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enior Vice President & Director of Research at REOC Austin

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M&M Arranges Sale of Shopping Center in Austin

Marcus & Millichap has arranged the sale of Oak Hill Centre, a 43,261-square-foot retail center in Austin. Michael Buckner and Richard Mireles of Marcus & Millichap represented the seller, a Texas-based limited partnership, and procured the buyer, another Texas-based limited partnership. Built in 1984, Oak Hill Centre is located at the intersection of William Cannon Drive and Highway 290. At the time of the sale, the property was 96.5 percent occupied.

Orinally post on REBusiness Online: M&M Arranges Sale of Shopping Center in Austin 10-21-2016

 

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Stratus sells HEB-anchored retail center in $114M deal

Larger HEB planned for Marble Falls.

Stratus Properties Inc. has inked a blockbuster deal to sell its new HEB Grocery Co.-anchored retail development in Lakeway for $114 million. The buyer of the Oaks at Lakeway is TA Realty LLC, a private real estate investment company headquartered in Boston with offices on the West Coast.

HEB Grocery Co. is the anchor tenant at the Oaks at Lakeway, which has been developed and delivered by Austin’s Stratus Properties during the past couple of years. The price point is an eye-opener for a neighborhood shopping center, but there are some conditions that must be met. …Read Entire Post

REOC Austin Facilitates Sale of Buda Property

REOC Austin Logo Outlines No CapitolPerry Horton, CCIM of Lead Commercial and Josh Hubka, CCIM of REOC Austin represented Cotton Development 2, L.P. in the sale of 43.686 acres in Buda to Back 40 Developers, LLC.  Jeremy Cummings of Structure Commercial represented the Buyer.

Indeed to move downtown Austin sales office to larger location as it grows workforce

Indeed purchases new office location to house it's growing workforce.

Indeed purchases new office location to house it’s growing workforce.

Indeed Inc., an online job-listing service, is relocating its downtown sales office to a space capable of accommodating more than 275 workers. Indeed, which was founded in 2004, aggregates job listings from thousands of other online job posts. It employs 3,000 workers, including 800 in Austin. …Read Entire Post

Baylor Scott & White buys Lakeway Regional Medical Center

lrmc logo

Baylor Scott & White purchases Lakeway Regional Medical Center.

Baylor Scott & White Health has purchased the operations of Lakeway Regional Medical Center, a hospital west of Austin that has at times experienced financial difficulties in the four years since it was founded, for an undisclosed price.

The facility will be renamed Baylor Scott & White Medical Center-Lakeway and the transition will be complete by the end of the summer, according to a July 6 announcement. Philippe Bochaton, CEO of Lakeway Regional Medical Center, will remain as CEO of Baylor Scott & White Medical Center-Lakeway. …Read Entire Post

$271M sale of city's largest shopping center close

Southpark Meadows deal finally closes.

A large portion of Southpark Meadows shopping center, the biggest development of its kind in the Austin area, has changed hands. Mega-investor The Blackstone Group purchased Phases I and II of the South Austin regional shopping center — about 910,000 square feet — from Canada-based RioCan real estate investment trust.

The deal — part of a $1.9 billion, 50-property portfolio sale — recently closed after being announced last year. …Read Entire Post

CapRidge Partners buys West Austin office park

CapRidge Partners purchases Lakewood on the Park office park

CapRidge Partners purchases Lakewood on the Park office park

Austin-based CapRidge Partners purchased Lakewood on the Park, Buildings B and C, from Equity Commonwealth. The office investment transaction was announced May 31 by Mesa West Capital LLC, a private debt fund manager and portfolio lender with offices in Los Angeles, New York and Chicago. CapRidge Partners recently purchased Lakewood on the Park at 7600 N. Capital of Texas Highway.

CapRidge Partners recently purchased Lakewood on the Park at 7600 N. Capital of Texas. Mesa West provided a $32,145,000 short term, non-recourse loan to CapRidge Partners toward the acquisition of the 180,558-square-foot office property at 7600 Capital of Texas Highway. …Read Entire Post

H-E-B buys Twin Oaks Shopping Center on Congress

HEB recently purchased the Twin Oaks Shopping Center on South Congress.

HEB recently purchased the Twin Oaks Shopping Center on South Congress.

In a South Austin real estate deal, grocery chain H-E-B has purchased the Twin Oaks Shopping Center, a decades-old, ten-acre property at South Congress Ave. and Oltorf St. H-E-B closed on the purchase of the Twin Oaks center at 2315 S. Congress Ave.

H-E-B’s current store at South Congress and Oltorf was built in 1957. The company hasn’t commented on the store’s future after the grocery chain bought the ten-acre shopping center across South Congress Avenue from the store. …Read Entire Post

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)

Bee Cave shopping center honey of a deal for Illinois buyer

The Shops at the Galleria.

The Shops at the Galleria.

Oakbrook, Illinois-based InvenTrust Properties Corp. has purchased the Shops at the Galleria, a fully occupied, 537,684-sf regional power center in the Hill Country.

Located at 12780 Shops Pkwy., about 16 miles southwest of the Austin Central Business District, the 11-year-old shopping center houses Lowe’s Home Improvement, Home Goods, Michael’s, Marshalls, Old Navy, PetSmart, World Market, Best Buy, ULTA, and Office Max.

…Read Entire Post