Las Cimas
Las Cimas (Spanish: "Summit" or "Top") is an office complex in unincorporated Travis County, Texas, between Austin and West Lake Hills. The buildings, southwest of Downtown Austin, are about 300 yards (270 m) south of the southwest corner of Las Cimas Parkway and Texas State Highway Loop 360 (Capital of Texas Highway). It previously housed the headquarters of Dell and American Campus Communities.
Las Cimas II and III are owned by Spear Street Capital.
Lincoln Property Company developed Las Cimas II and III in 2000 and 2001.
In 2000 Dell announced that it would lease 80,000 square feet (7,400 m2) of space in the Las Cimas office complex to house the company's executive offices and corporate headquarters, which were moving from Round Rock, Texas. 100 senior executives were scheduled to work in the building by the end of 2000. In January 2001 the company leased the space in Las Cimas 2, located along Loop 360. Las Cimas 2 housed Dell's executives, the investment operations, and some corporate functions. Dell also had an option for 138,000 square feet (12,800 m2) of space in Las Cimas 3. After a slowdown in business required reducing employees and production capacity, Dell decided to sublease its offices in two buildings in the Las Cimas office complex. In 2002 Dell announced that it planned to sublease its space to another tenant; the company planned to move its headquarters back to Round Rock once a tenant was secured. By 2003 Dell moved its headquarters back to Round Rock. It leased all of Las Cimas I and II, with a total of 312,000 square feet (29,000 m2), for about a seven-year period after 2003. By that year roughly 100,000 square feet (9,300 m2) of that space was absorbed by new subtenants.
Challenger International Ltd. purchased Las Cimas II and III for $63 million in 2002. Challenger merged with CPH Investment Corp. in 2003, so its name changed to Challenger Financial Services Group Ltd. In 2004 Challenger put Las Cimas II and III (together they have 313,364 square feet (29,112.5 m2) of space) for sale.
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