{"id":1004647256,"date":"2023-02-23T05:00:34","date_gmt":"2023-02-23T13:00:34","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004647256"},"modified":"2023-04-19T01:58:38","modified_gmt":"2023-04-19T09:58:38","slug":"cim-group-sells-austin-office-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cim-group-sells-austin-office-building\/","title":{"rendered":"CIM Group Sells Austin Office Building"},"content":{"rendered":"
\"\"

Hartland Plaza in Downtown Austin. Image courtesy of CIM<\/p><\/div>\n

CIM Group<\/strong> has sold Hartland Plaza, a 184,128-square-foot office building in Austin, Texas. However, the firm plans to acquire additional properties in the Austin market, Shaul Kuba, co-founder & principal, said in a prepared statement.<\/p>\n

In the meanwhile, CIM Group already has several other transactions in the making. The firm recently agreed to sell<\/a> a 4.6 million-square-foot portfolio, consisting of 185 retail and industrial non-core net lease properties, to Realty Income Corp. The $894 million deal would be CIM\u2019s fourth with the company.<\/p>\n

A Class A office asset<\/h2>\n

Completed on 3.4 acres in 1984, Hartland Plaza underwent extensive renovations from 2017 to 2019. The Class A, four-story building features 46,000-square-foot floorplates and more than 13,000 square feet of retail, according to CommercialEdge data. CIM had acquired the asset in 2015.<\/p>\n

Located at 1717 W. Sixth St. in Austin\u2019s downtown, the property includes a subterranean parking garage and an adjacent four-story parking structure. Amenities include a conference facility, fitness center, restaurant, salon and health spa. CIM also integrated bipolar ionization technology<\/a> into the building\u2019s HVAC system to improve air quality.<\/p>\n

According to CommercialEdge data, Hartland Plaza was the largest office building that has changed hands in Austin since the beginning of the year. While the sales volume was on the small side, the metro continued to have one of the largest pipelines in the country, with 6.7 million square feet of office space under construction as of January, a recent report<\/a> reveals.<\/p>\n","protected":false},"excerpt":{"rendered":"

Hartland Plaza is the largest office asset to change hands in the metro so far this year.<\/p>\n","protected":false},"author":3154,"featured_media":1004647266,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1578,21783,21742,21747,51973],"tags":[33194],"class_list":["post-1004647256","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-austin","category-investment","category-latest","category-office","category-southwest","tag-cim-group"],"acf":[],"yoast_head":"\nCIM Group Sells Austin Office Building - 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\/cim-group-sells-austin-office-building\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CIM Group Sells Austin Office Building\" \/>\n<meta property=\"og:description\" content=\"Hartland Plaza is the largest office asset to change hands in the metro so far this year.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cim-group-sells-austin-office-building\/\" \/>\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=\"2023-02-23T13:00:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-19T09:58:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/Hartland-Plaza-Exterior-002.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Fotios Tsarouhis\" \/>\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\/cim-group-sells-austin-office-building\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cim-group-sells-austin-office-building\/\",\"name\":\"CIM Group Sells Austin Office Building - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cim-group-sells-austin-office-building\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cim-group-sells-austin-office-building\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/Hartland-Plaza-Exterior-002.jpg\",\"datePublished\":\"2023-02-23T13:00:34+00:00\",\"dateModified\":\"2023-04-19T09:58:38+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/98b17361e75363c0b179f1a51ccb5cc8\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cim-group-sells-austin-office-building\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/cim-group-sells-austin-office-building\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cim-group-sells-austin-office-building\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/Hartland-Plaza-Exterior-002.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/Hartland-Plaza-Exterior-002.jpg\",\"width\":800,\"height\":620,\"caption\":\"Hartland Plaza in Downtown Austin. 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