BH Properties Enters Austin Market with $20.5M Deal
- Feb 03, 2017
Austin, Texas—BH Properties announced their first acquisition in Austin, Texas—the former Golfsmith International Holdings Inc. headquarters, a national golf retailer that filed for bankruptcy in 2016. The Los Angeles-based investor paid $20.5 million for the four-building property. Michael Jerbich of A&G Realty Partners represented Goldsmith International in the deal, while BH Properties represented themselves.
Situated on 40 acres at 11000 N Interstate 35, the 332,345-square-foot property was built between 1991 and 1998 and features a 90,000-square-foot building previously used as retail and office space, and three manufacturing and distribution facilities comprising 239,000 square feet. Furthermore, the asset encompasses more than 10 acres of open space, currently utilized as an operating driving range and putting green. The property boasts some of the largest blocks of contiguous space available in Austin.
“This is an excellent opportunity for us to reposition quality real estate in a thriving market and great location. Just as we were successful in repositioning the Radio Shack distribution portfolio in Fort Worth, we are highly confident that we’ll find a receptive leasing market for these buildings. We’re very excited to finally be able to break into the Austin market,” BH Properties’ CAO Andrew Van Tuyle said in a prepared statement.
Images by Craig Washburn of Austin, Texas via BH Properties