Commercial property portfolio in Austin sold to CIM Group

CIM Group acquires commercial property portfolio in Austin

CIM Group has acquired a 270,000-square-foot commercial property portfolio in Austin, consisting of two office buildings located at 618 Tillery Street and 507 Calles Street, and a warehouse building located at 1300 E. 5th Street in the growing Eastside submarket.

618 Tillery Street, a Class A creative office building currently under construction, will feature large floor plates, allowing for flexible space design, floor-to-ceiling glass walls for ample natural light and tall ceilings.

The commercial property in Austin is designed with an expansive atrium and landscaped courtyard, dedicated tenant lobbies, and abundant parking. Located just off East 7th Street, a main thoroughfare, the property is within a short drive to both Austin’s Central Business District and South Congress submarkets and offers convenient access to mass transit and biking options including a local bus stop and a docking station for Austin’s bike-sharing system.

READ ALSO : CIM Group acquires Class A office building in downtown Austin

Also located just off East 7th Street and convenient to transportation options to access downtown and the surrounding Austin communities, 507 Calles Street, a former industrial warehouse built in 1940, was recently converted into a creative office building. The building is leased by creative office tenants, with a portion occupied by a brewery and tasting room. The property also includes a one-acre surface parking lot.