Texas CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
PlaceMKR Acquires Flex Portfolio in Southeast Austin
PlaceMKR acquired a 145,000-square-foot flex industrial portfolio along SH-71 in southeast Austin. The property is 100% occupied with a mix of local tenants.
“We identified this real estate portfolio because of its high concentration of local businesses that support the Austin economy,” said Christopher Cortese, principal of PlaceMKR. “While the fabric of southeast Austin has been historically used for industrial purposes, we believe there are several factors that will shape a mixed-use narrative going forward, including Tesla’s announcement of their plans to build the Cybertruck Gigafactory and the advent of the Austin Transit Partnership which can profoundly impact the accessibility of the submarket.”
The acquisition was originally set to close in March but was delayed due to the COVID-19 pandemic. On its Instagram feed, PlaceMKR thanked LaSalle Investment Management and NKF for their assistance, along with Walker & Dunlop for helping secure the debt “in a challenging financing environment.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
