Third + Shoal, Austin

June 18, 2019 Comments Off on Credit Suisse Ends Up with Third + Shoal Views: 193 Austin, Texas News

Credit Suisse Ends Up with Third + Shoal

Less than four months after putting the 345,000-square-foot Third + Shoal office building in Austin on the market, partners TIER REIT Inc. and Cielo Property Group closed on the under-construction, 100%-occupied office building in Austin’s CBD. Credit Suisse Asset Management Ltd. is the buyer; HFF brokered the transaction.

The sales price of the 29-story tower was not disclosed. However, the property at 208 Nueces St. was expected to trade for in excess of $600-per-square-foot, according to previous media reports.

“We believe the sale represents a new precedent of demand for top quality office properties in Austin,” said Scott Fordham, Chief Executive Officer of TIER REIT, in a statement.

Third + Shoal tenants include Facebook, Bank of America Corp., Dickinson Wright PLLC and Stonepeak Infrastructure Partners.

Read more at Businesswire

Read more at Austin Business Journal


Get CRE News in 150 words

For comments, questions or concerns, please contact Amy Sorter

Tags: ,

Comments are closed.

Send this to a friend