CBRE Marketing 200,000-Square-Foot Mixed-Use Building For The Employees Retirement System of Texas

CBRE announces the marketing of a 200,000-square-foot mixed-use building on behalf of the Employees Retirement System of Texas (ERS).

This property, located at 200 E. 18^th St., will break ground in late 2018 or early 2019 and is expected to be completed in late 2020 as a site development application has been filed. The building is being designed by STG architects and constructed by Ryan. 

CBRE’s Peter Jansen, Mark Emerick and John Barksdale are representing the Employees Retirement System of Texas.

The building will consist of approximately 15,000-square-feet retail space and 192,000-square-feet office space, with uniquely large floorplates exceeding 34,000 square-feet.

“We are excited to offer space in a modern new structure uniquely located in Austin’s Capitol Complex and Innovation District,” said Porter Wilson, Executive Director of Employees Retirement System of Texas. “The project has the dual benefit of making the most of an underutilized site by adding long-term revenue to the ERS Trust Fund and allowing ERS to address growing needs while remaining within the Capitol Complex.  The building will be a beautiful addition to the neighborhood.”

ERS Board Chair Craig Hester said, “On behalf of the Board of Trustees and the staff, we are pleased with the progress of the project and excited about the opportunity for investment in this new building project which will benefit ERS members and retirees, and compliment business development around the Capitol Complex for years to come.”

At the close of Q2 2018, vacancy rates in Austin’s Central Business District and CBD submarkets were just 2.2 percent and 8 percent, respectively.

“We are thrilled to assist ERS in this endeavor and bring this Class A project to the market,” says Peter Jansen, First Vice President for CBRE’s Public Institutions team.