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Chase Tower Acquisition Checks All the Boxes

The property is located in the central business district surrounded by an abundance of restaurant, retail, entertainment and hotel options, and is a short walk to the hike and bike trail fronting Lady Bird Lake.

Chase Tower Chase Tower is a 21-story 390,000-square-foot class-A office tower with ground-floor retail (credit: Thomas McConnell).

AUSTIN, TX—Tenant demand continues to characterize the Austin market, and investors have followed.  One recent example is CIM Group’s acquisition of Chase Tower, a 21-story approximately 390,000-square-foot class-A office building with ground-floor retail in downtown. The price was undisclosed.

Built in 1974, the tower and adjacent parking structure span a full city block at 221 W. Sixth St. located in the central business district. It is surrounded by restaurant, retail, entertainment and hotel options, and is a short walk to the hike and bike trail fronting Lady Bird Lake. Chase Tower also is easily accessible from Interstate 35 and in walking distance to one of the city’s Capital Metro transportation stations.

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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