AUSTIN, Texas – February 9, 2016 – CBRE Capital Markets’ Investment Properties announces the sale of Arbor Square, a 50,836-square-foot, multi-tenant office park in Austin, Texas. Los Angeles-based Entrada Partners purchased the asset from California-based AMC Investments for an undisclosed price.
Arbor Square I & II consists of two, storefront-style office buildings, ideal for professional office and service-oriented tenants. Arbor Square is located at 12885 Research Boulevard, 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, Principle, Entrada Partners.
The Class B asset was developed in 1984 and renovated in 2007. It was 90.2 percent occupied at closing.
“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,” said Walter Saad, First Vice President, CBRE.
“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 Cathy Nabours, First Vice President, CBRE.