February 22, 2017
St. Clair Commercial Realty (SCCR) acquired seven industrial buildings on Techni Center Drive, totaling 211,000 square feet on Austin’s east side. The off-market transaction between the buyer and seller Industry Capital Advisors was negotiated by ECR’s Ryan Wilson and Matt Fain.
Wilson and Fain have also been retained to handle leasing activities. Live Oak will be the property manager. Equity for the transaction was sourced by Ledo Capital Group, with debt provided by Wells Fargo Bank.
The sales price was not disclosed. SCCR is rebranding the park as the “Techni Center Business Park,” and is underway with significant interior and exterior renovations. “We are bullish on Austin, and look forward to further acquisitions that will extend my over 11 years of doing business in Austin,” said Greg St. Clair, who heads up SCCR. “SCCR is also actively purchasing properties in Dallas and San Antonio, and has an expanding footprint in Texas.”
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