Hines secures IBM to anchor new office tower in Austin

CBRE has arranged a significant pre-lease with IBM to anchor a new 507,200-square-foot next-generation office development planned by Hines on the north end of The Domain, known as Austin’s “second downtown.” IBM plans to relocate and consolidate its two current office locations near The Domain at the highly amenitized building, slated for occupancy by 2027.

CBRE’s Bo Beacham and John Barksdale represented the developer, Hines, in the transaction.

Hines’ new Class AA development within The Domain will comprise of two 14-story interconnected towers with exclusive lobbies for each tower and exterior aesthetics that will set a new bar in the Dominion submarket. Catering to the needs of the modern workforce, tenants will experience multiple amenity decks on the ninth floor, private balconies on each floor, outdoor sports amenities, and a high-end fitness and conference center. Additionally, the property will place a heavy emphasis on ESG, and is being designed for LEED Gold certification and will seek WELL Platinum, WiredScore Platinum, and Austin Energy Green Build distinctions. Construction is anticipated to begin in late 2023.