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Cap rates for the single tenant net leased market remained near historic lows for retail, office and industrial sectors in the first quarter of 2013. Cap rates for net lease office and industrial properties declined while retail cap rates remained at 2012 fourth quarter levels. Regardless of the decline in cap rates for office and industrial properties, [...]  Plaza 35 Los Angeles-based Karlin Real Estate, one of the most active real estate investors in Austin, recently purchased Plaza 35, a two-building office flex project spanning 186,000 square feet located at 12234 N. I-35. At the time of the sale, the Class B property was reportedly 100 percent occupied by Yodle Inc., VirTex Assembly Services and Logisticare [...] Galleria Oaks World Class Capital Group, LLC, an Austin-based private investment and asset management firm, recently announced that it acquired Galleria Oaks, a 100,000 square foot retail center located at 13376 Research Blvd. (US 183) in Northwest Austin just south of Lakeline Mall. West End Center The West End Center (50,100 sf), located at 1214 W. Sixth St., has been renamed West Side Village by new owner AWSV LP. The mixed-use property, anchored by Julian Gold is expanding its space by 5,000 square feet to total roughly 15,000 square feet. 9900 Spectrum California-based LegalZoom Inc., an online legal document service, recently purchased 9900 Spectrum Drive – a 206,000 square foot office and manufacturing building located in the Davis Springs Spectrum Business Park in Far Northwest Austin. The property reportedly sold by White Stone Properties Ltd. for $21 million.
Portion of Freescale’s E Austin campus A large portion of the Freescale facility located at 3501 Ed Bluestein Blvd. in southeast Austin recently landed a new owner. MFPB Ed Bluestein LLC, comprised of several real estate investors, purchased the sprawling 935,255-square-foot facility which spans nine buildings situated on 109 acres. The new owners are expected [...] The July/August issue of Commercial Investment Real Estate magazine included an article called At the Office Crossroads: What’s the next move for investors which featured NAI REOC Austin’s own Bob Rein, CCIM. The article points to the fact that improvement in market fundamentals in top secondary markets, like Austin, is driving investor interest. NAI REOC Austin recently assisted in the sale of 42.6 acres on Heatherwilde Blvd. in Pflugerville, Texas. The site is located near existing and future mixed-use residential developments and is situated only one mile north of the Dell Computer Campus in Austin. The property will be developed as a K thru 12 parochial school operated by [...] Bob Rein, CCIM, associate vice president with NAI REOC Austin, was quoted in the March/April issue of Commercial Investment Real Estate, the magazine of the CCIM Institute. Please read his comments in “Small(er) Markets, Big Opportunities.” CCIMs have earned an internationally recognized professional designation that signifies their expertise in commercial investment real estate. The Shops at Ladera Bend Live Oak-Gottesman LLC purchased The Shops at Ladera Bend (7300 RM 2222) in Northwest Austin from Wells Fargo on Friday for an undisclosed amount. Live Oak-Gottesman plans to lease and manage the property. Retail spaces ranging from around 1,050 square feet to 13,000 square feet are available for lease. Current tenants [...] |
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