AUSTIN-Oracle Corp., the database software company, has bought a north Austin building for a data center. The Redwood Shores, CA-based company made the purchase from AT&T Corp., which did not follow through on plans to build out a data center of its own on the site.
Located at 11400 N. Lamar, the 120,000-sf building is close to Lamar’s intersection with Braker Lane. Data centers are secure locations where companies maintain computers to serve Web pages and other corporate functions. Oracle operates three other data centers.
The building was constructed in 1999 by Skyline Associates LP. It is behind a center that houses a retail and medical structure.
The north submarket, Austin’s largest concentration of industrial space, had a 25.3% vacancy rate for industrial space as of March 31. Negative absorption was 612,000 sf in the first quarter. Average rents for warehouse/distribution space was $8.15 per sf.