March 21, 2019
Following a more than two-year hold and considerable capital investment, partners Goldman Sachs Asset Management and Lincoln Property Co. are putting the 389,503-square-foot Chase Tower on the sales block. The 21-story building at 221 W. Sixth St. in Austin could attract upwards of $235 million-$240 million, according to local sources.
Goldman Sachs and Lincoln Property acquired the property from Spire Realty for approximately $185 million in January 2017. During their hold, the partners invested in a new lobby and courtyard, new chiller system, staircase improvements and new roofing. Mike McDonald with Cushman & Wakefield is leading the team in marketing the building.
The tower delivered in 1974, and is 90% occupied. Tenants include WeWork, Facebook and Procore Technologies.
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