JLL Capital Markets has closed the sale of and arranged the acquisition financing for Hartland Plaza, a 184,128-square-foot, Class A office asset located in the prime urban core of Austin, Texas.
JLL represented the seller, CIM Group. Additionally, JLL worked on behalf of the buyer to arrange acquisition financing for the transaction.
Built in 1984 and renovated in 2004 and 2017, the four-story Hartland Plaza is 92% leased with 4.4 years of WALT. The building is occupied by a diverse mix of 35 tenants that span 14 different sectors. Notable tenants include AQUILA, Zello, Rev, Munsch Hardt Kopft & Harr and Discovery Practice Management. The property includes a total of 633 parking spaces, which offers a ratio of 3.47 spaces per 1,000 square feet.
Situated at 1717 W. 6th St., Hartland Plaza sits at the intersection of West 5th and 6th Streets and MoPac (180,000 VPD), allowing convenient access to both the affluent neighborhoods of West Austin, including Tarrytown, Rollingwood and West Lake Hills, and Downtown Austin. It is within walking distance to over 15 bars and restaurants, Lady Bird Lake, the Roy and Ann Butler Hike and Bike and more first-class amenities. Additionally, Zilker Park, the University of Texas at Austin, Rainey Street and SOCO District are all within a 10-minute drive.