The Carvajal Group Blog

One of Nation’s Largest Real Estate Buys is in Austin

August 21st, 2008

San Francisco-based real estate company Spear recently announced their decision to buy Riata, a local office park, from Equity Office, a subsidiary of the Blackstone Group, and JP Morgan. The property covers 1.1 million square feet. The price these companies agreed on has not been officially released yet, but it is estimated to be at least $215 million. In terms of both money and square feet exchanged, this is one of the largest real estate sales that our nation has seen since 2007.

A representative from Spear explained that Riata is attractive for the successful and quickly growing businesses that inhabit it, including Apple and Nvidia Corp. The city of Austin is growing every year as local companies take off and news of the city’s many attractions spreads throughout the country.

To learn more about Austin homes available for sale, get started on your Austin home search by calling the Carvajal group at 512.419.7770.

Tags: Austin businesses · Austin Home Search · Austin Real Estate · Austin Real Estate Agent · Austin real estate sale