Description

Jones Lang LaSalle (“JLL”) is pleased to present the opportunity to acquire a fee simple interest in Park Centre (the "Property"), a three-building Class A office campus totaling 205,096 square feet in Austin’s Northwest submarket. Located along 2222, the Property offers convenient access to nearby retail amenities, as well as proximity to Austin’s most coveted neighborhoods.

Park Centre is 48% leased across all three buildings, with Building III being 100% leased to Microchip Technologies, a global leader in semiconductor manufacturing. Collectively, the three buildings offer investors stable cash flows with significant value-add potential through lease-up of existing vacancies and presents opportunities to sell down the individual buildings to an investor or an owner/user.

Given the Property’s unique location amongst west Austin’s Hill Country, Park Centre represents a rare infill acquisition opportunity where the dramatic topography creates high barriers to entry and limits future supply. Investors can also capitalize on multiple exit strategies, including potential redevelopment, while maintaining a stable income stream from the existing rent roll, at an all-in basis well below replacement cost.

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