The Austin property at 818 E. 7th St. is currently leased by Premium Parking.
AUSTIN, TX—Rastegar Property Company recently acquired two properties near the intersection of East 7th Street and Interstate 35. 902 E. 7th St. is currently occupied by an 860-square-foot building, which will be leased as a flexible rental through second quarter 2020 before being converted to meet the area's growing demand for creative office space.
The nearby property at 818 E. 7th St. is currently leased by Premium Parking. It provides parking spaces for bars, restaurants and retail in downtown and central east Austin. Rastegar plans to acquire and parcel neighboring properties to open the door to retail and multifamily spaces because the lot proximity provides flexibility for future development.
East Austin is home to historic buildings and museums, offices, bars, restaurants, shops and services as well as Huston-Tillotson University and the Boggy Creek Greenbelt.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
