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Spaces Signs First Austin Lease

Spaces, a co-working company headquartered in Amsterdam, signed a lease for its first Austin location, taking down 53,000 square feet at 501 Congress Ave. in the CBD. The deal effectively adds 50,000 square feet of agile real estate to downtown Austin, which has a 6.2% vacancy rate.

Kelly Woodruff and Mike Cleary with CBRE represented the tenant. JLL’s Brent Powdrill negotiated on behalf of the landlord, AFIAA U.S. Investment Inc.

“501 Congress is the ideal location for a Spaces coworking office,” Woodruff said. “This is one of the few creative, non-traditional office buildings available in Austin’s downtown submarket.

Spaces launched in 2008, and operates several locations throughout the United States and Europe. The company is owned by International Workplace Group plc (IWG).

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About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

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