REBusinessOnline

Drawbridge Realty Sells Renovated Corporate Campus in Austin for $18.5M

AUSTIN, TEXAS — San Francisco-based investment firm Drawbridge Realty has sold a fully repositioned corporate office campus located at 3100 Alvin Devane Blvd. in Austin for $18.5 million. Drawbridge originally acquired the two-building property, formerly known as Sierra Technology Center, in 2012 via a joint venture with Austin-based HPI. The redevelopment plan upgraded the office lobby, common areas, roof, mechanical systems and parking areas, as well as interior tenant spaces. Todd Mills, Carrie Caesar and Hunter Mills of Cushman & Wakefield brokered the deal on behalf of Drawbridge. The buyer was not disclosed.

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