Austin Business Journal reports, "one of the biggest property owners in South Austin’s St. Elmo Arts District acquired a whole lot more real estate in the neighborhood in December.
Austin-based Veloway Threads — owners of The Yard and other properties where business such as Icon, Tesla, Still Austin and St. Elmo Brewing lease space — purchased eight properties within the district last month, said Priscilla Sauceda, vice president of operations and community at Veloway Threads. The area, which a few years ago was a sleepy industrial hub, has piqued the interest of many developers and is rapidly changing into a mixed-use destination.
The firm also purchased four other properties outside of St. Elmo, and all 12 properties together pushed Veloway’s total South Austin footprint to 1.75 million developable square feet and 500,000 square feet of existing flex creative warehouse space, Sauceda said. In addition to the December purchases, Veloway Threads also purchased six other properties in the St. Elmo Arts District over the past year, Sauceda said.
A purchase price for all the properties was not disclosed, and not all properties had an appraised value listed on Travis Central Appraisal District, though properties often sell for greater values than they are appraised at.
With these purchases, Veloway Threads now owns a huge bulk of the properties in the district, according to a map provided by the firm.
The St. Elmo properties purchased in December include 109 and 305 Industrial Boulevard, 4315 and 4319 Terry O Lane, 3615 and 4307 Willow Springs Road, 227 East St. Elmo Road and 820 Shelby Ave. The firm acquired seven other properties along Willow Springs Road, behind its popular The Yard property, at other points over the last year, Sauceda said.
The property seller was not disclosed. Twin Oaks Associates is listed as the previous owner on TCAD.
The bulk of the properties have been developed and have existing tenants, Sauceda said. The firm intends to invest in the properties to add curb appeal while maintaining “that original charm,” she said.
“We’re really big on adaptive reuse,” she said. “There’s no intent to demo any of those existing buildings and put a brand new commercial goods space on them. There’s a lot of good bones in the area … you could paint and upgrade the interiors, or HVAC system, things like that as needed. You want to do those but definitely want to keep this area feeling a little more raw.”
There’s a lot taking place in St. Elmo. In addition to hundreds of apartments rising on the western edge, the long-awaited St. Elmo Public Market is finally getting set to open under new ownership. Nashville- and New York-based Somera Roads purchased the never-opened property in November and it’s already been 100% leased by Pins Mechanical Co. and 16-Bit Bar+Arcade. Connecticut-based Leifer Properties is also planning to raise a large mixed-use development that would bring more than 1,000 new homes, retail and a brewery to the area.
Here are some other deals that recently hit our radar:
An undisclosed buyer purchased an 11,978-square-foot single-tenant ambulatory surgical center at 1891 Medical Parkway in San Marcos. Partners’ Ryan McCullough, Connor Watson and Jackson Heazel represented the seller, San Marcos Surgical Land LLC, in the transaction.
Cobb Fendley leased 22,239 square feet of office space at 9600 N. MoPac Expressway. Kristi Svec Simmons, Abby Alford, Tim Donohue and Lucian Bukowski of CBRE represented the tenant, and Jeff Henley and Jeffrey Henley Jr. of The Kucera Cos. represented the landlord.
The Other Ones Foundation leased 15,510 square feet at 5426 Guadalupe St. Alex Taghi, Austin Wills and Sean Wilson of Franklin Street worked on the deal.
The Bascom Group purchased a 53-unit student housing property near the University of Texas at Austin called Texan 26. It is located at 1009 W. 26th St. Tyler Marshall and Richard Waterhouse with Matthews Real Estate Investment Services represented the seller in the transaction. James D'Argenio and Chang Liu sourced and managed the acquisition for Bascom, an Irvine, Calif.-based private equity firm.
The Church of LDS leased 9,011 square feet at 11651 W. Parmer Lane in Cedar Park. Partners’ Kevin Murphy, Ryan McCullough, and Connor Watson represented the landlord in the transaction.
Appliances 4 Less leased 8,400 square feet at 2110 W. Slaughter Lane. Joey Mendez and Michael Noteboom of Resolut RE represented the landlord.
Babai's Mart leased 6,165 square feet at 1633 N. U.S. Highway 183 in Leander. Janice Landers and Davis Paone of Resolut RE represented the landlord.
North Austin Dentistry leased 4,976 square feet of office space at 6850 Austin Center Blvd. Jordan Drott of Carr represented the tenant, and David Stojanik and Graham Trull of The Kucera Cos. represented the landlord.
Kelly Legal Group PLLC subleased 4,006 square feet of office space at 1101 S. Capital of Texas Highway. Graham Trull of The Kucera Cos. represented the tenant, and Madeline Smith and Colton McCasland with JLL represented the landlord.
Austin DBT leased 3,700 square feet of office space at Stillhouse II, located at 4601 Spicewood Springs Road. Jim Sprinkle and Graham Trull of The Kucera Cos. represented the landlord.
Maddison Homes leased 3,640 square feet at 2213 Ranch Road 620 in Austin. Joey Mendez and Bryan Torres of Resolut RE represented the landlord.
CityVet leased 3,600 square feet at 2201 Airport Blvd. Thomas Allen and Macie Morris of Practice Real Estate Group represented the tenant, and Connor Lammert of Endeavor Real Estate Group represented the landlord.
Aspire Allergy leased 3,425 square feet at 401 West Slaughter Lane. Joey Mendez of Resolut RE represented the landlord. Marshall Thurmond of Transwestern represented the tenant.
