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.

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