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CBRE NEGOTIATES GROUND LEASE FOR WELLS FARGO BANK IN AUSTIN

Posted on by in Retail, Texas

AUSTIN — CBRE Capital Markets has arranged the sale of an .87-acre Austin retail parcel with a long-term ground lease to Wells Fargo Bank. A private investor from Wyoming purchased the building located at 1145 Airport Blvd. near the 711-acre Mueller redevelopment. Walter Saad, Cathy Nabours and Logan Reichle of CBRE represented the seller, an Austin-based private investment partnership. The property is 100 percent occupied with 13 years remaining on a 20-year ground lease. Wells Fargo renovated the building in 2007.

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