Austin Metro Pays $87M for 182K Square Foot Office Building

Austin Metro Pays $87M for 182K Square Foot Office Building

CIM Group has sold Fifth + Tillery, a three-story office building near downtown Austin, Texas to the metro’s public transportation provider for nearly $87 million. The Austin American-Statesman reported the acquisition of this 182,700 square foot property.  The office building features flexible floorplates starting at 10,000 square feet with each floor accessible from outdoor walkways and ground-level parking. Additionally it includes a 600 kW solar array as well as outdoor walk-up access and open air walkways that provide private balconies and approximately 500 parking spaces located at 618 Tillery St in East Austin – more than 3 miles away from downtown area.

CIM Group’s portfolio in the Austin market also consists of properties such as Eastside Village, Chase Tower 507 Calles 1300 E 5th St., 1021 E 7th St., among others; having completed their first adaptive reuse project called Penn Field mid 2020 .

About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax and REVVED Up Accounting. In addition, Steve founded Madison Avenue Technology. With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.

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