TIER REIT with global real estate investment manager Invesco Real Estate and Austin-based Cielo Property Group, announced that it has completed the sale of Third + Shoal, a newly-developed, 100% leased, Class AA office tower in Austin’s CBD.
The 29-story, 345,000 SF Class AA office building is located in the center of Austin’s “New Downtown” district, surrounded by restaurants, entertainment and residences.
“We believe the sale represents a new precedent of demand for top quality office properties in Austin,” stated Scott Fordham, Chief Executive Officer of TIER REIT.
“We are proud of the mark we have left on the Austin skyline and pleased with the strong value creation we delivered to our stockholders,” he added.
The sellers were represented in the transaction by HFF.
View the full release here:https://www.businesswire.com/news/home/20190611005893/en/