Case Studies

 

Transaction Details

Client
Accruent

Property
The Domain
Austin, TX

Transaction Size
104,448 SF

Transaction Type
Headquarter Relocation & Expansion

Service Line

Savills Studley Brings Multiple Accruent Austin Locations to One Ideal, Live-Work-Play Global HQ

 

Professional Expertise

Savills Studley has guided Accruent’s office growth in Austin since early 2011, when the country’s largest exclusive tenant representation firm assisted the company in its relocation from Santa Monica, California to 14,000 square feet in Austin. The company has grown dramatically since arriving in Texas and now employs over 450 employees in Austin, and 850 employees worldwide. Accruent ranks as Austin’s second largest local software developer.

Accruent had reached capacity within its two previous Austin office locations at Braker Pointe II (10801 North MoPac Expressway) and Quarry Oaks (10900A Stonelake Boulevard), and required a new space that could support future growth, consolidate operations within one global headquarters, increase productivity, reflect the company’s culture and attract top talent within a highly competitive labor market.

Consideration & Analysis

As the Austin office market has significantly tightened in recent years, few large blocks of Class A office space have come on to the market to support the expansion desired by Accruent at the start of this project. Savills Studley conducted a thorough site selection process and lease negotiations with the landlord. Once the space was identified and lease signed, Savills Studley coordinated significant build-out with project managers, architects and engineers to make this single-story space roughly the area of two football fields, relatable in terms of scale and easy for employees to navigate.

Results

The long-term, 104,448-square-foot lease executed at The Domain by Savills Studley met all of Accruent’s objectives at the start of this project, ranked as one of the largest Austin transactions of 2016 and was named a finalist for lease transaction of the year by the Austin Business Journal at the 2017 Commercial Real Estate Awards.

The Domain is strategically located between Downtown Austin, residential suburbs home to a large talent pool and a growing number of high-tech companies and office parks. Austin’s “second downtown,” The Domain development includes Rock Rose, a residential, entertainment and retail center in close proximity to Accruent’s office, providing the ideal combination of assets for the ideal live-work-play work environment.

Following significant buildout in the new space negotiated by Savills Studley, the new office features high-ceilings; significant natural light; 80 percent open plan seating; low-walled work areas to encourage interaction and collaboration; outdoor break areas; a “cool” reception area; multiple meeting, conference and training rooms; a yoga studio and fitness center; NOC (Network Operations Center), IT labs and IDF (Intermediate Distribution Frame) rooms; as well a multipurpose café area. The design and construction phase of the project was managed by American Realty Project Management (ARPM) for Accruent, interior design solutions were provided by CTA Architects & Engineers.

In conjunction with Savills Studley’s representation of Accruent’s 104,448-square-foot lease for their headquarters consolidation to The Domain, the Austin team successfully helped the firm sublease and assign its existing obligations of over 88,000 square feet at breakeven economics. This was a critical component in making the relocation and consolidation economically feasible.

 

Meet the Team

Stephen M. Walbridge
Executive Vice President, Co-Regional Manager

Stephen M. Walbridge is an Executive Vice President in the Downtown and West Los Angeles offices where he serves in a senior broker capacity. He is also a member of the Board of Directors. His primary focus is on global corporate services and significant tenant representation transactions in Southern California, throughout the United States, EMEA and APAC. He is a senior member of the national law firm advisory group.

+1 310 444 1002

 

Marcus Arredondo
Managing Director

Since joining Savills Studley in 2006, Marcus has completed over 3.1 million square feet of transactions. He supports Savills Studley’s consultative approach by providing detailed market intelligence that allows his clients to optimize their real estate holdings. He is well versed in all real estate trends, analyzing market and building dynamics along with other unique complexities present in office and industrial transactions.

+1 213 553 3832

 

John Scoblick
Corporate Managing Director

John Scoblick specializes in representing corporate clients in negotiating real estate solutions for office, industrial and land requirements across a wide range of industries, including the technology, energy, legal and engineering sectors. John’s integrated business perspective has been developed as a result of executive positions in corporate real estate, energy, commercial real estate services and senior business roles with both start up and multibillion dollar corporations.

+1 512 297 7489

 

Alecia Burdick
Associate Director

Alecia specializes in assisting corporate clients with their office, industrial, and land real estate requirements. Alecia began her career in tenant representation at KMD Studley as an intern and was promoted quickly to Analyst and later to Advisor within two years. She represented tenants in large and often complex real estate transactions including headquarters consolidations/relocations, economic incentive packages, sale leasebacks, and 1031 exchanges.

 

+1 281 627 5091

 

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