{"id":1004125034,"date":"2015-08-10T13:35:53","date_gmt":"2015-08-10T21:35:53","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=357326"},"modified":"2020-05-18T03:40:50","modified_gmt":"2020-05-18T11:40:50","slug":"tier-reits-shopping-spree-at-the-domain","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/tier-reits-shopping-spree-at-the-domain\/","title":{"rendered":"TIER REIT\u2019s Shopping Spree at The Domain"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Anca Gagiuc, Associate Editor<\/em><\/p>\n<div id=\"attachment_357328\" class=\"wp-caption alignright\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/08\/the-domain-.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-357328\" title=\"The Domain\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/08\/the-domain-.jpg\" alt=\"The Domain\" width=\"300\" height=\"214\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">The Domain<\/p>\n<\/div>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.tierreit.com\/\" rel=\"nofollow\" >TIER REIT<\/a> has picked up a big chunk of The Domain, a premier mixed-use development in Northwest Austin. In a stroke, the Dallas-based company has expanded its local footprint to 1.1 million square feet of office space and 2.1 million square feet of potential future office development.<\/p>\n<p style=\"text-align: justify;\">\u201cThe Domain attracts Austin area residents and workers for its live-work-play attributes. This master planned development has been highly successful and continues to expand with new office space, additional outdoor street-scape retail shopping and multifamily housing,\u201d said Bill Reister, chief investment officer &amp; executive vice president of TIER REIT, in a statement.<\/p>\n<p style=\"text-align: justify;\">The company acquired two Class A office buildings totaling 332,000 square feet, a partnership interest in two additional office properties totaling 337,000 square feet as well as 24 acres for potential development. The price tag has not been disclosed.<\/p>\n<p style=\"text-align: justify;\">\u201cThe Domain acquisition fits perfectly into our Austin strategy of owning and developing best-in-class office properties in our targeted Austin submarkets\u2014Southwest, CBD and The Domain. Our Austin portfolio has the potential to grow through development to more than two million square feet over the next several years,\u201d said Scott Fordham, CEO &amp; president of TIER REIT. \u201cThe opportunity for creating additional value makes this acquisition very compelling compared to other current investment opportunities.\u201d<\/p>\n<p style=\"text-align: justify;\"><em>Image courtesy of The Domain<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A big chunk of the premier mixed-use development in Northwest Austin, The Domain, has been sold to a Dallas-based real estate investment trust.<\/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":[],"class_list":["post-1004125034","post","type-post","status-publish","format-standard","hentry","category-austin","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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