Provident Realty Snags Opportunity Zone-Based Office

Provident Realty Advisors bought a 78,000-square-foot, Class B office building at Interstate 35 and State Highway 183, six miles north of downtown Austin. The buy was part of Provident’s National Opportunity Zone Program initiative, which offers federal tax benefits for investors in specially designated areas. The seller was listed as Citizens Insurance Co. of America.

The new owner is planning extensive capital improvements to the building at 400 E. Anderson Lane, including updated interiors, open floor plans, LED lighting, polished concrete flooring and fiber-based internet. Additionally, the building is being repositioned as Anderson Tower.

Provident selected JLL to lead property management and leasing efforts for the property. Sam Shannon will oversee management, while Kevin Kimbrough will head up marketing and leasing efforts.

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