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Silicon Labs buys downtown location for $94M

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TWC News: Silicon Labs buys downtown location for $94M
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Silicon Laboratories Inc. has been a staple in downtown Austin for years, but now the company has put down some permanent roots.

Austin Business Journal Editor Colin Pope said Silicon Labs bought the two buildings that flank city hall on West Cesar Chavez for $94.4 million.

The company, which develops circuits for a variety of products including cars and computers, has been leasing the property for years. Now, with downtown rates skyrocketed and no end in sight, Silicon officials wanted to solidify their presence before things got too pricy.

Find out more in this edition of “Business Now” in the video above.

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