{"id":1004355911,"date":"2019-09-27T02:04:45","date_gmt":"2019-09-27T10:04:45","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004355911"},"modified":"2019-09-27T02:18:00","modified_gmt":"2019-09-27T10:18:00","slug":"national-instruments-sells-austin-office-asset-for-35m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/national-instruments-sells-austin-office-asset-for-35m\/","title":{"rendered":"National Instruments Sells Austin Office Asset for $35M"},"content":{"rendered":"<p><script src=\"https:\/\/whatcounts_saas.s3.amazonaws.com\/RLM-01ccfaab-8867-47ae-a347-cc89ebb4a7fc\/custom_forms\/CPE_Daily_Subscriber_Acquisition_2373_16.js\" async=\"\"><\/script><\/p>\n<p>Madison Marquette, on behalf of Bridgepoint Parkway Investors, has acquired The Millennium office building located at 6504 Bridgepoint Parkway on Shepherd Mountain, in Austin, Texas. The is the entity\u2019s first acquisition in the Texas capital.&nbsp;<\/p>\n<p>As per Yardi Matrix data, the 128,617-square-foot, five-story Class B office property occupies more than 4 acres and was built in 1985 by National Instruments as a build-to-suit. The property features controlled access on the premises, two passenger elevators, standard ceiling height and 476 parking spaces. The previous owner renovated the asset and included a fitness center, locker rooms, a first-floor balcony and a terrace on the fifth floor.<\/p>\n<p>Cushman &amp; Wakefield Capital Markets Group Vice Chairman Mike McDonald and Senior Directors Celeste Fowden and Katy Jane Jenevein represented the seller, National Instruments. According to public records, the property sold for $34.5 million, with more than $26 million provided by BBVA USA through a commercial mortgage loan.&nbsp;<\/p>\n<h2>Further improvements<\/h2>\n<p>Madison Marquette will <a href=\"https:\/\/www.commercialsearch.com\/news\/madison-marquette-pmrgs-big-merger-whats-next\/\">provide investment, asset and project management services<\/a> to complete an enhanced repositioning program. Specifically, plans include the incorporation of a speculative suite program, adding a management and conference facility, as well as upgrading both interior and exterior common areas, including the fifth-floor terrace. Upon the close of escrow, The Millennium was 66 percent occupied by five tenants including HotSchedules and Leafhouse Financial.<\/p>\n<p>Bridgepoint Parkway Investors was formed in 2012 and has an office portfolio including properties in Houston, Boston, Atlanta, Philadelphia, Tampa, Fla., Sausalito, Calif., and Scottsdale, Ariz. The new ownership plans to uplift the asset in coordination with AQUILA Commercial, who will lease and manage the property.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The buyer is a discretionary institutional commercial real estate fund formed in 2012, represented in its first foray into the market by Madison Marquette.<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1578,21743,21825,21783,21742,21747],"tags":[37534,47186,47183,32799,33671,47180],"class_list":["post-1004355911","post","type-post","status-publish","format-standard","hentry","category-austin","category-deals","category-finance","category-investment","category-latest","category-office","tag-aquila-commercial","tag-bbva-usa","tag-bridgepoint-parkway-investors","tag-cushman-wakefield","tag-madison-marquette","tag-national-instruments-corporation"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>National Instruments Sells Austin Office Asset for $35M - 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\/national-instruments-sells-austin-office-asset-for-35m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"National Instruments Sells Austin Office Asset for $35M\" \/>\n<meta property=\"og:description\" content=\"The buyer is a discretionary institutional commercial real estate fund formed in 2012, represented in its first foray into the market by Madison Marquette.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/national-instruments-sells-austin-office-asset-for-35m\/\" \/>\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=\"2019-09-27T10:04:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-09-27T10:18:00+00:00\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\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\/national-instruments-sells-austin-office-asset-for-35m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/national-instruments-sells-austin-office-asset-for-35m\/\",\"name\":\"National Instruments Sells Austin Office Asset for $35M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"datePublished\":\"2019-09-27T10:04:45+00:00\",\"dateModified\":\"2019-09-27T10:18:00+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/national-instruments-sells-austin-office-asset-for-35m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/national-instruments-sells-austin-office-asset-for-35m\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/national-instruments-sells-austin-office-asset-for-35m\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"National Instruments Sells Austin Office Asset for $35M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\",\"name\":\"Anca Gagiuc\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g\",\"caption\":\"Anca Gagiuc\"},\"description\":\"Anca Gagiuc brings more than a decade of experience within the real estate industry. She is a senior associate editor with Commercial Property Executive and Multi-Housing News who also writes monthly multifamily reports at Yardi Matrix. Contact Anca at anca.gagiuc@cpe-mhn.com\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/anca-gagiuc\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"National Instruments Sells Austin Office Asset for $35M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/national-instruments-sells-austin-office-asset-for-35m\/","og_locale":"en_US","og_type":"article","og_title":"National Instruments Sells Austin Office Asset for $35M","og_description":"The buyer is a discretionary institutional commercial real estate fund formed in 2012, represented in its first foray into the market by Madison Marquette.","og_url":"https:\/\/www.commercialsearch.com\/news\/national-instruments-sells-austin-office-asset-for-35m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2019-09-27T10:04:45+00:00","article_modified_time":"2019-09-27T10:18:00+00:00","author":"Anca Gagiuc","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/national-instruments-sells-austin-office-asset-for-35m\/","url":"https:\/\/www.commercialsearch.com\/news\/national-instruments-sells-austin-office-asset-for-35m\/","name":"National Instruments Sells Austin Office Asset for $35M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"datePublished":"2019-09-27T10:04:45+00:00","dateModified":"2019-09-27T10:18:00+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/340a1a5e8e7dd137bd91ca1dd3a2e9d7"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/national-instruments-sells-austin-office-asset-for-35m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/national-instruments-sells-austin-office-asset-for-35m\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/national-instruments-sells-austin-office-asset-for-35m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"National Instruments Sells Austin Office Asset for $35M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/340a1a5e8e7dd137bd91ca1dd3a2e9d7","name":"Anca Gagiuc","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g","caption":"Anca Gagiuc"},"description":"Anca Gagiuc brings more than a decade of experience within the real estate industry. She is a senior associate editor with Commercial Property Executive and Multi-Housing News who also writes monthly multifamily reports at Yardi Matrix. Contact Anca at anca.gagiuc@cpe-mhn.com","url":"https:\/\/www.commercialsearch.com\/news\/author\/anca-gagiuc\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004355911","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/237"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004355911"}],"version-history":[{"count":8,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004355911\/revisions"}],"predecessor-version":[{"id":1004355992,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004355911\/revisions\/1004355992"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004355911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004355911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004355911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}