Michael Boykin of the Austin office of Kennedy-Wilson represented Baxter and Luke Drolet of Yancey-Hausman & Associates' Austin office acted for the building owner, Denver-based Miller Global Properties.
With the move, Baxter increases its office space by 31%. Its offices had been in the Balcones West building at 5750 Balcones Dr., also in the northwest submarket. Baxter, based in Austin, develops and sells software for service parts planning and logistics. It also has offices in California, Colorado, New York and the United Kingdom.
StoneCliff, a 65,000-sf, three-story building, opened this year and is about 56% leased. Drees Custom Homes also has offices in the building.
Kennedy-Wilson reports that class A rental rates averaged $21.54 per sf in the northwest submarket in the third quarter. The submarket's occupancy rate was 77%.
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