May 15, 2018
Dallas developer TIER REIT is getting ready to begin construction on a 17-story, 320,000-square-foot office tower dubbed Domain 12. Dirt work has already begun on the site, which is situated in far north Austin’s Domain mixed-use development. The building is scheduled for completion by the end of 2019.
TIER indicated it has letters of intent from companies interested in a total of 170,000 square feet, though it isn’t limited to Domain 12. The developer indicated that the LOIs were from a mix of tech and non-tech tenants. According to TIER’s CEO Scott Fordham, the newest building at 11700 Alterra Pkwy. will be the tallest office tower within the Domain.
Austin accounts for 37% of TIER’s net operating income. TIER is the largest office landlord in the Domain, owning 1.2 million square feet. The Dallas REIT recently acquired a partnership interest in the 291,000-square-foot Domain 8 office tower.
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