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| Champion Office Park, 6433 Champion Grandview Way, Austin, TX (Photo by David Cox) |
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| Henry Bullock |
DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF)
announced it has closed the sale of Champion
Office Park, a recently-completed, Class AA office park totaling 221,136
square feet in Austin, Texas.
HFF marketed the property
on behalf of the seller, Endeavor Real Estate Group and Granite Properties,
Inc., and procured the buyer, Menlo Equities, who acquired the fully leased
property for its recently-launched fund, Menlo Equities Absolute Return Fund.
This is the first
acquisition in Austin for the $450 million, open-end evergreen fund, which is
actively seeking to invest in similar stabilized assets leased long term to
investment-grade-rated tenants.
Completed in 2016, the
LEED Gold certified Champion Office Park consists of two office buildings
designed by world-renowned architectural firm, Overland Partners.
The office development features
floor-to-ceiling glass, limestone facades, a vine-clad parking garage and a
tree-lined pedestrian plaza. Indeed,
Inc. occupies 90 percent of the space with the remaining 10 percent leased to
Jobs2Careers.
Champion Office Park is
located at 6433 Champion Grandview Way on a 28-acre, cliff side site
overlooking Bull Creek and the Edwards Aquifer nature reserves in the Loop 360
Corridor of northwest Austin.
This location, at the
intersection of Capital of Texas Highway (Loop 360) and FM 2222, provides easy
access to Austin’s major roadways, including MoPac Expressway, US Highway 183,
Bees Cave Road, Highway 71 and RM 620.
Additionally, the property is close to
numerous technology companies such as Apple, Google, IBM and Oracle that reside
in Northwest Austin and the Loop 360 market.
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| Rick Holmstrom |
Founded in 1994 by Henry Bullock and Rick Holmstrom and headquartered in Palo Alto,
California, Menlo Equities is a vertically integrated commercial real estate
company engaged in the acquisition, development and operation of properties in
select technology markets in the western United States.
Since its founding, Menlo Equities has
acquired or developed approximately $5 billion in assets comprising more than
100 separate transactions.
Menlo continues to be an active buyer and is seeking
additional acquisition opportunities for its Absolute Return Fund, with a focus
on extremely well located, Class A office properties, NNN-leased to credit
tenancy.
For a complete copy of the company’s news release,
please contact:
Kristen M. Murphy
Director, Marketing
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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