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JLL completes two Austin office transactions with Cousins Properties

The deals include the sale of a 172,854-square-foot, 85% leased office building and a $31.5 million preferred equity placement for a new Class A office and retail development.

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JLL Capital Markets completed two Austin, Texas transactions with Cousins Properties, covering both the sale of an existing office asset and preferred equity financing tied to a ground-up development, according to ConnectCRE.

JLL arranged the sale of Research Park Plaza V, a 172,854-square-foot Class A, four-story office building in Austin’s Northwest submarket, which was developed in 2015 and is 85% leased to four institutional-quality tenants.

For 5th & Walsh, JLL secured a preferred equity placement through Cousins Properties totaling $31.5 million, for a five-story, ground-up project in the West 5th Street corridor.

The 5th & Walsh development will total 198,000 rentable square feet, including about 177,000 square feet of Class A office space and about 21,000 square feet of ground-floor retail, with the planned headquarters for Endeavor Real Estate Group.

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