Job search firm Indeed has secured a subtenant for part of its lease at the Domain Gateway office building in Austin. An unnamed e-commerce company has subleased 108,000 square feet of space at 2900 Esperanza Crossing during the fourth quarter, according to a recent report from JLL. The property is owned by Boston-based AEW Capital Management and was built in 2009.
Indeed has been seeking tenants for its large Austin office footprint for more than two years. The company holds nearly 800,000 square feet across three prominent buildings in the city, with significant portions remaining on the sublease market since mid-2023.
JLL’s fourth-quarter report indicates that technology firms continue to be significant players in Austin’s office sector. Tech companies were responsible for the three largest leases of the quarter, contributing to a positive net absorption of 23,700 square feet. VMware renewed nearly 135,000 square feet at River Place; TikTok’s sublease at Domain Gateway was the second largest; and Nvidia renewed a 79,000-square-foot lease at The Crossing at Lakeline.
According to JLL, tech companies account for almost one-third of tenants pre-leasing projects currently under development.
A correction issued clarified that ByteDance, TikTok’s parent company, is not the new subtenant referenced in this deal.
