Kilroy to expand into Austin, Texas, with the purchase of Indeed Tower, located in Austin’s vibrant central business district.
Kilroy is currently in escrow with a target closing by the end of June to complete this $580MM acquisition.
With shell completion in May 2021, Indeed Tower is a stunning workplace and retail property. Ideally situated on an entire city block, the project encompasses a 36-story tower totaling 730,000 sq.ft., an urban plaza, and a 35,000-sq. ft. historic post office reimagined into a new amenity concept. Surrounded by an abundance of lifestyle conveniences and a walk score of 99, the project includes retail, ten private terraces, a 7,500 sq. ft. conference center, and a high-performance gym. On par with Kilroy’s commitment to sustainability, Indeed Tower targets LEED platinum certification.
“I can’t overstate how well Indeed Tower fits with our strategic and property objectives. It is arguably the best building in Austin, is in one of the best locations, provides us with scale that will support future growth, is anchored by an investment grade technology tenant and provides a value-add opportunity through lease-up in an office market that is strengthening,” said John Kilroy, the company’s chairman and chief executive officer.
This monumental acquisition creates a platform for Kilroy’s strategic growth in the region and enhances the company’s tenant profile. As a company that understands how real estate shapes productivity and creativity, our strength lies in providing versatile, activated environments. Indeed Tower perfectly aligns with Kilroy’s brand, and we will champion new ideas while honoring Austin’s unique culture.
Kilroy looks forward to being a part of this energetic, ever-growing city, which is emerging as an innovative hub among some of the most prominent technology companies in the world.