AUSTIN, TX-Stream Realty Partners has acquired Plaza 35, a two-building, flex-space project, out of foreclosure and has enticed a new tenant to fill a portion of the 185,485-square-foot property.

Stream put the distressed property under contract when it was 100% vacant, but during escrow, it nailed down a tenant, VirTex Assembly, for the 62,719-square-foot Building A. The 122,766-square-foot Building B, which formerly housed Dell Financial Service’s call center, is still empty.

Stream bought Plaza 35, which is located near Interstate 35 and Parmer Lane in the North Austin submarket, from C3 Asset Management. The special servicer foreclosed on the property in mid-2010 after the previous owner, Irvine, CA-based Chase Merritt, was unable to continue to service the debt. The purchase price was undisclosed, but a local expert says 11-year-old property sold for less than $10 million.