February 14, 2019
Thor Equities made its first buy in Austin, acquiring 1005 East Saint Elmo Road in Austin’s South Congress (SoCo) area for $16 million. The New York City investor snagged the 60,000-square-foot creative office campus from Whiddon Development Inc.
The building delivered in 2017, and is occupied by a list of local tenants including Saatva, Skull Mechanix, Fuse Architecture Studio and Ignite Fitnez. “We are pleased to acquire our first asset in the South Congress area of Austin, which is continuing to attract creative tenants looking to grow in a thriving live-work-play environment,” said Thor Equities Joseph Sitt.
The seller acquired the property in 2014; at the time, consisting of a 14,000-square-foot building on more than four acres. During its approximately five-year hold, the Kingsland, TX developer built out the property to its current status.
Pictured: Austin’s SoCo
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