Skyworks Leases 96497 Square Feet At 3212 E Cesar Chavez St In Austin From CREA
3212 E Cesar Chavez St, Austin, TX, 7...
Building Size
96,497 SF
Asset Type
Office
Closing
Nov 20, 2023
AI
The property involved in this transaction is a recently completed class-A office development named Eastlake at Tillery, located at 3212 E Cesar Chavez St, Austin, TX. The development totals 172,000 square feet and consists of two office buildings along with an above-ground structured parking garage. In this transaction, the semiconductor firm Skyworks has secured a lease for the entirety of building two, amounting to 96,497 square feet.
Summary of transaction details:
- Property Type: Office Lease
- Transaction Amount: Not specified
- Address: 3212 E Cesar Chavez St, Austin, TX
- Market: Austin
- Tenant: Skyworks
- Landlord: CREA
- Tenant's Representative: Jesse Weber - CBRE
- Leasing Agents: Matthew Adams and Jesse Weber - Newmark
- Additional Tenant: Canva (36,932 square feet in building one)
- Additional Tenant's Representatives: Jake Ragusa and Elizabeth Ansbro - JLL
The transaction also reflects the involvement of Ben Tolson and Seth Stuart from AQUILA Commercial, who handle the leasing for the Eastlake at Tillery development. The leases executed in July and October signify a strong market response and active leasing momentum at the property.
Players
Austin Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93