{"id":1004085499,"date":"2013-10-21T11:08:29","date_gmt":"2013-10-21T19:08:29","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=201728"},"modified":"2022-12-06T08:57:53","modified_gmt":"2022-12-06T16:57:53","slug":"velocis-forms-partnership-with-moors-associates-through-the-acquisition-of-two-office-buildings","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/velocis-forms-partnership-with-moors-associates-through-the-acquisition-of-two-office-buildings\/","title":{"rendered":"Velocis Forms Partnership With Moors & Associates Through the Acquisition of Two Office Buildings"},"content":{"rendered":"

By Anca Gagiuc, Associate Editor<\/em><\/p>\n

\"\"<\/a>A new partnership has formed between Bethesda, MD-based Moore & Associates and Dallas-based Velocis Fund. The latter partner acquired the majority interest in two Class A office buildings. The first, Arboretum Atrium, is located at 9737 Great Hills Trails and the second being Las Cimas I at 804 Las Cimas Blvd. The two properties total 170,000 square feet.<\/p>\n

Moore & Associates, the partner in the original investment who acquired both assets in 2004, will keep its minority ownership as well as continue to manage and lease the properties. Alfa Insurance Company, the other initial partner, sold its interest to Velocis who became the majority owner.<\/p>\n

\u201cThese two assets are strategically located in prime demographic areas of Austin\u2019s northwest and southwest subdivisions. Not only is Austin one of the most desired live-work-and-play cities, but the supply-constrained market makes this a perfect demand driven purchase,\u201d says Mike Lewis, a Velocis principal and co-founder. \u201cWe have an ideal partner in Moore & Associates, who shares our in-fill location strategy and is a best in class management team.\u201d<\/p>\n

Arboretum Atrium encompasses 91,083 square feet of Class A office space and is recently renovated. It has a three-story atrium with skylights, indoor fountains and greenscapes. The fully-leased property in Northwest Austin is conveniently located near restaurants, shops, hotels and other area attractions, and it is just one block from Highway 183, MoPac and Loop 360.<\/p>\n

\"\"<\/a>Las Cimas I offers 82,787 square feet of office space and was built in 2000. The contemporary limestone fa\u00e7ade is complemented by mature trees, views of downtown, and other on-site amenities. It is located in Southwest Austin, at the corner of Bee Caves and Loop 360.<\/p>\n

Aside from the two office buildings, the Fund\u2019s Austin portfolio includes a medical office building and the retail centers Woods Shopping Center and Springdale Shopping Center. With these purchases the asset value under management of the Fund reaches $264 million in Texas and Colorado.<\/p>\n","protected":false},"excerpt":{"rendered":"

A new partnership has formed between Bethesda, MD-based Moore & Associates and Dallas-based Velocis Fund. The latter acquired the majority interest in two Class A office buildings: Arboretum Atrium at 9737 Great Hills Trails and Las Cimas I at 804 Las Cimas Blvd; the properties total 170,000 square feet.<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1578,21742],"tags":[39411,1815],"class_list":["post-1004085499","post","type-post","status-publish","format-standard","hentry","category-austin","category-latest","tag-austin","tag-national"],"acf":[],"yoast_head":"\nVelocis Forms Partnership With Moors & Associates Through the Acquisition of Two Office Buildings - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/velocis-forms-partnership-with-moors-associates-through-the-acquisition-of-two-office-buildings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Velocis Forms Partnership With Moors & Associates Through the Acquisition of Two Office Buildings\" \/>\n<meta property=\"og:description\" content=\"A new partnership has formed between Bethesda, MD-based Moore & Associates and Dallas-based Velocis Fund. 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