CBRE Capital Markets Brokers Sale of Office Property in Austin

AUSTIN, TEXAS — CBRE Capital Markets has brokered the sale of Donley Plaza, a 69,547-square-foot office asset in Austin. Nashville-based OakPoint Real Estate and local partner Haverwood Management purchased the asset from a California-based partnership. Donley Plaza marks the fifth office acquisition in Austin for the OakPoint/Haverwood duo. Donley Plaza, located at 2201 Donley Drive in north-central Austin, was 65 percent occupied at the time of closing. The building was constructed in 1983 and renovated in 2013. The buyer has an opportunity to lease one full floor of the building in a location just east of the Domain, a mixed-use community. OakPoint and Haverwood are partnering with a local architecture firm to redevelop Donley Plaza for creative and tech-oriented users. Additionally, the new ownership group is in the early planning stages for a build-to-suit on the adjacent vacant site, which is being marketing to large corporate users seeking value office space in and around the North Austin/Domain submarket.