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Austin office complex sells for $33M
Austin Business Journal - 2:47 PM CDT Friday
T REIT Inc. and other investors have sold the AmberOaks III building complex to Chase Merritt for $33 million. The deal closed June 15.
AmberOaks III is a 206,770-square-foot, three-building Class A office complex in Northwest Austin. It is part of an eight-building corporate park complex that opened in 2001.
The property is currently 89 percent leased. Major tenants include InfoEdge Technology and URS Corp.
It was originally purchased in January 2004 for $23 million.
Santa Ana, Calif.-based T REIT owned a 75 percent interest in the property. Tenant-in-common investors owned the remaining 25 percent.