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Charles Schwab Bullish on Research Park Plaza

AUSTIN-Charles Schwab & Co. Inc. is bullish on Austin's 23-acre Research Park Plaza, signing its second lease in a month for back-to-back building projects that will deliver in summer 2001. The company will occupy all of the 358,000 sf under construction.

By Connie Gore | Updated on October 25, 2000

AUSTIN-Charles Schwab & Co. is bullish on Austin’s 23-acre Research Park Plaza, signing its second lease in a month for back-to-back building projects, totaling 358,000 sf, that will deliver in summer 2001.

The structures are being constructed via a joint venture of Cousins Properties Inc. and CommonWealth Partners, owners of a 13-acre tract within the development. Schwab plans to use the entire space in both buildings for call centers, a Cousins Properties spokeswoman tells GlobeSt.com. Schwab, which already leases 115,000 sf in the park, has said it plans to employ up to 3,500 at the site. The call center will launch in June, with an initial workforce of about 600 people.

The 184,000-sf Building II had broken ground about two weeks ago. It is to be finished in August 2001, delivering roughly two months after the completion of the 174,000-sf Building I. Meanwhile, the Cousins team is hoping to pre-lease a third building, which will bring another 174,000 sf to the Austin market. That building’s construction start, which will result in full park build-out, will be predicated on its pre-leasing, GlobeSt.com has been told.

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