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Zydeco Development secures retail lease with popular Austin coffee spot
Austin, December 5, 2017 – On behalf of Zydeco Development, JLL announced today the firm has successfully negotiated a new retail lease for Austin Java at MetCenter, Austin's mixed-use business park located in Central Austin. The locally-based eatery will open its newest location within Building 12 located in the heart of MetCenter II.
"The Austin Java family is very excited to have been asked by Zydeco to be the first restaurant at MetCenter Phase II," said Clint Rogers, co-owner of Austin Java. "We look forward to working with them and servicing the community with some great comfort food, and look forward to being open soon."
JLL's Agency team is the exclusive leasing partner on the project.
"Austin Java is an Austin institution and we're thrilled to have them here at MetCenter," said Brent Powdrill, Vice President, JLL. "MetCenter is adaptable to meet the growing needs and demand of tenants in our market. Austin Java joining MetCenter reflects Zydeco's commitment to providing a truly authentic office environment to the market. "
Additional amenities include abundant parking, tree covered hiking and biking trails, basketball and tennis courts, disc golf, activated landscapes with bocce ball and ping pong tables, redundant fiber, and two electric substations on site. To further enhance the amenities, the Zydeco team recently constructed a covered pavilion and will start daily food truck service early next year.
Located in the Central Core of Austin, MetCenter has easy access to major thoroughfares such as Highway 71, Highway 183 and SH 130, and is less than five miles from downtown Austin and adjacent to Austin–Bergstrom International Airport. Expansions to Highway 183 with the addition of new toll lanes will significantly increase the accessibility to MetCenter from Austin's northern submarkets.
Buildings 12 through 15 at MetCenter are now online and are drawing the attention of perspective tenants interested in being near downtown without having to pay high downtown rental prices. The office park currently has a site available for a 670,000-square-foot office campus with Highway 183 frontage.
MetCenter will break ground next year on a creative office campus providing 410,000 square feet of space designed with tech, creative office and life science users in mind. The Zydeco Development team studied and toured similar properties in California and in the Northeast to understand how to incorporate these features into the project.
According to JLL Research, the average price for office space in downtown Austin is hovering around $60 per square foot, whereas the price for suburban offices tops around $40 per square foot. MetCenter comes in at $27 per square foot. Recent office tenant additions at MetCenter include AllClear ID, PHRG and Seton Healthcare.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $145 billion. At the end of the third quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of over 80,000. As of September 30, 2017, LaSalle Investment Management had $59.0 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
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