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Covenant Management Systems Leases 9757 SF Office Space In Austin

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LEASED

Texas

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Office9,757 SF
Leased 02/13/2020
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LEASED

Covenant Management Systems Leases 9757 SF Office Space In Austin

6818 Austin Center BLVD, Austin, TX...

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Office9,757 SF
Leased 02/13/2020
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Summary

TEXAS
Asset Type:Office
Price Per Square Foot:$0
Total Square Footage:9,757 SF
Transaction Type:Lease

The RMR Group has signed a new, 10-year lease with Covenant Management Systems for 9,557 square feet at Austin Surgical Plaza, a 78,789-square-foot Class A medical office building in Austin, Texas located at 6818 Austin Center Blvd. Covenant’s affiliated Austin Regional Clinic will open a specialty office in the space. The property, built in 1994, is situated on 6 acres and is home to Northwest Hills Surgical Hospital, ARA Diagnostic Imaging, Central Texas Spine Institute, and Plastic Surgery Center of Austin. The building is 7 miles from downtown Austin and is in close proximity to the MoPac Expressway, offering various shopping and dining options within walking distance.

Summary of transation details:

The Transwestern team representing the landlord, Diversified Healthcare Trust, included Vice President Will Stewart and Associate Marshall Thurmond. On behalf of the tenant, Covenant Management Systems, George Baldwin of Peckar & Abramson facilitated the deal. Additionally, in January, The RMR Group, in collaboration with Office Properties Income Trust, secured two 10-year, full-building leases with government agencies in Boise, Idaho, covering more than 150,000 square feet of office space.

Players

William Stewart Smith
1 deal(713) 850-8400
BROKER

Details

LEASED
IMAGE: 02/13/2020 ADDRESS: 6818 Austin Center BLVD, Austin, TX... MARKET: Austin ASSET TYPE: Office LANDLORD'S REP: Marshall Thurmond(Transwestern), William Stewart Smith(Fuller Realty Interests) TENANT: Covenant Management Systems LANDLORD: Diversified Healthcare Tr... Landlord SQUARE FEET: 9757

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Deal Type
Effective Rent (Annual)

$559,265.35

Total Lease Value

$5,592,653.52

Net Landlord Cash Flow$559,265.35