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Spear Street Closes on AMD's Office Campus in Austin

Seller Nets $164 Million in Cash, Inks Leaseback for 865,832 SF
April 1, 2013
Spear Street Capital concluded its purchase of Advanced Micro Devices’ (NYSE: AMD) Lone Star Campus in Austin, TX. The seller generated $164 million or $189 per square foot in the all cash deal.

AMD subsequently inked a 12-year sublease with an affiliate of HPI Real Estate Services and Investments for the 865,832-square-foot complex.

The portfolio includes five office buildings on 59 acres at 7171 Southwest Parkway. The structures delivered in 2006, range in size from two to four stories and consist of 90,912 to 226,935 square feet of office space each. The complex is LEED Gold certified.

AMD is a semiconductor design company based in Sunnyvale, CA. The Austin campus was built to accommodate its design and administrative teams.

Spear Street is an San Francisco-headquartered commercial real estate investment company with a national office portfolio.

Todd Mills and Brian Scott of CBRE were the listing brokers.
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