Brandywine Sells Off 120K-SF Austin Office Property

Brandywine Realty Trust sold Quarry Lake II, a 120,000-square-foot office property at 4516 Seton Center Parkway in Austin, to Brick Row Holdings. A few weeks ago, Brandywine announced it was placing one million square feet of office properties on the market to test their value. The Austin Business Journal reports that Quarry Lake II was not one of the listed properties.

Brick Row plans to make cosmetic improvements and expand the amenity offering. While Austin is struggling as a market for office occupancy, the nearby Domain area is holding steady at just a 4% vacancy rate.

As far as vacancies at Quarry Lake II go, spaces ranging from 3,000 to 43,000 square feet are available for prospective tenants.

The three properties Brandywine is trying to market include the 225,580-square-foot Four Barton Skyway in Southwest Austin, the 192,396-square-foot Four Points Centre I and II in Northwest Austin and the 590,882-square-foot River Place Corporate Park in Northwest Austin.