Zydeco Development Corp. is selling its two-building MetCenter A&B campus. The 138,000-square-foot office campus is 100% leased. The Austin Business Journal reports the three tenants at the campus are locked in with long-term leases.
The seller is targeting a sale price of $65 million and a 7% initial yield.
Zydeco developed the property. Cushman & Wakefield is marketing the property. MetCenter A&B was built on 14.1 acres at 8000 Metropolis Drive in 2020. Zydeco has been developing MetCenter, which sits on 550 acres, since 1993. It has been selling off pieces of the development over the years.
On its website, Zydeco says it is a privately held commercial real estate development firm founded in 1993. Over the years, the company says it has built millions of square feet, focusing on master-planned business parks and communities.
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