Real Estate Roundup:Endeavor unloads large storage portfolio
Here is a roundup of deals and announcements in the Austinarea real estate market recently that weren’t included in other Austin Business Journal real estate online coverage.
Extra Space Storage (NYSE: EXR) purchased a threeproperty selfstorage portfolio in Austin. The deal includes 1,919 units, which cover about 210,084 square feet. Steve Mellon and Brian Somoza of JLL in Houston and Los Angeles represented the seller, Austinbased Endeavor Real Estate Group. The price was not disclosed, but most recent appraised values are available through the Travis Central Appraisal District. The first property at 9300 Brodie Lane was built in 2011 and is currently valued at $5.5 million. The second property at 2631 S. Capital of Texas Highway was built in 2013 and is valued at $7.85 million. The third property at 9215 S. First St. was built in 2014 and is valued at $4.5 million, records show. Extra Space has an existing portfolio of 750,000 units in 35 states. It’s headquartered in Salt Lake City.
An unidentified California investor purchased University Business Center and two flex commercial buildings at Promontory Point in Austin. The 114,910squarefoot University Business Center, which includes five buildings, is located at 3019 Alvin Devane Blvd in Southeast Austin. The properties at Promontory Point encompass 50,000 square feet at 2621 Ridgepoint Drive. The sellers were not disclosed. St. Croix Capital Realty Advisors LLC represented the buyers, who also purchased an office building in Midland, Texas. Total value, according to Ken Satterlee of St. Croix, was $60 million.
Mach 1 Global Services Inc. leased 20,132 square feet at Northpointe Trade Center, 2251 Picadilly Drive. Ryan Wilson with ECR represented the landlord.
Teacher Heaven leased 11,125 square feet in Barrington Oaks, 8650 Spicewood Springs Road. Matt Epple and Jeff Lewis with The Weitzman Group represented the landlord, and WPW Management Corp. represented the tenant.
An unidentified corporate event operator leased 4,650 square feet at Biz Park 290W, 11190 Circle Drive. Andrew Perkel of Retail Solutions represented the landlord.
VUV Analytics leased 3,000 square feet at Discovery Business Park, 715 Discovery Road in Cedar Park. Thomas Heaton of Thomas C. Heaton Co. represented the landlord, and John Scoblick and Alecia Burdick with KMD Studley represented the tenant.
The Business Success Center leased 1,335 square feet at the Chase Northcross building, 7600 Burnet Road. Jason Steinberg and Rebecca Zigterman with ECR represented the landlord, and Chad Jewell with Austin Office Space represented the tenant.
The Grand Barbershop leased 1,052 square feet at The Triangle where North Lamar Boulevard and Guadalupe Street converge in North Austin. Britt Morrison, Matt Epple and Gabriel Sanchez with The Weitzman Group represented the landlord, and Matthew Pipkin with Pipkin Investments represented the tenant.
Legends, a barbershop, leased 894 square feet at Towne Square, 1901 W. William Cannon Drive. Joey Mendez and Preston Wolfe of Retail Solutions represented the landlord, and Adolfo Loera of N. Brown Realtors represented the tenant.
Satis Hair Salon leased 822 square feet at Bell Street Shopping Center, 251 N. Bell Blvd. in Cedar Park. Fred Wendland of Retail Solutions and Tami Greenberg of Office Solutions represented the landlord.
Read about other recent deals here, including information on the sale of a large shopping center.
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Jan Buchholz covers commercial and residential real estate, construction and architecture and retail and restaurants for the Austin Business Journal.