Thursday, July 18, 2013

$35.3 million acquisition financing for single-tenant office building in Austin, TX secured by HFF


717 East Palmer Lane, Austin, TX

DALLAS, TX – HFF announced today that it has arranged $35.3 million in acquisition financing for a 320,000-square-foot, Class A single-tenant office building in Austin, Texas.

Mark West
                HFF worked exclusively on behalf of the borrower, Gladstone Commercial Corporation (NASDAQ: GOOD), to secure a non-recourse, fixed-rate securitized loan through Cantor Fitzgerald. 

Located at 717 East Parmer Lane at the intersection of Tech Ridge Boulevard in north Austin, the property is 100 percent leased to a wholly-owned subsidiary of a Fortune 500 company.  Situated on 23 acres, the property was completed in 2000 and is located within the Tech Ridge Business Park, a 1,000-acre multi-use business park development.             

                The HFF team representing Gladstone was led by director Brandon Chavoya and also included senior managing director Mark West, director Coler Yoakam and associate director Robert Wooten.

Robert Wooten
Gladstone Commercial Corporation (NASDAQ:GOOD) is a real estate investment trust (REIT) that invests in and owns net-leased industrial, commercial and retail property.

 The company currently owns a national portfolio consisting of approximately seven million square feet. 

  For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com


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