Real estate
BY GRACE DICKENS
IBM overtakes Meta’s office space
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Meta’s footprint in Austin has been shrinking for the past few years, as the company seeks to sublease the 600,000-square-foot building at Sixth and Guadalupe it committed to in 2021. IBM will assume control of The Domain lease Jan. 1, 2026, after which IBM employees will make the transition to the new space, per the IBM statement.
In 2026, IBM will take over 320,000 square feet of office space in The Domain currently occupied by Facebook’s parent company, Meta, IBM officials confirmed Sept. 5. This move comes after the company terminated a lease agreement with OneTerra, a 507,000-square-foot office development in Domain Northside once intended to become the new Austin hub for IBM employees. OneTerra is a project planned by Hines, a global real estate and property manager. IBM was slated as an anchor tenant for the development in June 2023, but following the lease termination, company officials confirmed Hines is in active conversations with other potential tenants. “Hines and IBM maintain a strong, positive relationship and look forward to continuing our work on other strategic partnerships, both now and in the future,” IBM officials
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“Austin is an extraordinary ... center of talent innovation, and IBM remains committed to investing in new experiences for our clients and employees in this market.” IBM OFFICIALS SAID IN A STATEMENT
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said in a statement. While the OneTerra space didn’t pan out, an additional lease from IBM for 50,000 square feet was announced in January of this year for Parmer Impact Labs, located in Parmer Austin.
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