{"id":1004150743,"date":"2016-08-23T23:15:32","date_gmt":"2016-08-24T07:15:32","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004150743"},"modified":"2020-05-14T03:09:23","modified_gmt":"2020-05-14T11:09:23","slug":"menlo-equities-nabs-brand-new-austin-office-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/menlo-equities-nabs-brand-new-austin-office-asset\/","title":{"rendered":"Menlo Equities Nabs Brand-New Austin Office Asset"},"content":{"rendered":"

By Barbra Murray, Contributing Editor<\/p>\n

\"Champion<\/a>

Champion Office Park<\/p><\/div>\n

Austin<\/strong>\u2014It\u2019s brand new, it\u2019s fully leased and now it belongs to Menlo Equities<\/a>. Acting on behalf of its recently launched Menlo Equities Absolute Return Fund, the vertically integrated commercial real estate company just acquired the 221,000-square-foot Champion Office Park, a premier two-building complex in Austin, Texas, from Endeavor Real Estate Group<\/a> and Granite Properties Inc.<\/a><\/p>\n

Menlo knows how to pick \u2018em. \u201cWe\u2019ve been at this for 22 years and have stayed focused on what we know best\u2014exceptionally well-located office properties<\/a> in tech-driven submarkets that we know very well,\u201d Kevin Kujawski, president & CEO of MEARF, told Commercial Property Executive<\/a><\/em>.<\/p>\n

Endeavor and Granite, which relied on commercial real estate and capital markets services provider HFF<\/a> to market Champion, only completed development of the Overland Partners-designed buildings last year. The 28-acre campus on Champion Grandview Way is surrounded by technology companies and counts two big names as tenants. The office park attracted the attention of Jobs2Careers, which signed on for roughly 13,500 square feet ahead of Indeed.com\u2019s 213,000-square-foot lease, leaving the LEED Gold-certified property 100 percent occupied.<\/p>\n

Champion is the stuff of investors\u2019 dreams. It\u2019s the kind of asset that\u2019s simply hard to come by\u2014but perhaps not so hard for Menlo. \u201cWe value speed and efficiency during the transaction process, and we know that sellers and brokers do as well. And we have the deep capital markets relationships with institutions that trust us, know we\u2019ll perform, and are also willing to move quickly,\u201d Kujawski said. \u201cWe believe our laser focus, nimble approach, valuable relationships and ability to respond quickly give us a bit of an edge in a more competitive environment.\u201d<\/p>\n

Menlo wrapped up the initial formation of MEARF in May with $215 million of equity commitments, but that\u2019s just the beginning. Kujawski noted that an interim close is scheduled for Sept. 30, and another is likely to follow Dec. 31, potentially leaving the Fund with approximately $100 million more. And going into 2017, Menlo expects to raise as much as an additional $400 million of equity over an 18-month period. \u201cIt\u2019s an open-end, evergreen fund that could continue to raise equity and deploy capital in perpetuity,\u201d Kujawski added.<\/p>\n","protected":false},"excerpt":{"rendered":"

The two-building Champion Office Park, completed last year, is already fully occupied.<\/p>\n","protected":false},"author":969,"featured_media":1004150746,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1578,21784,21743,21808,21783,21742,21747],"tags":[],"class_list":["post-1004150743","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-austin","category-brokerage","category-deals","category-featured","category-investment","category-latest","category-office"],"acf":[],"yoast_head":"\nMenlo Equities Nabs Brand-New Austin Office Asset - 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\/menlo-equities-nabs-brand-new-austin-office-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Menlo Equities Nabs Brand-New Austin Office Asset\" \/>\n<meta property=\"og:description\" content=\"The two-building Champion Office Park, completed last year, is already fully occupied.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/menlo-equities-nabs-brand-new-austin-office-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-08-24T07:15:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-14T11:09:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/Champion-Office-Park.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"637\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/menlo-equities-nabs-brand-new-austin-office-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/menlo-equities-nabs-brand-new-austin-office-asset\/\",\"name\":\"Menlo Equities Nabs Brand-New Austin Office Asset - 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