AUSTIN | IBC Bank Plaza | 186 FEET | 13 FLOORS | SITE PREP

[KevinFromTexas]

http://www.statesman.com/business/re...e-2407005.html

Planned 13-story downtown office tower to house IBC Bank's Austin headquarters

By Shonda Novak
AMERICAN-STATESMAN STAFF
Published: 9:17 p.m. Friday, June 29, 2012

Endeavor Real Estate Group unveiled the first public look Friday at a 13-story office tower downtown that it plans to develop for IBC Bank's new Austin headquarters, and an Endeavor official said the project could break ground in December.

The project, to be known as IBC Bank Plaza, is planned for 500 W. Fifth St., near Republic Square and the downtown post office. The development would include 195,000 square feet of office space, with IBC occupying about 19,000 square feet, including the bank lobby and a drive-through on the ground level, Endeavor and IBC officials said.

IBC Bank is financing the project, the cost of which IBC and Endeavor are not disclosing.

The project is expected to be completed in May 2014. About 165,000 square feet of office space on the upper floors and 11,000 square feet of street-level retail and restaurant space are available for lease, said Jamil Alam, a managing principal with Endeavor. Endeavor and IBC said they already have interest from tenants wanting to pre-lease office space in the building.

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