The Canyon, located at 115 Wild Basin Rd., is just north of theBee Cave Road-Loop 360 intersection. Designed by Phillip EwaldArchitects of Houston, the building was completed in 1999. The nametenant on the building is CyberTrader Inc., an Austin-baseddivision of Charles Schwab Corp.

Intercontinental plans to raise the building's lease rates,which it says are below market, to match the market rates in threeor four years. In a prepared statement, the company says thebuilding is typical of those it will seek to buy with its thirdfund--class-A space in markets with strong barriers to entry andwhere properties are undervalued.

Andy Levy and Jeff Stone, both of New York-based Eastdil Realty,represented Miller Global and John Matteson, Intercontinental'sdirector of acquisitions, acted for his company. Yancey-Hausman,based in Houston, manages and leases the property.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.