-lands-3-more-tenants\/500-w-2nd-street-austin\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/500-W-2nd-Street-Austin.jpg\" data-orig-size=\"756,1200\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"500 W 2nd Street Austin\" data-image-description=\"&lt;p&gt;500 W 2nd Street Austin&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;500 W 2nd Street, Austin, Texas&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/500-W-2nd-Street-Austin.jpg?w=645\" class=\"wp-image-1004157710 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/500-W-2nd-Street-Austin.jpg\" alt=\"500 W. 2nd St., Austin\" width=\"189\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/500-W-2nd-Street-Austin.jpg 756w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/500-W-2nd-Street-Austin.jpg?resize=189,300 189w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/11\/500-W-2nd-Street-Austin.jpg?resize=645,1024 645w\" sizes=\"auto, (max-width: 189px) 100vw, 189px\" \/><\/a><p id=\"caption-attachment-1004157710\" class=\"wp-caption-text\">500 W. 2nd St., Austin<\/p><\/div>\n<p><strong>Austin, Texas<\/strong>\u2014<a href=\"https:\/\/www.trammellcrow.com\/EN\/Pages\/home.aspx\" target=\"_blank\" rel=\"nofollow\">Trammell Crow Co.<\/a> and joint venture partner <a href=\"https:\/\/www.principalglobal.com\/principal-real-estate-investors\" target=\"_blank\" rel=\"nofollow\">Principal Real Estate Investors<\/a> announced that 500 W. 2<sup>nd<\/sup> St.\u00a0has topped out construction and also added three additional tenants to its\u00a0roster. Professional services firm Deloitte, international law firm King &amp; Spalding and CBRE Group Inc. have signed long-term leases at the building.<\/p>\n<p>The Class AA, speculative 29-story <a href=\"https:\/\/www.commercialsearch.com\/news\/office\/\" target=\"_blank\">office tower<\/a> features 500,436 square feet of space, including 11,000 square feet of street-level restaurant\/retail space. Currently, the property is 60 percent leased and is scheduled for completion\u00a0in February 2017.<\/p>\n<p>\u201cAfter nearly two years of construction, the \u2018topping out\u2019 of the tower marks an important milestone in the transformation of downtown Austin as well as the ongoing redevelopment of the former Green Water Treatment Plant (GWTP),\u201d Adam Nims, principal of TCC\u2019s\u00a0Austin Business Unit, said in a prepared statement. \u201cOur diverse tenant roster continues to grow with well-known and distinguished global corporations who are leaders within their respective industries.\u201d<\/p>\n<p><a href=\"https:\/\/www.kslaw.com\/\" target=\"_blank\" rel=\"nofollow\">King &amp; Spalding<\/a> has signed a 22,404-square-foot lease for a portion of the 18th floor, relocating from the Frost Bank Tower at 401 Congress Ave. \u201cThe new larger modern office will be a great reflection of the energy and work in the Austin office,\u201d said Mike Stenglein, office managing partner of King &amp; Spalding\u2019s Austin office. \u201cWe are excited to move into a dynamic new part of Austin that will foster even greater opportunity for collaboration with our clients in the area and around the country.\u201d<\/p>\n<p><a href=\"https:\/\/www.cbre.us\/o\/austin\/Pages\/home.aspx\" target=\"_blank\" rel=\"nofollow\">CBRE\u2019s Austin<\/a> office will occupy 21,688 square feet on the 17<sup>th<\/sup> floor. The firm will relocate approximately 100 employees from 100 Congress in downtown Austin. The new office is part of CBRE\u2019s global \u201cWorkplace360\u201d initiative, the company\u2019s approach to workplace strategy designed to promote flexibility, mobility and productivity through technology-enabled, 100 percent-free address and paperless offices.<\/p>\n<p>\u201cCBRE is committed to being the leader in emerging workplace strategies,\u201d said Scott Senese, senior managing director for CBRE\u2019s Central Texas region. \u201cWith state-of-the-art technology, and an increased emphasis on internal collaboration and flexibility, our new Workplace360 office at 500 West 2nd will provide an environment that enables our professionals to serve our clients better than ever before.\u201d<\/p>\n<p>The office tower is located in the middle of the 2<sup>nd<\/sup> Street corridor, adjacent to restaurants, retail, entertainment and live music venues, as well as residences and outdoor amenities, including the Ann and Roy Butler Hike and Bike Trail and Lady Bird Lake. The asset\u2019s floor plates will be among the largest in downtown Austin, averaging approximately 32,500 square feet. Tenants will benefit from the seven outdoor terraces on six different levels throughout the building. Furthermore, the development team is seeking LEED Gold certification and an Austin Energy Green Building 2-Star rating.<\/p>\n<p>Keith Zimmerman and Lexis Livengood with Cushman &amp; Wakefield\u00a0represented <a href=\"https:\/\/www2.deloitte.com\/us\/en.html?icid=site_selector_us\" target=\"_blank\" rel=\"nofollow\">Deloitte<\/a>. Tim Relyea, Ford Alexander and Holliday Hinckley with <a href=\"https:\/\/www.cushmanwakefield.com\/\" target=\"_blank\" rel=\"nofollow\">Cushman &amp; Wakefield<\/a> represented King &amp; Spalding and CBRE\u2019s\u00a0Russell Young\u00a0and\u00a0Nate Stricklen\u00a0represented CBRE in the transaction. CBRE\u2019s\u00a0Troy Holme,\u00a0Casey Ford\u00a0and\u00a0Katie Ekstrom represented the landlord.<\/p>\n<p><em>Image courtesy of 500 W. 2<sup>nd<\/sup> St.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Trammell Crow and Principal Real Estate Investors have added Deloitte, CBRE and King &#038; Spalding to the tenant roster at 500 W. 2nd St.<\/p>\n","protected":false},"author":237,"featured_media":1004157710,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1578,21784,21743,21782,21742,21747],"tags":[],"class_list":["post-1004157709","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-austin","category-brokerage","category-deals","category-development","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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