CIM Group Delivers Creative Office Space in Austin
- Jun 23, 2020
CIM Group has completed the first newly constructed building at its adaptive reuse project in Austin, Texas, adding the 44,025-square-foot Building E to its Penn Field office campus.
Construction on Building E, previously known as Building L, began in May 2019 with the aim to expand the creative office space offered by CIM’s Penn Field mixed-use campus. As the only new construction, Building E was designed to match the industrial background of the existing properties in Penn Field.
The two-story property was designed with large floorplates on each level, high ceilings, floor-to-ceiling windows and outdoor patios and terraces. Building E was developed to accommodate either a single user for the entire 44,205-square-foot property, users who want a full floor that is approximately 21,000 square feet, or tenants looking for smaller floorplates starting at 8,000 square feet. According to CIM, the shell spaces are ready to be designed and built to a tenant’s specifications and needs.
The campus is located by Interstate 35 and Highways 71 and 290, as well as more than 3 miles away from downtown Austin.
Converting a former air base to creative offices
CIM’s Building E is the first new building constructed in Penn Field and the 11th building overall within the 16-acre campus located at 3601 S. Congress Ave. The mixed-use property was an adaptive reuse project that converted a 1918 U.S. Army air base and its old brick structures into a creative office campus that is now home to many tenants including Gibson Guitars, iHeart Radio and Pandora.
With 11 buildings in total, Penn Field currently offers floorplates that range from 541 square feet to the full 44,205-square-foot capability of the new Building E. While Building E has shell spaces, the other vacancies are either second generation or are move-in ready.