One of the city’s major law firms, saying it couldn’t find sufficient office space downtown, is moving to northwest Austin.

Vinson & Elkins LLP, one of the oldest and largest law firms in the United States, has leased approximately 135,000 sf of office space at the proposed Terrace Building 7 on Via Fortuna Rd., officials told GlobeSt. com.V&E, which is anticipating a move in May 2002, will take about four floors of the 192,000-sf building – one of seven buildings planned in the Terrace Development.

The Terrace is a 109-acre, master-planned, mixed-use development that will have 1.1 million sf of office space plus retail space, 308 luxury town homes and an upscale hotel. The development, being marketed by Colliers Oxford Commercial Inc., will be situated in the northeast quadrant of Loop 360 and the Mopac Expressway. Terrace I and Terrace II, with 115,000 sf each, have been completed. Construction is under way for Terrace III, slated for a mid-2001 completion.

Attracting one of the premier law firms in the country substantiates the development as not only a good location for technology based-companies, but also for traditional downtown tenants, say brokers. “The northwest market of Austin is emerging as Austin’s version of an ‘uptown,’” says Jamil Alam, senior vice president and director of brokerage services at Trammell Crow Co. Alam, who represented V&E in the transaction, believes “downtown Austin will remain a strong, viable, 24 hour submarket” despite the northwest surge.

Don Wood, managing partner in the Austin office of Vinson & Elkins LLP, says the firm does not want to leave downtown, but has been stymied in its search for enough office space to meet anticipated future growth. The Austin office of Houston-based V&E currently leases some 80,000 sf in One American Center at Sixth St. and Congress Ave. Trammell Crow will be handling Tenant Improvement construction on V&E’s behalf, officials say. Founded in 1917, Vinson & Elkins has offices in Houston, Dallas, Washington, D.C., New York City, London, Singapore and Moscow.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.