Austin
Digital Realty Acquires Six-Building Portfolio for $31.9M
The six-building portfolio of operating data centers and flex office space at the MetCenter Business Park in Austin has changed owners, moving under the Digital Realty Trust Inc. umbrella. The acquisition price was $31.9 million.
Digital Realty Acquires 337 KSF, Six-Building Portfolio in Austin
Digital Realty Trust, already the world’s largest data center REIT, continues boosting its United States portfolio with the acquisition of a six-building holdings totaling 337,000 square feet in Austin, Texas.
New Office Tower to Break Ground in Downtown Austin
A 29-story office building will break ground on June 4. The project belongs to Cousins Properties Incorporated, a major player on the Austin real estate market for over 20 years that placed important buildings on the Austin skyline: the Palisades West, the Frost Bank Tower, and the latest purchase, the 816 Congress.
Elco Landmark Partners in Acquisition of Four Multifamily Properties
Four garden-style multifamily properties located in the Austin submarket of Round Rock and San Antonio have been acquired by a newly formed partnership between Elco Landmark Apartment Trust Holdings LLC, DeBartolo Development LLC, and LEM Capital. The combined price is of approximately $44 million.
$500M Mixed-Use Trio of Towers Proposed for Downtown Austin
“Every project begins with a vision, and this is a grand vision on a great site,” said local real estate consultant Charles Heimsath about the proposed plan to build a $500M mixed-use project downtown Austin. If the plan receives approval from the city, the Austin skyline will change dramatically through the addition of three new towers, one of which could become the city’s tallest building.
180,000-Sq.-Ft. Shopping Center Purchased by Misuma Holdings
Austin’s 180,000-square-foot shopping center, Lincoln Village, has just been purchased by veteran developers Misuma Holdings for an undisclosed sum. The new owner has not made public its plans regarding the repositioning of the acquisition, but the involved parties can await consistent changes throughout the year. Among the current tenants are Chase Bank, Gold’s Gym, the Marchesa Theater and Men’s Warehouse.
Eleven Community to Open this Summer, Pre-leasing Underway
Located in one of Forbes’ “hippest Neighborhoods” in the heart of East Austin, the Eleven apartment community has begun pre-leasing on April 1, 2013 in the Haehnel Building on East 11th Street. It will be ready to receive residents this summer.
Behringer Harvard Invests in 220-Unit M-F Project in Austin
Acting through the Behringer Harvard Multifamily REIT I, the real estate investment company is ponying up funds as a co-investor in the development of Seven RIO, a 220-unit luxury apartment community in downtown Austin.
KBS Strategic Opportunity REIT Ropes in 500 KSF Austin Portfolio
KBS Strategic Opportunity REIT has increased its office holdings in Austin to approximately 1.5 million square feet with the acquisition of the Austin Suburban Portfolio, a group of three office properties totaling 518,000 square feet.
Karlin Real Estate Acquires 186,000-Sq.-Ft. Plaza 35
Karlin Real Estate, one of the most active real estate investors in Austin, has closed another acquisition recently. The Los Angeles-based investor purchased Plaza 35, a 186,000-square- foot property at 12234 N. I-35.