Insignia/ESG Closes Up Austin Shop

Insignia/ESG, one of the largest providers of commercial real estate services in the United States, will be shutting down its Austin office to focus its Texas efforts in Houston and Dallas. The company handles primary leasing for 24 buildings in the Austin area, with almost 2.7 million square feet of rentable area. It currently has 961,253 square feet available for lease and sublease, and 150,000 square feet under construction at Riata Gateway due to deliver this June. Listings include Stonebridge Plaza I, Capitol Center, 9500 Arboretum Blvd., and 8303 Mopac Expy, all pictured at left. There is significant speculation in the Austin market as to who will take over the company's portfolio. CB Richard Ellis could be one of the candidates, considering Bart Matheney just joined the firm after 14 years with Insignia/ESG. For the time being, Insignia/ESG is trying to ensure that the transition process is as smooth as possible for its clients.