One way to determine a property’s value is to put it up for sale. Brandywine Realty Trust is testing the theory by putting up three office buildings for sale in the Austin area. The portfolio’s total square footage is over one million square feet. The Austin Business Journal reports that the move does mean the company is desperate to sell them. A company spokesman did say, though, if the offers were solid, they’d take them.
JLL is marketing the three properties. Ryan Stevens, Mike McDonald and Drew Fuller are heading up the effort. The properties are as follows:
Four Barton Skyway, a 225,580-square-foot building on six acres at 1301 S. MoPac Expressway, was built in 2001 and is 72% occupied.
The second property for sale is Four Points Centre I and II, a 192,396-square-foot office park at Northwest Austin’s 11305 Four Points Drive. The roughly seven-acre property, built in 2008, is 19% leased.
The final property being marketed is the largest, roughly 48 acres and 590,882 square feet. Located at 6500 River Place Blvd. it’s 42% leased.
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