Market Blog

Oracle Corporation Plans to Expand Their Already Booming Campus in Southeast Austin

 

Oracle Corporation opened a new campus in Austin this past Spring. It brought many new job opportunities to the city and spanned 560,000 square feet with two buildings. Now, Oracle Corp. is setting the wheels in motion once again with an accelerated plan for expansion. On Aug. 31, Oracle had already received a site plan permit from the city for its second phase, and the expansion is set to see a 420,000 increase in square footage.

Although the site plan has been city approved, the building plans still need to be reviewed by the city before Oracle can get a building permit and start building. Nonetheless, Oracle’s move to Austin and its upcoming expansion plans speaks highly of Austin, and the market here.

“The fact that Oracle can open a big campus then turn around a nearly double its size speaks to a high degree of confidence in the Austin market. That outlook is clearly shared by other major technology companies: Even though construction isn’t complete on the new downtown office tower mostly leased by Facebook Inc., the social media giant has leased all of the planned Doman 12 tower.”

Marissa Luck | Austin Business Journal

Oracle’s campus has already begun transforming East Riverside and the Southeast Austin area, and with its planned expansion Oracle may attract even more young talent and opportunity to Austin. According to the article, company executives believe they will soon employ 3,000 people onsite, and as the company expands this number could increase to 10,000.

[Via Austin Business Journal]

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