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65-Story Mixed-Use Tower - 600 Guadalupe St.


H-Town Man

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  • 2 weeks later...

 

It is said the building will have the highest pool not only in Texas, but the entire Western Hemisphere.

https://atxtoday.6amcity.com/behind-design-sixth-guadalupe-austin-tallest-tower/

I have not read your link because it redirected back to this thread for me, but the 875' top floor of Comcast Center in Philadelphia (974') is the hotel spa, and its indoor pool is higher than this entire Austin building plans to be.  I'd be surprised if there isn't an even higher one in Toronto, though probably not an outdoor one either.  

Maybe Austin will still say it is the highest pool *deck,* but I'd be surprised if there isn't a higher one already in Monterrey, Panama City Panama, etc., that was easily overlooked [sic] by the people who aim to boast in these sorts of pointless things.

Edited by strickn
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https://therealdeal.com/texas/2022/11/02/meta-backs-out-of-plan-to-occupy-589k-sf-in-austin/

As Meta moves to shrink its office footprint, the Facebook parent is backing out of a plan to fill a new building in downtown Austin.

The tech giant plans to sublease rather than occupy the 589,000 square feet it leased at Lincoln Property Company’s Sixth and Guadalupe, The Real Deal has learned.

The massive lease, announced in January, is for all of the office space at the under-construction, 66-story tower, and is one of the largest office leases in city history.

Lincoln Property Company declined to comment, but Andrea Beasley, a spokesperson for Meta, confirmed the decision.

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16 hours ago, Urbannizer said:

Yikes.  That's a pretty big hit to a market the size of Austin's CBD.  As of 2nd quarter 2022, their CBD was at 85.1% occupancy.  This would push that number down to about 81.3%.  And another 4.35 million under construction. In the first half of 2022, Austin's CBD had total net absorption of 297,486 square feet.

As of 2nd Q 2022, they had 2.25 million SF vacant, with another 4.94 Million under construction. Now that Meta has backed out, I can't find that any of that under-construction space is pre-leased (yes, technically, the Meta space is still pre-leased but it's back on the market, probably at a reduced price).  At their net absorption rate of the first half of this year, their current vacancies and space under construction gives them about a 12-year supply of office space. For context, the office space under construction in Austin's CBD will add 33% to their existing supply.

Edited by Houston19514
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https://www.bizjournals.com/austin/news/2023/10/12/austin-office-space-update.html

"Farther north in downtown, at Sixth and Guadalupe, Facebook parent Meta continues to seek someone to sublease the space it has decided not to flesh out. It’s a huge spot — 589,000 square feet — and a Meta spokesperson said there have been no takers of any of it after shopping it around for more than 11 months. If Meta successfully offloads the space to multiple sublessees, it will also qualify for our multi-tenant office buildings list and would rank near the top."

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Austin real estate deals: Subleases on display - Austin Business Journal (bizjournals.com)

"Meta Inc.: 530,725 square feet

Meta Inc.’s sublease at Sixth and Guadalupe, which opened to residents earlier this year and is the tallest tower in town, is by far the largest sublease on the market.  

The parent company of Facebook pre-leased the office space on December 2021, and announced it would seek a subtenant for it in November 2022, over a year before the tower was complete. To date, Meta has not found a subtenant for the tower that is now done, but a Meta spokesperson recently confirmed that the company has begun sublease negotiations with prospective tenants. It's unknown how far along those negotiations are or how much space may be taken."

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