Lavaca Plaza_Property for Sale
Lavaca Plaza_Property for Sale
504 Lavaca St, Austin, TX, 78701-2900, US

Lavaca Plaza

Asset Description

Jones Lang LaSalle ("JLL") is pleased to off er qualifi ed investors the opportunity to purchase Lavaca Plaza (the "Property"), a Class A office asset in the heart of Austin's CBD. Located at 5th and Lavaca, the Property sits at the epicenter of Austin’s dynamic Downtown, making it one of the most walkable and highly-amenitized office assets in the Austin market. The immediate surrounding area is home to over 2 million square feet of retail, 6,700 hotel keys, and 4,300 residential units. The 11-story building measures 122,042 rentable square feet and is 85% leased to a strong credit tenant roster with 37% leased to government agencies and 51% leased to WP Engine. The Property also boasts one of the highest parking ratios of any Downtown building (4.3/1,000), generating stable supplemental income through tenant, monthly contract and transient parkers. Given Lavaca Plaza’s premier location and a weighted average lease term of 1.9 years, the Property offers investors an attractive future redevelopment opportunity while retaining current cash flows.

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Attributes

Building area net
122,042 sf
Occupancy
84.7%
Year built
1981
Land area net
0.82 acres
Building class
A
WALT
1.9 years

Media

Investment Highlights

·        Premier CBD Location

·        99 Walk Score

·        85% Leased

·        Opportunity To Immediately Increase Revenues By $685k

·        Highest Parking Ratio Within 2 Block Radius

·        $2.4M Gross Parking Revenue In 2023

·        Future Redevelopment Opportunity Of Up To 882,090 SF

Lavaca Plaza 4_Property for Sale
Lavaca Plaza 4_Property for Sale

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Lavaca Plaza (0 Properties)

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Last updated
5 Sep 2024