Massive East Austin former Freescale campus goes on auction block

Sep 19, 2014
Austin Business Journal

The massive Freescale Semiconductor Inc. industrial campus in East Austin will be sold on in a bidding process that begins Nov. 5, with a starting bid of $3.25 million

A consortium of local investors purchased the 109-acre site with eight buildings in Aug. 2012. It had been vacant for sometime as Freescale consolidated operations and moved administrative offices to southwest Austin

Local experts at the time estimated the purchase price at about $5 million, though a marketing brochure originally listed the property for $9 million

The investors — JLM Financial Investments LLC headed by veteran investors and developers Manny Farahani and lawyer Jimmy Nassour — hoped to reposition the aging corporate complex at 3443 Ed Bluestein Blvd. and attract new companies relocating to Austin. Much of the 935,255 square feet of space — branded as One83 Office Park — requires major repairs, It’s about 40 years old, but the setting is picturesque and the location is near Austin-Bergstrom International Airport

Various real estate brokers attempted to secure tenants, but it appears the effort went unrewarded

Details of the property and auction requirements are outlined on the website. Carlson Commercial owner Steve Portnoy is involved in the sale. To bid, a potential buyer must deposit $25,000

A building tour with the Austin Business Journal in December 2013 revealed some unique aspects of the vacant buildings, which are wedged between an active manufacturing facility that Freescale still owns and a data center operated by Hewlett-Packard Co. There’s a huge circular dining room and commercial kitchen with floor-to-ceiling views of the lush grounds and a 180-seat auditorium

The sales pitch on touts the inherent rights to additional development on the site and that the winning bidder also takes possession of all salvageable equipment, which may be valued in excess of $3 million

“The in-place infrastructure makes it a highly desirable complex to be used for creative and traditional office space, data center, call center, industrial manufacturing or warehouse use,” the website states

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