Central Health acquires a 116,000-sqft office complex at Cameron Rd, Austin, to house clinics, pharmacies, detox centers, and respite care beds for the homeless.
Georgetown is getting a new shopping destination with the opening of a 160,000-sf Costco warehouse at 2201 N. I-35 in June.
The Libertad Austin project is set to bring much-needed affordable housing to Austin with 198 units across three four-story buildings. Most of the apartments will be reserved for families making at or below 30 to 60 percent of the median family income, while the remaining 50 will be reserved for those experiencing homelessness.
Alexan Springdale, a 251-unit apartment community located on Springdale Road in Austin, has been sold. The property boasts studio, one-, and two-bedroom units that each have an average of 824 square feet. In addition, the complex features a range of amenities such as a pool, fitness center, game room, clubhouse, and outdoor grilling and dining areas. At the time of sale, the property was 94 percent occupied. Newmark represented the seller, Trammell Crow Residential, in the transaction, and Sterling Equities acquired the asset.
Smart Austin Realty Group is excited to share news of the upcoming redevelopment project at the 22.5-acre site located at the intersection of East Riverside Dr. and SH 71. This ambitious project, called East Riverside Gateway, will be a seven-building mixed-use development with residential, office, retail, and restaurant uses. The site, which currently houses a storage facility and a former mobile home park, will feature four of the buildings devoted to multifamily usage and around 4,000 onsite parking spaces. Construction is scheduled to begin within the next twelve months, with Steinberg Hart serving as the project's designer. We look forward to watching this transformational project unfold.
Factory Building Stores recently signed a large industrial lease for 167,794 square feet of space at Lockhart 130 Industrial Park. The building, which is a rear-load structure, will boast 32-foot clear heights and 37 dock doors. The Lockhart 130 Industrial Park is situated on 45.1 acres and will eventually feature four buildings. AQUILA Commercial represented the landlord, Titan Development, in the lease negotiations, while HPI Real Estate Services & Investments acted on behalf of the tenant.
Aspen Heights Partners is set to revitalize the former HealthSouth rehabilitation hospital in Austin, Texas. The plans are ambitious, and involve the construction of two 37-story towers at 1215 Red River St. and 606 E. 12th St. These two towers combined will contain 921 apartments, with 25 percent of them reserved for affordable housing for at least 99 years. This redevelopment of the former HealthSouth site will benefit the local community, providing much needed housing in the area.
Smart Austin Realty Group has recently reported news of Hartland Plaza, a 184,128-square foot office building, being sold. Located at 1717 W. 6th St. on 3.4 acres, the property is equipped with various amenities, such as a four-story garage, lounge, fitness center, salon, onsite restaurant, and conference facilities. The sale was brokered by CIM Group. This news follows other recent office news in the Austin-Round Rock area, as reported by REBusiness Online.
Smart Austin Realty Group is pleased to report that Kroger Co has opened a 70,000-square-foot delivery service center at Tuscany Logistics Center in Austin. The Cincinnati-based grocery store chain has signed a six-year lease agreement for the space.
Tuscany Logistics Center is a 373,648-square-foot development owned by Dallas-based Dalfen Industrial. The other two buildings in the complex are occupied by Target and Diligent Deliver.
These new developments are part of a larger trend of industrial growth in the Austin-Round Rock area.
Smart Austin Realty Group is pleased to report that Baranof Holdings recently purchased a 1,041-unit self-storage facility from KKR, which was represented by CBRE. The facility is managed by CubeSmart and offers 100,417 net rentable square feet of climate-controlled space. At the time of sale, it was 90% occupied. This is an exciting development for the Austin-Round Rock area and will help contribute to the growing industrial sector.