Dallas investor buys Austin industrial portfolio to convert to office space

Mar 27, 2014
Austin Business Journal

Westmount Realty Capital LLC has purchased a huge industrial/flex building profile in North Austin within the Braker Center


The price of the 13-building, 537,000-square foot property was not disclosed. The seller was a partnership of Dallas-based Granite Properties and Austin-based Endeavor Real Estate Group. The property was 88 percent leased at the time of closing


Westmount, based in Dallas, had not been active in the Austin market in recent years but decided to get back in, given the area’s strong economy


Located between I-35 and Mopac Expressway near Braker Lane and Metric Boulevard, Braker Center was built in the mid-1980s for light industrial use


Westmount will invest about $1.5 million to update the project and reposition it as single story, value-based office space. The name will be changed to The Offices at Braker Center. Property management services will included in leases


Current tenants include the state of Texas, Allergan Inc. USGB LLC, George P. Johnson Co. and Revenue Cycle Inc.


Industrial leasing in Austin is the strongest its been in more than a decade


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