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AUSTIN, TX-KBS Realty Advisors has paid Prudential Insurance Co. $57 million for two business parks here with eight buildings and 632,237 sf of leasable space. The stabilized properties sit adjacent to each other near intersection of Interstate 35 and Ben White Boulevard, south of Downtown.

Situated on 26.8 acres, the two properties are known as SouthTech Business Center and SouthPark Commerce Center. Each are four-building parks that were completed in 2001.

The portfolio is 90% leased to 32 tenants. The largest tenants are Rockford Business Interiors, The Internal Revenue Service, New Era Publishing, Hughes MRO and Capitol Chevrolet.

Jack Fraker, Randy Baird and John Robinson of CB Richard Ellis represented the seller. KBS was represented in-house by acquisitions director Bill Rogalla, Rob Cook, Walter Foster and Ken McKay.

Cook tells GlobeSt.com the available space is spread out in smaller space within the park. Advertised asking lease rates are between $0.50 and $0.75 per sf per month.

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