Acquisitions

AUSTIN, TEXAS — JLL has negotiated the sale of Research Park Plaza V, a 172,854-square-foot office building in northwest Austin. Completed in 2015, the four-story building was 85 percent leased at the time of sale to “institutional-quality” tenants such as Cadence Design Systems, which serves the semiconductor industry, and Planview, a global software company. Ryan Stevens, Drew Fuller and Jeff Coddington of JLL represented the seller, Atlanta-based REIT Cousins Properties (NYSE: CUZ), in the transaction. The buyer and sales price were not disclosed.

HOUSTON — JLL has brokered the sale of Park Towers, a 552,550-square-foot office complex in Houston’s Galleria district. Park Towers comprises two 18-story buildings that were built in 1972 and renovated between 2016 and 2022. Amenities include a fitness center, tenant lounge with a game room, conference facilities, executive boardroom and a full-service deli. Rick Goings, Kevin McConn and Jonathan Napper of JLL represented the seller, Regent Properties, in the transaction. Susan Hill, also with JLL, led the team that arranged acquisition financing for the deal through Morgan Stanley on behalf of the buyer, Interra Capital Group. Park Towers was 89.5 percent leased at the time of the loan closing to tenants such as tax firm Ryan and Huntington Bank. The new ownership has tapped Transwestern to lease the property.