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3212 E Cesar Chavez St, Aus...

Skyworks Leases 96497 Square Feet At 3212 E Cesar Chavez St In Austin From CREA
LEASEDOffice

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

Jesse Weber

CBRE

Broker

$433.7M

vol

9 deals

Broker

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