National Veterinary Associates Secures New HQ at The Bouldin

Deal News | Dec 05, 2024 | Endeavor Real Estate Group Ltd

National Veterinary Associates Secures New HQ at The Bouldin

National Veterinary Associates (NVA), the operator of a vast network of veterinary hospitals with 1,300 locations, has signed a significant lease at The Bouldin, a new mixed-use development on South Lamar Boulevard in Austin. NVA committed to a 39,000-square-foot lease, occupying the top floor of one of the two buildings central to The Bouldin project, developed by Seamless Capital. This move represents a strategic relocation of NVA's headquarters, which recently shifted to Austin from El Segundo two years prior. The lease contributes to The Bouldin achieving 75% occupancy of its office space, with 39,000 square feet still available. Endeavor Real Estate Group, handling leasing for The Bouldin, highlights the draw of the vibrant South Lamar corridor for office tenants. Meanwhile, the office leasing landscape in Austin is seeing an uptick, with reported transactions from companies including PayPal Inc., Wise PLC, and several law firms amidst a high vacancy rate of 24.3% in the metro area. The Bouldin development, which also features residential units and diverse retail offerings, reflects strategic shifts in office planning, adapting to market changes with inclusions like a future Life Time Group Holdings club.

Sectors

  • Real Estate Development
  • Veterinary Services
  • Commercial Leasing

Geography

  • United States - Austin, Texas – The article centers on developments in Austin, Texas, specifically regarding The Bouldin development on South Lamar Boulevard.

Industry

  • Real Estate Development – The article discusses The Bouldin, a real estate development project, highlighting its leasing activities and market position.
  • Veterinary Services – The focus on National Veterinary Associates, a major veterinary hospital network leasing office space, underscores its relevance to this industry.
  • Commercial Leasing – Involves discussions around the leasing of office spaces at The Bouldin and the general office market in Austin.

Financials

  • 39,000 square feet – The size of the office space leased by National Veterinary Associates at The Bouldin.
  • 24.3% – Vacancy rate for office space in Austin metro area as reported by CBRE.

Participants

NameRoleTypeDescription
National Veterinary Associates (NVA)TenantCompanyA network of 1,300 veterinary hospital locations leasing office space for its headquarters.
Seamless CapitalDeveloperCompanyDeveloper of The Bouldin, a mixed-use development in Austin.
Endeavor Real Estate GroupLeasing AgentCompanyResponsible for the leasing of office spaces at The Bouldin.
Cushman & WakefieldRepresentativeCompanyRepresented NVA in the leasing transaction.
Life Time Group Holdings Inc.TenantCompanyHas leased space in The Bouldin for an athletic country club.
CBREResearchCompanyProvided market data regarding office space vacancies in Austin.