posted on March 04, 2010 18:32
Two Austin finance firms are expanding their downtown offices, according to Los Angeles-based Thomas Properties Group.
Prime New Ventures LP, a venture capital firm specializing in funding telecommunications companies, renewed its lease and expanded its headquarters on the second floor of the One American Center building. The firm increased the office near 6th Street and Congress Avenue from about 12,000 square feet to 17,000 square feet.
Equity hedge fund manager Rogge Capital Management LP also renewed its lease and grew to 4,800 square feet from 2,900. The company is housed on the 27th floor of the Frost Bank Tower. Founded in 2000, Rogge Capital manages more than $200 million in assets.
”We’ve been in the Frost Bank Tower for four years, and have been pleased with its convenient location in the heart of Austin. Over the last year, our firm has expanded and our space requirements have increased substantially,” Rogge Managing Partner and Founder Chico Korth said.
“We’re extremely pleased that we can continue to call Frost Bank Tower our home for the foreseeable future.”
The expansions demonstrates the city's relatively healthy finance industry despite larger market woes, said Andrew Smith, managing director of leasing for Austin’s Thomas Properties office.
“While occupancy and rental rates have remained relatively stable in Austin’s Central Business District, we’re excited to see our tenants starting to grow again,” Smith said in a statement.
“This is a testament to the hard work of these companies and further affirms the commitment the City, the Greater Austin Chamber, the Downtown Austin Alliance and its members have all taken to keep downtown thriving.”
Austin Business Journal, March 3rd, 2010