Tenants have a selection of new spaces downtown. One choice is CarrAmerica Realty Corp.'s 300 W. Sixth building, within a block of the Intel building, completed late last year. Two blocks east is Cousin Properties Inc.'s Congress at Fourth building, now under construction with completion set for 2004.

Garcia and others greeted Intel's decision with a mixture of disappointment tinged with relief. "It's not the absolute best decision, but it's a good decision because we have resolution to a question that has been asked by people all over the city," he says.

Charles Betts, president of the Downtown Austin Alliance, echoed Garcia. "I'd be less than honest if I didn't say I was disappointed because we would love to have Intel in downtown Austin," he tells GlobeSt.com. Still, he says, he's pleased that a decision has been made to actively market the building.

Jamil Alam of Dallas-based Trammell Crow Co.'s Austin office has the marketing assignment for the building. He says the marketing process is just getting started and declines to comment on the property or the prospects for a sale.

Intel's Forbis said the company won't need the building, but intends to keep its Austin employment near the current 500 workers. Its overall employee level will be flat for the next few years. Intel had planned to have about 1,000 Austin employees when it moved into the building. Now, it will maintain its Austin offices at 1501 S. Mopac Expressway, Plaza on the Lake and 3307 Northland Dr.