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JLL, Cousins Link Up on Two Austin Office Transactions
JLL Capital Markets completed two Austin, Texas, transactions with Cousins Properties. JLL arranged the sale of Research Park Plaza V, a 172,854-square-foot office building in Austin’s Northwest submarket, and secured a preferred equity placement for 5th & Walsh, a 198,000-square-foot Class A office and retail development in the West 5th Street corridor.
In the Research Park Plaza V sale, JLL Capital Markets’ Ryan Stevens, Drew Fuller and Jeff Coddington represented Cousins Properties to complete the sale to an unnamed buyer.
Developed in 2015, Research Park Plaza V is a Class A, four-story office asset that is 85% leased to four institutional-quality tenants.
For the 5th and Walsh development, JLL Capital Markets’ Stevens, Robert Wooten and Colby Mueck worked on behalf of Endeavor Real Estate Group (the developer) to arrange a $31.5 million preferred equity commitment through Cousins Properties. It will be Endeavor’s HQ.
5th & Walsh is a five-story, ground-up development totaling 198,000 rentable square feet, comprising approximately 177,000 square feet of Class A office and approximately 21,000 square feet of ground-floor retail.
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- ◦Financing
