"We expect Terrace III and IV to be anchored up and partiallyleased soon," says Mark Greiner, an agent with Colliers and OxfordCommercial Inc., the company that leases office space for theseven, planned office towers. The Claydesta Corp. of Midland is thedeveloper of the 109-acre property, which is situated on a plateauwith views of downtown Austin.

Though no leases have been signed for Terrace III or IV,Colliers Oxford has identified tenants, according to Greiner. Theproject completion date is set for 2002. This year, Colliers Oxfordmoved from its Congress Avenue offices to occupy 10,000 sf on theground floor of Terrace II. SigmaTel also recently signed to occupy25,000 sf on the fifth floor of the same building. Page SutherlandPage is the architect for Terrace II.

In September, Vinson and Elkins had leased 135,000 sf at theyet-to-be built Terrace VII, which also has a 2002 completion date.Vinson and Elkins now occupy offices at Sixth and Congress in theFirst American Bank Building.