JLL Brokers Sale of 172,854 SF Office Building in Northwest Austin

JLL recently facilitated the sale of Research Park Plaza V, a substantial 172,854-square-foot office building located in the thriving northwest sector of Austin, Texas. Completed in 2015, this four-story property was 85 percent occupied at the time of the transaction, featuring a roster of institutional-quality tenants. Notable occupants include Cadence Design Systems, a key player in the semiconductor industry, and Planview, a global software company, contributing to the building's strong tenant profile.

The brokerage team from JLL, including Ryan Stevens, Drew Fuller, and Jeff Coddington, successfully represented the seller, Atlanta-based REIT Cousins Properties. While the specific buyer and the final sales price were not disclosed, this transaction underscores continued investor interest in well-leased, modern office assets within strategic growth markets like Austin. For developers, investors, and lenders, such significant deals indicate ongoing liquidity and confidence in the region's commercial real estate landscape, particularly for properties with strong tenant profiles and modern construction. This sale highlights the enduring appeal of Austin's office market for institutional capital.