120,000-SF linen facility sold on Smith Rd. in Austin

AUSTIN – The 120,350-sf complex at 1307 Smith Rd. has been sold in cash for $9.5 million. Gramercy Property Trust was the buyer.

The complex was constructed in 1986 on six acres in Austin’s East Industrial submarket. The linen company services the U.S. health care industry and will occupy the entire complex through October 2028 with fixed rent escalations throughout the lease term.

Garrison Investment Group was the seller. According to Real Capital Analytics, the facility listed as Texas Linen.

Sources: CoStar Group, Real Capital Analytics Inc. and the Garrison Group.