AUSTIN | Sixth and Guadalupe | 874 FEET | 65 FLOORS

[Urbannizer]

Meta backs out of plan to occupy 589K sf in Austin

As Meta moves to shrink its office footprint, the Facebook parent is backing out of a plan to fill a new building in downtown Austin.

The tech giant plans to sublease rather than occupy the 589,000 square feet it leased at Lincoln Property Company’s Sixth and Guadalupe, The Real Deal has learned.

The massive lease, announced in January, is for all of the office space at the under-construction, 66-story tower, and is one of the largest office leases in city history.

Lincoln Property Company declined to comment, but Andrea Beasley, a spokesperson for Meta, confirmed the decision.

[futuresooner]

Originally Posted by Urbannizer

Meta backs out of plan to occupy 589K sf in Austin

Now, while that's not surprising, that is a rather large amount of office space being delivered without a tenant. I get Austin is exploding and companies are relocating/expanding there, but I wonder how quickly that can be filled up.

[Urbannizer]

Originally Posted by futuresooner

Now, while that's not surprising, that is a rather large amount of office space being delivered without a tenant. I get Austin is exploding and companies are relocating/expanding there, but I wonder how quickly that can be filled up.

This will likely hinder other office projects from moving forward. It’s also being said that Google is reconsidering their lease at Block 185.

[Urbannizer]

Sixth and Guadalupe Mixed-Use Tower Tops Out as the Tallest Tower in Austin

AUSTIN, Texas, Nov. 1, 2022 /PRNewswire/ -- Standing taller than any current building in Austin, Sixth and Guadalupe has topped out at its final height of 865 feet. This much-anticipated milestone has been two and a half years of a steady vertical climb and was met successfully, even with a backdrop of skilled labor shortages, a pandemic, and market inflation.

Sixth and Guadalupe is owned and managed by Kairoi Residential, Lincoln Property Company, and DivcoWest. Construction is led by JE Dunn Construction and designed by Gensler.

[sewaneetigers]

6x this evening

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[TempleGuy1000]

Bad timing
Why Office Buildings Are Still in Trouble - New York Times

In a sign of how fast the market has turned down in some places, companies are giving up space that they leased only months earlier. Meta, the parent of Facebook, recently decided to sublet all the space that it signed up for about 10 months earlier in an Austin, Texas, office tower called Sixth and Guadalupe. Meta must still pay the rent on 589,000 square feet, but its decision to find somebody else to occupy the space could push rents down across Austin,

Edit: I didn't read the last few posts, so sorry for the repost.

[Urbannizer]

[Riverranchdrone]

[IMG]Austin from Pease Park by Jason Luebbe, on Flickr[/IMG]

[photoLith]

Wow, that building looks huge compared to everything else.

[Ecopolisia]

Originally Posted by photoLith

Wow, that building looks huge compared to everything else.

And,there's so much more to come.Equally as huge and tall(and even taller) and in different variations and shapes. Exciting times ahead for Austin in particular, especially amongst medium-big cities in the States.Greetings a Dane btw,who are fascinating about the overall US modern (as well as the solar opposite) architecture ..lol..

[BVictor1]

My first visit to Austin. There's certainly a lot of construction happening, but the parking podiums on these towers, YIKES!!! 1,600 parking spaces. really?

02.19.23








02.19.23

[KevinFromTexas]

Nice. I haven't seen it from the capitol grounds yet, but it looks good there.

[Urbannizer]

[Urbannizer]

• Video Link

[Zapatan]

What makes them think there's a height increase?

Building looks great though, I really like this one.

[KevinFromTexas]

Originally Posted by Zapatan

What makes them think there's a height increase?

Building looks great though, I really like this one.

He was speculating that the columns at the very top were an additional height decision, but they aren't. Those are the mechanical screen/parapet supports. That's the part of the building that will be the crown and be lit at night.

[Urbannizer]