Valor Capital Partners and Congress Holdings Group have acquired the 60,485-square-foot office building at 9101 Burnet Rd. Austin TX, formerly known as The Continental Building, and the 63,825-square-foot office building addressed at 12710 Research Blvd. known as the Briarcroft Building. Both buildings were fully leased at the time of sale.
Prior to closing, the seller made upgrades to both the buildings including renovating the lobbies and restrooms, installing new LED lights and recessed sprinkler heads and replacing carpets and the roof of 9101 Burnet Rd. Improvements also include better HVAC efficiency, elevator modernization and a new energy management system. Upgrades to The Briarcroft Building and The Continental Building were completed in 2001 and 2006, respectively. Both buildings were constructed in 1984.
Walter Saad, Cathy Nabours and Logan Reichle of CBRE represented the seller, OakPoint Properties and Haverwood Management, in the sale. The buyer, Valor Capital Partners and Congress Holdings Group, represented themselves. ECR will handle the leasing for the offices.
OakPoint Properties and Haverwood Management Sell the Former Continental Building and Briarcroft Building Totaling 124,310 SF
By Riley Sullivan