Austin Business Journal
Fresh off a successful first quarter as a public company, SailPoint Technologies Holdings Inc. is significantly boosting its Austin footprint with plans to move into a new 165,000-squarefoot building in Northwest Austin next year. Brandywine Realty Trust said the Austin cybersecurity and identity management software company will lease an entire four-story office building in the Four Points Centre, located near the intersection of Ranch Road 2222 and FM 620 in Northwest Austin. Currently the company leases space inside two buildings in Austin: 45,000 square feet at Brandywine’s Four Points Building II and 56,000 square feet at Ladera Bend at 7300 Ranch Road 2222.
SailPoint spokeswoman Anna Lindsey said the software company will vacate those buildings and consolidate into the new, bigger space to accommodate future employee growth. SailPoint hired 124 additional employees last year in Austin, growing its total Austin headcount to 389 people at the end of 2017. Globally, SailPoint now has 806 employees, up
from 741 in June last year.
Lindsey could not say how many employees the company plans to add in the near future, but its new home is on a five-acre lot with access to a parking garage with more than 800 spaces. Contractors started construction on the new building in October, according to Brandywine, and SailPoint is expected to move in the first quarter of 2019. "As a long-time occupant of Four Points, we are committed to its ongoing development as an area for corporate businesses to establish their headquarters,” said Cam McMartin, SailPoint chief financial officer, in a statement. “We are pleased to have partnered with Brandywine to select a home for SailPoint that will serve us well for many years to come.”
Square footage, revenue climb
During the past decade, SailPoint has expanded its footprint from 3,000 square feet in Austin to 165,000 square feet, according to Brandywine. Rick Whiteleyand Ted Doucet from Cushman & Wakefield have represented SailPoint in many of those transactions, including the most recent one with Brandywine. “We couldn’t be prouder to have witnessed SailPoint’s amazing success and are honored to serve them,” Doucet said in a statement.
The lease news comes on the heels of SailPoint’s fourth-quarter and year-end financial results dropping on Feb. 21, when it said it raked in $67.8 million in revenue in the fourth quarter of 2017, beating Wall Street’s expectations. SailPoint held its IPO last November. The Four Points Centre complex currently consists of two three-story office buildings that are fully occupied. The development team for the second phase of Four Points includes Brandywine, White Construction Company, Merriman Anderson Architects, Big Red Dog Engineering and Consulting.
Meanwhile, Brandywine has several projects in the works in Austin — including redeveloping the Broadmoor campus (formerly owned by IBM) as a possible Amazon HQ2 contender; building a 25-story office tower at 405 Colorado Street; and developing the Garza Ranch office complex in Southwest Austin. Last October, Brandywine closed one of the biggest recent Austin commercial real estate sales when it sold 1.1 million square feet to Connecticut-based Starwood Capital Group for $333 million. Even after the sale, Brandywine is a still a formidable owner of office space in the Texas capital with 2.6 million square feet of Class A office space spanning 21 buildings on four campuses.