Jones Lang LaSalle ("JLL") is please to offer the exclusive opportunity to purchase Park Central (the “Property”), a 114,091 square foot Class A suburban office asset located in North Central Austin, Texas. Located less than a half mile south of the Interstate 35/Parmer Lane intersection, Park Central features exceptional highway visibility and instant access to three of Austin’s major traffic thoroughfares allowing for superior connectivity to workforce and executive housing options as well as North Austin’s deep amenity base including nearly 2 million square feet of retail at Parmer Lane.
With 5.1 years of WALT remaining, Park Central is currently 98.7% leased to a diverse set of creditworthy tenants including Lam Research, Retro Studios (subsidiary of Nintendo), the State of Texas Comptroller, NCS Pearson, Diebold Nixdorf and PCE Paragon Solutions (subsidiary of Foxconn). Additionally, in-place rental rates are approximately 29% below market, presenting an exceptional value enhancement opportunity balanced by a secure income stream and strong remaining lease term in one of the nation’s top performing markets, Austin, Texas.
- Secure Cash Flow with Long-Term Value-Enhancement Opportunity
- Diverse Rent Roll with Investment Grade Tenancy and Term
- Institutional Quality Asset
- Irreplaceable North Austin Address