Apple Bites for 4 Buildings Near New Campus

Riata Crossing North, the office complex comprised of four buildings in Northwest Austin, has been sold. The buyer is Apple Inc., already the solely occupant of the entire complex, which it had been leasing before the acquisition. The price or further details of the transaction were not disclosed, reports The Austin American-Statesman.

By Anca Gagiuc, Associate Editor

Apple has acquired Crossing North, a four-building office complex it had been leasing in Northwest Austin. Terms were not disclosed, reports The Austin American-Statesman.

The 354,354-square-foot office complex is located at 12535 Riata Vista Circle, across the street from the $348 million, 1 million-square-foot Americas Operations Center that the technology giant is building.

Riata Holdings L.P., an affiliate of San Francisco-based Spear Street Capital, was the seller of the property, which is valued at $62.5 million, according to Travis Central Appraisal District records.

For locating its new operations center in Austin, Apple is in line for more than $34 million in state, city, and county incentives. According to state records, the company has received a $5.25 million payment from the Texas Enterprise Fund.

Image courtesy of Google Maps.

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