ChannelTwoNews Posted October 18, 2023 Share Posted October 18, 2023 https://www.indeedtower.com/ https://www.pagethink.com/client/trammell-crow-company/indeed-tower https://www.bizjournals.com/austin/news/2023/10/17/indeed-sublease-indeed-tower.html "As it attempts to dump space elsewhere in town, Indeed Inc. has placed almost 100,000 square feet of downtown office space on the sublease market. The decision comes just months after employees moved into the upper floors of its namesake tower. The job search engine moved into the top 10 floors of Indeed Tower in August — which it is now calling its co-headquarters — five years after signing a lease. But now, the company is advertising three floors for sublease, according to a property brochure. The move comes at a time when Austin has more space on the sublease market than ever before, and office landlords are struggling to fill towers — both new and old. One contributing factor is that many employers are struggling to figure out how to best use office space in the wake of the pandemic as more roles become hybrid or entirely remote." 1 Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted October 18, 2023 Share Posted October 18, 2023 (edited) Yikes. Subtract another 6/10th percent from downtown Austin's office occupancy rate -- per Transwestern, that would take them down to 72.8% occupied, with a huge amount of space scheduled to be added to the market over the next several years. Edited October 18, 2023 by Houston19514 Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted October 18, 2023 Share Posted October 18, 2023 (edited) And another 699,000 square feet of available office space is scheduled to be completed this quarter. That will take Austin's downtown down to 69.9% occupied. Edited October 18, 2023 by Houston19514 Quote Link to comment Share on other sites More sharing options...
Houston19514 Posted October 19, 2023 Share Posted October 19, 2023 The news keeps getting worse for downtown Austin. It appears that the horrible occupancy/vacancy numbers we're seeing probably don't even include the Block 185 Building. Google leased the entire building, which was completed early last year, but it seems they have not and are not moving in. It's leased, and it seems Google is not even marketing it for sublease, so it wouldn't show up in the occupancy/vacancy/availability stats, but it nevertheless is another almost 800,000 square feet of office space sitting empty. (Subtract another 4.71 percentage points from their occupancy percentage.) Quote Link to comment Share on other sites More sharing options...
ChannelTwoNews Posted February 6 Author Share Posted February 6 HNTB takes space in Austin's Indeed Tower - Austin Business Journal (bizjournals.com) "Kansas City-based engineering and design firm HNTB recently moved its Austin office to downtown's Indeed Tower. HNTB said it took 20,000 square feet on the 24th floor of the high-rise." 1 Quote Link to comment Share on other sites More sharing options...
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