Thomas Properties Group announced today that it sold 3 Northwest Austin commercial office buildings:
- 8911 N Capital of Texas Hwy – Westech 360
- 8601 Ranch Road 2222 – Park Centre
- 9600 Great Hills Trail – Great Hills Plaza
Combined the total square footage sold was 517,974 sf for $76 Million. All of them are Class A/B commercial properties that are currently quoting $17 + NNN ($10-$12 sf).
The selling of these office buildings was part of TPGI’s long term plan of concentrating on their premier class A properties in Downtown Austin and cashing out on properties that have achieved their maximum portfolio value so they can reinvest into office buldings that generate cash flow.