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|Call for Offers||2022-03-10|
Jones Lang LaSalle (“JLL”) has been exclusively retained to offer qualified investors the opportunity to purchase Las Cimas II & III (the Property), a two-building, 315,488 square foot, trophy office development in the premier Las Cimas office complex in the hills of southwest Austin, Texas. Located at the intersection of Capital of Texas Highway (Loop 360) and Bee Caves Road (RM 2244), the Property is surrounded by the city’s most affluent residential neighborhoods with superior access to major highways. Currently 79% leased to a diverse tenant roster which includes companies such as Epicor, Tesla, PeopleAdmin and Aeglea, the Property offers excellent value creation through the lease-up of remaining vacancy and rolling the existing tenancy to market upon expiration, which is 14% below market at a Property that has seen 6.4% average annual rental rate growth since 2013. Las Cimas II & III is a premier office offering representing an exceptional value-enhancement opportunity in the strongest suburban submarket of the most robust market in the United States.
Premier Office Opportunity with Value Enhancement
In-Place Rents 14% Below Market / 6.4% Avg. Annual Rent Growth at Property Since 2013
Trophy Office Asset
Institutional Quality / Timeless Architecture / Above Market Parking Ratio
Highly Amenitized Location
Adjacent H-E-B Anchored Village at Westlake / Best-In-Class On Site Amenities
Southwest Office Market
Austin’s Premier Suburban Submarket / 62% Rent Growth Since 2011
Home Values Ranging From $800K to $8M in a 1-Mile Radius
Austin #2 City For Real Estate Investment
Source: ULI/PwC (2021)