The eight-month-old Park 22, situated at Ranch Road 2222 west of Loop 360, is 35% leased, but that most likely won't last for long. "We're seeing some activity out there. It's a great space and a good market," Bart Matheney, Insignia's director of leasing, tells GlobeSt.com. He predicts a signed contract will be in hand in a month.

In line with the assignment, Insignia has hired Trish McQueens from Equity's New Orleans office to oversee the leasing duties. Matheney says McQueens, a senior-level executive, had worked for Insignia prior to taking the Equity job and had been looking to return to Austin. She officially starts April 23.

Yancey-Hausman & Associates had held the contract, says Matheney. But a change in the ownership structure to Park 22 RIG LP, has brought a new property manager.

The project consists of two four-story buildings and one two-story structure, built by Cambria Partners. Today's tenants are Vision Web, Digital Motorworks and IBT, all high-tech operations and all occupying space in different structures on the office campus. Park 22 features the high-tech amenities commonly found in the Austin market. It's positioned on 16 acres that boast a creek and waterfall.