Anderson Office Fields Steady Inquiry Flow from Launching until Closing

A private partnership recently sold 1200 E. Anderson Ln., an 86,910-square-foot office building located in Northeast Austin to Baltimore-based Sentinel Net Lease. The price was undisclosed.

The asset is located near Interstate 35 and 183 Toll Road, a significant growth catalyst for the East and Northeast Austin submarkets. Completed in 2021, the 183 Toll provides an eight-mile connector to I-35 from the intersection of U.S. 290 and SH 71 near Austin Bergstrom International Airport.

Bradley Bailey and Logan Reichle with CBRE’s Central Texas investment properties team and Nate Stricklen with CBRE’s Austin office occupier team represented the seller in the transaction.

“Austin continues to see strong investor demand from across the country,” said Reichle. “Through our marketing process, we received several offers from opportunistic buyers. Interest never ceased, with a steady flow of inquiries from the time we launched to market until closing.”

A short-term lease to a state entity provided in-place cashflow and time to implement a repositioning plan for the asset at the time of sale. It is the buyer’s first value-add property acquisition in Austin.

“1200 E. Anderson is a bold step for the future of Sentinel as we expand the firm’s capabilities to include development and construction,” said Dennis Cisterna, Sentinel’s chief investment officer. “This property’s attractive acquisition price, coupled with its stellar location in Austin, should make this an exceptional investment.”