Austin 3M-SF office portfolio sold for $860M

AUSTIN – Thomas Properties Group Inc. and the California State Teachers’ Retirement System (CalSTRS) acquired full ownership of an eight-building, 3 million-sf portfolio of office properties in downtown and suburban Austin.

The portfolio sale was valued at $859 million or about $286.33 per sf.

In the Austin CBD properties include:

• the 535,078-sf Frost Bank Tower at 401 Congress Ave.;
• the 454,225-sf 300 W. 6th Street;
• the 503,951-sf One American Center at 600 Congress Ave.;
• the 410,248-sf San Jacinto Center at 98 San Jacinto Blvd.; and
• the 518,385-sf One Congress Plaza at 111 Congress Ave.

In Austin’s northwest submarket properties include:

• the 175,529-sf Westech 360 at 8911 Capital of Texas Highway;
• the 203,193-sf Park 22 at 8601 RR 2222; and
• the 139,252-sf Great Hills Plaza at 9600 Great Hills Trail.

Read more at GlobeSt.com.