City Of Austin Acquires 143-Acre Campus At 6500 Tracor Lane For $41 Million

The City of Austin purchased a mixed-use property located at 6500 Tracor Lane, which spans 143 acres and encompasses 2.4 million square feet of office, industrial, and storage space. The sale price was $41 million, translating to $17 per square foot. The property is situated in the Austin market.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $41,000,000
• Square Footage: 2,400,000
• Acreage: 143
• Buyer: The City of Austin
• Seller: David Cohen - Karlin Real Estate
• Price per Square Foot: $17

David Cohen, representing Karlin Real Estate, was involved in the sale of the property, which was previously acquired from BAE Systems five years ago. The City of Austin plans to study the future uses for the site following this acquisition.