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

Austin’s Amplify Snack Brands being sold to Hershey for $1.2 billion
Austin’s Amplify Snack Brands being sold to Hershey for $1.2 billion

Austin-based Amplify Snack Brands is being acquired by The Hershey Co.in a $1.2 billion deal, the companies said Monday. The boards of both companies have agreed on the deal in which Hershey will acquire all outstanding stock of Amplify for $12 per share in cash. The deal is expected to close in the first quarter of 2018. Amplify, which makes Skinny...
Up the Ladder

Finance Banker’s Toolbox has named Max Thoene chief operating officer. Government The Texas County & District Retirement System has named Casey Wolf chief investment officer. Health care The Austin Healthcare Council has named Mini Kahlon board chair and Charles Barnett board vice chair. Technology SecureLink has named Chip Pate chief financial...
Top Local Business Stories of the Week
Top Local Business Stories of the Week

3M DEAL 3M to sell Austin unit to Corning in its latest local downsizing: Industrial and consumer products company 3M continues to reduce its Austin footprint, announcing plans to shed a unit based here that makes bandwidth and optical fiber devices for the telecommunications sector — six months after it reached a separate deal to sell its main...
Pair of retail developments planned for Georgetown
Pair of retail developments planned for Georgetown

Two large retail developments, one including an Italian-themed village, are headed to Georgetown at Interstate 35 and Texas 29. Wolf Lakes Village is a proposed 164-acre retail/residential community with arched bridges, a plaza, three lakes and a wedding chapel planned for the northwest corner of the highways’ intersection. It also will feature...
11 rookie mistakes to avoid during the first year of your new job
11 rookie mistakes to avoid during the first year of your new job

Whether you're in your first job straight out of college or are a seasoned professional starting with a different company, your first year can set the tone for success or failure.    Early mistakes can be difficult to overcome and can torpedo your career in the longer term. Each office has its own way of doing things, and it's part of your...
More Stories