Promontory Point Draws $20 Mil Purchase Price

A partnership led by Dallas-based Emerson Partners Inc. a real estate investment management firm specializing in industrial and land development, has purchased a 235,000-sf office complex in the Walnut Creek area.

The partnership has paid more than $20 million for Promontory Point, a six-building complex on Ridgepoint Dr. northeast of Texas 290 and Texas 183. Tenants at Promontory Point include Apple Computer Inc., which leases more than 100,000 sf in the project.

“The Austin market is booming right now due to the growth in the high-tech industries and we want to be a part of it,” Susan E. Singer, Emerson Partners vice president/sales and leasing told GlobeSt.com. “We would like to acquire additional office/flex or office/tech type of properties in Austin and are actively looking.”