Case Study

Accruent

TAMI, Professional Services

Savills Brings Accruent’s Multiple Austin Locations to One Ideal Live-Work-Play Global HQ

CHALLENGE

Savills has guided Accruent’s office growth in Austin since early 2011, when the country’s largest exclusive tenant representation firm assisted the company in its relocation from Santa Monica, California to 14,000 square feet in Austin. The company has grown dramatically since arriving in Texas and now employs over 450 employees in Austin, and 850 employees worldwide. Accruent ranks as Austin’s second largest local software developer.

Accruent had reached capacity within its two previous Austin office locations at Braker Pointe II (10801 North MoPac Expressway) and Quarry Oaks (10900A Stonelake Boulevard) and required a new space that could support future growth, consolidate operations within one global headquarters, increase productivity, reflect the company’s culture and attract top talent within a highly competitive labor market.

SITUATION

As the Austin office market has significantly tightened in recent years, a few large blocks of Class A office space have come on to the market to support the expansion desired by Accruent at the start of this project. Savills conducted a thorough site selection process and lease negotiations with the landlord. Once the space was identified and lease was signed, Savills coordinated significant build-out with project managers, architects and engineers. The parties involved set out to make this single-story space roughly the area of two football fields, relatable in terms of scale and easy for employees to navigate.

RESULTS

The long-term, 104,448-square-foot lease executed at The Domain by Savills met all of Accruent’s objectives at the start of this project, ranked as one of the largest Austin transactions of 2016 and was named a finalist for lease transaction of the year by the Austin Business Journal at the 2017 Commercial Real Estate Awards.

The Domain is strategically located between Downtown Austin, residential suburbs home to a large talent pool and a growing number of high-tech companies and office parks. Austin’s “second downtown,” The Domain development includes Rock Rose, a residential, entertainment and retail center in close proximity to Accruent’s office, providing the ideal combination of assets for the ideal live-work-play work environment.

Following significant buildout in the new space negotiated by Savills, the new office features high-ceilings; significant natural light; 80 percent open plan seating; low-walled work areas to encourage interaction and collaboration; outdoor break areas; a “cool” reception area; multiple meeting, conference and training rooms; a yoga studio and fitness center; NOC (Network Operations Center), IT labs and IDF (Intermediate Distribution Frame) rooms; as well a multipurpose café area. The design and construction phase of the project was managed by American Realty Project Management (ARPM) for Accruent, interior design solutions were provided by CTA Architects & Engineers.

In conjunction with Savills representation of Accruent’s 104,448-square-foot lease for their headquarters consolidation to The Domain, the Austin team successfully helped the firm sublease and assign its existing obligations of over 88,000 square feet at breakeven economics. This was a critical component in making the relocation and consolidation economically feasible.