October 18, 2018 Spaces, a co-working company headquartered in Amsterdam, signed a lease for its first Austin location, taking down 53,000 square feet at 501 Congress Ave. in the CBD. The deal effectively adds 50,000 square feet of agile real estate to downtown Austin, which has a 6.2% vacancy rate. Kelly Woodruff and Mike Cleary with CBRE represented the tenant. JLL’s Brent Powdrill negotiated on behalf of the landlord, AFIAA U.S. Investment Inc. “501 Congress is the ideal location for a Spaces coworking office,” Woodruff said. “This is one of the few creative, non-traditional office buildings available in Austin’s downtown submarket. Spaces launched in 2008, and operates several locations throughout the United States and Europe. The company is owned by International Workplace Group plc (IWG). Connect with CBRE’s Woodruff Connect with CBRE’s Cleary Get CRE News in 150 words For comments, questions or concerns, please contact Amy Sorter Tags: Lease, Office lease office austin texas-news Spaces Signs First Austin Lease Amy Wolff Sorter
Spaces has signed its first lease in Austin, Texas, with a deal for 53,000 sq ft at 501 Congress Avenue in the central business district. The space will be used as an office and retail space, but also houses offices of other tenants such as Google and Microsoft. Kelly Woodruff, who advised Spaces on the deal, said the site was one of the few creative spaces available in the city's downtown.