The organization will expand its space, moving into the buildingas it sells its current HQ, a 5,440-sf building at 11442 N.Interstate 35. That building is under contract and should close bythe time Special Olympics moves into its new quarters.

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Special Olympics had a deal for flex space on Kramer Lane abouta year ago, but it fell through, according to Jay Lamy of StaubachCo. Central Texas. He and Jon Aleshire, also of Staubach,negotiated on behalf of Special Olympics. The delay helped SpecialOlympics find class B space at a better rate, Aleshire says. "Onthis last search we had given them 70 alternatives," Lamy says.

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The rental rate and lease term were not disclosed, by theStaubach brokers, who did say it is a long-term lease. David Putmanand Bart Matheney, both of CB Richard Ellis Inc.'s Austin office,represented the building owner, WXI/AJP Real Estate Ltd., an Archonpartnership. CB Richard Ellis gained leasing duties for thebuilding when Insignia/ESG exited the Austin market earlier thisyear.

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Chase Park IV is one of five buildings totaling more than283,000 sf along Chevy Chase Drive, just off US Highway 183 nearits intersection with Interstate 35. The 50,000-sf buildingrecently was renovated. The north central submarket had an 18.1%vacancy rate in the first quarter with an average rental rate of$19.12 per sf.

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