That lease and others at One American Center recently has raised occupancy in the 506,000-sf building to 81% from 64%. Capitol Center, meanwhile, could see its occupancy fall precipitously, as the law firm's 50,000 sf lease equates to about 30% of the 164,000-sf building.
The full service asking rate for space at One American Center is $23 per sf per year ($15 per sf plus $8 per sf in expenses). The negotiated terms of the "long-term" lease were not released by the parties involved and not otherwise immediately available.
The law firm will occupy part of the 21st floor, as well as all of the 26th, 27th and 28th floors. It also will take roughly half the plaza level, which it will use for work space and document storage. Jamil Alam, a principal in the Austin office of Trammell Crow Co., represented the law firm.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.