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Boston investor acquires one of Austin's newest skyscrapers

 

Austin downtown skyline.

Austin downtown skyline.

The downtown Austin office tower dubbed “5th+Colorado” has sold for a stunning $663 per square foot — a total of nearly $119 million, according to Real Capital Analytics. The buyer was Intercontinental Real Estate, a Boston-based company that owns other office assets in Austin.

The seller was a joint venture of Goldman Sachs and Lincoln Property Co., an avid developer and commercial real estate brokerage in Austin. Michael McDonald of Eastdil Secured handled the deal.

Lincoln Property developed the 18-story 5th+Colorado office tower at 201 W. Fifth St., completing it in 2016 and quickly filling it up with an intriguing mixed of tenants ranging from PlainsCapital Bank to Industrious, the national co-working chain. Job-hunting website Indeed.com’s headquarters is in the building, too.

Click here to read the original article: Boston investor acquires one of Austin’s newest skyscrapers Austin Business Journal 9-6-2017

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