S. Austin Office Flips After Getting Multiple Offers

AUSTIN—The office building 2550 S. IH-35, a 16,200-square-foot property in South Austin, has been repositioned and sold after receiving multiple offers.

Commercial real estate firm ECR was hired in 2011 by the building’s ownership to provide leasing services and reposition the asset.

“2550 S. IH-35 has come a long way since it was fully vacated by the previous ownership,” Jason Steinberg, senior brokerage advisor, told GlobeSt.com. “The seller completed a significant renovation in 2011 and our team quickly leased up the building to 100 percent. The ownership was very pleased with the amount of interest our team generated for this off-market purchase opportunity. After receiving several offers, we focused on one buyer who was able to close quickly and it was a great deal for our client and the new building ownership.” [GlobeSt]

 

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