IBM takes over Meta's empty Domain 12 building in North Austin
IBM assumed Meta's lease on the entire 320,000-square-foot Domain 12 building, consolidating its Austin workforce after walking away from a larger planned hub.
AUSTIN — IBM has taken over Meta Platforms' lease on the entire 320,000-square-foot Domain 12 building in North Austin, assuming the commitment effective Jan. 1, 2026 and extending the lease's maturity from 2031 to 2040.
The building, at 11800 Alterra Parkway and owned by Cousins Properties, had been left vacant by Meta. IBM's move follows its termination of a deal for OneTerra, a 507,000-square-foot development once intended as the company's new Austin hub.
Why it matters
The handoff captures the churn reshaping Austin's office market: a social-media giant shedding space it no longer needs, a legacy enterprise vendor stepping in to consolidate at a smaller footprint than it once planned. For The Domain, backfilling a marquee vacancy with a long-term IBM commitment is a stabilizing outcome at a time when tech tenants across the city are recalibrating how much room they actually use.
Reported by Next in Austin. Based on reporting from Austin Business Journal (via Yahoo Finance).
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