JLL Capital Markets led the sales efforts for University Park, a mixed-use property totaling 206,657 square feet
News release
14 May 2025
Central Austin office property sold to The City of Austin for $26M
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AUSTIN, May 14, 2025 – JLL Capital Markets announced today that it has completed the $26 million sale of University Park, a 206,657-square-foot, mixed-use building in Austin, Texas.
JLL represented the seller, Lionstone Investments, in the sale of the property to the City of Austin.
Located at 3300 N. Interstate Highway 35, University Park is just north of the University of Texas and adjacent to St. David’s Medical Center. The property is close to a variety of restaurants, retail shops and entertainment options at The Triangle, The Drag, Mueller and Manor Rd. In addition, University Park is just 2.5 miles north of downtown Austin and 1.6 miles from the burgeoning Innovation District, Austin’s emerging life sciences hub.
University Park was built in 2008 and offers eight stories of Class A office space with collaborative workplaces and views of downtown and Western Hill Country. The property was approximately 20% leased at the time of closing.
The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Directors Ryan Stevens and Drew Fuller.
“We were honored to have played a role in the sale of the property to the City of Austin, who was able to buy at an attractive basis and will utilize the space in an owner/user capacity,” said Stevens.
JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.