The 99%-leased office structure was completed last March byTransworld Properties, which has just broken ground on a 200,000-sfsister building in the heart of Austin's Golden Triangle in theNorthwest submarket, where Texas 183, MoPac Expressway and theCapitol of Texas Highway intersect. The building's lead tenant isGlobest Inc., with 53% of the space. Other tenants includeMicrosoft Corp., DPR Construction, Admiral Insurance and The ChubbGroup.

"Austin is widely considered one of the top growth markets inthe country," Ted Leary, president of Lowe Enterprises InvestmentManagement, says of yesterday's announced sale.The nine-storystructure, located at 9606 N. MoPac Expressway, is a contemporaryglass and TX limestone design of House Reh Burwell Architects ofAustin. The building is complemented by a six-level parkinggarage.

A Lowe's spokeswoman told GlobeSt.com this marks this year'sfirst culminated deal in Texas for the investment firm, whichmanages more than $3 billion in real estate assets for a number ofmajor pension fund clients. In the past 28 years, Lowe's hasacquired, managed or developed more than $6 billion of real estateassets nationwide. The premier Stonebridge's sale has been handledby Lowe Colorado executive vice presidents.