May 8, 2017
Multimillion dollar office deals across Austin
AUSTIN – Capital Ridge, an office tower in West Austin, has been acquired by GLL Real Estate Partners, a German-based real estate fund management group.The 217,000-sf property is 100 percent leased by...
AUSTIN – Capital Ridge, an office tower in West Austin, has been acquired by GLL Real Estate Partners, a German-based real estate fund management group.
The 217,000-sf property is 100 percent leased by Apple Inc.
According to national real estate newsletter Real Estate Alert, the acquisition price was $96.1 million equating to $443 per sf, which is a premium compared to other recent sales outlined below.
The property includes a multi-level parking structure with more than 900 spaces.
Here’s a look at five other recent office investment transactions:
- Chase Tower: 221 W. Sixth St.
- $125,675,000—404,713 sf
- $310.53 per sf
- Quarry Oaks I & II: 10900 Stonelake Blvd.
- $87,661,990—292,000 sf
- $300.21 per sf
- 1300 Guadalupe: 1300 Guadalupe St.
- $14,764,802—45,000 sf
- $328.11 per sf
- Oak Creek Plaza: 3107 Oak Creek Dr.
- $13,125,000—50,502 sf
- $259.89 per sf
- Tremont Plaza: 3001 Bee Cave Rd.
- $11,250,000—53,134 sf
- $211.72 per sf
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