Clarion Adds to Austin Office and Retail Portfolios

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.

GT Global Affiliate Buys SouthPark Office Building

The Daniels Company, a green technology and engineering company that merged with Beijing Guohua Technology Group to form the multi-national GT Global in 2012, purchased 6201 Fairview in SouthPark, a submarket of Charlotte, NC, for $9.5 million. Trinity Partners' Dunn Mileham brokered the deal on behalf of the building's owner, an affiliate of The Lionstone Group, according to a Charlotte Business Journal article. Trinity Partners' Rhea Greene, who leases 6201 Fairview on behalf of the landlord, was originally serving to help The Daniels Company to lease space within the building when the company decided they were interested in purchasing it. CBRE's Mike Fahey and Barney Earles served as The Daniels Company's brokers.

"This is one of those great transactions where our platforms blended seamlessly as everyone worked together to close the deal," said Adam Colvin, Trinity's Managing Partner. "And to have the new owner retain Rhea to lease the building while bringing us on board to manage the property; that's a fantastic endorsement for the team. We're really proud of everyone involved."

Located in the heart of SouthPark at the corner of Barclay Downs Drive & Fairview Road, the 58,529 square foot building constructed in 1991 provides unique amenities for tenants including direct walking access to SouthPark Mall, multiple dining options, as well as covered underground parking.

For more news and information visit Blumberg Capital Partners.