Triple Net Properties has found a buyer for Las Cimas II & III, a pair of office buildings in suburban Austin. The asking price was $92 million, which represents a 7.5% cap rate for the 308,525-square-foot properties. The buildings are 100% leased to Dell on a master lease and Dell has sublease agreements with 26 tenants including St. Jude Medical, American Campus Communities and Xilin. The actual sales price and the buyer could not be learned by press time.

A venture between Lincoln Property and Lend Lease built the four-story offices in 2000 and 2001 on an in-fill office campus about 26 miles southwest of downtown Austin. Las Cimas II & III were being marketed jointly by Grubb & Ellis and CB Richard Ellis. Calls to both brokers and to Triple Net were not immediately returned.

Triple Net is also selling AmberOaks Corporate Center, eight Class A offices in northwest Austin. That 491,354 square foot complex is 93% occupied and has an asking price of $80 million. It is not know if the AmberOaks property has also gone under contract. Trammell Crow and Grubb & Ellis have the listing. Calls to Trammell Crow were not immediately returned.