AUSTIN, TX – February 25, 2019 – HFF announces that it has closed the sale of 3208 Red River Street, a three-story office and R&D building totaling 20,762 square feet in Austin, Texas.
HFF marketed the property on behalf of the seller, Drawbridge Realty. A private real estate trust purchased the asset.
Drawbridge Realty acquired the property in 2013 and performed a complete redevelopment, which included new common areas and taking the building back to shell condition. The company then leased the building to Xeris Pharmaceutical and the YMCA, serving as a headquarters location for both. The property is in the Central Austin Office submarket just north of downtown Austin and adjacent to St. David’s Medical Center, which is the third-largest private employer in the Austin area. Additionally, the property is positioned one block from Interstate 35 and has exceptional accessibility to Austin’s most heavily traveled thoroughfares, including U.S. Routes 183 and 290, State Highway 71 and Airport and Lamar Boulevards.
The HFF investment advisory team representing the seller included managing directors Walter Saad and Cathy Nabours and director Drew Fuller. Avison Young represented the buyer in the transaction.
About Drawbridge Realty
Drawbridge Realty is a private real estate trust headquartered in San Francisco, California, with asset management, property management, development, acquisition and leasing expertise. drawbridgerealty.com
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.
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HFF Managing Director
HFF Managing Director
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