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7/30/13
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Emerald Austin LLC purchased a 12.9k sf retail building located at 4001 West William Cannon Drive in Austin for $7.43 mil ($576/sf).
The seller, Austin Phila EO LLC, was represented by David Maloy and Robert James of EXP Realty Advisors. The buyer, Emerald Austin LLC was repped by Jon Busse of Colliers International San Diego Region.
“This building represents an attractive investment opportunity for our client. CVS/pharmacy is the single tenant of the building and they have 21 years remaining on a 25-year, triple-net lease. The property was purchased to satisfy a 1031 tax deferred exchange,” said Jon Busse, Senior Vice President of Colliers.
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