Further Example of East Side on the “Rise”
December 4, 2017, Austin, TX—Cushman & Wakefield is proud to announce that after more than 25 years in the same location, one of its most innovative software clients, SAS, is moving from their 94-acre Austin campus on RR 620 near RR 2222 to a new office building currently under construction at 1801 E. 6th St. This is the first announcement of a major tech employer relocating to Austin’s exciting and rapidly developing office market just east of the central business district.
Riverside Resources is constructing the Class A office development and plans to complete the five-story building in the first half of 2019. SAS pre-leased the top floor of the building, providing the required commitment for Riverside Resources to secure financing for the development. SAS plans to use the roughly 30,000 square foot space as a southwest region customer support hub.
Rick Whiteley and Richard Whiteley of C&W’s Austin office are representing SAS in the relocation, with Richard Hardy and Sethena Leiker of Cushman & Wakefield providing SAS with commercial real estate services throughout the U.S. The Cushman & Wakefield team will continue to represent SAS when the RR 620 campus is put on the market for sale in Q2 2018.
“This is an unprecedented announcement,” said Rick Whiteley, executive director, Cushman & Wakefield. “For the past few years the east side has experienced a significant increase in multi-family residential, and some limited retail redevelopment. Now we’re seeing a surge in multi-story office space construction, which is expected to bring in more established companies like SAS. By trading in suburban acreage for near-downtown proximity, SAS is focusing on providing their employees with an urban quality of life with dozens of walkable amenities, access to the commuter rail line, and being an integral part of a healthy, livable neighborhood.”
“The southwest region of the U.S. is seeing significant technology growth,” said Fritz Lehman, SAS Executive Vice President and Chief Customer Officer. “We want to be conveniently located to provide the services and support our customers need, and this new space in east Austin will do just that.”
1801 E. 6th is just one of many multi-story developments coming to Austin’s east side, such as the 83-room Arrive hotel next door at E. 6th and Chicon streets. This boutique hotel with a unique concept is co-founded by former Facebook executive Ezra Callahan and is bringing a neighborhood-focused culture, which is part of the draw for SAS to this developing submarket. East Austin truly is on the “rise” with the announcements of these upcoming and transformative projects:
- Nine new office buildings currently under construction or announced totaling almost 1 million square feet of space.
- Five new mixed-use developments under construction or planned.
- More than 1,300 new residential units being completed by the end of 2019.
- 115,000 square feet of new restaurant and retail space at Plaza Saltillo.