JLL Capital Markets completed the $26 million sale of University Park, a 206,657-square-foot, mixed-use building in Austin, Texas.
JLL represented the seller, Lionstone Investments, in the sale of the property to the City of Austin.
Located at 3300 N. Interstate Highway 35, University Park is just north of the University of Texas and adjacent to St. David’s Medical Center. The property is close to a variety of restaurants, retail shops and entertainment options at The Triangle, The Drag, Mueller and Manor Rd. In addition, University Park is just 2.5 miles north of downtown Austin and 1.6 miles from the burgeoning Innovation District, Austin’s emerging life sciences hub.
University Park was built in 2008 and offers eight stories of Class A office space with collaborative workplaces and views of downtown and Western Hill Country. The property was approximately 20% leased at the time of closing.
The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Directors Ryan Stevens and Drew Fuller.
