A joint venture between Serpa Partners and AQUILA Commercial has acquired Cielo Center, a ±286,000-square-foot Class A office campus located at 1250 S. Capital of Texas Highway in West Lake Hills. Following the acquisition, AQUILA Commercial will provide leasing and property management services for the property.
Cielo Center is a premier office campus comprised of three interconnected buildings positioned on an elevated site with sweeping views of Downtown Austin and the Hill Country. The campus offers a range of suite sizes to accommodate various tenant requirements, as well as abundant covered parking, and tenant amenities including an on-site fitness center with showers and lockers, common conference facilities, and a tenant lounge. Serpa and AQUILA are planning further renovations to improve the tenant experience by enhancing interior common areas and outdoor amenity spaces.
“The acquisition of Cielo Center fits perfectly within our strategy of leveraging our extensive capabilities to breathe new life into an already great property,” said Ben Tolson, Managing Principal at AQUILA Commercial. “With additional planned updates to the campus amenities and common areas, our leasing, project management, and property management teams will work together to support current tenants, welcome new companies, and further engage the community on-site. We are very pleased to be working alongside Serpa Partners which further extends a long history of collaboration with their team.”
“We are very excited that Cielo Center is Serpa Partners’ maiden investment,” said Michael Provost, Managing Partner at Serpa Partners. “Informed by over 15 years of investing in Austin prior to launching Serpa Partners, Cielo Center fits squarely into our strategy of targeting differentiated assets in growth markets where we can find creative ways to provide tomorrow’s workspaces through a hands-on approach. We are thrilled to partner with AQUILA to bring this vision to Cielo Center.”
AQUILA Commercial’s Chad Barrett, Max McDonald, and Cody Schneider will lead the leasing assignment for the property.
Serpa Partners is a real estate investment firm focused on owning best-in-class commercial properties in strategic markets across Texas and the Southwest. With over 35 years of combined institutional real estate experience, Serpa Partners is led by Michael Provost and Erik Thoreen, with a focus on creating significant value by reimagining real estate through a creative and entrepreneurial approach. Serpa Partners provides a full suite of investment management expertise, including asset operations and management, leasing management, and development management.
For more information, visit www.serpapartners.com.
AQUILA Commercial is a full-service commercial real estate firm based in Austin, Texas. Founded in 2007, AQUILA was built on the vision of providing an integrated platform for clients across the real estate spectrum. The firm offers a complete suite of services, including tenant representation, project leasing, asset and property management, and project and development management, giving clients a single, trusted partner for all of their real estate needs.
With a focus on service, strategy, and deep local expertise, AQUILA helps tenants, owners, developers, and investors achieve their goals across every stage of the real estate lifecycle.
For more information, visit www.aquilacommercial.com.
