Insignia has just secured the leasing and management pact for the granite-and-glass, class-A structure that is considered one of Austin's finest. CSC is expected to vacate in November and head to its new downtown office campus. CSC's lease officially expires at the end of January 2002.

"Our initial focus will be to replace CSC with a single user" says Bart Matheney, Insignia's leasing director. "However, we will begin working on a multi-tenant scenario and may pursue this avenue if the market dictates this strategy."

The six-story trophy building had been erected in 1987 for Continuum, CSC's predecessor. Pacific Realty Associates LP of Portland, OR is the current owner. "There hasn't been this type of building or this large of a block of space available in the Arboretum for some time," Matheney tells GlobeSt.com.

Walter Saad, Insignia's managing director in Austin, is overseeing all property operations. Matheney is handling the leasing and marketing duties while Heather Case, director of management, is responsible for management.

The property is situated in the epicenter of Austin's high-tech corridor in the upscale, mixed-use Arboretum. The office building, which has a four-story glass atrium and structured parking, overlooks the Capital of Texas Highway and Bull Creek. "This is one of the highest-quality buildings in Austin and is a unique opportunity for a corporate user that wants a trophy project and premier location," says Matheney. "It has every bell and whistle that a technology company or corporate user would want or need." The structure boasts a 30,000-sf, raised-floor computer facility, redundant power and redundant HVAC system.

In the past year, Insignia's Austin office has snagged seven leasing and management contracts to add 950,000 sf to its portfolio, Saad tells GlobeSt.com. The office now handles about two million sf of office and industrial space in the state capital on behalf of third-party clients.