HPI Unloads 251K-SF Class A Office Building

HPI Real Estate Services and Investments and its global real estate investment manager ended its hold on 3900 San Clemente, a 251,142-square-foot, Class A office building in Austin. HFF marketed the property on behalf of the seller, secured the four-year, floating-rate acquisition financing, and procured the buyer, Menlo Equities.

The sales price was undisclosed, with the property assessed at $77.6 million.

3900 San Clemente, which delivered in 2008, is situated on 9.9 acres at 3900 N. Capital of Texas Hwy., northwest of downtown Austin. The property is 91% leased, with Samsung, VMWare and Maxim Integrated as anchor tenants. Amenities include a fitness facility, balconies, curbside food truck service and a connected parking garage.

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