Thank you for sharing!

Your article was successfully shared with the contacts you provided.

AUSTIN-Data Tomato Inc., an Internet development company, is moving from downtown location to another as it expands.

The company has taken 3,256 sf of sublease space in the Chase Manhattan Bank building, 700 Lavaca. It moves from about 1,200 sf of office space in the Whit Hanks antiques building at Sixth Street and Lamar Boulevard. “We began our search for downtown expansion space over a year ago,” says Jeff Maxwell, CEO of Data Tomato, “and until now, were unable to find anything affordable.”

Data Tomato helps its clients design their Web sites, specializing in strategy marketing, design and technology. Some of their clients include Time Warner, News 8 Austin, Boundless Technologies, Dell Computer Corp. and Legerity.

It is one of several start-up tech companies that have found space in CBD office towers where bankers, lawyers and accountants once had free reign. ETI Inc. moved into the 816 Congress in the mid-1990s; Human Code (now Sapient) set up shop a few blocks to the south on Congress Avenue; and Powered Inc. is in the Bank One building.

Derek Silva and Mark Milstead of NAI/Commercial Industrial Properties Co. in Austin have represented Data Tomato. Craig Couch has brokered the deal for Tech Partners, which is subleasing the space.

Silva tells GlobeSt.com that tenants who aren’t using their space are becoming less willing to hold out for higher sublease rates. That’s allowing companies like Data Tomato to pay $3 per sf to $4 per sf less than they would have six months ago.

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?

Dig Deeper


Join GlobeSt

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

  • Free unlimited access to GlobeSt.com'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 ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.