AUSTIN, TX—Clarion Partners, LLC, a leading real estate investment manager, has purchased Las Cimas IV, an institutional quality office building constructed in 2008 in the Southwest submarket of Austin.

The five-story, 138,008 square foot building is 93.5% occupied, with a diversified tenant base that includes firms in the legal, technology, professional and financial services sectors. The property is easily accessed from several major expressways and is close to Austin's most desirable residential areas and the city's central business district.

“Our research has identified Austin as a rapidly growing metro area with a strong office market and healthy high-tech sector,” said Brian Watkins, a managing director and acquisitions team leader at Clarion Partners. “We believe that Las Cimas IV's location in the desirable Southwest submarket and its proximity to executive housing and the amenities of the area position the property for success.”