Bart Matheny of the Austin office of Insignia-ESG hasrepresented the building owner, WXI/AJP Real Estate Ltd. and JamilAlam of Trammell Crow Co.'s Austin office has handled negotiationsfor Herndon, VA-based Northrop Grumman. The six-year deal is adirect lease.
The owner has made major renovations after reducing the buildingto its shell. A new heating, ventilation and air conditioningsystem was installed and electric service was upgraded along withother changes made in the building's look.
The 278,131-sf office complex is near the intersection ofInterstate 35 and Texas 183 in Austin's north central submarket.That submarket ended the third quarter with a 13.5% direct vacancyrate and an 15.3% overall vacancy rate.
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