The partnership has paid more than $20 million for PromontoryPoint, a six-building complex on Ridgepoint Dr. northeast of Texas290 and Texas 183. Tenants at Promontory Point include AppleComputer Inc., which leases more than 100,000 sf in theproject.

"The Austin market is booming right now due to the growth in thehigh-tech industries and we want to be a part of it," Susan E.Singer, Emerson Partners vice president/sales and leasing toldGlobeSt.com. "We would like to acquire additional office/flex oroffice/tech type of properties in Austin and are activelylooking."

Emerson Partners has another development in progress, ParmerBusiness Park. The 151,000-sf first phase is completed and leasedto Sun Microsystems. A 108,000-sf phase II is under way. "We havethe land for phase III which could end up being a multi-storybuilding as large as 480,000 sf," says Singer.