Posted Apr 8, 2019, 5:49 PM
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Registered User
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Join Date: Sep 2015
Location: Austin, TX
Posts: 3,601
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Interestingly:
Chase Tower in downtown Austin to hit market
https://www.statesman.com/news/20190...-to-hit-market
Quote:
The 21-story Chase Tower in downtown Austin will go on the sales block starting next week.
The building, which has been renovated since the current owners acquired it in 2017, is on a full city block at 221 W. Sixth St. The tower is 90 percent leased, with tenants including WeWork, Facebook and Procore Technologies.
The tower was completed in 1974 and has about 390,000 square feet of space.
“We are hitting the market next week,” said Mike McDonald, vice chairman in Cushman & Wakefield’s Dallas office, which is taking the lead in marketing the building.
McDonald said the building could command a price of $240 million, or about $625 per square foot. At $240 million, the sale price would be $65 million more than the $175 million ($449 per square foot) that Goldman Sachs Asset Management and Lincoln Property Co. paid in early 2017.
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