Regal Properties to Sell $30,000,000 Office Building in Austin

The tenant in common owners of the physically and economically distressed property commonly known as Met 15, located at 7301 Metro Center Drive, in Austin, Texas, have hired Regal Properties to sell the property for approximately $30 million.  The property consists of a 257,600 square foot office building leased by two credit-worthy tenants, Progressive Insurance (84.32%) and Waste Management (15.68%).  A letter of intent for the purchase and sale of the property has already been executed by a prospective buyer and the property owners.