KBS Realty Advisors Sells SouthTech Business Center Industrial Property In Austin To MIG Real Estate | 2101 East Saint Elmo Road | Lance Young, Charlie (Charles) Strauss, Trent Agnew, Brooke Petzold | Industrial | Sale

Summary

Sale

TEXAS

Industrial

260,112 sqft

The SouthTech Business Center, a 260,112 square-foot Class A light industrial property located at 2101 East Saint Elmo Road in Austin, Texas, has been successfully sold by Gio Cordoves of KBS Realty Advisors to a 1031 investor represented by MIG Real Estate. With a 93% lease rate and a track record of strong occupancy, the property offers immediate value-creation potential by leasing the remaining 7% of space and aligning rents with market rates.

Summary of transaction details:

Property Type: Industrial
Transaction Amount: Not specified
Date: 04/23/2024
Market: Austin
Seller: Gio Cordoves - KBS Realty Advisors
Buyer's Rep: MIG Real Estate
Seller's Rep: Brooke Petzold, Charlie Strauss, Lance Young & Trent Agnew - JLL

JLL brokers Trent Agnew, Charles Strauss, Lance Young, and Brooke Petzold played a pivotal role in facilitating the transaction on behalf of KBS for the sale of the SouthTech Business Center. The partnership between the sellers and the buyer's representative, MIG Real Estate, underscores the collaborative effort behind the successful deal.

Players

All
5

Agents
4
Agencies
1

Lance Young

Investment Advisory Analyst

Charlie (Charles) Strauss

Director, Capital Markets

Trent Agnew

Managing Director, Industrial Group Leader

Brooke Petzold

Analyst

JLL

Details

Deal Summary

SOLD

IMAGE: Gio Cordoves, Brooke Petzold, Charlie Strauss, Lance Young & Trent Agnew DATE: 04/23/2024 ADDRESS: 2101 East Saint Elmo Road MARKET: Austin ASSET TYPE: Industrial ~ SF: 260,112 SELLER: Gio Cordoves - KBS Realty Advisors (@KBS_CRE) BUYER'S REP: MIG Real Estate SELLER'S REP: Brooke Petzold (@Brooke_Petzold), Charlie Strauss (@Swordfish_Strauss15), Lance Young (@Everybody_Lance_now) & Trent Agnew - JLL (@JLL) NOTE: KBS has successfully sold the SouthTech Business Center, a 260,112 square-foot Class A light industrial property in Austin, Texas, to a 1031 investor represented by MIG Real Estate. With a 93% lease rate and a track record of strong occupancy, the property offers immediate value-creation potential by leasing the remaining 7% of space and aligning rents with market rates, as highlighted by KBS's Gio Cordoves. JLL brokers Trent Agnew, Charles Strauss, Lance Young, and Brooke Petzold facilitated the transaction on behalf of KBS.

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Address2101 East Saint Elmo Road

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