North Austin: General Motors buys 303,000-SF office buildingNorth Austin: General Motors buys 303,000-SF office buildinghttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=3362015-07-17T11:46:00Z2015-07-17T10:10:00Z

AUSTIN - General Motors has purchased a 303,000-sf office building to expand its IT Innovation Center — a business division the automaker created in 2012 to bring its IT functions back in house.

The purchase of the 302,604-sf building at 13201 McCallen Pass was announced by the seller, Karlin Real Estate based in Los Angeles.  

Currently, there are four GM Innovation Centers across the country — in Michigan, Georgia, Arizona and Austin.

GM already leases 320,000 sf nearby at 717 E. Parmer Lane. That building is owned by an entity formed by Gladstone Commercial Corp., which purchased the property from Karlin in 2013 and immediately leased it to GM.

When GM announced the opening of the Innovation Center, company officials said about 500 employees would be hired in Austin. It would seem that number could grow with the new acquisition. On its website GM shows 75 jobs available in Austin.

A year ago, Karlin announced its partnership with Trammell Crow to develop the rest of the land as Parmer, a mixed-use, master-planned commercial and residential community that would be built over multiple years. Generally the area is east of I-35 between Howard and Parmer lanes.

The first element of the new build space is Parmer 3.2, a 192,000-sf office building, which is nearing completion. That property has not been leased as yet.

Mark Emerick and John Barksdale of CBRE Group Inc. in Austin were at the center of the transaction.

Read more at the Austin Business Journal and KXAN.com.

See Austin NewsTalk Texas and Austin Market Research.

Austin Business Journal
Austin-Round Rock
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