CIM Group and Seaholm Power LLC reached an agreement with Under Armour, Inc. to lease approximately 35,000 square feet of the low-rise building currently under construction at the Seaholm Power Plant project, located on the southwestern edge of downtown Austin.
The statement noted that Under Armour is building the world’s largest digital fitness community by providing interactive tools to make fitness social, simple and rewarding. Its flagship consumer brands under its wholly owned subsidiary, MapMyFitness, Inc. include MapMyRun®, MapMyRide® and MapMyWalk®, which have continued to be among the most popular apps on iOS and Android since their launch in 2007. To account for the rapid growth of its team, MapMyFitness, based in Austin, is expanding its operations to the iconic Seaholm Power Plant project.
The centerpiece of the Seaholm Power Plant project, located on the waterfront in downtown Austin, is the historic 1950 art deco power plant, which is currently undergoing a top-to-bottom redevelopment that is expected to be completed this year. It will be comprised of 11,000 square feet of ground floor restaurant space, 3,500 square feet of public space and a coffee shop, as well as four floors of open, creative office space designed to meet the needs of the its major tenant, athenahealth.
The five acres surrounding the power plant are being transformed into a mixed-use urban oasis featuring 1.5 acres of public open space and a plaza; a 30-story residential tower, Seaholm Residences, with 280 condominiums; and a two-story, approximately 68,000-square-foot contemporary glass and steel building with 35,000 square feet of office space for Under Armour’s wholly-owned subsidiary, MapMyFitness, and 33,000 square feet of retail space, which includes a Trader Joe’s market.
Construction began on the Seaholm Power Plant project in April 2013, with all Seaholm Residences fully-reserved by November 2013 and anticipated to be available for occupancy in the second quarter of 2015. The low-rise office and retail building is expected to be completed by the end of 2014.
The Seaholm Power Plant redevelopment site is located on the southwestern edge of downtown Austin, bounded by Cesar Chavez Street, West Avenue, 3rd Street, Seaholm Drive and the A&NW rail line.