ACT Global leased 3,134 square feet of office space at 4201 W. Parmer Lane. Matt Watson of Austin Office Space represented the tenant, and Jeff Henley and Jeffrey Henley Jr. of The Kucera Cos. represented the landlord.
Dolezal Kasling leased 2,540 square feet of office space at 5806 Mesa Drive. Jeff Henley and Jeffrey Henley Jr. of The Kucera Cos. represented the landlord.
MeowBark Veterinary Services leased 2,474 square feet at 9021 Goodnight Ranch Blvd. Macie Morris of Practice Real Estate Group represented the tenant, and Joey Mendez of Resolut RE represented the landlord.
DECA Dental leased 2,422 square feet at 196 W. Slaughter Lane. Thomas Allen of Practice Real Estate Group represented the tenant, and Travis Sawvell of JLL represented the landlord.
Pho Wok leased 2,400 square feet at 6705 Highway 290 West. Joey Mendez of Resolut RE represented the landlord.
Mama Bros Indian Restaurant leased 2,400 square feet at 801 Wells Branch Parkway in Pflugerville. Michael Noteboom and Joey Mendez of Resolut RE represented the landlord. Srinivas Kolluri of REKonnection represented the tenant.
M&P Staffing leased 2,328 square feet of office space at 9020 N. Capital of Texas Highway. Jeremy Avera of CSA Realty Group represented the tenant, and Jeff Henley and Jeffrey Henley Jr. of The Kucera Cos. represented the landlord.
Smokey Mo’s leased 2,205 square feet at 601 East Farm-to-Market 2410 in Harker Heights. Tucker Francis and Brian Sladek of Resolut RE represented the landlord. Rob Marshall of RKMarshall represented the tenant.
Lonestar Dream leased 2,059 square feet of office space at 3415 Greystone Drive. Matt Watson of Austin Office Space represented the tenant, and Jeff Henley and Jeffrey Henley Jr. of The Kucera Cos. represented the landlord.
MealBux leased 2,050 square feet at 3405 Steck Ave. Davis Paone and Sherry Naquin Sanchez of Resolut RE represented the landlord.
Beyond Kitchen & Cabinet leased 1,984 square feet at 13048 Research Blvd. Michael Noteboom and Joey Mendez of Resolut RE represented the landlord.
Aperturent.com Inc. leased 1,856 square feet of office space at 6850 Austin Center Blvd. David Stojanik and Graham Trull of The Kucera Cos. represented the landlord.
Nguyen Wong Eye Care leased 1,825 square feet at 1050 Westinghouse Road in Georgetown The company also leased 1,825 square feet at 940 Westinghouse Road. Todd Stanley of Practice Real Estate Group represented the tenant and Michael Noteboom of Resolut RE represented the landlord.
JMS Energy leased 1,850 square feet at 19621 Ranch Road in Jonestown. Davis Paone and Austin Aguilar of Resolut RE represented the landlord.
Summer Moon Coffee leased 1,850 square feet at 603 U.S. 183 in Leander. Davis Paone and Michael Noteboom of Resolut RE represented the landlord. Andrew Scroggie of Edge-RE represented the tenant.
HOTWORX leased 1,800 square feet at 9021 Goodnight Ranch Blvd. Michael Noteboom and Joey Mendez of Resolut RE represented the landlord. Ian Laskowski of Morrow Hill represented the tenant.
Prime Communications renewed its 1,784-square-foot lease at 8300 N. Farm-to-Market 620. Partners’ Kevin Murphy and Chad Wallace represented the landlord in the deal.
Techline Roofing & Solar leased 1,782 square feet of office space at 3500 S. Lamar Blvd. Jessica Neal of EXP Realty represented the tenant, and Graham Trull of The Kucera Cos. represented the landlord.
Ross Business Group leased 1,653 square feet of office space at 7200 N. MoPac Expressway. Luis Garza of Transwestern represented the tenant, and David Stojanik and Graham Trull of The Kucera Cos. represented the landlord.
SE3 leased 1,644 square feet of office space at 4201 W. Parmer Lane. Jeff Henley and Jeffrey Henley Jr. of The Kucera Cos. represented the landlord.
Soccer Shots leased 1,640 square feet of office space at 3432 Greystone Drive. Patrick Ley of ECR represented the tenant, and Jim Sprinkle and Graham Trull of The Kucera Cos. represented the landlord.
Amco Auto Insurance leased 1,628 square feet at 460 State Highway 71 in Bastrop. Janice Landers and Davis Paone of Resolut RE represented the landlord. Rafael Malara of Rom Commercial Properties represented the tenant.
Domino's Pizza leased 1,600 square feet at 6601 Ranch Road 2338 in Georgetown. Austin Aguilar, Joey Mendez and Emilie Niekdam of Resolut RE represented the landlord.
Swig leased 1,500 square feet at Commons at 1101 Muirfield Bend Drive. Davis Paone and Janice Landers of Resolut RE represented the landlord.
Viva Smiles Dental leased 1,500 square feet at 1420 Wells Branch Parkway in Pflugerville. Michael Noteboom and Joey Mendez of Resolut RE represented the landlord.
An undisclosed buyer purchased 3.6 acres at 1485 Meister Lane in Round Rock. Michael Noteboom and Tucker Francis of Resolut RE represented the seller. Brad Campbell of McAllister & Associates represented the buyer."
Source: Austin Business Journal
Written by: Cody Baird
Published: January 16, 2024
Posted by Grossman & Jones Group on
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