Clarion Partners Acquires 231,000-SF Commercial Portfolio in Austin

May 16, 2014
CoStar

Clarion Partners, a New York City-based real estate investment manager, expanded its Texas holdings with the portfolio acquisition of two office buildings totaling 171,872 square feet and a retail building totaling 59,546 square feet in Austin


Mira Vista is a 124,000-square-foot, three-story office complex constructed in 2002 at 2705 Bee Caves Rd. The Overlook is a 53,000-square-foot, two-story office complex constructed in 1999 at 4330 Gaines Ranch Loop. The two properties are situated in the Southwest submarket and are a combined 98.2% occupied


Whole Foods at the Domain delivered in February 2014 at 11920 Domain Dr. The single-tenant, 100% occupied property is part of The Domain, a 1.3 million-square-foot mixed-use lifestyle center located just north of downtown Austin


The purchase is Clarion Partners' second substantial acquisition in the Austin market this year, following its purchase of the 138,008-square-foot Las Cimas IV office building in Austin's Southwest submarket in late February


Print Article opens in new window