Jon Aleshire of the Austin office of the Staubach Co. represented the tenant and Bill Ball of Bill Ball Co. acted for AV Labs. Ball says the rest of AV Labs' space has been filled by one of the start-up companies with which it worked.
Makos moves from 4,100 sf in Grant Plaza, a 89,363-sf building at 611 E. Sixth St., Aleshire says. He tells GlobeSt.com that the company "bumped up in space, but not in cost." Makos wanted to stay downtown and in space that's not the usual office setting. It got that in the former AV Labs space.
Austin Ventures set up AV Labs to help new companies get off the ground, providing help from experienced executives. AV Labs operated in separate quarters from Austin Ventures, leasing space in the 109,162-sf Perry Brooks building, which was built in 1952. The incubator remodeled the space into an industrial style with that could be considered funky.
Earlier this year, Austin Ventures brought AV Labs into its offices when it moved into 300 West Sixth, the 444,000-sf CarrAmerica Realty Corp. building in the CBD. Empty sublease space accounts for about a quarter of the available space in the CBD. The submarket's overall vacancy rate is 12.96%.
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