NY investors snaps up Austin offices, Whole Foods site at The Domain

May 14, 2014
Austin Business Journal

New York-based Clarion Partners has acquired two more Austin office buildings and the new retail building that Whole Foods Market Inc. occupies in the Domain

In March, Clarion purchased Las Cimas IV at 900 S. Capital of Texas Highway for $43.2 million, according to a report by CoStar Group

The new office buildings, which both were purchased from Houston-based The Lionshare Group, are Mira Vista at 2705 Bee Cave Road and The Overlook at Gaines Ranch, 4330 Gaines Ranch Loop. Together they encompass 171,872 square feet and were 98.2 percent occupied at time of closing

The Whole Foods building at 11920 Domain Drive was built and owned by Austin-based Endeavor Real Estate Group in partnership with RREEF, now known as Deutsche Asset & Wealth Management. Whole Foods has a long-term lease for the 60,000-square-foot property

According to records at the Travis Central Appraisal District, Mira Vista, which was built in 2002, is valued at almost $33.8 million and The Overlook at Gaines Ranch, which was built in 1999, is valued at about $12.3 million

Last week, Clarion acquired University Park Tech Center— 165,007 square feet of Class A flex/office space — in San Antonio

Austin-based Live Oak-Gottesman will handle leasing and management for both office properties. That company occupies about 12,000 square feet in The Overlook at Gaines Ranch

“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,” said Brian Watkins, managing director at Clarion, in a statement

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