DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) has closed the sale of Riata Corporate Park (top right photo) and Riata Crossing, (middle left photo) a Class A office complex totaling 1.1 million square feet in Austin, Texas.HFF marketed the property exclusively on behalf of the seller, a partnership between institutional investors advised by JPMorgan Asset Management and Equity Office, and was acquired by Spear Street Capital. Terms of the sale were undisclosed.
The portfolio consists of eight-building Riata Corporate Park, five-building Riata Crossing as well as the last two development sites at the Riata master-planned de
velopment.Completed between 1998 and 2008, the buildings are 98.7% leased to tenants including Apple, Centex, NVIDIA Corporation, Computer Associates, Janus Capital Group and Pervasive Software.
The Riata complex is situated within a 95-acre corporate park adjacent to a city park and lake near Research Boulevard, Parmer Lane, State Highway 45 and The Domain in northwest Austin.
JPMorgan Asset Management is a global asset management leader providing world-class investment solutions to institutions, individuals and financial intermediaries.
The firm is responsible for approximately $1.2 trillion in assets under management (based on assets under mana
gement for the Asset Management division of JPMorgan Chase & Co. as of June 30, 2008), including more than $58.4 billion in real estate managed by JPMorgan Asset Management - Real Estate & Infrastructure.With a 38-year history of successful investing and a staff of approximately 379 professionals, JPMorgan Asset Management - Real
Estate & Infrastructure identifies, analyzes, negotiates, acquires, develops, redevelops, renovates, operates, maintains, finances and sells assets, on behalf of its clients.Spear Street Capital is a real estate investment company dedicated to acquiring and operating select office investment opportunities nationwide.
CONTACTS:
Andrew S. Levy, HFF Senior Managing Director, 214 265 0880, alevy@hfflp.com
Todd W. Savage, HFF Managing Director, 214 265 0880, tsavage@hfflp.com
Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com
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