Quote:
Originally Posted by MightyYoda
Even the smaller number is an extremely large amount of space. However, I can't see another office project starting with the other 2 that have broken ground. While the office market is strong, it isn't red hot like the apartment market or soon to be condo market. That seems like a great spot for condos considering the rapidly dwindling supply and no other announced projects. I can't imagine an office building of that size getting off the ground any time soon.
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You are right, it won't be soon. CBRE is marketing the Austin Children's Museum building for lease, which as you know is located on the World Class Capital lot that they are trying to get that 1.47M square feet of office building(s) approved. CBRE says in their marketing that the maximum lease term for the museum building is through 2027, which means WCC (or their successor) will agree not to start construction on that part of the land until then. The lot is L-shaped, so they could build in phases if they wanted to start earlier.
Here's the link to CBRE's leasing information:
http://www.loopnet.com/Listing/18237...eet-Austin-TX/