AUSTIN, TX-A private equity fund has acquired two fully leased buildings totaling 358,000 sf in the Austin Research Park for $78.7 million, or about $219 per sf, according to the seller, a partnership of Atlanta-based Cousins Properties and Los Angeles-based Commonwealth Partners. The properties, known as Building III and Building IV, were completed in 2001. They are leased to two tenants, Charles Schwab Corp. and Fisher-Rosemont Systems Inc. Cousins will continue on as the property manager.”While we’ve been marketing a number of office assets for sale this year, the Austin Research Park buildings were not part of that activity,” said Cousins CEO Tom Bell. “Getting an unsolicited offer for the property was unexpected but we listened and ultimately decided selling was the right move for our shareholders.”This is the fourth office disposition for Cousins this year. In early August, it sold The Pinnacle and Two Live Oak, both in Atlanta, to TIAA-CREF for $200 million. In late July, the Company sold 101 Independence Center, a 20-story, 526,000-square-foot office building in downtown Charlotte, NC, to American Financial Realty Trust for $100 million. In May, Cousins sold 333 John Carlyle and 1900 Duke Street, both in Alexandria, VA, to Grosvenor USA Limited for $80 million.

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