AUSTIN - Gladstone Commercial Corporation has purchased a 320,597-sf office building in the technology corridor of Austin at 717 E. Parmer Ln. The price was $57.5 million, according to the SEC.
The property is a multistory office building that serves as one of four national Innovation Centers for General Motors Company. The seller was Los Angeles-based Karlin Real Estate.
The appeal of the deal is that General Motors Co. leased the entire building for its IT Innovation Center last year within weeks of Karlin buying the empty building from Dell Inc.
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