Three-building 176,000-SF portfolio sold on ABIA groundsThree-building 176,000-SF portfolio sold on ABIA groundshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=40942014-05-29T12:49:00Z2014-05-29T07:00:00Z

AUSTIN - Origin Capital Partners has acquired a three-building, 176,060-sf industrial portfolio located on the grounds of Bergstrom International Airport.

The portfolio was originally developed in 1996. The acquisition was made in partnership with the Lynxs Group. At the time of closing, Origin and Lynxs were immediately able to bring up the occupancy from 82 percent to 96 percent.

The properties are home to numerous national and Fortune 100 companies, including FedEx, ESPN Productions, DHL and UPS. Simultaneous to the acquisition of the portfolio, Origin and Lynxs were able to secure a long-term renewal for the ground lease that now runs for more than 25 years.

The portfolio includes three of only five buildings in the area that offer direct access to the tarmac and airport runways.

GE Capital was the seller. Lynxs had developed the properties prior to selling the assets to GE Capital.

Online news
Austin-Round Rock
http://www.rejournals.com/2014/05/29/origin-capital-acquires-austin-airport-three-building-portfolio/Read more at {Source}

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