Apple Acquires 82K SF Office Building in Westlake to Grow Austin Presence

Apple's recent acquisition of an entire office building in the thriving Westlake area has sparked renewed hope for Austin's real estate market. Amidst challenges presented by the pandemic, the tech giant's decision to lease 82,000 square feet in the Las Cimas I building signifies a turning point for the city. With office vacancies reaching unprecedented levels, this strategic move by Apple is a ray of optimism shining through the shadows cast by the recent economic downturn.

Redefining the Landscape

Located just 10 miles west of downtown Austin, the 82,787-square-foot Las Cimas I building is set to undergo a transformation with Apple's forthcoming presence. Tthe deal, facilitated by Cushman & Wakefield, marks a significant milestone in the city's real estate landscape. Apple's lease not only signals a resurgence in office space utilization but also underscores the company's commitment to fostering innovation in the heart of Texas.

Embarking on a Makeover

A vibrant transformation is underway at the address 804 Las Cimas Parkway. Witnessing an $18 million renovation effort, the three-story building is undergoing significant updates. While the recent filing with the Texas Department of Licensing and Regulation doesn't include Apple as a tenant, the scheduled completion of this project is set for October. The design reinvention is under the guidance of Oz Architecture.

Apple's Growing Presence in Austin

This expansion complements the ongoing construction of a massive $1 billion campus in the Northwest Austin area. Boasting nearly 10,000 employees in the metro region, Apple secures its position as one of the area's top private employers.

Specialized Personnel Relocation

Demonstrating its commitment to the city, Apple has made strategic moves by relocating skilled staff from San Diego, specifically those well-versed in artificial intelligence and Siri technology. In addition to these personnel changes, Apple's Austin portfolio includes the Americas Operations Center near Parmer Lane and a substantial seven-story, 217,000-square-foot building situated at 320 South Capital of Texas Highway.

Embracing a Vision for Growth

Apple's expansive Northwest Austin facility, sprawling over 3 million square feet, is eagerly anticipated. The development will feature a collection of 12 meticulously designed office buildings, complemented by convenient parking garages, a central utility plant, and a dedicated daycare edifice. Moreover, there is buzz about the potential addition of a 192-room hotel and conference center on the site, further enhancing its allure.

Forging Ahead in Westlake

In continuation of strategic expansion efforts, Apple secured its presence in Westlake with a prominent lease agreement, ranking as the fourth-largest in Austin within recent times. Notably, a significant lease transaction took place in the Domain district of North Austin last May, with IBM committing to a substantial 320,000 square feet at a 500,000-square-foot office project led by Houston-based Hines - underscoring the dynamism of the local real estate landscape.