The company, founded in January 1999, plans to add staff in sales, marketing, support and development. "The move will facilitate the growth of these operations," Joe Trammell, CEO and co-founder, said in a prepared statement. "Give the current economic climate, we see this expansion as a very positive sign for our company."
The NetQoS lease is a sublease of a sublease and its broker was Dallas-based Staubach Co.'s Austin team The tenant previously was at 7700 Chevy Chase Dr. in the northeast submarket.
Known as the Millennium Building, the 136,000-sf structure in Austin's northwest submarket is owned by National Instruments Inc., which is in the process of moving its operations to its three-building headquarters site on North MoPac Expressway.
The lease is welcome news in the northwest submarket, which has been hard hit by the closing and cutbacks at technology companies. The area has the highest sublease vacancy rate in the city. Started by Trammell and Cathy Fulton, executive vice president and chief technology officer, NetQoS was funded in 2000 with $11 million in venture capital from Boston-based Liberty Partners.
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