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Meta Pulls Back on Anchoring Austin's Tallest Building

Social media giant will sublease 589K SF of 66-story tower set to open next year.

With its stock price collapsing in recent weeks as Mark Zuckerberg implores investors to patiently await the dawning of the Metaverse—losing almost three-quarters of its value and putting an estimated $71B dent in Zuckerberg’s personal e-wallet—social media giant Meta continues to shrink its national office footprint.

The Facebook parent has announced it will not occupy a 589K SF lease it signed in January for all of the office space in what will become Austin’s tallest building when it opens next year, a 1.14M, 66-story mixed-use tower at 400 West Sixth Street being developed by Lincoln Property.

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Jack Rogers

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