5508 Parkcrest Sells to F&B Capital

F&B Capital acquired 5508 Parkcrest, a 40,798-square-foot, multitenant office building in Austin. The local buyer struck a deal with seller Bancroft Family for the asset, which sold for an undisclosed price. Travis County assessed the property at $6.7 million. The property’s tenant mix includes healthcare and professional services.

The HFF Austin team, led by Walter Saad and Drew Fuller, brokered the transaction. Saad indicated that the building is well situated in the Northwest Austin submarket, which reports a 92% occupancy rate for office product. “With rental rates on the rise, we have seen more office tenants seeking to purchase and own their own office buildings along Mopac in the Central, Northwest and Southwest (Austin) submarkets,” Saad indicated.

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