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RBC Wealth Administration has signed a 11,710-square-foot, seven-year lease at Uplands Company Heart, a two-building Class A workplace campus within the Southwest submarket of Austin, Texas.
The tenant, a division of RBC Capital Markets LLC and a part of Royal Financial institution of Canada, will open its workplace by the tip of this 12 months on the Uplands II constructing.
Drawbridge Realty is the proprietor of the 291,448-square-foot property. With the closing of this deal, there are 14,000 sq. ft of remaining house accessible for lease.
READ ALSO: Austin Workplace Market Instructions Excessive Costs
Present tenants at Uplands Company Heart embrace Tricentis USA Corp., WuXi Medical, Quisitive, Kimley-Horn and ResearchPoint World, amongst others, in response to CommercialEdge.
Cushman & Wakefield’s Govt Director Rick Whiteley negotiated on behalf of the tenant, whereas the corporate’s Govt Director Matt Frizzell and Govt Managing Director Kevin Granger represented the owner and are answerable for leasing.
A better have a look at the Austin workplace campus
Drawbridge Realty acquired the 167,368-square-foot Uplands I in 2014 for $42.5 million, from vendor CBRE Funding Administration, the identical supply reveals. The proprietor added a second constructing to the campus in 2021. The 124,080-square-foot venture was topic to $33.4 million in development financing, supplied by Financial institution of America.
Designed by Levy Architects, the Uplands II is the primary constructing in Austin to realize all three LEED, WELL Compliant Silver Constructing and RESET Air Customary certifications. The property’s HVAC methods function UV purifiers and excessive change charges for out of doors air, permitting for an improved air high quality.
Accomplished between 2007 and 2021, the campus consists of 5 passenger elevators, collaborative lounge with lined and uncovered areas, eating areas, parking spots and EV charging stations. Each buildings additionally present entry to an on-site health heart, adjoining backyard and a meals truck courtroom with working and strolling trails.
Situated at 5301 Southwest Parkway, the property is 8 miles from downtown Austin, 13 miles from Austin-Bergstrom Worldwide Airport and inside 33 miles of San Marcos Regional Airport.
Leasing exercise within the metro
As of August, Austin’s workplace emptiness fee clocked in at 27.8 p.c, marking a 660-basis-point improve over a 12-month interval, in response to a latest CommercialEdge report.
Earlier this month, IBM signed a 320,000-square-foot full-building lease at Area 12 in Austin, owned by Cousin Properties. The tenant is assuming Meta Platforms’ present dedication on the property, whereas additionally extending its settlement to 2040.
In February, Transwestern Actual Property Companies landed the leasing task of a 521,401-square-foot workplace portfolio within the metro. The gathering, owned by Pacific Oak Capital Advisors, consists of eight buildings throughout three workplace campuses.
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