{"id":1004567259,"date":"2022-02-14T07:26:11","date_gmt":"2022-02-14T15:26:11","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004567259"},"modified":"2022-12-08T23:05:05","modified_gmt":"2022-12-09T07:05:05","slug":"tiktok-inks-major-lease-in-austin","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/tiktok-inks-major-lease-in-austin\/","title":{"rendered":"TikTok Inks Major Lease in Austin"},"content":{"rendered":"<div id=\"attachment_1004567265\" style=\"width: 250px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/300-Colorado-2.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004567265\" data-attachment-id=\"1004567265\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/tiktok-inks-major-lease-in-austin\/300-colorado-2-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/300-Colorado-2.jpg\" data-orig-size=\"640,800\" data-comments-opened=\"0\" 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;\\u00a9 Yardi Systems, Inc.&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=\"300 Colorado\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;300 Colorado&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/300-Colorado-2.jpg?w=640\" class=\"size-medium wp-image-1004567265\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/300-Colorado-2.jpg?w=240\" alt=\"300 Colorado, a 368,798-square-foot, 32-story high-rise in Autin\u2019s CBD\" width=\"240\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/300-Colorado-2.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/300-Colorado-2.jpg?resize=240,300 240w\" sizes=\"auto, (max-width: 240px) 100vw, 240px\" \/><\/a><p id=\"caption-attachment-1004567265\" class=\"wp-caption-text\">300 Colorado<\/p><\/div>\n<p><strong>Cousins Properties<\/strong> has secured a <a href=\"https:\/\/www.commercialsearch.com\/news\/cousins-properties-lands-tenant-for-austin-office-tower\/\">new tenant<\/a> for one of its downtown Austin office towers. Social media giant <strong>TikTok Inc.<\/strong> has signed a more than 125,000-square-foot sublease at 300 Colorado, a 368,798-square-foot, 32-story high-rise in the city\u2019s CBD, the <em>Austin Business Journal <\/em>first reported. The social media company will occupy floors 27 through 32.<\/p>\n<p>The 2021-built property, on less than 1 acre at 300 Colorado St., features floorplates between 21,256 and 22,917 square feet along with a fitness center equipped with locker rooms, a lounge with a bar and a 3,400-square-foot conference center. The high-rise includes a 10,000-square-foot retail component on the first two floors as well as 14 levels of parking with a ratio of 2.5 spaces per 1,000 square feet.<\/p>\n<p>The California-based tenant will take up a portion of the space originally leased to Parsley Energy Inc., which was later acquired by Pioneer Natural Resources Co., resulting in the closure of the Austin office.<\/p>\n<p>The latter is among Cousins\u2019 top five office tenants occupying 359,660 square feet of space across two properties in a single market, with a weighted average remaining lease term of about 9.7 years, according to a recent Earnings Release.<\/p>\n<p>The Cousins&#8217; leading tenant roster also includes Amazon and Meta Platforms (formerly known as Facebook). Once complete, the e-commerce giant will occupy Cousins\u2019 <a href=\"https:\/\/www.commercialsearch.com\/news\/amazon-inks-full-building-lease-at-austin-tech-hub\/\">332,865-square-foot office project<\/a>, which is currently underway in Austin\u2019s The Domain submarket.<\/p>\n<h2>The office sector within Austin\u2019s CBD<\/h2>\n<p>Cousins Properties closed last year by finalizing <a href=\"https:\/\/www.commercialsearch.com\/news\/cousins-properties-restructures-austin-office-portfolio\/\">two office transactions<\/a> in downtown Austin. The real estate investment trust sold 816 Congress, a LEED Platinum certified office tower totaling 435,000 square feet, for $174 million. The Atlanta-based company also acquired the full ownership stake in 300 Colorado, shelling out nearly $163 million to Riverside Resources and Ironwood Real Estate for their 50 percent interest in the high-rise.<\/p>\n<p>Based on a recent AQUILA Commercial Report, the submarket closed last year with Meta Platforms inking a 589,000-square-foot lease at Sixth and Guadalupe, representing the second-largest office lease in downtown Austin. Despite the record-setting lease, office vacancy dropped 110 basis points quarter-over-quarter, reaching 19.7 percent, well above the city\u2019s average (14.7 percent).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company will occupy the top six floors of Cousins Properties&#8217; downtown high-rise.<\/p>\n","protected":false},"author":1763,"featured_media":1004551425,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1578,21784,22251,21742,21747],"tags":[],"class_list":["post-1004567259","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-austin","category-brokerage","category-in-focus","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cousins Properties signed a leased with TikTok at 300 Colorado- Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Social media company TikTok signed a lease with Cousins Properties to occupy six floors at 300 Colorado in Austin&#039;s CBD.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/tiktok-inks-major-lease-in-austin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TikTok Inks Major Lease in Austin\" \/>\n<meta property=\"og:description\" content=\"Social media company TikTok signed a lease with Cousins Properties to occupy six floors at 300 Colorado in Austin&#039;s CBD.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/tiktok-inks-major-lease-in-austin\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-14T15:26:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T07:05:05+00:00\" \/>\n<meta name=\"author\" content=\"Agota Felhazi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/09\/mitchell-kmetz-ztVcGTSD8xw-unsplash-e1632433656123.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/tiktok-inks-major-lease-in-austin\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/tiktok-inks-major-lease-in-austin\/\",\"name\":\"Cousins Properties signed a leased with TikTok at 300 Colorado- Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/tiktok-inks-major-lease-in-austin\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/tiktok-inks-major-lease-in-austin\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/09\/mitchell-kmetz-ztVcGTSD8xw-unsplash-e1632433656123.jpg\",\"datePublished\":\"2022-02-14T15:26:11+00:00\",\"dateModified\":\"2022-12-09T07:05:05+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/bd1ef74130b86a7c6013eaa04b08b28d\"},\"description\":\"Social media company TikTok signed a lease with Cousins Properties to occupy six floors at 300 Colorado in Austin's CBD.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/tiktok-inks-major-lease-in-austin\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/tiktok-inks-major-lease-in-austin\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/tiktok-inks-major-lease-in-austin\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/09\/mitchell-kmetz-ztVcGTSD8xw-unsplash-e1632433656123.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/09\/mitchell-kmetz-ztVcGTSD8xw-unsplash-e1632433656123.jpg\",\"width\":800,\"height\":600,\"caption\":\"Austin. 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