Industrious to Expand Texas Presence with New 30,000 Square-Feet Space in Austin
Coworking operator Industrious is on a mission to solidify its presence in Texas with a new flex workspace in Austin, in what is considered a significant lease in a five-story office building. The location was leased by Industrious in June, with plans to operate by mid-September.
According to the Austin Business Journal, Industrious has taken up 30,000 square feet at 7001 Burnet Road, which is owned and developed by Colina West Real Estate, under David Kahn. This brings Industrious’ overall footprint in Austin to almost 170,000 square feet.
The lease is a result of Industrious’ recent 19,000 square foot expansion into the downtown Austin skyscraper located at 5th and Colorado. With around 400,000 square feet, WeWork is the largest coworking provider in Austin and the only operator ahead of Industrious.
The five-story facility is conveniently located between The Domain and downtown Austin. It offers move-in ready spaces, which are becoming a more and more popular choice for businesses trying to cut down on the time and expenses associated with office build-outs.
ECR Partner Jason Steinberg, in charge with the lease of the property, said the following: “For a lot of technology companies and creative groups … they’re startups that are planning to grow. They don’t want to spend eight months planning an office and then moving out a year later.”
There is still space available for direct lease in the 7001 Burnet building, including two full-floor locations totaling approximately 14,800 square feet and a 4,100-square-foot office. Covered patios and parking garage access are also among the building’s features.
“We have several other restaurant and retail offerings we are currently evaluating for the project,” said David Kahn. “We want to make sure the retail is a great attraction for the office tenants in the upper floors as well as for the surrounding neighborhoods.”
