March 10, 2020
Rastegar Property Co. acquired two properties on 7th Street in East Austin. The local buyer snagged 902 E. 7th St., which currently holds an 860-square-foot building to be be leased as a flexible rental through Q2 2020, before being converted to creative office space. Also acquired was 818 E. 7th St., a surface parking lot, leased by Premium Parking.
East 7th Properties LLC sold both properties. The LLC was traced to World Class Property Co. of Austin, which had acquired the assets in March 2019.
Rastegar is planning to acquire and parcel neighboring properties. Assembling a larger lot could lead to development of retail space and multifamily units.
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