AUSTIN--ATCO Properties & Management, a Manhattan, N.Y.-based owner/operator of class A commercial real estate, has acquired 1300 Guadalupe Street in downtown Austin and has sold the Crossroads Center in north central Austin for undisclosed sums.

“We are excited and proud to be invested in such a great city,” Damon Hemmerdinger, co-president of ATCO Property & Management, told GlobeSt.com. “This portion of downtown Austin is on a path of growth as it continues its transformation into a live/work/play environment. We believe there is great opportunity to grow rents and create value as more amenities come into the area.”

The property at 1300 Guadalupe is a 100-percent occupied, 45,000-square-foot commercial office building located in the densely populated community of downtown Austin, situated just two blocks west of the Capitol. The creative/loft-style property is anchored by several tenants, including projekt 202, Snow Software, Noack Little Architecture and Honeywell International Inc.