City Of Austin Acquires Mixed-use Property At 3300 North Interstate 35 For $26 Million

The mixed-use property located at 3300 North Interstate 35 in Austin, Texas, encompasses 206,657 square feet and has a sale price of $26,000,000. The property was purchased by The City of Austin, which intends to utilize it for expanding public safety facilities. At the time of the closing, the property was 20% leased.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $26,000,000
• Sale Price per Square Foot: $126
• Buyer: The City of Austin
• Seller: Bryan Sanchez - Lionstone Investments
• Broker Representatives: Drew Fuller & Ryan Stevens - JLL
• Financing: $26.2M in bond financing

JLL’s Ryan Stevens and Drew Fuller represented Lionstone Investments, the seller of the property, during the transaction. The City of Austin's acquisition is part of a strategic plan to enhance community safety through expanded facilities.