• June 5, 2020

CIM Group Unveils Fifth + Tillery in East Austin – Creative Office Building Featuring Outdoor Walkways and Solar Power - Odessa American: Business

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CIM Group Unveils Fifth + Tillery in East Austin – Creative Office Building Featuring Outdoor Walkways and Solar Power

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Posted: Thursday, May 21, 2020 10:01 am | Updated: 10:15 am, Thu May 21, 2020.

AUSTIN, Texas--(BUSINESS WIRE)--May 21, 2020--

CIM Group announced today that it is preparing to open Fifth + Tillery, a newly constructed three-story, approximately 182,700-square-foot creative office building with outdoor walk-up access located at 618 Tillery Street in East Austin. Situated just off East 7th Street, a main thoroughfare, the property is within a short drive to both Austin’s Central Business District and South Congress submarkets and also has convenient access to mass transit and biking options.

Fifth + Tillery offers the features that appeal to a host of businesses such as technology, service providers, design firms, and others. Particularly given the new environment which is prompting a fresh look at office space usage, each of the building’s three large floors, ranging from approximately 50,000 to 65,000 square feet, provide for flexible configurations. All floors are accessible from outdoor walkways and staircases from the ground level parking, without having to traverse a central lobby or take an elevator. The floors are divisible into various office sizes.

Office suites are infused with natural light from the expansive windows and have outdoor balconies where employees and guests can enjoy the area views while conferring together in a large open space. Adding to the building’s outdoor features is a vast landscaped courtyard with ample areas for separated seating along with theater-style steps up to the building, providing another option for open air distanced gathering.

A steel frame, solar panel canopy spans from the roof across the front courtyard providing approximately 600 kw of energy for the building. This impressive solar component allows the building to be considered net neutral in electric utility usage, a significant feature for tenants mindful of their environmental footprint as well as potential cost-savings in terms of shared building costs. The functional canopy also provides a distinctive architectural element to this bright, modern building.

CIM Group acquired Fifth + Tillery, partially under construction, in October 2019 along with 507 Calles Street and a warehouse/office building located at 1300 E. 5 th Street. Fifth + Tillery is anticipated to be complete in July.

For more than 10 years CIM has been an active owner, operator, and developer of over 2.2 million square feet of properties in Austin, bringing quality real estate uses to enhance the area as it does in other communities across North America. In addition to Fifth + Tillery, CIM’s Austin office portfolio includes Penn Field, Hartland Plaza, Eastside Village, and Chase Tower, 507 Calles and 1300 E. 5 th Street. CIM also owns and operates the District at SoCo apartments and was a co-developer of the Seaholm Power Plant mixed-use redevelopment as well as The Independent luxury condominium tower.

For leasing information regarding Fifth & Tillery please call (512) 814-3403 or visit https://5thandtillery.com/.

About CIM Group

CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. For more information, visit www.cimgroup.com

View source version on businesswire.com:https://www.businesswire.com/news/home/20200521005177/en/

CONTACT: Karen Diehl

Diehl Communications

karen@diehlcommunications.com

(310) 741-9097

KEYWORD: UNITED STATES NORTH AMERICA TEXAS

INDUSTRY KEYWORD: OTHER CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY

SOURCE: CIM Group

Copyright Business Wire 2020.

PUB: 05/21/2020 11:00 AM/DISC: 05/21/2020 11:00 AM

http://www.businesswire.com/news/home/20200521005177/en

© 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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