August 5, 2016
Clarion Partners, headquartered in New York City, is under contract to buy all the commercial space in the mixed-use Seaholm project in downtown Austin, TX. The seller is developer Seaholm LLC, a partnership between Southwest Strategies Group in Austin and Los Angeles-based CIM Group. Newmark Grubb Knight Frank’s capital markets team and CBRE are brokering the sale of Seaholm’s office, retail and restaurant space.
The commercial space within the 7.8-acre site hit the market in March. The offering includes a 99-year lease on the renovated Seaholm power plant building, which has more than 100,000 square feet of office space. Another building is occupied by Under Armour and Trader Joe’s. Also included in the sale are office and retail space on the first two floors of the Seaholm Residences condo tower.
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