To lure recruits, Austin firms look for higher-end digs


In the Austin metro area’s office market, real estate experts say they are noticing a “flight to quality” trend — tenants looking for better office pace in an effort to attract and retain talent.

“Demand is greatest for newer space in well located areas,” said Diana Holford, senior vice president in Austin with commercial real estate firm JLL.

“Walkable amenities, such as places for lunch, hotels and recreation, are paramount.”

Demand is particularly strong for space downtown and at the Domain in North Austin, Holford said, where “new projects continue to lease quickly at ever-higher rental rates.”

A recent example, Holford said, is Austin-based NSS Labs. The cybersecurity company, which has about 100 employees, is moving from 17,000 square feet on Wild Basin Road off Capital of Texas Highway (Loop 360) into 23,000 square feet in The Park at Barton Creek at MoPac Boulevard and Loop 360.

“Our industry, cybersecurity, is the fastest growing technology market and has the lowest rate of unemployment,” said CEO Vikram Phatak. “As a rapidly growing company, we were looking to create the best possible environment to attract the right talent.”

Key attributes for the new office space were ample parking, a fitness center with showers and a location with a “reasonable commute,” Phatak said. NSS Labs also wanted to be along the Loop 360 corridor and near the airport and major roads.

“We needed our new space to incorporate the right environment for collaboration with inviting meeting rooms, break rooms and a kitchen,” Phatak said. “We look forward to moving to our new location to further our continued growth and foster our culture and mission to make the world a better and secure place.”



Reader Comments ...


Next Up in Business

6 legit money-saving hacks for apartment renters
6 legit money-saving hacks for apartment renters

From the moment you start searching for an apartment until your last goodbye to the landlord, there are numerous fees, utility costs and more than can make having your own place a little more expensive than you planned. There are several money-saving hacks to trim some of those added costs, according to frugal bloggers, lifestyle pro's and real estate...
Petitioners prevail in Austin Board of Realtors election
Petitioners prevail in Austin Board of Realtors election

The Austin Board of Realtors will begin 2018 with seven newly elected directors who all campaigned on a platform of greater transparency for the 13,000-member organization. The seven new directors, whose terms start Jan. 1, include Austin real estate agents Cord Shiflet and Brian Talley, who the board had ousted on Aug. 2. In published reports, board...
Central Texas home sales decline 4.3% in September
Central Texas home sales decline 4.3% in September

Single-family home sales declined across most areas of Central Texas in September, while the median price in the region overall rose more than 5 percent, to $291,464, the latest figures show. In its monthly report released Tuesday, the Austin Board of Realtors said there were 2,433 home sales in the Austin-Round Rock metro last month, down 4.3 percent...
LA Fitness plans new gym in Cedar Park
LA Fitness plans new gym in Cedar Park

LA Fitness is continuing its push into Central Texas, unveiling plans this week to build a new location in Cedar Park. The 34,000-square-foot gym will serve as anchor of Cedar Park Plaza, a strip center at the northeast corner of Whitestone Boulevard and Bagdad Road. “As LA Fitness continues to expand in North and Central Texas, this location...
Central Texas home sales decline in September
Central Texas home sales decline in September

Single-family home sales declined across most areas of Central Texas in September, while the median price in the region rose more than 5 percent, to $291,464, the latest figures show. In its monthly report, the Austin Board of Realtors said there were 2,433 home sales in the Austin-Round Rock metro area last month, down 4.3 percent from September 2016...
More Stories