A Massachusetts-based real estate investment firm paid $49 million for a 20-story office building in downtown Austin — Capitol Tower at 206 E. Ninth St.
CommonWealth Real Estate Investment Trust, a publicly traded firm, closed on its purchase May 31. The seller was Michigan-based Pomeroy Investment Corp. The building — known to many by its old name Commodore Plaza — is packed with several technology and advertising companies.
Austin continues to offer great opportunity buys for commercial investors. For more information email us.
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