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.
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