X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

AUSTIN-Vignette Corp. has almost moved itself out of Barton Oaks Plaza III, the building that served as its corporate headquarters. The company, in an effort to save money, is consolidating its offices in Barton Skyway II, just down MoPac Expressway.

Both buildings are in the southwest submarket.

“To reduce costs and become more efficient. That is the primary reason we’re making these moves,” Maury Lane, a Vignette spokesman, tells GlobeSt.com.

One of the upshots is that many employees, used to their own offices, are now sharing space.

Vignette moved into the 121,000-sf Barton Oaks building in 1998 when it was rapidly growing. Its previous offices had been at Far West Plaza I in the northwest submarket. Ford Alexander of the Austin office of Colliers Oxford Commercial has represented the Vignette in its moves.

Four-story Barton Skyway has 195,970 sf. Vignette shares the building with Landmark Graphics Corp.

The slowing economy has hurt the company, which makes large-scale software that helps its clients manage their Web content, as it has most other technology companies. Through the first three quarters ended Sept. 30, Vignette posted a net loss of $561 million on revenues of $244 million. Its shares have rebounded to the $6 range after hitting a low of $3.08 on Sept. 27. About a year ago, Vignette’s stock stood at $27.13 per share. Beginning in January, the company has made several rounds of job cuts.

Prentiss Properties, based in Dallas, owns the Barton Oak and Barton Skyway buildings.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

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 © 2020 ALM Media Properties, LLC. All Rights Reserved.