The city of Austin paid $26.2 million for a 207,000 square foot office building at 330 N. I-35. The Austin Business Journal reports the town bought the building to help address “inadequate facilities and working conditions, support beneficial collaboration and future growth, and improve public access,”
The I-35 office building is roughly 75% vacant and the city will allow the current tenants to stay through their current leases.
The owner of the 3300 N. I-35 office building is listed as LHREV Austin University Park LP.
Last year the city spent $107.6 million to buy the One Barton Skyway and Two Barton Skyway office buildings from Brandywine Realty Trust. These buildings have about 386,000 combined square feet and will be used to house much of the city’s public safety agencies.
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