Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.

The office real estate picture in Austin, TX is constantly changing but one company’s loss may be another company’s gain. Meta (NASDAQ:META) is leaving behind its lease in The Domain, a mixed-use neighborhood that includes several office towers.

Meta leased Domain 12, a 15-story glass tower, but as of Jan. 1, 2026, IBM will be taking over 320,000 square feet of office space. The property includes a cafe, outdoor terraces, a fitness center and bike storage. The new lease will extend the lease maturity from 2031 to 2040.

Check It Out:

• This billion-dollar fund has invested in the next big real estate boom, here's how you can join for $10.
  This is a paid advertisement. Carefully consider the investment objectives, risks, charges and expenses of the Fundrise Flagship Fund before investing. This and other information can be found in the Fund's prospectus. Read them carefully before investing.

• Mark Cuban believes “the next wave of revenue generation is around real estate and entertainment” — this new real estate fund allows you to get started with just $100.

IBM has a long history with the area now called the Domain. The original 235-acre IBM research campus was sold in 1999 for $60 million and IBM leased back part of the property. IBM announced that it would be relocating to a new campus by 2027. The company was planning to lease space in OneTerra, a 507,200-square-foot office project being developed by Hines Real Estate. In a statement, IBM said, “IBM remains committed to investing in new experiences for our clients and employees in this market.”

The move is a win for Cousins Properties (NYSE:CUZ), an office REIT that owns the building. Cousins’ Domain portfolio comprises 2.5 million square feet and is currently over 99% leased. “The Domain provides a highly amenitized experience that leading companies recognize as a critical tool to drive employee recruitment, retention and culture. We are thrilled to see growing customer demand for lifestyle office properties in Austin," said Colin Connolly, President and Chief Executive Officer of Cousins Properties.

Keep Reading:

• A billion-dollar investment strategy with minimums as low as $10 — you can become part of the next big real estate boom today.
  This is a paid advertisement. Carefully consider the investment objectives, risks, charges and expenses of the Fundrise Flagship Fund before investing. This and other information can be found in the Fund's prospectus. Read them carefully before investing.

• Commercial real estate has historically outperformed the stock market. This platform allows accredited investors to invest in commercial real estate, invest today for a 1% boost.