The Golfsmith property is centrally located between San Antonio and Dallas, and fronts Interstate 35 just south of the Braker Lane exit near US Route 183. The rapidly growing Northwest office market is home to major employers such as Dell, Emerson, General Motors and Samsung.

Golfsmith filed for Chapter 11 bankruptcy protection in September last year and subsequently entered into a sale agreement for its retail operations with a joint venture of Dick's Sporting Goods and a team of liquidators that will run going out of business sales at some US and Canadian locations, while keeping others running as going concerns.

Golfsmith International was represented by Michael Jerbich of A&G Realty Partners. BH Properties represented itself.

In 2015, BH Properties purchased approximately 1.8 million square feet of industrial buildings in a bankruptcy sale by Radio Shack in Fort Worth, paying $39.2 million for the five properties and land assets. The firm has subsequently sold or leased the majority of the space and is actively pursuing similar opportunities.

In addition to value-add acquisitions, BH Properties is also in the market to buy long-term ground leases and leased fee positions. In October of last year, BH Properties acquired a portfolio of leased fee positions under three New York City hotels from Lexington Realty Trust for $338.2 million.

AUSTIN, TX—In another example of investors scooping up bankruptcy properties, much like the repositioning activities in the Fort Worth Radio Shack portfolio, BH Properties has acquired another retailer asset. BH acquired the former Golfsmith International Holdings Inc. headquarters facility as the stalking horse bidder in the debtor's bankruptcy liquidation process. The sale had been scheduled for an auction but was canceled when BH Properties became the only prospective bidder.

The Los Angeles-based investor purchased the four-building 332,345-square-foot property on 40 acres for $20.5 million, according to BH Properties president Steve Gozini. The property offers some of the largest blocks of contiguous space available in Austin and can be occupied by a single user or multiple tenants.

The buildings were built between 1991 and 1998. One of the buildings, comprised of about 93,000 square feet, was used by the sporting goods equipment retailer as a combination of office and retail space while three of the buildings, about 239,000 square feet, were used for manufacturing and distribution facilities.

“This is an excellent opportunity for us to reposition quality real estate in a thriving market and great location. Just as we were successful in repositioning the Radio Shack distribution portfolio in Fort Worth, we are highly confident that we'll find a receptive leasing market for these buildings. We're very excited to finally be able to break into the Austin market,” BH Properties' chief acquisitions officer Andrew Van Tuyle tells GlobeSt.com.

The Golfsmith property is centrally located between San Antonio and Dallas, and fronts Interstate 35 just south of the Braker Lane exit near US Route 183. The rapidly growing Northwest office market is home to major employers such as Dell, Emerson, General Motors and Samsung.

Golfsmith filed for Chapter 11 bankruptcy protection in September last year and subsequently entered into a sale agreement for its retail operations with a joint venture of Dick's Sporting Goods and a team of liquidators that will run going out of business sales at some US and Canadian locations, while keeping others running as going concerns.

Golfsmith International was represented by Michael Jerbich of A&G Realty Partners. BH Properties represented itself.

In 2015, BH Properties purchased approximately 1.8 million square feet of industrial buildings in a bankruptcy sale by Radio Shack in Fort Worth, paying $39.2 million for the five properties and land assets. The firm has subsequently sold or leased the majority of the space and is actively pursuing similar opportunities.

In addition to value-add acquisitions, BH Properties is also in the market to buy long-term ground leases and leased fee positions. In October of last year, BH Properties acquired a portfolio of leased fee positions under three New York City hotels from Lexington Realty Trust for $338.2 million.