ACC starts bidding process to determine fate of Pinnacle building

 

The Austin Community College District (ACC) is now accepting bids for its Pinnacle Campus building and the nine acres it sits on in Southwest Austin. The remaining 46 acres are not for sale because the college wants the option to build on this land in the future.

“Pinnacle Campus has served the district well over the years, but it’s time to take a closer look at how we might improve the campus experience for our students in the southwest region,” says Dr. Richard Rhodes, President/CEO of ACC. “This is the first step in a process that includes working with the Southwest Austin community to help us develop a learning environment for the future.”

ACC hired the Austin office of commercial real estate firm CBRE to broker the sale. The site is suited for multiple uses, including office, multifamily, and general commercial. 

“ACC has entrusted CBRE to bring this opportunity to market and expose it to the broadest pool of potential buyers/investors to ensure taxpayers receive maximum value for these assets,” says W. Gaines Bagby, First Vice President with CBRE.

The college is seeking offers by July 1, 2019 from qualified parties.   

Once bids are received, the college will evaluate its options and make a decision to accept a bid or develop a different long-term plan for the use of the building and the entire property. ACC will consider the dollar amount as well as the intended use of the building and how it aligns with the college’s mission. The process is expected to take close to a year. Revenue from the potential sale would be reinvested into the southwest region including the possible development of a new ACC campus on the property.

For more information, visit austincc.edu/pinnaclenextsteps.

 

 

 

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