The Greater Austin Chamber of Commerce has purchased 20,000 square feet of office space for $4.5 million in the Austin Hilton Hotel according to an Austin Business Journal article. The space, previously occupied by Faulkner USA, will house 45 employees currently at 210 Barton Springs where the Chamber's lease expires next year. The Chamber will move to the Hilton at 500 E. Fourth St. this coming March.
"The Board was very, very excited about the prospects for this, and very excited that the Chamber of Commerce is going to have a permanent home," said Chairman Bobby Jenkins. He added that the new space will give the Chamber "room to grow — and room to meet."
The Chamber reportedly holds hundreds of meetings a year and, due to their current lease only offering 12,000 square feet of space, have had to rent out rooms at local hotels and other venues to accommodate the attendees. Paul Bury, President of Bury + Partners (which was instrumental in the search for the property), said the Chamber will save "significant dollars" by not having to rent off-site meeting space. He explained that hosting the monthly Board meetings elsewhere cost the Chamber as much as $15,000 a year. "After we evaluated everything, the purchase of the space rose to the top," Bury said. "It's just a win, win, win. We haven't really found a negative yet. We're really excited about the opportunity."
For more news and information visit Blumberg Capital Partners.
No comments:
Post a Comment