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City Of Austin Acquires One And Two Barton Skyway Office Property From Jerry Sweeney For $107.6M

Property Image
SOLD
$107,600,000

Texas

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Office386,000 SF
Sold 11/19/2024
the dealdetailscomps
Property Image
SOLD

City Of Austin Acquires One And Two Barton Skyway Office Property From Jerry Sweeney For $107.6M

1501 South Mopac Expressway

See Similar Deals
Office386,000 SF
Sold 11/19/2024
the dealdetailscomps

Summary

TEXAS
Asset Type:Office
Price Per Square Foot:$278
Total Square Footage:386,000 SF
Transaction Type:Sale

The property asset involved in this transaction consists of 1501 & 1601 South Mopac Expressway in Austin, covering 35 acres. The sale price for the office property was $107,600,000, translating to a price per square foot of $279 for a total square footage of 386,000.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $107,600,000
  • Sale Price per Square Foot: $279
  • Total Square Feet: 386,000
  • Address: 1501 & 1601 South Mopac Expressway
  • Market: Austin
  • Seller: Jerry Sweeney - Brandywine Realty Trust

Brandywine Realty Trust sold One and Two Barton Skyway in Southwest Austin to the City of Austin, which will utilize the property as a consolidated public safety headquarters. Brandywine retains ownership of Four Barton Skyway, which is currently 94% leased.

Details

SOLD
IMAGE: Jerry Sweeney DATE: 11/19/2024 ADDRESS: 1501 & 1601 South Mopac Expressway MARKET: Austin ASSET TYPE: Office ~ ACRES: 35 SELLER: Jerry Sweeney - Brandywine Realty Trust (@BrandywineRealty) SALE PRICE: $107,600,000 SF: 386,000 ~ PPSF: $279 NOTE: Brandywine Realty Trust sold One and Two Barton Skyway in Southwest Austin to the City of Austin for $107.6 million, or $275 per square foot. The 386,000-square-foot property will serve as a consolidated public safety headquarters, while Brandywine retains ownership of Four Barton Skyway, which is 94% leased.

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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