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A trio of office/flex buildings in Austin, Texas have fetched $11.14 million (or nearly $52 per sq. ft.). Privately-held Braker Center LP bought the buildings from ITW Mortgage Investments III. GMH Capital Partners, an investment sales brokerage, represented the seller on the deal.
The properties are located on a 160-acre business park property known as the Braker Center. The buildings were 22% occupied at the time of sale.
"Being in the highly sought after Austin market, this asset saw a tremendous amount of investor interest from both regional and national players," says Bill Tourtellotte, GMH Capital Partners. "Austin is viewed very favorably by national participants and seems to be on everyone's radar screen.”
