AUSTIN--GLG (Gerson Lerhrman Group Inc.) has signed a new long-term, 41,803-square-foot office lease, expanding at its current location at 301 Congress Ave. in Austin.

The new lease nearly doubles the footprint for the company. Its Austin office is the second-largest location for GLG with nearly 300 professionals working there today, and the expanded office can accommodate up to 400 people over the next few years.

Senior vice president Jerry Frey with CBRE's Austin office, and Robert Meyers and Gary Kamenetsky with CBRE's New York office, represented GLG. David Putman, Bart Matheney and Chad Barrett, with Aquila Commercial, represented the landlord.

“The negotiations for this transaction were quite complex,” Frey says. “Both parties, Commonwealth Partners and GLG, were creative and flexible and achieved a win-win scenario for this long-term lease commitment. We were pleased to advise GLG throughout the process, resulting in a successful outcome despite complicated conditions.”

GLG currently occupies 24,279 square feet. The new office will cover two floors of the building, which will be connected by a large atrium with a central staircase. Like its New York headquarters, GLG's Austin office will soon use activity-based working that. Employees will choose from multiple types of meeting and collaboration spaces, conference and training spaces.