Kilroy Realty Adds Tenant at Austin Trophy Tower

Indeed Tower

Design, architecture and engineering firm Page has signed a 51,000-square-foot, 15-year lease at Kilroy Realty’s Indeed Tower in Austin. Page was the architect of the LEED Platinum-certified, 36-story office building located at 200 W. Sixth St. in the city’s Central Business District.

Kilroy Realty picked up the office tower back in 2021 for $580 million. The 734,000-square-foot building features floorplates averaging 34,000 square feet and 35,000 square feet of retail. Amenities include a conference center and fitness club, as well as a 17,000-square-foot outdoor green area.

CommercialEdge data shows that recruitment advertising network Indeed currently occupies 306,632 square feet at the Class A+ property. Vinson & Elkins and Brown Advisory Group are also among the building’s tenants.

Earlier this year, Kilroy Realty expanded its presence in the Austin market with the $40 million off-market purchase of a 2.9-acre site in the Domain submarket, where the company will develop a 19-story office tower.

A leading market for office construction

According to a recent CommercialEdge report, Austin’s office vacancy rate was at 17.6 percent as of September, 250 basis points higher over the year. The value is also 100 basis points above the national average of 16.6 percent.

However, Austin is still leading the nation in terms of office construction relative to existing stock. The metro’s pipeline, totaling more than 7.4 million square feet, amounted to 8.5 percent of stock as of September.