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AUSTIN-A medical practice has signed up for more than 10,000 sf at a just-opened office building in the southwest submarket.

United Otolaryngology Associates PLC has leased 10,342 at the Overlook at Rob Roy at 6836 Bee Cave Rd. Russell Young and Mike Kennedy, both of Commercial Texas LLC, represented United Otolaryngology. Steve Harren of Harren Interests represented the owner, the Overlook at Rob Roy LP. Harren was not available for more information about the building.

The four-story Overlook building sits on seven acres and it does indeed look over the high-end Rob Roy residential subdivision. The building is about a mile west of Capital of Texas Highway.

The building opened in a submarket with a 22.22% overall vacancy rate. The vacancy rate for class A space is 26.71%, of which 11.05% is direct space and 15.67% sublease space. The class A rent dropped to $22.93 per sf at the end of the third quarter from $24.16 per sf at the end of the first quarter.

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