PerformanceRetail develops and sells software that helps convenience stores manage their supplies. Customers include Amerada Hess, Phillips Petroleum and British Petroleum. PerformanceRetail's products help those companies' retail stores handle their supplies of gas, snack foods and other products.
The company is setting up in Lakewood on the Park in building C at 7600 N. Capital of Texas Highway, in sublease space that had been occupied by i2, a Dallas-based company that develops supply chain software. Kevin Poynter of Mac Haik Enterprises in Houston handled the search and negotiations for PerformanceRetail. Chris Perry of Dallas-based Trammell Crow Co.'s Austin office represented i2. The building is owned by HUB Properties.
The three-story, 78,000-sf building is one of three developed at the site by Hill Partners. The other two buildings are 30,000 sf and 102,000 sf.
The Capital of Texas Highway corridor has been Austin's premier address for high-tech companies since the mid-1980s when firms like KMW Systems and Novell set up in some of its first office buildings. It has, of course, felt the crash of the technology sector. The southwest and northwest submarkets, which count Capital of Texas Highway in their areas, have the second and third highest vacancy rates in the city with 20.5% and 18.9%, respectively. The far northwest submarket has the highest vacancy rate at 33.6% at the end of the first quarter.
A PerformanceRetail insider tells GlobeSt.com that it looked at about 30 buildings in two months. It wanted to be in the area bounded by MoPac Expressway on the east, Capital of Texas Highway on the west, Texas 71 on the south and US Highway 183 on the north.
The company has been recruiting and hiring in Austin. About 20 employees who joined the company in recent months have been commuting to Houston. Two new hires are Austin-based executives Mike O'Rourke and Dean Cruse. O'Rourke, formerly with BroadJump, SupportSoft and Tivoli Systems, has been named PerformanceRetail's vice president of engineering. Cruse, formerly a venture fellow at AV Labs and ichat, has been named vice president of marketing.
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