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Apple 215,000-SF office lease in SW AustinApple 215,000-SF office lease in SW Austinhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=10802015-05-08T14:24:00Z2015-05-08T00:00:00Z

AUSTIN - In another sign of its expanding Austin presence, technology giant Apple Inc. has signed a lease for an entire 215,000-sf Capital Ridge office building under construction in Southwest Austin.

The seven-story building is being developed by Austin-based Riverside Resources and is rising on a bluff near Capital of Texas Hwy. and Bee Cave Rd. Opening is set for second quarter 2015.

Apple has been growing its presence in Austin, and the company is in line for millions of dollars in tax breaks to do so.

In the latest employee figures verified by the City of Austin and Travis County, Apple had 4,515 total employees in Austin as of the end of 2014, including 794 contract workers.

The Capital Ridge lease comes just weeks after Apple finalized the purchase of Riata Crossing North, a 350,000-sf office complex in Northwest Austin where its lease was due to expire this year. Apple paid about $84 million for the complex, or roughly $240 per sf.

Riata Crossing is near the new Americas Operations Center that Apple is building. Apple is scheduled to receive about $35 million in incentives for eventually adding 3,600 employees in Austin and making a major capital investment.

Apple has valued its new campus, located at W. Parmer Lane and Delcour Dr., at more than $348 million, according to documents filed with the city.

Austin American-Statesman
Austin-Round Rock
Office
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