Innovation, entertainment center extends Northwest Austin’s tech corridor

In May, Karlin Real Estate Group announced plans for an entertainment district anchored by a pond at the Parmer office park on Parmer Lane just east of I-35.

In May, Karlin Real Estate Group announced plans for an entertainment district anchored by a pond at the Parmer office park on Parmer Lane just east of I-35.

Image description
Parmer Austin
Parmer Lane—Austin’s corporate thoroughfare—along the northern parts of the city has long been home to familiar tech companies such as Apple, Paypal, General Motors, Dell and Samsung.

A new office park called Parmer Austin, a 300-plus-acre parcel of land on Parmer Lane just east of I-35, aims to tap into that tech hub. Five years ago Los Angeles-based Karlin Real Estate Group bought the property with the intent on building flexible, quality and affordable office space.

Bounded by Parmer and Howard lanes, McCallen Pass and Harris Ridge Boulevard, the park already had three former Dell buildings. In 2015, GM moved into one of those buildings, adding a second location for its Austin IT Innovation Center.

Since then, Parmer Austin has slowly taken shape with about 400,000 square feet of new office space built; another 670,000 square feet of office and flex space is under construction to open later in 2018 or 2019; and almost 500,000 square feet of office space is either in permitting with the city or proposed, said Mark Emerick, senior vice president of real estate firm CBRE Group Inc.’s Austin office, which is handling the leasing.

“Development of the park is based on demand,” he said. “We approached meeting the needs of the market in three ways.”

Those include having buildings under construction, having permit-ready buildings and allowing for custom-built construction.

In 2016, The Home Depot took up shop in one of the new office buildings, and next year, 3M will move into two buildings at the office park. Karlin also closed in June on the purchase of the former IO at Tech Ridge Apartments on Parmer. The site had fallen into disrepair after its developer went bankrupt and left it unfinished.

“It’s a perfect complement [to Parmer Austin],” he said. “It’s an eyesore to our community and to us, so we’re looking forward to … revitalizing that plot of land.”

In May, the developer announced plans for an entertainment district anchored by a pond that is planned to open by next spring. Amenities will include an amphitheater and an incubator as well as retail.

“We see an opportunity to create an ecosystem for multiple craft breweries so you won’t have to travel between multiple breweries,” Emerick said. “We want to create a gathering space, if you will.”

But this live, work, play feel of Parmer Austin is not meant to compete with The Domain mixed-used development but rather complement its existing amenities.

“You can get experience of The Domain and amenities it provides, but it’s expensive,” he said. “We’re not trying to be The Domain. We offer the ability to scale and control and grow at the pace that is in line with [a company’s] needs.”

Emerick said CBRE is still seeing a lot of interest in office space in Austin, including from local firms and Fortune 500 companies looking to establish a presence in the city.

“When you look at the park and see Home Depot, 3M, Allergan, GM and Dell across the street—four Fortune 500 companies—that’s making a statement,” he said.


MOST RECENT

Travis County added 670 new coronavirus cases July 4-5.
Austin metro COVID-19 hospitalizations rise to 446 after holiday weekend

Travis County added 670 new coronavirus cases July 4-5.

Overall in Travis County there has been a total of 10,695 cases since mid-March.. (Community Impact Newspaper staff)
Travis County adds 571 COVID-19 cases; new restriction put in place ahead of holiday weekend

Overall in Travis County there has been a total of 10,695 cases since mid-March.

The First Street Foundation's dataset includes a forecast models that anticipate the effects of climate change and sea level rise. (Screenshot via First Street Foundation)
Analysis: FEMA may be undercounting national total flood risk by as much as 70%

The new dataset includes an interactive Flood Factor dashboard that anyone can use to assess the risk of flooding over a 30-year period for any address.

A photo of a person wearing a medical mask
Travis County Judge supports state masking order, says county will enforce

After Gov. Greg Abbot's statewise mandate to wear masks that cover mouth and nose, Travis County Judge Sam Biscoe voiced his support.

A statue of Willie Nelson sits in front of ACL Live at the Moody Theater at the corner of Lavaca and Second streets.
Austin police will no longer arrest for low-level marijuana possession

Austin police will no longer arrest or issue citations for most marijuana possession offenses under 4 ounces.

Williamson County has now recorded 2,388 total COVID-19 cases, including 1,342 that are currently active. (Community Impact Newspaper staff)
Williamson County reports 49 additional confirmed coronavirus cases July 2

Currently, 107 patients are hospitalized and 32 are in intensive care, per the report.

Gov. Greg Abbott
Gov. Greg Abbott: Texans must wear masks in public starting July 3

"COVID-19 is not going away," Gov. Abbott said. "In fact, it is getting worse."

When interest rates are low, homeowners may look to save money by refinancing, which means getting a new mortgage with a better term or interest rate to lower payments. (Source: Matt Frankel/Community Impact Newspaper)
'Refinancing isn't free:' How to navigate refinancing a mortgage

When interest rates are low, homeowners may look to save money by refinancing, which means getting a new mortgage with a better term or interest rate to lower payments.

Episcopal Health Foundation
Survey: Texans support emphasis on improving economy, safety, pollution to address overall health

“COVID-19 is clearly showing what Texans already know: the state needs to address underlying, non-medical conditions that have a dramatic impact on their health,” Episcopal Health Foundation President and CEO Elena Marks said.

In the course of a month, the number of patients admitted to the hospital due to COVID-19 has increased more than fivefold, according to Austin Public Health data. (Design by Shelby Savage/Community Impact Newspaper)
Deluge of new COVID-19 cases forces Austin-area health officials to limit testing, shift tracing strategy

Fighting antiquated fax machines and a sharp rise in the demand for testing, officials said contact tracers are not able to get in touch with residents quickly enough to prevent the spread of the virus.

CommunityCare Health Centers drive-up coronavirus testing site
CommUnityCare will no longer test asymptomatic people for COVID-19 as testing demand swells

CommUnityCare Health Centers is now only testing individuals who show symptoms, those who have a known exposure to the coronavirus or those with other existing health conditions.

The H-E-B Austin Symphony July 4th Concert & Fireworks will not take place this year due to concerns about the spread of the coronavirus. (Courtesy Ricardo Brazziel)
Read the latest on 4th of July celebrations in Central Texas

Area cities have canceled or modified their Independence Day events.