North Austin office building changes hands in off-market deal

Jan 21, 2015
Austin Business Journal

A Texas partnership has purchased the Executive Plaza office building at 14205 Burnet Road for an undisclosed price


The seller was Austin-based Sage-Executive Ltd., an entity formed by Sage Land Co. That company has owned the property since 2000, according to records at the Travis Central Appraisal 


District, though representatives of the seller said the company has owned it since 1996


The buyer group, CAD-WAL Ltd., includes several other entities — Schrogin Baar VII Ltd., Schrogin Baar XII Ltd, MO-Walt Ltd., Larry Morrow and Betty Morrow, according to a special warranty 


deed filed with the Travis County Clerk office


TCAD records show the 64-158-square-foot, multitenant office building is valued at about $5.9 million and includes almost 2.7 acres of land. The filed special warranty deed indicates that a 


promissory note for $5.75 million was signed by the buyer in favor of Independent Bank


Located near MoPac Expressway and Wells Branch Parkway, the six-story structure was built in 1985


The off-market deal was handled by Mike Murphy of Aquila Commercial LLC on behalf of the seller and Wes Walters of Wes Walters Realty on behalf of the buyer


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