Near-Occupied Office Gets Investor Nod

Arbor Square I and II consist of two, storefront-style office buildings.

AUSTIN, TX—With market occupancy at an average of 89%, it stands to reason that an asset with 90.2% occupancy would be an investor choice. An office park that was developed in 1984 and renovated in 2007 fits that bill. Los Angeles-based Entrada Partners purchased Arbor Square , a 50,836-square-foot, multi-tenant, class-B office park from California-based AMC Investments for an undisclosed price. Logan Reichle , associate, CBRE , tells GlobeSt.com: “With market occupancy at an all-time high of 89.2%, many owners are taking advantage of the positive market conditions and selling their assets to capitalize on hard work over the last few years.” Arbor Square is located at 12885 Research Blvd., adjacent to Lakeline Mall in the northwest Austin submarket. “Arbor Square is strategically located in Austin’s Northwest tech corridor, with direct access off Research Boulevard, and adjacent to new retail and multifamily developments. This continues to be one of the strongest submarkets in the city, and we are excited to be part of its growth,” said Reuben Berman , principal, Entrada Partners. Arbor Square represents the fourth office building sold by CBRE Austin in the past six months. First vice presidents, Walter Saad and Cathy Nabours , along with Reichle, represented the seller. “Since purchasing Arbor Square through our team in 2008, AMC Investments has actively acquired and sold properties in Austin and San Antonio. The firm will still consider an outright building purchase, however their primary strategy has shifted slightly to providing equity and teaming with local operating partners,” says Saad. Arbor Square I and II consist of two, storefront-style office buildings, a fit for professional office and service-oriented tenants. “Entrada Partners continues to be a great CBRE client in the multifamily arena and this was the first time our team worked with them as buyers of Austin office product. Reuben Berman and his team at Entrada are actively seeking to buy office, retail and industrial product in Central Texas and we expect them to be successful in Austin and surrounding communities for years to come,” said Nabours.