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Report: PayPal signs lease at new Domain tower

(Beck Group)

PayPal is the first company to sign a lease at Domain Tower 2, the tallest building at Austin's "second downtown."


Developer Stonelake Capital Partners said the top two floors of the 24-story tower, 1025 Alterra Parkway, would become Paypal’s new home, according to the Austin Business Journal.

The dual floors—a total of 60,000 square feet—will start being customized for PayPal within the next 90 days. PayPal is currently working out of a North Austin office off Parmer Lane.

Stonelake said the 308-foot floor-to-ceiling glass tower will be dedicated solely to office space, a total of 330,000 square feet, and PayPal will represent about 20% of the building’s occupancy.

Domain Tower 2 is the fourth Stonelake building at The Domain’s south end and part of its master development plan, which will total three million square feet of office space, 2,500 multifamily units, 50,000 square feet of restaurants and a hotel.

Stonelake also built the area’s tallest residential structure: The Bowen, a 19-story luxury tower right beside Domain Tower 2.

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