804 Las Cimas

Austin, Texas

804 Las Cimas

Overview

804 Las Cimas is an 83,000 square foot building in the prestigious southwest market in Austin, Texas. Moore purchased the asset in 2005 for $13 million, assuming its single tenant would vacate and the building multi-tenanted.

During the 30 day due diligence period, Moore negotiated a renewal with the major tenant.

Upon stabilization, the investors opted to hold the property; however, in 2012 Moore’s institutional partner decided to exit all of its real estate investments. A new investor joined with Moore to continue holding 804 Las Cimas.

During the 2013 transaction with the new investor, Moore again renewed the prime tenant.

The property was 100% leased when sold in July, 2015.

Property Summary

Address:
804 Las Cimas Parkway
Austin, TX 78746

Market:
Austin, TX

Year built:
1998

Rentable area:
85,000 Square Feet

Stories:
3

Average floor plate:
27,905 Square Feet

Parking:
4/1000 Square Feet Parking Ratio