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n a significant development, IBM is investing $20 million to revamp its 47,000-square-foot lab space at Parmer Austin. The tech giant's new digs will be part of the sprawling 297-acre campus, master-planned by Karlin Real Estate as a hub for innovation and technology.

    The renovation, expected to start in January next year, is a result of IBM's decision to downsize its office footprint in Austin. This move comes on the heels of the company's plans to relocate to a new Hines development at the Domain in 2027, where it will occupy 320,000 square feet of space.

    Meanwhile, Google is finally set to move into the downtown Sail Tower by year-end, ending a two-year wait since its delivery. The tech giant had signed the lease in 2019 for the entire 35-story, 804,000-square-foot building, which traded hands last December for $521.8 million.