Property Type: 3 Building Suburban Class B Office Park

Address: 8501 North MoPac Expressway, Austin, TX
Size: 123,000 SF
Acquisition Date: 10/2012
Disposition Date: 12/2014
Return Multiple: 1.9x
Occupancy – Going In: 64%
Occupancy – Current: 91%

Total Cap Ex: $623K

Business Plan
Execute a moderate, but strategic, renovation and repositioning; including lobby, common corridors, restrooms and extensive landscaping enhancements. Following aesthetic repositioning, aggressively market the asset to the local tenant brokerage community to significantly increase a below market occupancy.

Results
Successfully repositioned the asset, renewed the asset’s largest tenant, and dramatically increased occupancy by 27%. Business plan and disposition was executed within 26 months of acquisition and sold for a significant gain.

View Next Property 

RETURN TO HOME PAGE