Equity Commonwealth sells 188-acre campus in Austin
Equity Commonwealth has sold Research Park, a 1.11 million-square-foot office and industrial development as well as 94.8 acres of undeveloped land in northwest Austin, Texas.
The buyer was Parmer Innovation Centers, an affiliate of Los Angeles–-based Karlin Real Estate.
Originally part of a 466-acre tract owned by Texas Instruments, Research Park comprises 1.05 million square feet of manufacturing space that is leased to a subsidiary of Flex, Ltd., the third-largest global electronics manufacturing services company.
Research Park is positioned on 188 acres off US 183 at 12455 and 12515 Research Boulevard in the heart of the Northwest Austin technology triangle, the birthplace of “Silicon Hills.” The area is home to corporate giants such as Apple, Amazon, Facebook, Indeed, Expedia, Visa and Charles Schwab, as well as manufacturing titans like Samsung, National Instruments and Flextronics America. In addition to its strong corporate presence, the triangle ar