PHILADELPHIA, PA — Brandywine Realty Trust (NYSE: BDN) has finalized the sale of One and Two Barton Skyway in Southwest Austin to the City of Austin for $107.6 million. The facilities, which total 386,000 square feet and are located at 1501 and 1601 South MoPac Expressway, will now serve as the city’s consolidated public safety headquarters.
“This transaction is consistent with our capital recycling and portfolio management objectives. This sale both strengthens our balance sheet and positions us to seize high-quality, strategic investment opportunities,” stated Jerry Sweeney, President & CEO of Brandywine Realty Trust. The sale price averages $275 per square foot, reflecting the property’s strategic value and prime location.
The Barton Skyway office park spans 35 acres and includes four office buildings. While Brandywine Realty Trust has sold the first two, it retains ownership of Four Barton Skyway, which boasts a current occupancy rate of 94%.
Sweeney emphasized Brandywine’s ongoing commitment to Austin, highlighting their development projects such as 405 Colorado and Uptown ATX. Uptown ATX, a 66-acre master-planned development, is set to become a pivotal part of Austin’s expanding second downtown.
The sale aligns with Brandywine’s broader strategy to optimize its portfolio and invest in high-caliber projects that promise substantial returns, ensuring the company remains a formidable player in the real estate landscape.
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