September 14, 2016
New York-based Clarion Partners acquired the former Seaholm Power Plant building in Austin, TX from Seaholm Power LLC in a deal industry sources peg at $125 million. The iconic 209,176-square-foot mixed-use asset, which completed a creative office conversion last year, is anchored by Watertown, MA-based Athenahealth.
The four-story decommissioned power plant was built in the 1950s, and since undergoing revitalization has emerged as a focal point of the Seaholm District in downtown Austin. Seaholm Power LLC consists of: a JV comprised of principals from Southwest Strategies Group, Centro Development, State Street Properties, La Corsha Hospitality, and Capital Project Management.
In addition to Athenahealth’s 103,000 square feet of office, research, and development operations, the site includes nearly 40,000 square feet of ground-floor restaurant space, and three acres of open space.
NGKF’s Kevin Shannon and Ken White handled the sale, with local assistance from CBRE’s Todd Mills. Connect Media initially reported the deal was in the works last month.
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