AUSTIN--CBRE Capital Markets' Investment Properties team has announced the sale last month of a 9,522-square-foot office building at 3108 North Lamar Blvd. in Austin. A local investment firm purchased the asset from an Austin partnership for an undisclosed price.
“Demand for centrally located properties, especially on a main thoroughfare like Lamar Boulevard, creates exceptionally strong competition within both the investment and owner-occupant communities,” Logan Reichle, with CBRE, told GlobeSt.com. “This asset is a great investment for the near and long term.”
The central Austin property is 85 percent occupied. The main tenant, gift card e-commerce provider QuickGifts Inc., occupies 4,347 square feet. It is in close proximity to Seton Medical Center and The Heart Hospital of Austin.
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