Office

Hartland Plaza

1717 W 6th St, Austin, TX, 78703-4773, US

Executive Summarydownload
Hartland Plaza_Property for Sale

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Hartland Plaza 2_Property for Sale

Asset description

Jones Lang LaSalle (“JLL”) has been exclusively retained by the Owner to offer qualified investors the opportunity to purchase a fee simple interest in Hartland Plaza (the “Property”), a 95% leased four-story, 184,128-square foot Class A office asset ideally located in Austin’s urban core at the intersection of West 6th St. and MoPac, providing direct access to Downtown Austin via West 5th St. and broader connectivity via MoPac. Hartland Plaza is in the heart of Austin’s Urban Core, ideally situated between the affluent neighborhoods in West Austin and Downtown and within walking distance of over 15 bars and restaurants. The Property’s micromarket is exceptionally tight, with a 95% occupancy rate, contributing to base rents that eclipse $46 PSF NNN. With 4.4 years of remaining lease term to a diverse rent roll of tenants and in-place rents 14% below market, Hartland Plaza represents a rare Core Plus investment opportunity within the nation-leading Austin real estate market.

Attributes

Building area Net
184,128 sf
Occupancy
95.00%
Year built
1985
Land area Net
3.39 acres (147,668 sf)

Investment highlights

  • Diversified in-place cash flow with 12% average annual rollover
  • Mark-to-market opportunity with rents 14% below market
  • Prime urban core location west of Downtown Austin with walkable amenities
  • Superior office performance in Austin's Urban Core with over 14% rent growth since 2020
Hartland Plaza 4_Property for Sale
Hartland Plaza 4_Property for Sale

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Last updated
Sep 30, 2022