Lincoln Offloads YETI’s Austin Headquarters
- Mar 02, 2018
Lincoln Property Co. has sold Lantana Ridge, a 168,923-square-foot Class A office property in Austin, Texas, to Ramrock Real Estate.
The two three-story buildings are fully occupied by YETI, a cooler manufacturer, which occupied its space last year in August following approximately 18 months of construction work, according to Yardi Matrix. The seller financed the asset’s development with a $27.1 million construction loan from PlainsCapital Bank.
Located at 7601 Southwest Parkway, the property is situated approximately three miles from the intersection of MoPac Expressway and U.S. Highway 290, allowing for convenient access throughout the greater Austin area. SolarWinds is headquartered one mile to the east, with other office tenants in the immediate area including AMD, Newgistics and Liberty Mutual.
The property features a fitness center with showers, jogging trails, a rooftop terrace and a courtyard with parking areas for food trucks. The structures include a total of 810 surface and subterranean parking spaces, per Yardi Matrix data. The developers designed the property to achieve LEED Silver certification, which is pending approval.
Image via Google Maps