The firm occupies about 7,000 sf on the 10,539-sf building's second and third floors and is looking to lease 3,343 sf on the first floor, Chad Marsh, an Endeavor principal, tells GlobeSt.com. Although the building falls into the central submarket's boundaries, it's just two blocks west of the CBD's western edge of Lamar Boulevard.
The real estate company had been a subtenant of the Armbrust and Brown law firm at the 100 Congress building. "While we really liked that relationship with Armbrust Brown, we had grown to the point where we were out of space," he says. "We needed more square footage." The company has about 45 employees, although not all of them work out of its office.
"We wanted to be in or near the downtown," Marsh says. "One of the paramount concerns was the parking costs. We have surface parking, it's a lot easier getting in and out and the costs are a lot less."
Endeavor bought the building about a year ago and spent that time renovating it. Marsh declines to say how much Endeavor paid for the building or the renovation cost. The building is on the Travis Central Appraisal District rolls at $1.2 million.
The renovation included removing the brick exterior and replacing it with sandstone, installing a new heating and air conditioning system, putting on a new roof and adding a new window system. The final piece was the Endeavor sign that greets motorists headed into the downtown on Fifth Street. Endeavor was created in 1999 and develops, leases and manages office, industrial and retail space.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
