Clarion Partners has expanded its Austin portfolio with the acquisition of Mira Vista and The Overlook, an office portfolio, and a single tenant retail property occupied by Whole Foods Market Inc. The office portfolio was purchased from Houston-based The Lionstone Group, while the retail building was developed and owned by Austin-based Endeavor Real Estate Group in partnership with RREEF, now known as Deutsche Asset & Wealth Management. HFF represented the seller for both transactions; terms of the deals were not disclosed.
"We're excited to expand our portfolio in Austin," said Brian Watkins, a Managing Director at Clarion Partners. "This is one of the strongest major metropolitan markets in the country and we believe the strong location and proximity to amenities make these assets an excellent addition to our portfolio."
The 171,872 square foot, two-building office portfolio is currently 98.2% leased across a variety of professional service industries. Mira Vista and The Overlook were developed in 2002 and 1999, respectively, and are occupied with a strong tenant roster across varied industries including finance, real estate, legal, education and technology. Whole Foods has a long-term lease for the 60,000-square-foot property at 11920 Domain Drive.
For more news and information visit Blumberg Capital Partners.
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