Thank you for sharing!

Your article was successfully shared with the contacts you provided.

AUSTIN-Two technology companies have settled a real estate dispute over the Millennium Building at 6300 Bridgepoint Parkway in Austin.

National Instruments Inc. disclosed Thursday in its quarterly financial report that it settled the dispute with Trilogy Software Inc. Specific terms were not divulged, but National Instruments said it gained $4 million from a consolidation of facilities and the resolution of the dispute.

Trilogy, a software company, had told National Instruments, which develops software and hardware for test and measurement, that it intended to walk away from its lease for 136,000 sf in the Millennium Building in the northwest submarket. Trilogy had claimed economic hardship. National Instruments had said Trilogy was in default on the terms of the lease. National Instruments is publicly traded and Trilogy is privately held.

National Instruments owns the building, which overlooks Lake Austin. It is moving employees from there to a new building on its corporate campus on North MoPac Expressway.

Trilogy had grown quickly in the 1990s and ate up office space in Shepherd Mountain. It has since cut back and consolidated offices into the Plaza on the Lake building at 5001 Plaza on the Lake Drive.

National Instruments said it intends to use the $4 million to create a corporate foundation to promote scientific and engineering research and education at higher education institutions.

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

*May exclude premium content
Already have an account?

Dig Deeper


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 © 2021 ALM Media Properties, LLC. All Rights Reserved.