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AUSTIN-An Austin-based company that builds student housing on college campuses has found a new home for itself and provided some cash flow for Dell Computer Corp. American Campus Communities Inc. has taken a 25,000-sf sublease at Las Cimas III in the southwest submarket.

American Campus exits a smaller space at Austin Centre, positioned in the CBD at 701 N. Brazos. At Las Cimas III, a 160,000-sf building, the company gets brand new space in an 8 1/2-year sublease.

Chad Marsh of Endeavor Real Estate Group negotiated the terms on behalf of Dell. Cole Clarkson of the Austin office of Trammell Crow Co. represented American Campus.Dell moved to sublease the building earlier this year after deciding it couldn’t fill it with its own operations. It also plans to move corporate offices out of Las Cimas II when sublease tenants are found for that building.

American Campus, founded in 1993, provides student housing services to colleges and universities. It designs, develops, finances, builds and manages student housing on-campus and off. It has developed or acquired 34 student communities with more than 21,000 beds.

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