804 Las Cimas

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.