Description

Jones Lang LaSalle (“JLL”) is pleased to present the opportunity to acquire the leasehold interest in JLL Plaza (the “Property”), an eight-story, 115,975-square foot Class A office building in Austin’s dominant west urban core micromarket. Located at the intersection of West 5^th Street and MoPac (Loop 1), the Property benefits from instantaneous access to Austin’s premier residential neighborhoods. The Property’s micromarket is exceptionally tight, with a 95% average occupancy rate, average asking rents of $50+ PSF NNN and new construction rents of $65+ PSF NNN. The Property is currently 77% leased to investment-grade tenants with 5.0 years of weighted average lease term, offering investors durable in-place cash flow with the opportunity to drive NOI through lease-up of existing vacancies and pushing tenants to market rents as they roll.

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