Chris Marchbanks of Cresa Partners' Austin office has negotiated the long-term lease on behalf of the tenant. A CB Richard Ellis team from Austin has represented the building owner, Development 2000 of Austin.
Marchbanks tells GlobeSt.com that the office is needed to accommodate an expanded pact with the Texas Turnpike Authority. HDR Engineering holds the state contract for all projects, according to Marchbanks. He anticipates that HDR will exercise an option for more space at Wells Branch within a year, possibly doubling its office size.
The 150,000-sf building in northeast Austin has recently delivered. HDR reportedly will maintain its south Austin office.In another move, Brooks Automation has taken over 15,500 sf at 5508 Highway 290, a building owned by a private investment group. Marchbanks says the high-tech firm has relocated from an office building along Texas 360.
The southwest Austin office space is practically double the size of the previous site, according to Marchbanks. He has represented the tenant and a Trammell Crow Co. team from Austin has acted on the building owner's behalf.
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