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Kim Gatley
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204,000-SF office/flex building flies off the market in Southeast Austin

204,000 SF office/flex space, 6800 Burleson Rd.

204,000 SF office/flex space, 6800 Burleson Rd.

A 204,346-sf office/flex building has been sold. The seller was DivcoWest Real Estate Services Inc. 

The building, which sits on 18.9 acres, is located at 6800 Burleson Rd., near Austin-Bergstrom International Airport.

The property, which was built in 1985 and renovated in 1995, was originally part of the former Lockheed Martin campus.

The buyer, Capital Commercial Investments, plans to renovate the building.

Click here to read the full article: Real Estate Roundup: Vulcan Video gets new digs; Favor secures corporate space (Austin American Statesman, 4-8-2016)

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Clarion expands Austin portfolio with Plaza on the Lake

New York-based Clarion Partners recently purchased the 100 percent-leased Plaza on the Lake (119,464 sf), located at 5000 Plaza on the Lake.

The seller was Austin-based Endeavor Real Estate Group.  Financial details were not disclosed.

Clarion Partners now owns about 3.8 million square feet in Austin. The firm …Read Entire Post

Round Rock's Boardwalk Shopping Center trades

Madison Capital Management recently sold the Boardwalk Shopping Center (184,598 sf) to a private real estate fund advised by Crow Holdings Capital – Real Estate for an undisclosed price.  The well-occupied retail center is located at 2551 I-35 S near the intersection of I-35 and State Highway 45 in Round Rock.

Boardwalk, built in 1996, was reportedly 98.6 percent occupied at the time of …Read Entire Post

Drawbridge Realty Trust acquires Overwatch Building

OS Austin, commonly known as the Overwatch Building (164,700 sf), located at 5301 Southwest Parkway, was recently sold by CBREI to San Francisco-based Drawbridge Realty Trust for a reported $42.5 million.

Originally built in 2007 as the headquarters for Overwatch Systems, Ltd., the four-story office building remains 100% occupied by Overwatch.  It …Read Entire Post

Brandywine acquires Encino Trace from Koontz McCombs

Brandywine Realty Trust recently purchased the 54-acre Encino Trace office park project from San Antonio-based real estate developer Koontz McCombs.

The land, located at 5707 Southwest Parkway, along with the development rights traded for a reported $14 million.  The suburban campus is set to include 320,000 square feet of Class A office space along with a parking garage. Additionally, the complex is slated to feature an on-site fitness center and other outdoor activity amenities.

Acting as general contractor, Koontz McCombs Construction has …Read Entire Post

Fortis Property Group acquires Aspen Lake office portfolio

Brooklyn, New York-based Fortis Property Group recently acquired three office properties in Far Northwest Austin.  The largest of the three buildings is Aspen Lake One (205,071 sf) – a four-story 100% occupied office building situated at 13875 Research Blvd.   The other two buildings included the 10-story Tower of the Hills (174,000 sf) located at 13809 Research and Tower Point at 13805 Research.

The three properties, located at the intersection of US Highway 183 and …Read Entire Post

Stonecreek Park purchased by Drawbridge Realty Trust

Stonecreek Park (76,910 sf), located at 3300 Duval Road, was recently purchased by San Francisco-based Drawbridge Realty Trust, LLC.  The two-story office building was acquired from the Lionstone Group for a …Read Entire Post

Austin listed among top 5 markets to watch in 2012

Austin snuck into the top five markets to watch next year, according to annual Emerging Trends in Real Estate report from PricewaterhouseCoopers LLP  and the Urban Land Institute.  The Capital City was ranked No. 2 on the list following Washington D.C.   San Francisco, New York City and Boston rounded out the top five.

Source: PwC & ULI

…Read Entire Post

NAI Global Set to Sell Over $150 Million in Properties

Accelerated Marketing Program Attracts Property Owners, Financial Institutions in 20 States Across the U.S.

Monthly Sales Events Feature Internet Auctions, Sealed Bids to Help Sellers Achieve Optimum Value

More than 50 properties valued in excess of $150 million will be featured in the first round of the Commercial Property PowerSale™, NAI Global’s ongoing series of national, multi-seller auction and sealed-bid sales.

NAI Global, in cooperation with its longtime alliance partner Higgenbotham Auctioneers International, created The Commercial Property PowerSale™ as part of an Accelerated Marketing Program to help property owners optimize the value of their property in today’s extremely difficult selling environment.

“This first event has generated significant interest across the U.S., and is being embraced by motivated sellers who are frustrated by gridlock in the traditional sales channels,” said Jeffrey M. Finn, NAI Global President & CEO. “We’re excited about this program’s potential to bring together buyers and sellers to create a market where one doesn’t currently exist.”

NAI Global expects to move over $1 billion in premier investment properties, financially distressed real estate and real estate loans by the end of the year, through online auctions sealed bids and a unique combination of the two formats, Finn noted.

This unique program gives clients the opportunity to sell their assets quickly, reducing their holding costs and securing true market value for the properties. Sellers in the Commercial Property PowerSale™ benefit from the tremendous marketing leverage created by aggregating properties from multiple sellers into a series of nationally marketed events.

The first Commercial Property PowerSale™ will take place online on May 1, 2009. Interested buyers will have an opportunity to bid on properties in 20 states, including New York, Washington, California, Texas, Florida and Maryland.  The properties range from development-ready land tracts to investment-grade office, retail and multi-family properties. The full list of properties and detailed bidder information is available to the public on www.naiglobal.com/powersale. Interested buyers have the option of participating by submitting a sealed-bid or bidding live during the online auction, depending on the specific property.

“This is just the first phase of the Commercial Property PowerSale™,” said Finn. “We expect momentum to grow with each subsequent event.”

The second Commercial Property PowerSale™ is scheduled for June 11, with a property submission deadline of April 13. Future events are expected to be held on a monthly basis and will also feature the sale of performing and non-performing loans, providing another solution for banks and financial institutions.

Prospective buyers and sellers interested in learning more about the Commercial Property PowerSale™ should visit www.naiglobal.com/powersale

NAI Austin is one of Austin’s most experienced commercial real estate firms and the Austin area representative for NAI GlobalTM, the industry’s largest global network of real estate service-providers, comprising 5,000 brokers in 325 offices serving more than 55 countries worldwide. For more information on NAI Austin, please visit www.naiaustin.com.