Kilroy Realty Corp. has purchased a 2.9-acre development site in Austin’s Domain submarket for $40 million. The site is fully entitled for approximately 493,000 square feet of new class A office development.
The site is located near the intersection of Burnett and Braker and is adjacent to numerous amenities, including Austin’s Q2 MLS Stadium, the Domain Mall and the future McKalla light rail stop, which will connect from Northwest Austin through Downtown. The Domain office submarket has long been one of Austin’s most coveted locations for the world’s most innovative companies including Amazon, Meta, Indeed and Expedia. Class A vacancy in this submarket is approximately 1 percent.
Entitlements have been fully secured, and construction could commence as soon as mid-2022, with delivery occurring in 2024. Upon completion, Kilroy Realty will own approximately 1.2 million square feet in Austin.
