December 19, 2019
Mohr Capital shook hands with Zydeco Development to acquire a 404,800-square-foot office and industrial portfolio in Austin. The Dallas buyer paid $100 million to the Austin seller, and now owns a five-building portfolio in the mixed-use MetCenter on Metropolis Drive, with tenants including Amazon Inc. and Uber Advanced Technologies.
Boyd Messerman and Kyle Campbell represented Mohr Capital. JLL advised the seller in the transaction.
Messerman said the acquisition is ideal, given the availability of office and industrial space at a discount to downtown occupancy costs, and in-place infrastructure. “The Southeast Austin submarket is one of the most dynamic and fastest-growing markets in the country,” he added. “The portfolio is unique, given the above-market parking ratios, easy access to highways and its proximity to Austin-Bergstrom International Airport.”
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