11/20/2007

CBRE Investors acquires Austin office park

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Los Angeles, Calif.-based CB Richard Ellis Investors has acquired the Amber Oaks Office Park in Austin, Texas from a joint venture between Chase Merritt and Buchanan Street Partners for an undisclosed price.

The Amber Oaks consists of five single-story and five, two-story buildings that have a combined square footage of 639,923 square feet. The buildings are located at 13620-13640 Briarwick Drive and 9300-9601 Amberglen Blvd. Two of the buildings were built in September 2007 and the rest were developed by Transwestern between 1999 and 2001. The park has a combined occupancy rate of 70 percent. The major tenants of the property are a San Francisco-based global engineering design firm and a San Jose-based network equipment manufacturer.

No brokerage information for the transaction was available.

Address: 13620-13640 Briarwick Dr. and 9300-9601 Amberglen Blvd., Austin, Texas

Size: 639,923 square feet

Built: 1999-2001, 2007

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Filed Under: Office

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