Co-Working Group Spends $15M on 53K SF Austin Office

Co-working company Expansive is set to open Expansive Austin Highland, a 48,000-square-foot office in Austin. It’s the companies second location in Austin and sixth statewide. Commercial Search reports the company paid $14.9 million for the 53,415-square-foot office building in March 2022, after landing a $10.4 million loan from Texas Security Bank. Scheduled to open next month, the building has undergone a multimillion-dollar renovation plan.

Completed in 1978, the five-floor property comprises open coworking spaces, dedicated desks, private offices, suites for smaller and larger teams of up to 500 members and on-demand training and meeting rooms. Amenities include an outdoor patio, a shared kitchen and an outdoor penthouse community lounge. The indoor-outdoor lounge also doubles as an event venue.

The flex office provider is bolstering its portfolio in other states as well: in December the company opened Expansive Mesa at Newberry Station, a 20,000-square-foot coworking space in Mesa, Ariz.