JLL announced that Tricentis, a leader in test automation, has signed a lease to occupy 42,019 square feet of office space within the newly completed second phase of Uplands Corporate Center. This office marks the company’s first location in Austin.
Russell Young of JLL represented the tenant. Kevin Granger and Matt Frizzell of Cushman & Wakefield represented the landlord, Drawbridge Realty.
Tricentis plans to hire more than 100 employees across such departments as Marketing, Finance, Engineering, and Operations.
“Over the past few years, the city has seen a rapid influx of technology companies making their mark on Austin,” said JLL Managing Director Russell Young. According to JLL’s Q4 2021 Austin Office Insight, Austin’s office environment ended the year with 700,999 square feet of positive absorption. Looking forward to 2022, vacancy is expected to decrease as leasing activity has increased each quarter since Q3 2020. In turn, average asking rents have started to climb, reflecting the optimistic outlook for Austin’s office market.