‘Statesman’ May Sell Lakefront Office Complex in South Austin

The Austin American-Statesman sits on 19 acres of lakefront property in South Austin, but for how much longer?

The Statesman from the Congress St. Bridge

Owner Cox Media Group is apparently open to selling the land after receiving multiple unsolicited offers. The paper itself is not currently for sale, but it’s clear that building is not an efficient use of the space. Occupied by the Statesman since 1980, the drab and boxy building is 300,000 square feet and three stories tall. Located just south of upscale Travis Heights and on Lady Bird Lake, the land has been appraised for $40 million, but possibly much more.

Austin American-Statesman

I presume it’s only a matter of time until a buyer comes forward. I hesitate to speculate further until more information becomes available, but it’s hard not to be excited at the prospect of 19 acres opening up for smart development in what’s essentially downtown.

Advertisements

About Zac Macinnes
#studyabroad champion at @TrinityCollege. Austin native. Connecticut address. Global perspective. #Bikes, #politics, #intled, #transit, day trips & far-flung adventures.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: