Austin Suburban Portfolio

7600 N Capital Of Texas Hwy, Austin, TX 78731

Property Overview

The Austin Suburban Portfolio consists of three office properties located on approximately 32.4 acres of land in the northwest submarket of Austin, Texas. The properties encompass one Class A and seven Class B buildings with a total of 517,974 square feet. The combined occupancy was approximately 75% at the time of acquisition. The individual asset breakdown is as follows: 

Great Hills Plaza: 139,252 SF

Park Centre: 203,193 SF

Westech 360: 175,529 SF 

There are two main value-add opportunities for this portfolio: First, there is the opportunity to increase occupancy in Park Centre and Westech 360; and second, many of the leases across all three assets are below market, creating an opportunity to increase the rental rates to market rates for new tenants in a rising rent environment.

Investment at a Glance

  • Location: Austin, TX
  • Property Type: 7 Class B/1 Class A Office
  • Acquisition Date: Mar 28, 2013
  • Purchase Price: $76,000,000
  • Square Footage: 517,974 SF
  • Number of Buildings: 3 Properties, 8 Buildings
  • Number of Stories: 2 to 4
  • Leased Percentage (at the time of acquisition): 74.8%

$76,000,000

Total Purchase Price

517,974

square feet

Total Rentable Area

Class A

Building Class