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City of Austin, Texas, acquires University Park for $26 million

Houston firm sells 20% leased office building
The city of Austin paid $26 million for an Austin, Texas, office building. (CoStar)
The city of Austin paid $26 million for an Austin, Texas, office building. (CoStar)
By Walt Elmore
CoStar Research
June 26, 2025 | 4:13 P.M.

The city of Austin, Texas, purchased the University Park office building for $26 million, or approximately $125 per square foot, from a joint venture between Lionstone Partners and Federated Hermes.

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