{"id":29819,"date":"2021-01-07T12:01:22","date_gmt":"2021-01-07T09:01:22","guid":{"rendered":"https:\/\/www.commercialcafe.com\/blog\/?p=29819"},"modified":"2025-11-12T17:37:29","modified_gmt":"2025-11-12T14:37:29","slug":"7000-west-lantana-austin-office-sale","status":"publish","type":"post","link":"https:\/\/www.commercialcafe.com\/blog\/7000-west-lantana-austin-office-sale\/","title":{"rendered":"Cushman & Wakefield Finalize Sale of Austin Office Property"},"content":{"rendered":"
[vc_row][vc_column][vc_column_text css=””]In late December, Cushman & Wakefield (C&W) announced the sale of 7000 West at Lantana, which incorporates 136,000 square feet of Austin office space<\/a> across two buildings. At the time of the sale, the property was fully leased to medical device company Smith + Nephew and semiconductor company Advanced Micro Devices Inc. Located in the high-barrier submarket of Oak Hill, the acquisition offers institutional-grade credit and stabilized cash flow with durable income.<\/p>\n
\"7000<\/a>

7000 West at Lantana at 7000 West William Cannon Drive, Austin TX<\/em><\/p><\/div>\n

The property features 35,000-square-foot floorplates in both buildings, which are two stories tall. Both phases \u2014 the first completed in 1998 and the second in 2001 \u2014 incorporate a total of 136,075 square feet of class A office space. The property at 7000 West at Lantana is spread across an 11-acre lot that features major street exposure along West William Canon Drive. Plus, its location near the Southwest Parkway also benefits from convenient access to state highways 71 and 290, as well as the Texas Loop 1 freeway.<\/p>\n

\"7000<\/a>

7000 West at Lantana at 7000 West William Cannon Drive, Austin TX<\/em><\/p><\/div>\n

While the buyer was not represented by a broker, Cushman & Wakefield\u2019s Celeste Fowden, Ryan Stevens and Mike McDonald of the C&W Sunbelt Institutional Capital Markets team represented the seller. The sale price was not disclosed.<\/p>\n

\u201c7000 West at Lantana is a first-generation office asset developed in 1999\/2000 as part of the Lantana master plan,\u201d McDonald said. \u201cAs the Southwest Parkway corridor has matured, these assets have evolved into semi-specialized buildings with significant R&D lab components. Investor and tenant demand alike remain strong for specialized office\/lab product like 7000 West.\u201d<\/p>\n

Tech Scene Grows Bigger in Texas<\/h2>\n

Despite a particularly challenging year for the office sector, office markets in Texas continued to attract notable interest in 2020. For instance, tech giant Hewlett Packard Enterprise \u2014 which already had an established Texas presence with hubs in Austin and Plano \u2014 announced plans last year to relocate its Silicon Valley corporate headquarters to a new facility in the Houston metropolitan area. Specifically, the company is building a 440,000-square-foot, two-building campus in the Houston suburb of Spring to accommodate the relocation. Delivery of the new office property is scheduled for 2022.<\/p>\n

Meanwhile, Austin continues to be a particularly attractive Texas destination for tech enterprises. The latest Silicon Valley leader to announce corporate relocation is Oracle \u2014 the second-largest producer of software in the world departed its landmark Redwood City headquarters in favor of the Texas state capital. The company began transitioning to Austin in 2018 with the Phase I completion of its massive, live-in campus. Sprawling on a 40-acre lot on the south bank of Lady Bird Lake, the campus opened with an initial occupancy of 5,000 employees. Eventually, it\u2019s projected to be able to accommodate up to 10,000.<\/p>\n

\"Oracle<\/a>

Oracle Waterfront Campus at 2300 Oracle Way, Austin TX<\/em><\/p><\/div>\n

The tech giant announced the move in a regulatory filing, which stated: \u201cOracle is implementing a more flexible employee work location policy and has changed its corporate headquarters from Redwood City, California, to Austin, Texas. We believe these moves best position Oracle for growth and provide our personnel with more flexibility about where and how they work. By implementing a more modern approach to work, we expect to further improve our employees\u2019 quality of life and quality of output.\u201d[\/vc_column_text][\/vc_column][\/vc_row]\n<\/div>","protected":false},"excerpt":{"rendered":"

Despite a particularly challenging year for the office sector, office markets in Texas continued to attract notable interest in 2020. Austin continues to be a particularly attractive Texas destination for tech enterprises. <\/p>\n","protected":false},"author":48,"featured_media":29824,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[37,38,4014,39],"tags":[],"class_list":["post-29819","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-deals","category-featured","category-office","wpautop"],"acf":[],"yoast_head":"\nC&W Wraps SW Austin Office Sale | CommercialCafe<\/title>\n<meta name=\"description\" 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