Domain 12 (Rendering), Austin, TX

May 15, 2018 Comments (0) Views: 548 Austin, Texas News

TIER REIT Readying to Build Domain 12

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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