Austin-based uShip has been on a solid growth trend lately, typified by today’s announcement that they’re moving downtown. The startup is currently fitting 65 people into it’s 4,500 square foot office space on S. Congress. Their new digs in the McGarragh Jessee building on 2nd and Brazos are going to seem spacious by comparison, measuring 18,628 square feet. The advertising agency will be moving to 6th and Colorado later this year. But don’t get used to having that big office to yourself, because the company is planning on doubling headcount in the next few years, and expanding its service to Netherlands, France, and Spain in the next 12 months.
The unique building was built in 1910 by the Slaughter family, which operated a general store on the premises. It was purchased and renovated in 1999 in preparation for the advertising agency. The statistics say that downtown rental rates average $37 per square foot per year. That would be almost $700,000 per year in rent on a building that the county says is worth $2.5M. Maybe some real estate folks can chime in on how much actual rates become after negotiations, and how much the county underestimates property values.
Congrats to the team at uShip on their continued growth!