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Austin: Four Points Centre under $51M contractAustin: Four Points Centre under $51M contracthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=62502013-09-25T10:55:00Z2013-09-24T00:00:00Z

AUSTIN - Four Points Centre and an adjacent 19-acre parcel in Austin will soon be purchased by Brandywine Realty Trust in a purchase agreement with Parkway Properties Inc. The Four Points Centre and parcel purchase price is $51 million.

Four Points Centre is valued at $42 million, or $217 per sf, and is comprised of two three-story buildings located in Austin's Northwest submarket and totals 193,862 sf. The two buildings were built in 2008 and are currently 100 percent leased.

The adjacent 19-acre parcel is valued at $9 million and is entitled to build up to 480,000 sf of office space.

Brandywine Realty Trust has entered into an agreement with Parkway Properties Inc. to buy the property. The sale is subject to the completion of a merger between Parkway and Thomas Properties Group Inc.

Read more at CoStar Group and the U.S. Securities and Exchange Commission.

For more on the Parkway and Thomas merger, check out Parkway to buy Texas office buildings in $1.2B deal.

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http://www.sec.gov/archives/edgar/data/1060386/000079081613000110/exhibit991-oneandtwocommer.htmRead more at {Source}

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