Investors - NOVEMBER 12, 2015

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Two Austin office assets to sell for $515m

by Andrea Waitrovich

In separate deals, two office properties in Austin are under contract to be sold for an estimated total sales price of $515 million.

Prudential Real Estate Investors will purchase an office in Austin for an estimated sales price of $240 million, according to Real Capital Analytics.

CommonWealth Partner sold the 301 Congress on behalf of the $302 billion California Public Employees’ Retirement System, which acquired the assets as part of a portfolio acquisition in 2011.

The 22-story office building totals 418,338 square feet and includes a 865-space parking garage. Tenants include RetailMeNot, Gerson Lehrman Group and Teza Technologies.

And the office building located at 7700 Parmer in the Mopac North submarket was purchased by Accesso Partners for an estimated $275 million from Spear Street Capital.

The four-building complex totals 950,102 square feet. Major tenants include PayPal, Oracle, Electronic Arts, Google and Polycom. &

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