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Maryland firm on 60,000-SF Westlake Place in AustinMaryland firm on 60,000-SF Westlake Place in Austinhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=104552015-09-01T05:00:00Z2015-09-01T14:00:00Z

​​​​​AUSTIN - Westlake Place — a 60,338-sf, multi-tenant office building  — has been acquired by Maryland-based Moore & Associates from a California-based partnership, according to CBRE.

Westlake Place is a five-story building located at 1515 South Capital of Texas Hwy., in the southwest Austin submarket.

Though no purchase price was disclosed, Travis Central Appraisal District​ values the building at almost $11.3 million, according to the Austin Business Journa​l.

The Class B asset is 94.2 percent occupied and prominent tenants include Sotera Defense Solutions Inc, Frontier & Associates and Vertex Software Corp.

According to CBRE Research, citywide Austin office vacancy was 11.9 percent at the end of Q2 2015 — the tightest among all major Texas metros, reports RealtyNewsReport.com​.​​

Specifically, Class B office buildings in Southwest Austin are performing well, recording the highest absorption (49,411 sf) and lowest vacancy rate (7.4 percent) among all Class B product citywide for the second quarter.​

GlobeSt.com
Austin-Round Rock
Office
http://www.bizjournals.com/austin/blog/real-estate/2015/08/westlake-office-building-sold-to-maryland-investor.html

​For​ Office quarterly reports see Austin-Round Rock Market Research.

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