Goodall tapped Jay Lamy of the Austin office of Staubach Co. to negotiate the renewal. Ralph Bistline, vice president of leasing in Austin for Prentiss, represented the company.Lamy tells GlobeSt.com that the law firm has been in the three-building complex's Building 2 for 15 years. He declined to disclose the length of the renewal term.
Cielo Center at 1250 S. Capital of Texas Highway was built in 1984. It has a total of 270,441 sf.
The southwest submarket's vacancy rate was 22.22% at the end of the third quarter, up from 20.5% at the end of the first quarter. Rental rates averaged $22.59 per sf, down from $24.24 per sf in the first quarter.
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