AUSTIN, Texas, Jan. 9, 2024 /PRNewswire/ — Today, Karlin Real Estate announced the signing of a lease on 50,000 square feet at Parmer Impact Labs, located at 13011 McCallen Pass. IBM will work with Karlin to develop the space into a state-of-the-art development lab.

“This announcement builds on the momentum that started in September when The University of Texas at Austin announced it would locate its first off-campus wet lab site at Parmer Impact Labs,” Matt Schwab, co-founder of Karlin Real Estate, said. “The addition of IBM is proving out our vision for Parmer as an innovation hub for groundbreaking research and development that will attract start up and blue-chip companies, alike.”

Parmer Impact Labs Austin provides laboratory and office space, giving clients the rare opportunity to lease institutional quality space within one of the most coveted, rapidly growing regions in the country. This will accelerate innovation through a concentration of businesses, research institutions, incubators and accelerators in a vibrant, mixed-use environment.

Parmer is also home to Major League Soccer’s Austin FC Training Facility, called the St. David’s Performance Center, as well as The Pitch and Parmer Field, an indoor/outdoor sports and hospitality venue.

“We are pleased to be a part of the Parmer innovation hub as we invest in new modern spaces for employees in Austin, which is an extraordinary, growing center for talent innovation,” Dexter Henderson, Austin Senior Location Executive, IBM, said. “This new technical space will allow IBM to upgrade our Austin lab facilities to meet the needs of future development, continuing what our company has done since its founding, working with creators, partners and clients to put technology to work in the real world.”

IBM’s Austin team focuses on all aspects of the company’s technology and consulting business in hybrid cloud and AI software, infrastructure, services, design and marketing. The space at Parmer Impact Labs will allow IBM to continue its 55-year innovation journey in Austin and help IBM capitalize on its talented workforce and the growing opportunity that AI and Hybrid Cloud technologies present.

About Karlin Real Estate 
Karlin Real Estate is a global real estate investment firm.

To build for a better tomorrow, Karlin is investing in innovation science real estate to push the boundaries of what’s possible in life science, research and development, engineering, technology, ag-tech and beyond. Karlin empowers those at the forefront of innovation science to challenge the status quo by developing spaces that embolden the bold and defy limitations. In Austin, in addition to Parmer, Karlin’s portfolio includes a number of assets, including Highpoint 2222, which is also tailored for the life sciences industry.

Since 2009 Karlin has acquired and financed over $6 billion of transactions representing more than 15 million square feet across the US and Europe. Karlin Real Estate is an affiliate of Karlin Asset Management, a private investment firm headquartered in Los Angeles with offices in Austin, Raleigh and London.

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SOURCE Karlin Real Estate