Dell Preps for Final Stage of Las Cimas Exit

AUSTIN-Dell Computer Corp. is ending its stay in southwest Austin. By the end of November, the company will move its headquarters offices from Las Cimas II at 807 Las Cimas Parkway, off Capital of Texas Highway, back to its Round Rock campus.

That will leave the 156,000-sf building empty. Dell is trying to sublease that building and its neighbor, Las Cimas III at 805 Las Cimas Parkway, also 156,000 sf. Nearly 60,000 sf of Las Cimas III has been subleased.

Dell moved the offices of CEO Michael Dell, other executives and Dell Ventures to Las Cimas II in spring 2000 because it was running out of space in Round Rock. It also leased Las Cimas III. The company has since cut thousands of workers in the wake of the tech downturn and has room for the bosses at Round Rock.

Since March, Dell has been trying to sublease the Las Cimas buildings. It had indicated it would move offices from Las Cimas II as space was subleased.

Derek Land of Endeavor Real Estate Group, which is handling subleasing for Dell, says the building would be ready for subtenants by December. Land and Chad Marsh are marketing the property for Dell. Land says Las Cimas II has finished out as well as shell space.

In filings with the Securities and Exchange Commission, the company said it has accrued $42 million in liabilities for net lease expenses that will be paid through 2006.