California Investor Snaps Up 7-Building Industrial Portfolio In Austin, Hints At More Acquisitions
California-based St. Clair Commercial Realty purchased seven industrial/flex buildings on Techni Center Drive near US-183. The portfolio (above, one property) totaling 211k SF will be rebranded as Techni Center Business Park and undergo interior and exterior renovations.
SCCR is bullish on the Austin market and principal Greg St. Clair said the investment company looks forward to further acquisitions in the area. SCCR is also expanding its Texas footprint with acquisitions in Dallas and San Antonio.
Unit size for the buildings range from 3,600 SF to 36k SF with dock high and ground-level loading and excess parking. Each building is on a separate parcel.
ECR’s Ryan Wilson and Matt Fain procured the off-market acquisition. Wilson and Fain have been retained for leasing, and Live Oak will manage the properties. Ledo Capital Group sourced equity. Wells Fargo provided debt.