Office

3700 San Clemente

3700 N Capital of Texas Hwy, Austin, TX, 78746-3453, US

Executive Summarydownload
3700 San Clemente_Property for Sale

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Asset description

Jones Lang LaSalle (“JLL”) has been exclusively retained to offer qualified investors the opportunity to purchase 3700 San Clemente (the “Property”), a premier asset in Southwest Austin prominently located in the vibrant southwest submarket at the intersection of Capital of Texas Highway (Loop 360) and Westlake Drive. The five-story, 249,872 square foot, Class A office asset presents a value-add opportunity to investors with 45% of the Property vacating in by November 2022 resulting in an occupancy level of 51% as of December 2022. This provides a new owner an opportunity to increase value in a market that has seen 6.4% average annual rental rate growth since 2013. The remaining tenancy represents a diversified rent roll of local, national, and global companies. The building was constructed in 2015 and boasts 50,000 square foot floorplates and best in class onsite and walkable amenities, positioning the asset at the top of the Loop 360 market. It's setting amid Austin’s scenic Hill Country is less than a mile south of Lake Austin and Austin Country Club offering exceptional access to the affluent West Austin residential areas, including West Lake Hills, Rob Roy and Barton Creek. Its location affords the Property outstanding views and is an attractive location for investors given the strong historical performance of the submarket and the significant barriers to entry that exist as a result of its location in a protected, environmentally sensitive area.

Attributes

Building area Net
249,872 sf
Occupancy
51.00%
Year built
2015
Land area Net
8.00 acres (348,480 sf)

Investment highlights

  • IN-PLACE CASH FLOW – LEASE TO CORE OPPORTUNITY
  • INSTITUTIONAL QUALITY ASSET
  • PREMIER LOCATION WITH WALKABLE AMENITIES
  • SUPERIOR SOUTHWEST OFFICE MARKET

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Last updated
Aug 11, 2022