REIT acquires huge office development in Southwest AustinREIT acquires huge office development in Southwest Austinhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=41062014-05-28T12:42:00Z2014-05-28T11:00:00Z

AUSTIN - The land and development rights have been sold for Encino Trace, a 320,000-sf office complex under construction on Southwest Pkwy. Brandywine Realty Trust (REIT) purchased the 54-acre development for $14 million from Koontz McCombs.

The first building in the complex, which is 159,000 sf, has been 75 percent preleased. That building will be completed in second quarter 2015 at a cost of $43.6 million. There is no timeline for the second building. About 1,375 parking spaces are included in the plan.

Austin Business Journal
Austin-Round Rock
http://www.bizjournals.com/austin/blog/real-estate/2014/05/national-reit-acquires-huge-office-development-in.htmlRead more at {Source}

 Search NewsTalk Texas