The Texas Real Estate Research Center has issued the following press release:
AUSTIN – Kilroy Realty Corp. has purchased a 2.9 acres at 10615 Burnet Road in the Domain submarket for $40 million.
The seller, Capella Capital Partners, had planned a 493,000-sf office high-rise called Arena Tower on the site.
Kilroy will continue with plans to build the 19-story tower, which it will rebrand.
Designed by Page Southerland Page Inc., the project will include nine floors of office space and 12 floors of parking, three of which will be below grade.
The tower will have a 4,000-sf outdoor sky terrace on the 11th floor and ground-floor retail.
Groundbreaking is set for the first half of the year.
Aquila Commercial LLC brokered the sale.