Company will occupy approximately 21,688 square feet on the 17th floor of 500 West 2nd under new long-term lease agreement
AUSTIN, Texas – October 28, 2016 – CBRE Group, Inc. today announced plans to relocate its Austin office to the 17th floor of 500 West 2nd Street in downtown Austin. The commercial real estate services firm signed a long-term lease to occupy 21,688 square feet in the fall of 2017.
The new office is part of CBRE’s global “Workplace360” initiative, the company’s leading-edge approach to workplace strategy designed to promote flexibility, mobility and productivity through technology-enabled, 100 percent-free address and paperless offices.
Based in part on research that shows that employees spend approximately 50 percent of their time at their desks, CBRE’s Workplace360 initiative provides a flexible way of working and a system of places, technologies and behaviors that allow for choice based on an employee’s changing needs throughout the day. A free-address and paperless environment with no assigned workstations, Workplace360 offices feature a variety of work settings—a balance of both collaborative and private spaces—from which employees can self-select depending on the project at hand. Enhanced technology that supports this mobile way of working is a core element of every Workplace360 office.
“CBRE is committed to being the leader in emerging workplace strategies,” said Scott Senese, Senior Managing Director for CBRE’s Central Texas region. “With state-of-the-art technology, and an increased emphasis on internal collaboration and flexibility, our new Workplace360 office will be an environment that will enable us to serve our clients better than ever before.”
“The design and functionality of our new space will reflect input provided by our Austin employees throughout the planning process,” said Cicily Scharlach, program manager for CBRE’s Workplace360 initiative. “The office will a have a café space that can be used for collaborative working as well as events, floor-to-ceiling windows and visuals inspired by Austin’s signature brand.”
500 West 2nd is part of a 1.2-million-square-foot, urban mixed-use development in the vibrant 2ND Street District of downtown Austin. The 29-story building comprises 489,403 square feet of office and 11,033 square feet of ground floor restaurant and retail space. 500 West 2nd has top of the line amenities, including a 14th floor conference center and great room with outdoor terrace overlooking Lady Bird Lake; a fitness center on the mezzanine level with lockers and showers; and Austin’s first office building elevator dispatch system.
CBRE is currently on the 5th floor of 100 Congress in the Austin central business district.
CBRE’s in-house Workplace Strategy team is leading the implementation of the new space, and CBRE’s in-house Project Management team is overseeing the interior construction process.
CBRE’s Russell Young and Nate Stricklen represented CBRE in the transaction. CBRE’s Troy Holme, Casey Ford and Katie Ekstrom represented the landlord, Trammell Crow Company and joint venture partner Principal Real Estate Investors.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
