The custom homebuilder is moving from 19,000 sf at the Koger Center, Chris Perry of Trammell Crow Co.'s Austin office, tells GlobeSt.com. "They didn't fire sale it, but we did get a good rate," says Perry.

Perry has represented Ryland for its space is in Building 5 and Jay Lamy of the Staubach Co.'s Austin office has acted on Janus' behalf. The 34-year-old Ryland Homes has 24 offices in the US.

Perry says the sublease market, which is boasting about 2.2 million sf, had opened doors for Ryland to snare a good deal. "We started getting a lot of good options in the form of sublease spaces back on the market during the time that Ryland was looking for a new location," he explains. Ryland's ability to use all of Janus' existing furniture had further sweetened the pot, he adds. Perry says tenants trying to hawk sublease space "are now getting very aggressive in their pricing." And, it's pressuring the market to lower rates just as everyone in Austin has been predicting.

Ryland had started scouring the market for new space just as its five-year lease at the Koger Center was drawing to a close, according to Perry. He's mum about the length of the Riata Corporate Center lease, but did say that it's long term.